Weekend Review & Focus List
Earnings Movers, Sector & Leading Stock Analysis, + 3 Helpful Scans
Hi all! 👋
Hope you all had a great weekend and are ready for what this week holds - some interesting earnings reports ahead of us as we are at crucial areas in the overall market, excited for what this week has in store. Here are my thoughts.
General Market Overview
Negatives (-) : A continuation of distribution as we se gap downs all around here, SPY 0.00%↑ now below the 50MA and will be watching for a quick reclaim - if not, resistance there will only make things more difficult. ARKK 0.00%↑ Breaks down from a bear-flag like pattern.
Positives (+) : Reversal attempt following gap down, strong DCRs all around.
Leading Stocks Analysis
Performance last session:
SMCI 0.00%↑ Really flexing its muscles and showing its potential - breaks out from a nice cup and handle base to new all time highs against overall market weakness. This is one to keep on watch, will be looking for follow through.
TMDX 0.00%↑ Showing us just what we want to see - Little give back following gap up, strong DCR
MBLY 0.00%↑ Still a young stock with wide ranges - position sizes here should combat the higher volatility
IMVT 0.00%↑ Breaking the 50MA and considering replacing with TSLA.
I am linking the leaders watchlist in tradingview for your convenience, here
Performance this week:
Sector Analysis
Performance last session:
I am linking the sectors watchlist in tradingview for your convenience, here
Generalized and widespread distribution in the above components but several did go on to close strong on the session.
XES 0.00%↑ With a strong reversal and reclaim of the 50MA, watching to conclude whether the recent break of the 50MA was simply a shakeout or something more serious than that, the action to follow will guide us. Short-term KMAs up ahead and will be watching to see the action there.
Internet components - XWEB 0.00%↑ and KWEB 0.00%↑ With lots of give back here:
Performance this week:
Scans
52 Week highs
9 Million breakout
+10% Breakout
Upcoming Earnings For This Week
Focus List
AI 0.00%↑ Loving this setup. The problem is that so do many others, it is not the best sign when too many eyes are on one single stock. Nevertheless, clear strength here and has not even undercut the 20EMA, I like how ranges are tightening up and will be watching to get involved above last session's high thru the downward trend line around 22.65
RVNC 0.00%↑ Really nice action following a +54% gap-up, trades well. Now got supported at 20EMA and offering a pivot above previous session's high: Around 34.3.
NRDS 0.00%↑ Has shown it has the ability to move quickly as it has done so with clear power and little give back. Would prefer more of a consolidation up here in this area but may just get going through the pivot, chances of success would be lowered as still quite extended from KMAs.
OKTA 0.00%↑ Seeing some potential in these kind of stocks that ran up nicely off. the bottom and are now pulling back to KMAs providing opportunities above downward trend lines.
TSLA 0.00%↑ Another similar to above
ELF 0.00%↑ True leadership qualities throughout its run, clear relative strength throught and now consolidating above short-term KMAs.
IQ 0.00%↑ Massive +385% Move off the bottom and now consolidating above the 20EMA with some supportive action showing up in that area.
SGML 0.00%↑ +16% Gap-up on volume and now consolidating above KMAs with some supportive action:
STNG 0.00%↑ Strong move recently but needs some more time to form a proper consolidation
PBF 0.00%↑ Shakeout below the short-term KMAs with a nice reversal candle last session and tightening up here, back with group strength from the Oilers. a
ATKR 0.00%↑ Liking the consolidation here above the 20EMA as it flags out and watching how it acts above last session's high around 143.69 coinciding with the DTL above.
VLD 0.00%↑ +166% Move off the lows and now consolidating above the 20EMA.
RXO 0.00%↑ Recent IPO which is pulling back in an orderly fashion to the 20EMA with a DTL up above
LASE 0.00%↑ Still watching this young IPO at previous all time highs. Like how it is tightening up here:
RMBS 0.00%↑ Supportive action at KMAs as it flags out.
XM 0.00%↑ One of my focus stocks here - strong DCRs all around as it reclaims the 10EMA, liking this post-earnings gap flag so far:
ATAT 0.00%↑ Still waiting for this to tighten up some more in this area and offer a low-risk opportunity. Ranges too wide as things stand currently.
TWLO 0.00%↑ Came back in with overall market weakness following an earnings gap up, now watching for a reversal above last session's high around 64.3 after support at the 20EMA.
NVDA 0.00%↑ Great action here with little give back and holding the gap, watching for some sort of a flag to form here
EHTH 0.00%↑ Some nice action here with a clear display of strength
SERA 0.00%↑ Still tightening after moving +175% in a few sessions