Not the best sign for the market when AAPL 0.00%↑ looks like this:
Reacts negatively to the most recent earning's report and is now below the 10EMA, 20EMA and 50DMA.
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General Market Overview
Leading Stocks Analysis
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Average: -1.93%
DKNG 0.00%↑ Poor daily closing range to end the session +5.84% after gapping up in response to earnings. Reversed intraday to give back most of the gap’s gains but was still able to close above all KMAs and this 31.50 area, on watch for follow through:
SMCI 0.00%↑ Clearly doesn’t care about the distribution trickling down into the general market - retests the most recent area of support around the 313 spot to quickly find buyers, turn up, and make new all time highs once again:
APP 0.00%↑ Strong name that continues trending upwards with buyers showing up around the 10EMA on weakness:
NVDA 0.00%↑ Struggled to reclaim the 10/20EMAs last session - watching for a hold of the 430 area as if this is lost we may be heading back down to the 50DMA:
TTD 0.00%↑ Right back to the 20EMA where it has closed just above over the last 2 sessions - still being pinned down by the 10EMA and am watching for a pop through and reclaim:
ONON 0.00%↑ Has been choppy recently with volatile moves in both ways - not a big fan of these wild ranges and has to tighten up before I look to get involved - so far holding above the prior highs just under 35:
UBER 0.00%↑ Initial reaction to earnings report was a positive one, however, ultimately reversed that to give back its gains and then some more. Now closing below the 10/20EMAs and may be indicating that some of the recent momentum in this name has been lost:
SHOP 0.00%↑ Clear weakness since the most recent failed breakout - gave a clear warning sign with the -7.4% day on the August, closing decisively below all KMAs and has continued trending downwards since:
TSLA 0.00%↑ Tried to move out of this tight range last session but got stuffed by sellers that came in right around the declining 10/20EMA to close near the lows of the session and just above the 50DMA. Failure to hold the 50 day could welcome additional weakness:
U 0.00%↑ A notable character change since losing the 20EMA which it has respected all throughout the most recent run up - now pulling back in to the 50-day and I’d like to see buyers show up here:
APLD 0.00%↑ Quick -30% haircut in just a few sessions and now below all the declining key moving averages as it undercuts the most recent earning’s gap-up lows:
BRZE 0.00%↑ Another weak name since losing the short term KMAs and seems to be heading to the 50-day. Weekly chart shows a close right at the 10WMA:
ELF 0.00%↑ Gapped up +14% on earnings with a reversal to close poorly on the session and undergo additional distribution to end the week. Getting pretty late stage here as it now gapped up on earnings for the 5th time in a row:
CFLT 0.00%↑ With a positive response to earnings that it attempted to follow up with additional strength last session however ended up reversing to close near the lows of the day right at the KMAs:
AI 0.00%↑ Weekly chart shows this continues riding the 10WMA higher but daily shows a recent breakout failure and now living below all key moving averages with a poor close last session:
Average: -4.99%
In the following sections of the daily plan I go over additional research in preparation for the next session:
✅ Individual sector analysis
✅ 4 Scans with results to get stocks with leadership qualities on our radar
✅ Personal Portfolio Update
✅ Stocks currently on my focus list with actionable trade ideas - The best setups from a risk/reward perspective
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