Tesla ( NASDAQ:TSLA ) may have a rough week next week during the March 2022 Federal Reserve meeting and OpEx. While it showed life today, there is resistance at the 200 EMA (green line). If this mini run continues, I expect further resistance at the $890s or near the 50 EMA (low $900s; yellow line). A break through the 50 EMA = bullish run and a break in the...
Arista Networks ( NYSE:ANET ) with a head and shoulders pattern and large gap to fill below. Insiders continue to dump shares. In the past two months, they sold $132 million worth - $75 million of this total just in the first 7 days of March (source: OpenInsider). P/E 45.80x With the Federal Reserve meeting and OpEx next week, this may gap fill and retest...
Moderna ( NASDAQ:MRNA ) is in a falling wedge with no signs of escaping (yet). While it may have a small pop if there is good company news, the COVID-19 buying spree may be truly over. The COVID-19 pandemic will soon be an endemic and the market may shift fully away from "COVID-19 tickers". Insiders continue to dump shares. Since the start of 2022, insiders have...
Switch NYSE:SWCH : Valuation: Price/Earnings: 576.09x Price/Sales: 10.99x Price/Book: 19.69x Price/Cash Flow: 52.83x Based on some of the numbers alone, Switch may not sustain its price above the gap ($20.28 to $22.96) in the coming months as inflation rises. If it breaks resistance and goes on a run to create a new high, thesis is broken.
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...