Watchlist 2023-03-02 $NTLA $FHN $WOLF $STM $AFRM $NIO $ONCS
SPY - failing to make a higher high on the lower time frames now, couldn't close above the key 296.30 on the 1h or 5m. Gapping above 293.50 double bottom support, VIX rising, recently lost the 200 EMA, 10 year making new highs. Downside momentum is still in favour, next stop over the next week is 387.
NTLA- FDA nod to start trial of CRISPR gene editing therapy. Gap 2 because it's above a range but still below the key 45.80 pivot, also with the downs trending MA's. Up 1.5 ATRs in the PM. really need to see some Vol pick up for a trade over 45.80.
FHN - Continuation from PD - 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. key Resistance. 20.50, 21.30
Short Watches:
WOLF - Tesla suggests next-gen car will cut silicon-carbide use, Wolf, specializes in this type of chip. Down 2.3 ATRs, PD fakeout green bar which is a key feature. Also below the declining Mas. Needs to get below and stay below 66.50 area and has room to 61.
STM- lower on Tesla's Silicon Carbide Reduction Plan.
AFRM - if market weakness continues, this is a name to be short with a confirmed flat bottom break below 12. Don't want to be first to this trade. Wait for the break to happen and find a way in.
NIO - lower after reporting losses that were much wider than expected. Normally I would not trade a name that has sequential movement to a key level but NIO reported some very bad results and is approaching the 8.40 pivot on elevated RVOL, even for NIO. Watching this level. Don’t want to be the first to short the breakdown, would prefer more market structure to form. Eg lower highs, fakeout, then a weak bounce.
Other Watches: ONCS
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
NTLA- FDA nod to start trial of CRISPR gene editing therapy. Gap 2 because it's above a range but still below the key 45.80 pivot, also with the downs trending MA's. Up 1.5 ATRs in the PM. really need to see some Vol pick up for a trade over 45.80.
FHN - Continuation from PD - 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. key Resistance. 20.50, 21.30
Short Watches:
WOLF - Tesla suggests next-gen car will cut silicon-carbide use, Wolf, specializes in this type of chip. Down 2.3 ATRs, PD fakeout green bar which is a key feature. Also below the declining Mas. Needs to get below and stay below 66.50 area and has room to 61.
STM- lower on Tesla's Silicon Carbide Reduction Plan.
AFRM - if market weakness continues, this is a name to be short with a confirmed flat bottom break below 12. Don't want to be first to this trade. Wait for the break to happen and find a way in.
NIO - lower after reporting losses that were much wider than expected. Normally I would not trade a name that has sequential movement to a key level but NIO reported some very bad results and is approaching the 8.40 pivot on elevated RVOL, even for NIO. Watching this level. Don’t want to be the first to short the breakdown, would prefer more market structure to form. Eg lower highs, fakeout, then a weak bounce.
Other Watches: ONCS
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