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HT Weekend Watchlist - Apple AI Train, Caution for Small Cap Stocks

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
June 16, 2024

Hey traders!

This is a friendly reminder that as we get deeper into the summer season, you will see less and less ranges for small cap stocks (and sometimes even large caps). It’s likely that you’ll see premarket gappers just spike and fade.

June to August are typically the slowest months for stock traders with the least amount of volume. For day traders this could be a difficult time, so many just take the entire summer off for vacation.

So if you don’t see a lot of potential stocks in play on your scanner, stay cautious and don’t force trades. I’ve seen too many traders lose their account slowly but steadily during the summer months because they don’t know when to take it easy.

I did as well during the first 2 years of my career, so I learned my lesson. With that said, let’s dive into the stocks I’m watching for next week.

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Data points provided by Stox.io scanner

AAPL $212.50

  • Apple has regained its position as the most valuable company in the world, after announcing Apple AI.

  • I missed the swing entry on this name. Right now I’m looking at a daily KL of around $208 for potential swing and day trades.

  • Leaning bullish on this name and looking for a reasonable pull back for entries for a bounce, or join the trend higher.

  • Position Disclosure: No Position

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NNE $9.37

  • Recent energy IPO name that is testing all time highs after uptrend consolidation on the daily.

  • Staying neutral on this name for now. The key level to watch is $9.50s.

  • IF the stock can break above KL and start trending intraday, it’s a potential breakout long to new highs.

  • Look for relative daily volume to follow through early next week. Without comparable volume its unlikely that the breakout is sustainable.

  • Position Disclosure: No position

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Notable: HIGH short interest 33%

KAVL $5.96

  • Dangerous microfloat name. Only trade with extreme caution and risk management.

  • This stock has a history of selling off day 1 breakouts quickly.

  • Leaning short biased with key level of $7-$8 big range in mind. If the stock retest that resistance range and fails next week, it’s a potential short on LOWER HIGHs after selling volume kicks in.

  • Above $8 the stocks is no longer a short and requires strict stop out.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Apple Inc. ($AAPL) Apple’s stock gapped up after announcing new AI-driven ecosystem.
- How we traded: Gap Up Reversal Long / Trend Join Long

- Crowdstrike Holdings ($CRWD) The company announced bullish earnings beats, breaking new all-time high stock price.
- How we traded: Event-driven Swing Trade

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📣 AI-Driven Surge Brings $AAPL To New All-Time High

Apple Inc's stock recently reached an all-time high following the introduction of Apple Intelligence, featuring generative AI tools to enhance user engagement. This could boost Apple's revenue as iPhone and Mac sales recover and services revenue grows. The company also regained its position as the world’s most valuable company.

🔍 Bullish or Bearish?

Despite the AI-driven surge, regulatory challenges and a maturing business model pose risks, potentially making the stock overvalued. It might be premature to buy more stock, however, the consumer tech giant is still a long-term bullish stock candidate.

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Short Interest % & Total Shares Short are now live!

Stox.io has secured the most extensive market data on short interest, and TOTAL shares short. These data are refreshed daily, compared to most other sources that are at least 2 weeks delayed.

GME Short data on June 12, 2024

GME Short data two days later on June 14, 2024

Why is Short Interest important?

Many recent runners like GME and FFIE were able to squeeze hundreds or even thousands of percent, because they were highly shorted.

This is a critical factor to certain stocks breaking out aggressively and squeezing for hundreds of percent! While a high short interest does NOT guarantee that a major short squeeze is coming, it can play a major contributing factor.

PRO TIP: When scanning for potential small cap runners, assess if their short interest is above 20%-30%

We will be sending out FREE mid-day stock scans via Stox.io newsletters. The newsletter is free to sign up. You will receive Discord access, free video lessons, new feature releases, promos & more!

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Email Disclaimer:
The Watchlist Emails are NOT trade alerts to buy or sell. We are not financial advisers. The above information is for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. We are merely sharing our opinion with no guarantee of gains or losses on investments. You accept our Terms and Conditions.