Watchlist 03/24
Selling pressure stalls, potential rally?
Market
The market closed marginally positive this week, breaking its streak of 4 consecutive down weeks. As the selling has somewhat stalled, a potential rally higher could materialise if we break last weeks high. Looking at the weekly chart, this would not be unnatural after the recent decline
TSLA 0.00%↑ weekly chart closing with two hammer candles as it was bought up below $240 the last two weeks. Perhaps a break above $250 can see a move higher
PLTR 0.00%↑ one of the stronger names for the last two weeks as it has been creeping up from the 80-90 range while the market went sideways
Out of the megacaps, SPOT 0.00%↑ and NFLX 0.00%↑ look the strongest and have recovered the most out of the recent decline
Relative strength
Here are some stocks that are making higher lows or going higher while the market goes down/remains sideways:
OKTA 0.00%↑ consolidating after earnings move
DOCU 0.00%↑ consolidating after earnings move
Speculative small caps
LAZR 0.00%↑ OUST 0.00%↑ two Lidar related stocks that rallied on Friday after earnings
MARA 0.00%↑ crypto mining stocks are extremely weak, has a clear level at $12 but may not break until some weakness in $BTC
CLSK 0.00%↑ another mining stock in clear downtrend consolidating for a next leg
Quantum computing stocks
QBTS 0.00%↑ as expected, the stock was sold after Nvidia’s quantum computing panel. Likely retraces back the squeeze move and fills the gap towards $7
RGTI 0.00%↑ sitting in the middle of range on daily chart for now, a breakdown of $7 support further down the line would be notable
Hi, great content. Would You consider adding some kind of trigger that You use to enter for each position in the wachlist. I see, that You have done it with MARA. Could You add sth to Qbts, Uber or Docu? THanks