NYSE:FIGS may continue its post-IPO decline, even after a big earnings beat. It's in a downward fall and shows weakness after the gap-up. With the Federal Reserve meeting and OpEx this week, it may (at minimum) fill the gap between $14.53 to $15.90 as it moves its way down the falling wedge. If it gap fills, it may continue the fall, but I wouldn't be surprised...
Gores Gugghenheim ( NASDAQ:GGPI ) has a very weak chart and in a falling wedge formation. In the near-term, if it starts to break below $10.25, it may quickly move to support below $10. This is a classic formation where bulls may get caught in a slow bleed as it move down the falling wedge. If it breaks resistance in the near-term, bulls are likely to take over...
Apple ( NASDAQ:AAPL ) doesn't look very strong going into the March 2022 Federal Reserve meeting and OpEx next week. Never hit the primary support (white line) during the last dip. It may be destined there ($150) or to the final support area ($148ish, dotted blue line). If it breaks these supports, a new formation will emerge. But, I anticipate the support...
Qualcomm ( NASDAQ:QCOM ). While I believe semiconductors will be the hot tickers again in the near future, Qualcomm needs to close the gap between $138.55 and $147.88. The upcoming Federal Reserve meeting and OpEx may serve as catalysts for this move. While it could rise to test resistance in the low- to mid-$160s to trap the bulls, I expect it to show more...
CrowdStrike Holdings ( NASDAQ:CRWD ) may have the same fate as many tickers after a post-earnings gap-up: a drop to gap-fill. While it could move up to the 200 EMA (green line) in the near-term, catalysts such as the Federal Reserve meeting and OpEx next week may create an inevitable decline to fill $171.08 to $182.55. Further weakness may cause it to test...
Amphastar Pharmaceuticals ( NASDAQ:AMPH ) is currently at historical resistance after reaching a new high today at $34.42. It's now above the average analyst target ($28.50 as of 3/7/2022) and insiders have sold $2.2 million in the past 2 months. Earnings on March 10th. The float is near 37 million with a 5.5% short interest. It is at "risk" for a...
AbbVie ( NYSE:ABBV ) looks weak at resistance and may be due for a drop in the coming weeks. Pretty strong bearish divergence. Insiders selling almost $16 million worth of shares in the past month at an average of $147.87 (source: OpenInsider). If this starts to drop, support points are the 50 EMA (yellow line), $135-$136, and then the support lines / 200 EMA....
Sunlight Financial ( NYSE:SUNL ) is at major resistance and the RSI is showing bearish divergence. If resistance holds and upward momentum continues into weaken into the Federal Reserve meeting and OpEx next week, I expect this to drop below $3. If it holds well through next week or even breaks resistance, earnings on March 22, 2022 (after hours) may be the...
T-Mobile ( NASDAQ:TMUS ) popped after its most recent earnings release. The gap below looms before the March 2022 Fed meeting and OpEx week. Based on its inability to break through resistance, the slight bearish divergence, and the weakening momentum, I expect the gap below ($110.50 = $116.91) to be filled in the coming days/weeks.
Lantheus Holdings ( NASDAQ:LNTH ) has been on a major run recently after an earnings beat. Insiders started selling shares ($3.3 million) in late February/early March 2022 after it popped from the $28s to a current high of $54.10. It is highly overextended and has hit it's historical resistance based on the highs from 2015 and 2017 (blue resistance line on the...