Roku And Tesla Stocks Plunge On April 4, Are More Losses On The Way?

Roku and Tesla Stocks Plunge on April 4, Are More Losses On The Way?

S&P 500 (SPY)

It was a slow start to the day, but stocks managed to piece together a solid day rising by about 20 basis point closing out around 2,880. Where the market goes from here over the short-term will largely be dictated by the results of the Jobs data tomorrow. Estimates are for job creation of 170,000. Also, it will be essential to watch the revision for February, which came in at just 20,000. Another lousy reading on the jobs report will likely freak out investors on concerns of a weakening economy.

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S&P 500

Technology (XLK)

Technology stocks were noticeably weaker with the XLK falling by about 50bps. The ETF is struggling a bit at a resistance level around $76.25. The struggles are not surprising; the ETF is knocking on the door of an all-time high.

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technology etf

Tesla (TSLA)

Tesla shares fell sharply today after the disappointing delivery numbers. The stock pretty much-held firm where it should around $261. This has been a big level of support for some time, and expect that to continue.

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tesla, tsla

Roku (ROKU)

Roku fell sharply after the downgrade I noted this morning. The shares fell through support at $64, to the uptrend at around $62.50. The good news is that the stock held that uptrend and bounced. As long as the stock stays above the uptrend, it has the potential to rise back to about $70. Should the stock break below $62.50 it could drop to around $59.

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roku

Square (SQ)

I had thought Square was breaking out yesterday. I was wrong. Geez. Your guess is as good as mine. We’ll have to see what happens tomorrow to get a better handle.

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square

Boeing (BA)

Boeing continues to climb, and it seems now the stock has a good chance of filling the gap at $420.

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Boeing, ba

Alibaba (BABA)

Alibaba was up today, and as I noted yesterday, I think this one is heading higher. The stock has a reasonable shot of making to around $200.

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alibaba

Citigroup (C)

Citigroup is butting up against resistance at $66, what now? From the looks of things, there is a good chance of its breaking out and rising to around $70.

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citigroup, c