SPY - weakness continues, failing to approach yesterday's PD high and flushing past the PD low to finish off the trading day. Gapping up this morning back into supply. Bias is short.
Li, BABA, BIDU (Chinese DRs) - strong economic data out of China offsets downbeat earnings reports. Li specifically gapping over 200 EMA, over the high RVOL earnings day wide range red bar, and over the downtrend channel. Be cautious as ADRs with relative strength like BIDU are gapping into resistance.
FHN - doesn't expect it will receive regulatory OK in time to complete its $13.4 billion acquisition by May 27, which priced the shares at a cash buyout of 25 1 year ago from TD bank. Insane ATR move this morning, down 54 Atrs on 6M share vol. Seeing some strong buying at key levels in the PM. Long bias but will let the price action tell me. Important to note that shares are probably trading at value where they were 1 year ago before the acquisition. Also, not that the deal COULD still go through, just likely not by may. Key support 18.70, 19.46. key Resistance. 20.50, 21.30
MNST - Fourth-Quarter Results Miss Street Views on Foreign-Exchange Headwinds, Higher Costs. Down 2.5 ATR, under key 98.50 pivot. Room to 96,23 pivot at 200 EMA. Because the low vol I'd need to see a retracement and rejection higher for confirmation and to improve RR because considering a short
AI - forming a wedge on the daily. Would preferring to see one more daily of consolidation, with fakeout below 21.38 or a double top at 22.80 where prices has a more clear resistance to breakout from. Either of those scenarios I am interested in a long with target to 26 area.
Short Watches:
HLMN - Upsized Secondary Offering at $8 Per Share.
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts.
Yellow = Support
Purple = Resistance
Red = short opportunity
Green= long opportunity
Li, BABA, BIDU (Chinese DRs) - strong economic data out of China offsets downbeat earnings reports. Li specifically gapping over 200 EMA, over the high RVOL earnings day wide range red bar, and over the downtrend channel. Be cautious as ADRs with relative strength like BIDU are gapping into resistance.
FHN - doesn't expect it will receive regulatory OK in time to complete its $13.4 billion acquisition by May 27, which priced the shares at a cash buyout of 25 1 year ago from TD bank. Insane ATR move this morning, down 54 Atrs on 6M share vol. Seeing some strong buying at key levels in the PM. Long bias but will let the price action tell me. Important to note that shares are probably trading at value where they were 1 year ago before the acquisition. Also, not that the deal COULD still go through, just likely not by may. Key support 18.70, 19.46. key Resistance. 20.50, 21.30
MNST - Fourth-Quarter Results Miss Street Views on Foreign-Exchange Headwinds, Higher Costs. Down 2.5 ATR, under key 98.50 pivot. Room to 96,23 pivot at 200 EMA. Because the low vol I'd need to see a retracement and rejection higher for confirmation and to improve RR because considering a short
AI - forming a wedge on the daily. Would preferring to see one more daily of consolidation, with fakeout below 21.38 or a double top at 22.80 where prices has a more clear resistance to breakout from. Either of those scenarios I am interested in a long with target to 26 area.
Short Watches:
HLMN - Upsized Secondary Offering at $8 Per Share.
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts.
Yellow = Support
Purple = Resistance
Red = short opportunity
Green= long opportunity