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Good Evening Horsemen Traders!
A few things to mention before getting into the micro details of this week’s watch-list. First I want to apologize to our subscribes for not putting out a Watch-List last week. I usually do the research for these WL’s on Sunday evening and last Sunday was Halloween so my wife and I went to the NYC Halloween Parade which was a complete blast. I hope this week’s WL makes up for missing last week.
I want to say is I hope you have exposure to this market. We have been ripping for a few weeks now coming off a nice V-Bottom on the SPY. XBI (bio caps) and IWM (small caps) have also shown a lot of strength which is a good sign for the health of the overall market.
Friday’s news of Pfizer Treatment for Covid-19 is bringing back the “reopening plays”. These include travel and leisure stocks, gaming and other stocks that were hurt by Delta Variant fears. Make sure to follow us for our Daily Watch-Lists for Premium Members, we release many tickers throughout the week to watch.
I would not be surprised if we see some choppy action this week as the broader markets are testing All Time Highs almost daily. That being said I would not be shocked to see the market grind higher or give us a nice correction to motivate bulls to enter positions they’ve been eyeing.
For this week we are focusing on a few different areas in the market. I’ve put some potential infrastructure plays on the WL citing the passage of the “Infrastructure Bill”. I’m also watching bio-tech plays because I think $XBI might run into end of the year with a lot of news coming out including ER’s and PDUFA dates in December. The rest of our Watch-List this week is based on chart set ups and momentum off recent news .
For more active traders consider joining the FHT Discord where our traders alert chart set ups, news, live swing alerts and much more! Click the link to see all our Discord resources…
This watch-list is geared to the average short term swing trader and day trader. Key levels are guidelines for entries both long and short depending on if price is moving above (long) or below (short) the key level. The resistance and support levels given can then be used as targets for both long and short trade.
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$PRTY
- Key Level is 9
- If key level can hold support i'm looking for a push to 10 then 11 resistance areas
- If key level cannot hold support i'm looking for a pull back to 8.5 (prior resistance) then 8 where the 20ema is located.
- Part of the "reopening" sector, showing strong momentum off the 200ema support area
- ER is Nov 9th Tuesday
- I do see a Head and Shoulders (bearish pattern) on the weekly. Stock needs to hold our 9 key level to break this pattern.
- I'm looking to trade some consolidation at this 9 resistance area before ER.
- Strong increase of volume giving while price continues making uptrend (higher lows)
- I will watch ER to see if we might get a squeeze as shorts are still in pretty heavy on this recent run up.
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$SBET
- Key Level is 4
- If key level can hold support i'm looking for a put to 4.60 (50ema) resistance then 5 (200ema)
- If key level cannot hold support i'm looking for next bounce area around 3.75 then 3.5 area
- Catalyst: "Announced corporate update for Nov 17 @11:30am"
- News gave stock volume then we saw a pull back the next day to a higher low (Buy the Dip)
- Extremely low float of 2M shares
- Ran hard to 15+ before down trending with rest of small caps (big range)
- Looking for a run up into catalyst, targets are resistance areas, entries are prior resistance levels on the daily chart
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$OTRK
- Key Level is 11
- If key level can hold support i'm looking for a move to 11.70 (50ema) then 12, 15 with gap fill at 20 and 200ema at 26
- If key level cannot hold support i'm looking for next bounce area at 10
- Moved on ER news: "Raises annual guidance to 82M-86M"
- We saw a little short squeeze take place on Friday off ER.
- I'll be looking for the stock to dump at open at which point shorts that loaded on Friday will looking to buy shares to cover, that's where i'll go long for a scalp
- Looking for 10 to be where shorts start to exit and buyers from Friday add to their FOMO positions.
- I like the range on Daily as well for more bulls to enter this especially if uptrend maintains.
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$BBBY
- Key Level is 21.50
- If key level can hold support i'm looking for a move back to 23 (200ema) resistance then 25+ with range to 30
- If key level cannot hold support i'm looking for a pull back to 20.5 then 19.5 (50ema) with a gap fill at 16.75
- Crazy 100% move last week on $KR collaboration news
- Very nice pivot set up on the daily worked nice on Friday, unfortunately we missed it.
- Friday action shows there is more potential for a retest of the 30 area which the stock hit in After Hours.
- Looking for a higher low on Monday for a potential uptrend continuation
- Volume was strong as well on Friday.
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$BGFV
- Key Level is 30
- If key level can hold support i'm looking for a move back to 32, 34, 36 resistance areas
- If key level cannot hold support i'm looking for a retest of 28 area with 20ema at 26.5
- Released ER last week announcing "Special cash dividend of 1.00 per share"
- Stock had high short float and squeezed during market hours only to get shorted into close
- On Friday we saw support come in giving us a doji candlestick (reversal)
- Great range for bulls to target 40+
- Looking at 30 as potential uptrend support as this is a strong phycological support level.
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$AREC
- Key Level is 2.2
- If key level can hold support then i'm looking for a retest of 2.40 area (200ema), then 2.6, 2.8
- If key level cannot hold support i'm looking for a wick to 2 area.
- Infrastructure play
- Pumpers like to add this to their Infrastructure plays WL's so i'll be looking to get in on a dip with a starter to see what happens.
- 2.2 was also last strong short term support area.
- Daily chart still holding uptrend (higher lows)
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$IEA
- Key Level is 11.5
- If key level can hold support then i'm looking for a push to 12 (200ema) then 12.5, 13 areas
- If key level cannot hold support then i'm looking for 11 (20ema) as next bounce area.
- Infrastructure play
- Stock making nice uptrend after breaking support at 11 where it was consolidating at for a few months
- I think we may see some more action with infrastructure news.
- We'll be looking for dips to add as I consider this a pumper play where smart traders sell the pumps. Don't FOMO!
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$XERS
- Key Level is 2
- If key level can hold support then i'm looking for a uptrend to begin with 2.25 as next resistance then 2.4 with 200ema at 3.3
- If key level cannot hold support then i'm looking for a retest of 1.90 then 1.80
- Multiple catalysts upcoming: Q3 ER Nov 10 then PDUFA date for Jan 1st
- Interesting consolidation at 2 here with high short float
- ER could clear the way for a nice push higher although that is 50/50, at least with ER out of the way we could see a PDUFA run up from these levels
- XBI pulling back to 200ema on daily looking for bio sector to go higher for here, in which case XERS is top watch
- Unless low volume ends look to sell the pumps on this one and re-enter.
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$ENDP
- Key Level is 6
- If key level can hold support then i'm looking for a move to 6.3 then 6.8 resistance areas.
- If key level cannot hold support then i'm looking for a pull back to 5.8 (prior resistance) then 5.2
- Recent news: "Judge rules for drug makers in Major Opioid litigation" then ER new "increase revenues by 22%" and "Raises Rev guidance for FY 2021
- Positive News Flow here looking for more upside or a least a nice volatile trading range the next few days
- Volume could be indicating a nice run up to previous highs around the 10 area.
- Break of 6.8 can see 7.8 real quick. Might also see a muted day on Monday to confirm support.
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