• Humbled Trader
  • Posts
  • HT Weekend Watchlist - GME's failed short squeeze, NVAX & more gappers

HT Weekend Watchlist - GME's failed short squeeze, NVAX & more gappers

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
May 12, 2024

Hey traders!

Hope you’re having a great weekend so far. Thank you so much for your overwhelming support and interest in my very own stock scanner, Stox.io.

As a big thank you, starting today I’ll be providing you Stox.io screenshots of some of the most essential market data points for each ticker we put on the weekend watchlist.

These key data include float, insider %, institutional ownership, dollar volume and more.

These data points are crucial in analyzing the right stocks to trade, and should be part of every trader’s premarket planning process.

Not sure how to use these data points? Check out this video I made just for you.

Now let’s dive into some of the stocks and trade ideas I’m watching with the team for next week.

‎

‎

Data points provided by Stox.io Scanner. Captured AH 20:00pm ET Friday

GME $17.46

  • A “short squeeze” has been broadly discussed by retail last week. However on Friday, instead of continuing the momentum, we saw a failed breakout candle.

  • The key level to watch will be the intraday $18 area. It’s best to stay neutral but be prepared for both sides.

  • IF the stock is able to reclaim KL midday after a morning sell-off, look for a potential consolidation long breakout set up.

  • However, if stock tests KL but fails multiple breakouts, the stock is viable for a short. We could see potential capitulation towards $16s.

  • Position Disclosure: No Position

‎ 

LIDR $2.58

  • Low float name with a history of multi-day breakouts.

  • Judging from Friday’s price action, the stock had accumulated a decent amount of shorts.

  • Staying cautiously bullish on this name IF the stock can maintain the $2.5 KL.

  • Looking for a continuation of trap and squeeze out the remainder shorts.

  • Upside is limited around the $3 key resistance.

  • However, if the stock gaps down below KL early next week, it’s no longer viable for a long. It would be a candidate for a fade lower instead.

  • Position Disclosure: No Position

‎‎-

NVAX $8.88

  • This is the first time in a while that we see this stock gap up again. This time on pretty significant vaccine deal.

  • Watch out for the high institutional ownership on this name. It tends to grind and trap.

  • Staying neutral on this name. The big gap up and sell off on Friday looks like an overreaction.

  • Watching if KL around $9 will hold up early next week. Do not anticipate. Let the stock show you it’s basing around KL consolidation. If it confirms, look to join long on the reversal trend above KL.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Reborn Coffee Inc. ($REBN) Reborn Coffee announces expansion into China market through MLA with IAID.
- How we traded: Former High-of-Day Long.

- Apple Inc. ($AAPL) Good ER - but Warren Buffet sold 13% and it’s overextended, showing weakness. iPhone sales were lower than expected.
- How we traded: Extended Daily Short

‎

Ready to Elevate Your Trading in 2024?
Check out the Humbled Trader community!

Trade alongside and engage in market discussions with like-minded traders, and learn from our team of experienced trading coaches.

  • NEW Options Course: A comprehensive course on Options Trading.

  • Humbled Trader Academy: Access exclusive educational resources on all things day trading, curated by Humbled Trader herself.

  • Premarket Planning Sessions: Plan your strategies effectively with daily premarket planning sessions.

  • Weekly Webinars: Stay informed and gain insights from expert-led weekly webinars and Q&A sessions.

  • Strategy Focus Chatrooms: Connect with our dynamic community in real-time for valuable insights and guidance… and more!

Your success story could be featured in one of our next “Top Trades of the Week” showcases! Learn more about our community and what we offer by clicking the button below.

‎

Check out our new Stock Scanner: Stox.io
Sick of paying for expensive, inaccurate stock scanners? Me too! That’s why I’ve spent the last 6 months working with developers to create Stox.io, a brand-new stock scanner.

  • Real-Time Data: Say goodbye to delayed and inaccurate stock data.

  • Seamless Experience: Accessible on any browser or device with just a click – no downloads required.

  • User-Friendly Interface: Enjoy a fast and simple scanning experience tailored for traders.

  • Affordable Alternative: Tired of spending thousands on premium scanners, we've created an affordable option.

Don’t miss out on our exclusive 40% discount, available for a limited time!

‎

Check out our latest video!

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.