JSC Scan 7/18/22

Biotech/healthcare– we have seen many of the past previous weeks runners coming right from Biotech, XBI has had a 20%+  move and in that move sparked huge moves in names such as ORMP, SIGA, VERU , RYTM, HALO, CTIC , GOSS, RCKT , it was a sector them, so for the future I would look at this, and when a sector gets moving, what are the small / mid- cap names with lots of past range that get going if news/pr hits/ where is the probability of momentum? Many times over, it is within the sectors that are going up or going down the most

XBI- like long 81.20-81.60 as a guide , flag still forming, market firmed up

UTHR- will look vs 240 area

SIGA- beautiful trend and has soaked each day it has come in, big range here too often offering 2+ intraday, will look any weak open for breakout and new potential 52 week highs, they can speed this up

VERU- looking similar vs 16.50-.80, this is the space where buyers are stepping in on weakness

HRMY- would take a long on 55.30 cross up

RCKT- will look long vs 15.60

CRSP- watching this name, nothing for Monday but watching for tightening up flag building during this week and coming weeks

GROWTH

GTLB- still building higher lows would look any weak open off the open for a potential trend join if can get back above the opening range, conviction builds

FTNT- will look for continued build here and some tightening up above 10/20/50 moving average

AI- looking for cross above 19.30-19.50 to buy

RBLX- 38.50 guide for a long play

SHOP- nothing for Monday unless 32s start to firm up, watching this tho, tested right on 52wk lows and reclaimed

Financials on Watch

C- huge move and reversal on the earnings, if you were paying attention, which I wasn’t, this is exactly where money was to be made on Friday with unlimited liquidity, you could have bought 500k shares, and they would have hardly noticed you- want to see how 47/48 holds through the week

WFC- same story, lets see what levels set up through the week

JPM- looking vs 110-111 area=

GS- looking weak open vs 291

 

Misc:

GME- going to keep looking ss vs 145, when this cracks, WHICH MIGHT TAKE AWHILE, i think it will crack hard, no need to hyperfocus on this alone, set alerts, let the market tell you when it’s time, really breaking down to me is below 122, but I am going to look to keep risking vs recent highs, asymmetric risk to reward type of trade

AMC- will keep looking vs 16 area, if it wants to build and gme wants another leg up, will be 17-18

 

Semiconductors: started to really heat up on Thursday, 20 % move in the past 1 and half sessions to end the week

SOXL- will be looking 14.-14.50 throughout the week

AMD- will be looking with SOXL as a place to buy weakness

NVDA- needs build above 159-160 next leg