The Nasdaq Composite climbed to new record highs as we continue to push through a mixed earnings season. There is plenty of pain, but lots of nice gains. With all of that in mind, let’s look at a few top stock trades for Friday.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
Top Stock Trades for Tomorrow No. 1: Dogecoin (DOGE)
Dogecoin (CCC:DOGE-USD) is howling on Thursday, giving us a daily-, weekly- and at one point today, a monthly-up rotation. And no, as far as I know, I won’t be let go due to my poor pun usage.
As it pertains to Dogecoin, the move thrust it over the 200-day moving average and nearly sent it to the August high at 35.18 cents. If we can get another push above this level, it could open the door to the 42.5 cent mark, followed by the 50% range retracement at 44.62 cents.
Given the momentum we’re seeing in its rival Shiba Inu (CCC:SHIB-USD), a rally is more than possible in Dogecoin.
If it doesn’t materialize, though, and Dogecoin turns lower, let’s see if the 200-day moving average buoys the coin.
Top Stock Trades for Tomorrow No. 2: Amazon (AMZN)
Amazon (NASDAQ:AMZN) reported earnings after the close, alongside Apple (NASDAQ:AAPL).
AMZN stock has been a depressing hold, as it’s been consolidating since the summer of 2020. It’s time to move on…or at least, that’s what bulls are hoping for.
Did the company sandbag the quarter for its CEO? Will Amazon ever split its stock? If the answer to both of these questions is “yes,” shares are likely to go higher.
I took a look at AMZN stock this morning, first highlighting the $3,500 to $3,550 area on the upside. If earnings weren’t in play, the stock’s weekly-up rotation would be quite attractive. As it stands, though, we have to see the quarter first.
If AMZN stock can clear $3,550, it opens the door to the recent highs near $3,750, then eventually the 161.8% extension up near $3,975.
On the downside, however, a move below the 200-day and 50-week moving averages opens the door to $3,175 support. Below that, and…
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
