CVRX has shown tremendous strength this month. It reclaimed all of its moving averages in two days and has managed to hold above the 10-day EMA ever since. This short-term moving average is what I want to see supporting the stock on a strong move up. Shares pulled slightly back this week and kissed the support/resistance level at 13.00. Traders may consider...
Funko took a beating in last year’s bear market, but the stock is quickly coming back to life. FNKO surged on earnings last week and has given back almost none of the initial move. Shares are barely retracing and doing so on minimal volume – a sign that no one is selling. This trade is pretty simple – draw a trend line and buy when it breaks above it. I forgot...
Datadog is trying to put end to what has been a vicious Stage 4 downtrend. The stock fell 68% in last year’s bear market but is now rising quickly off the lows. DDOG has reclaimed its 200-day moving average (white line on chart) for the first time in over a year after reporting better-than-expected earnings numbers last week. The stock has stalled just under...
Biotech stocks can make huge moves, and this one is no exception. TGTX more than doubled in a month and is showing no signs of slowing down. Slower-trending, blue chip stocks tend to ride their 50-day moving average (red line on chart) on the way up. Stronger stocks tend to hold their 21-day moving average (blue line). But with high-flying honey badger stocks...
On Holdings, the maker of OnCloud tennis shoes found on soccer moms everywhere, is one of the hottest stocks in the market right now. It went public in 2021, just in time to get hammered in the bull market. But shares have come back with a vengeance. ONON has already doubled this year and is making new all-time highs as I write this. Notice the textbook...
The energy drink maker has always been a mover. The stock trends well and routinely makes 50% moves in a few weeks or months. The stock was a big leader in 2022 and actually rose more than 100% in the middle of the bear market. It has since pulled back but it is again showing a lot of strength. Shares ripped through the 200-day moving average to reclaim their...
HIMS has been a market-leading stock for several months. It has tripled since October and is now consolidating at all-time highs before its earnings announcement. The company is scheduled to report after market close on Monday, 5/9. If I were a gambler, my bet would be that they beat and surge higher. Personally, I’m not willing to risk it which is why I...
Iridium Communications is a telecom stock in a clear uptrend. Shares have more than doubled over the last 12 months with clear support at the 50-day moving average. The dashed white line on the chart highlights the area I have been watching - the HKEX:62 price level. This has been a key area of support and resistance and a likely place for IRDM buyers to step...
CARS is setting up for a breakout above $20. The 2021 high for the stock was 19.07 set the month before the bear market started. This level was finally eclipsed last month. CARS is not consolidating on tightening price action through a series of shallowing pullbacks. A strong move through the 20.10 pivot point would be a buy trigger for me. You could work a...
Vontier is an industrial machinery company setting up in a textbook breakout pattern. After surging more than 50% off the October lows and reclaiming its 200-day moving average, shares have consolidated in a series of shallowing pullbacks. Retracements have tightened from 11% to 7% to just 4.5% with resistance at 27.50. Look for a breakout above 27.60 on above...
The leisure gaming group, as a whole, is setting up in a textbook breakout pattern. Group moves like this can be powerful. The combination of a group move and a similar pattern from an individual stock within that group can lead to a strong advance higher. DraftKings is breaking out of a clean base in the beginning of a new Stage 2 uptrend. If you look at a...
The leisure gaming group, as a whole, is setting up in a textbook breakout pattern. Group moves like this can be powerful. The combination of a group move and a similar pattern from an individual stock within that group can lead to a strong advance higher. IGT stock just made new 52-week highs. After a shakeout move in mid-March, the stock completed a textbook...
Studio City is a Hong Kong-based resort and casino located in Macau. After finding support at the HKEX:2 area last year, the stock emerged from its slumber to advance in just two months. It has been consolidating since January and now appears ready to go another leg higher. This is a low-priced, thinly traded stock and as such, carries more risk. So, we want...
Bitcoin had a painful 2022. But the digital currency turned bullish this year and is now marching higher. GBTC is an exchange traded fund that holds Bitcoin but trades like a stock. So regular investors can get exposure to crypto without the hassle of digital wallets or sketchy cryptocurrency brokers. The stock is currently wedging on decreased volume. This is...
Exact Sciences is a biotech stock showing high relative strength. Following a 50% jump in January, the stock is tightening with pullbacks getting shallower from left to right. This is a sign of seller digestion which we often see before a new breakout to the upside. EXAS is also finding support at key moving averages which appear to be holding up the stock. I...
ONON is the maker of the popular OnCloud running shoes. The company has experienced tremendous growth over the last few years. I even see it here. They are on the feet on every soccer mom in town. Last month’s earnings report blew away expectations and shares advanced almost 50% in a week. Since then, pullbacks have been minimal. This is a recent IPO, and it...
HIMS is an exciting new company taking the awkward discomfort out of sensitive medical issues for men and women. They have two sites – Hims and Hers. The sites are catered to each gender and offer hair loss medications, prescription skin cream, anxiety drugs, and sexual dysfunction treatments via quick, online doctor visits. The company then ships the drugs or...
CPRX is the #1 stock in the biotech group by almost every metric. The table on the chart shows its ranking out of all 795 biotech stocks by 3 metrics from IBD's MarketSmith. Sales and earnings are surging and the rate at which both are growing has increased in each of the last 4 quarters. The stock made a false breakout on December 14 when the market gapped up...