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HT Weekend Watchlist - Crypto Stocks "Sell the News" and more

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
January 14, 2024

Hi Humbled Traders,

This has been an interesting week. SEC approves Spot Bitcoin ETF’s, Nvidia announces mass production of China-focused AI chips, US banks kick off Q4 earnings season with disappointing results.

Crypto stocks and NVDA have been our main focus for the past week. The “buy the rumor sell the news” event this week has provided many great opportunities for both sides. We’re also expecting more continuation early next week.

Below are some of the stocks we’re watching for next week.

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MARA $18.98

  • Continued selling pressure last two days after the Spot ETF approval.

  • We could see one more major leg down to the 16-17s daily level before any significant bounce happens.

  • Two ways to play this: IF there’s a retest of 19-20s area, look for short entries to join the downtrend to daily KL.

  • IF we see a major gap down early next week to the mentioned KL, I’d be inclined to look for reversal signals for a technical bounce.

  • Looking for similar set ups on other crypto names like COIN.

  • Position Disclosure: No Position

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AUVI $4.5

  • Long-term bagholder chart on this name.

  • Leaning short-biased if the stock stays below 4.5-5 early next week.

  • Note it’s possible volume can drop off completely next week and this name becomes not suitable for trading.

  • Position Disclosure: No Position

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ARDX $9.03

  • Small cap name with a few positive catalysts past week.

  • Daily consolidation starting to form with decent volume.

  • Follow to seeIF stock is able to break through recent res around 9.3 KL.

  • IF the break is successful, we can potentially see another leg up toward 10.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Sentage Holdings Inc. ($SNTG) Sentage Holdings Inc’s stock surged 85% during pre-market without any news or press releases.
- How we traded: Bagholder Daily Short.

- SEALSQ Corp. ($LAES) SEALSQ Corp. launches 'on-Package' semiconductor provisioning service.
- How we traded: FHOD Breakout Long.

- NVIDIA Corp. ($NVDA) Nvidia stock hit new all-time high as the company released plans to produce new GPUs and other AI-related offerings.
- How we traded: Gap Up Reversal Long.

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📣 Bitcoin ETF Approved: Load Up Now or Sell The News?

A long-awaited event for the crypto investors finally arrived this week. The SEC allowed several digital asset ETFs including BlackRock’s iShares Bitcoin Trust (IBIT) to be listed.

After surging past $49,000 and making a new 52-week high, BTCUSD dropped below $42,000 on Friday since the ETFs went live.

💡 Market Sentiment: As with any highly anticipated development, traders need to consider whether we are experiencing a “buy-the-rumor, sell-the-news” event.

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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.