Watchlist 05/12
Market awaits US-China trade negotations
QQQ 0.00%↑ market continued to trend up slowly this week, unsurprisingly stalling multiple times at the key area around the 200 MA. Despite the lack of volatility in the indices, there were some opportunities with stocks breaking out such as HOOD 0.00%↑, TEM 0.00%↑, TSLA 0.00%↑, as well as those that made strong moves off positive earnings reports HIMS 0.00%↑, SEZL 0.00%↑. An upcoming catalyst that may determine next weeks market direction are the results of the US-China trade negotiations happening in Geneva this weekend.
TSLA 0.00%↑ broke out on Friday over the recent range, closing above the 200 MA for the first time since the March
PONY 0.00%↑ had a strong week after breaking out on Tuesday on news that it had partnered with UBER 0.00%↑. Other autonomous driving and robotaxis stocks also moved such as WRD 0.00%↑. The rally is slightly extended after being up 4 days in a row.
RIVN 0.00%↑ seems to have formed a floor around $10 over the past year. Has rallied after reversing the earnings selloff and could have potential to shift out of a large downtrend
NBIS 0.00%↑ had multiple positive news this week on raising investments for its companies, many AI related
PLTR 0.00%↑ dropped after earnings and bounced to fill the gap. Currently in no mans land between the recent high and low range
QBTS 0.00%↑ large rally after earnings report. The prior week Kerrisdale Capital had released a short report on the stock, as well has having roughy ~20% short interest. Trading alot of volume but has struggled with this $11 area in the past
RGTI 0.00%↑ another quantum computing stock reporting earnings Monday near the $11 breakout level
QUBT 0.00%↑ reports earnings on Thursday and has a resistance level around $9, potential breakout depending on how strong the quantum sector acts this week
SEDG 0.00%↑ large two day move after earnings report. Another large upleg and would be interested for mean reversion exhaustion trade
$ETH had a strong breakout after reversing a lengthy downtrend since the December highs. Being up 40% in the last 3 days into the 200 MA, it’s likely to see a pullback as many other altcoins also cool off
HOOD 0.00%↑ broke out from the $50 consolidation area a week after earnings. Keeping on watch for potential continuation in a few days if it rests
TEM 0.00%↑ also had strong momentum after earnings, continuation watch if it sets up
