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Good Evening Horsemen Traders!
We did not release a Weekly Watch-List last week as I was visiting family in Michigan and was not in the market at all. Apologies as we always try to make our WL’s consistent so our subscribers have the analysis they need for the upcoming trading week.
From looking at last week’s charts and keeping up with market news it looks like the EV sector has strong momentum going into next week with a ton of “Traders Remorse” set ups on EV charts. $SPY gave us a strong “Double Top” set up on Friday. This is usually a bearish indicator and with inflation fears combined with the FED starting to “taper" the easy cash, we can see more choppiness at these extended levels on the $SPY. Until there is some good news for the market to price in I think we will continue to chop around at All Time Highs and see small corrections which for now should be considered buying opportunities.
I’ll be watching $XBI (healthcare sector) next week as well. $XBI is showing a doji candle at support on the daily chart. We also have a major healthcare conference this week, the “Piper Sandler Annual Healthcare Conference”. We can also see more FDA announcements before the end of the year. PDUFA dates for several companies are approaching. $IWM is the small cap ETF, this market had a really rough week, closing at lows each day and closing the week under the 20ema on the daily chart.
Tonight’s watch-list is focused on a few Covid related swing plays based on charts and what I think will be increased positive sentiment in the healthcare sector. As usual we will be releasing our Morning News Brief (MNB) each morning, if you are part of our paid subscription you will receive our research including key levels for each MNB ticker each morning.
For more active traders consider joining the FHT Discord where our traders alert chart set ups, news, live swing alerts and much more! Click the link to see all our Discord resources…
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$INO
- Key Level of 7
- If key level can hold support then i'm looking for a retest of the 7.5 area|
- If key level cannot hold support we have a possible gap fill at 6.77
- Stock showing two months of uptrend with a nice range to 8.5 which is the 200ema
- Looking to play the consolidation and dips. Scalping in at 7 area out at 7.5ish for 2.5%
- Covid stocks are showing some increase volume last week as well.
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$CODX
- Key Level of 8.9
- If key level can hold support then i'm looking for a hold of 9 for a push back to the 200ema around 9.85 area
- If key level cannot hold then i'll be looking for a pull back to 8.5 area for a bounce.
- Currently in a "Traders Remorse" set up. Pulling back after a strong breakout with volume hitting 10 off recent ER
- 8.9 key level is also prior resistance.
- Looking for a retest of 10 as next long play
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$APT
- Key Level 5
- If key level can hold support then i'm looking for a push back to 5.5 (20ema) then 6 area
- If key level cannot hold support then i'm looking for 4.8's if that fails we need to reassess.
- Covid Mask Play
- Bottom Bounce play getting increased volume off 5 support.
- Watching market sentiment as covid plays can be hedge against a bearish market
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$OCGN
- Key Level of 7.5
- If key level can hold support then i'm looking for a push back to 8 then 9 area where 20 and 50ema are located.
- If key level cannot hold support then i'm looking for a pull back to 7.15 area
- Increased volume on Friday off a tweezer bottom coming off downtrend
- Looks like we may see a decent reversal off the 200ema.
- Big range with a gap to fill around 12
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$VXRT
- Key Level of 7
- If key level can hold support then i'm looking for price to push toward 7.3(200ema) then 7.9-8 area
- If key level cannot hold support then i'm looking for a dip to 6.9 area in order to maintain current uptrend
- Phase 2 covid data for vaccine pill expected in Q1 2022
- Nice consolidation under 200ema, I'm looking for a break of 200ema for continuation of uptrend with a range all the way to 10
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$RIOT
- Key Level of 35
- If key level can hold support then i'm looking for a push to 38 then 40 levels
- If key level cannot hold then i'm looking for a potential pullback to 33.5 prior support level.
- Looking for bitcoin to hold above 55k for crypto stocks to maintain bullish sentiment
- Chart is showing a traders remorse set up wicking off the 200ema which is a strong support level
- RSI is at 54 which is in potential running range.
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$XERS
- Key Level of 2.15
- If key level can hold then i'm looking for a reversal back to 2.5 area with a range to 3.2 at the 200ema
- If key level cannot hold support then i'm looking for a pull back to 2.
- Recent PT increase to 6
- 100M in cash on hand
- Q3 ER showed 19% increase compared to previous quarter.
- PDUFA Jan 1st for Cushing's syndrome (looking for run up into PDUFA)
- Giving us a nice pull back last week watching for a reversal.
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