Avis Budget Group Inc. (NASDAQ: CAR)

Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide.

Take a look at the 1-year chart of Avis (NASDAQ: CAR) with the added notations:

1-year chart of Avis (NASDAQ: CAR)

During the past couple of months, CAR had formed an important level of support at $30 (red). Last week saw the stock break below that support. Not only does that imply lower prices for CAR, but the $30 level should now act as resistance on any future rallies.

The Tale of the Tape: CAR broke a key level of support at $30. A trader could enter a short position on any rallies up to or near $30 with a stop placed above the level. If the stock were to break back above the $30 level, a long position might be entered instead.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

Cirrus Logic, Inc. (NASDAQ: CRUS)

Cirrus Logic, Inc., a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets.

Take a look at the 1-year chart of Cirrus (NASDAQ: CRUS) with the added notations:

1-year chart of Cirrus (NASDAQ: CRUS)

CRUS has a key level of support at $35 (green). The stock has almost made its way back down to that level again, and traders might be able to expect some sort of a bounce from there, if it does. However, if the $35 support level were to break, lower prices should follow.

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Integra Lifesciences Holdings Corp (NASDAQ: IART)

Integra LifeSciences Holdings Corporation develops, manufactures, and markets surgical implants and medical instruments for use in neurosurgery, extremity reconstruction, orthopedics, and general surgery.

Take a look at the 1-year chart of Integra (NASDAQ: IART) below with my added notations:

1-year chart of Integra (NASDAQ: IART)

IART has formed key support in the $60 (green) area over the past month, a level that was also resistance back August. The stock also has a down trending resistance line (red). These two levels combined have IART stuck within a common chart pattern known as a descending triangle. Eventually, the stock will have to break one of those two levels.

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Atara Biotherapeutics Inc (NASDAQ: ATRA)

Atara Biotherapeutics, Inc., an off-the-shelf T-cell immunotherapy company, develops treatments for patients with cancer, autoimmune, and viral diseases in the United States.

Take a look at the 1-year chart of Atara (NASDAQ: ATRA) with the added notations:

1-year chart of Atara (NASDAQ: ATRA)

During the past eighth months, ATRA had formed a very important level of support at $35 (green). Earlier this week saw the stock break below that support. Not only does that imply lower prices for ATRA, but the $35 level should act as resistance on future rallies, as it has during the past several days.

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ABIOMED, Inc. (NASDAQ: ABMD)

ABIOMED, Inc. engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart. It also provides continuum of care to heart failure patients.

Take a look at the 1-year chart of ABIOMED (NASDAQ: ABMD) with the added notations:

1-year chart of ABIOMED (NASDAQ: ABMD)

ABMD has a key level of support at $350 (green). The stock has almost made its way back down to that level again, and traders might be able to expect some sort of a bounce from there, if it does. However, if the $350 support level were to break, lower prices should follow.

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