Watchlist 2023-02-07 #LAC #TAL #ATVI #CHGG #LAC
SPY had an atypical session yesterday ranging only 0.7% as the market awaits Powell's planned speech today at 12:40 ET. No bias for today until the market digests the contents of the speak and chooses a direction. In the grand scheme, we are amidst a healthy low volume pullback still above key levels.
Capitulation trades: TAL, ATVI, CHGG
TAL - Capitulation Day 2 - We see the down days getting larger and larger until yesterday we had a blow off bottom below a key 6.50 pivot with <2 RVOL. If it can get above this level, this has potential for a swing long. Being mindful of the 200 day MA a 6.64. watching EDU as the sector leader for strength.
ATVI - Capitulation Day 2 - sellers were anticipating a bad earning report and that the UK might block the MSFT deal. However, double beast on earnings is now putting and shorts underwater with a complete reversal in the PM. If it can stay above 73.45 it has room to 75 if it can break above PM high of 74.
CHGG - Capitulation Day 1 - have to see a blow off on high RVOL below 15.75 and quickly reclaim that level to be valid. Plenty of room to move higher if all the sellers are out.
LAC - favorable court ruling on Thacker Pass lithium mine which can now continue construction - huge news. Gap and go at 25.46 if there is selling in the morning. Breakout long above 26.45 on strength. Room to 29, great potential for a swing long.
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, typically with news catalysts
Capitulation trades: TAL, ATVI, CHGG
TAL - Capitulation Day 2 - We see the down days getting larger and larger until yesterday we had a blow off bottom below a key 6.50 pivot with <2 RVOL. If it can get above this level, this has potential for a swing long. Being mindful of the 200 day MA a 6.64. watching EDU as the sector leader for strength.
ATVI - Capitulation Day 2 - sellers were anticipating a bad earning report and that the UK might block the MSFT deal. However, double beast on earnings is now putting and shorts underwater with a complete reversal in the PM. If it can stay above 73.45 it has room to 75 if it can break above PM high of 74.
CHGG - Capitulation Day 1 - have to see a blow off on high RVOL below 15.75 and quickly reclaim that level to be valid. Plenty of room to move higher if all the sellers are out.
LAC - favorable court ruling on Thacker Pass lithium mine which can now continue construction - huge news. Gap and go at 25.46 if there is selling in the morning. Breakout long above 26.45 on strength. Room to 29, great potential for a swing long.
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, typically with news catalysts