Tuesday 11/12/2024
Bitcoin flying
Hottest sector right now is clearly crypto, with BTC gaining 10% today and hitting an all time high of $89,000
COIN MSTR both gapped up and rallied throughout the day. Getting into extended territory, a reversal will likely occur at the same time with BTC.
BTCT and BTM are two smaller cap BTC names that popped today:
TSLA day 4 of breakout but held up and looks to be gapping up in afterhours. In extended territory on watch for reversal if it gaps up again
DXYZ may lose its bid once TSLA momentum stalls
HIMS all time high cup and handle breakout
AFRM strong breakout post earnings from weekend watchlist. Looking for continuation
SQ breakout post earnings, holds some BTC so will benefit from BTC momentum
GME breakout from 25 and daily range. On watch for intraday momentum longs
BBAI smallcap breaking out from a low base
UBER if and when the market turns down, this has been relative weak trading in the opposite direction of TSLA and breaking the 200 SMA. Potential short a break of earnings low on a weak market day
VKTX another weak name after the sell-the-news event last week
RKLB hit 16 in premarket and has quadrupled from the lows of 4 it was trading at earlier this year. Reporting earnings tomorrow which could lead to a profit taking event if the earnings report is unimpactful
Disclaimer
The content provided on this Substack is for informational and educational purposes only. It does not constitute financial advice, trading advice, investment advice, or any other type of advice. The opinions and information shared here are based on personal experience, research, and insights and should not be solely relied upon to make financial or trading decisions.
Risk of Investment
Stock trading involves substantial risk, including the risk of loss. Trading in financial markets is speculative and may not be suitable for all investors. You could lose some or all of your initial investment. Past performance is not indicative of future results. Always consider your risk tolerance, financial situation, and seek advice from a licensed financial professional before acting on any information provided here.