Hey everyone, welcome back to another Sunday Scan. Lots of stocks are moving, so we’ll recap some names in play, and then we will have Judah join for the main watches to go over some trade ideas for the week. The details are in the video content so be sure to check it out.
A big welcome to all the new IU members! We’re happy to have you in the community, and we are providing many onboarding initiatives to make it a seamless process to learn the ropes and culture at IU. We are all about idea generation, set-up education, collaboration with each other, and technology to capitalize on great opportunities. If you are new to the community and have questions, make sure to join us in The Trader’s Lounge every day.
Lastly, make sure to check out the latest Trading Takes with Sam and Tim Sykes. It’s a great conversation.
Now, let’s get into some reviews from the past week.
Video Scan and Game Plan
The Playback
PSQH good one to review using UMAC as the template to get a read on the action. Initially it was long heavy, then flushed and got short crowded, and then the news came and it squeezed out before fading back.
PLTR lots of partnerships and press releases along with tons of call buying = steady ramp up and now starting to speed up into a possible exhaustion move.
SOUN running with the old names in the AI gang like AI and GXAI. Heavy option activity name and pretty short crowded. Waiting for it to start to feel heavy is key vs fighting a grind higher.
PRZO level 2 discussion in the video about people placing large bids in to try to trigger it to the upside and then they pulled the bids and it stalled and reversed a bit.
DVN some energy names have mixed action with oil names fading and natural gas names doing well.
UNH sell off after an executive was fatally shot last week. Likely sparks some discussions around the insurance business model and practices that may be spooking the sector.
Main Watches
NNE nuclear theme consolidating and if it can build and hold it could have the next leg up especially with any positive news catalyst.
CORZ BTC/AI theme mid caps are running well and on watch for continuation especially if bitcoin rips past 100K again this week.
UPST had several negative catalysts and still held and recovered well. CVNA type of action where the bigger chart is in play in the current market environment so it could have a leg higher after the consolidation.
NVCR making a higher low after the consolidation flush and grind so looking for potential break out over the next week or two.
PSTG strong name flagging and looking for push higher and break out if the market holds up.
ACRS consolidating and basing, setting up for the next leg higher potentially this week.
PRCH solid uptrend bigger chart idea continuing to break out and hold dips along the way.
IDAI old name running again with AI small caps. Watching for volume to come back in and next leg higher potentially.
MVST consolidating and basing well, if it grinds up looking for potential break out.
PSQH big unwind from the news and squeeze out. On watch for a bounce at some point since it retraced most of the move and likely has some shorts in there.
IONQ steady quantum trend and discussion on stock personality in the video. Tighter range for some names and orderly march up vs sharp drops and rallies like RGTI. On watch for calls as this likely speeds up soon maybe towards the 45-50 area then will switch bias to mean reversion for some downside.
AVGO positive catalyst and earnings next week could make for some strong moves to the upside. On watch for calls and if I could make a position mostly free into earnings it could be with a shot, but I won’t hold through earnings if I can’t make a call position free prior.
AMD negative catalyst and weaker chart in the AI / semi space. On watch for downside especially if the market pulls at all.
TSLA likely breaks new all time highs into the end of the year so looking for more upside over the next few weeks with calls.
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