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HT Weekend Watchlist- New All Time Highs for AI Movers, Low Float Short Squeezes Galore

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
February 11, 2024

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ARM $115.21

  • Stock surged on surprise earnings beat and strong guidance.

  • This is part of the AI craze. As long as the sector continues to uptrend, we could see the stock continue to more all-time highs.

  • Note the recent volume is the highest since IPO last year. Much of this momentum has been due to a short squeeze.

  • Looking to long dips along that 110-112s intraday level to join the trend.

  • Position Disclosure: No Position

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SMCI $740

  • This stock is starting to look extended (even more so than NVDA).

  • Only looking for dips to long in order to join the trend, similar to the ARM idea.

  • Watching daily support areas closer to 670s as key levels for entries after pull back.

  • Do not chase long on this name. There could potentially be a sharp fall if the entire AI sector pulls back.

  • Position Disclosure: No Position

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TOP $5.40

  • Long time downtrending chart that gapped up recently with the low float China theme.

  • Leaning short-biased on this name. IF stock bounces back to test 6- 6.50s key level, I’d look for a potential short entry to continue the trend down.

  • If trading this thin name, must respect hard stops over key level around 7.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Spotify Technology SA ($SPOT) Spotify Technology Q4 2023 GAAP EPS $(0.39) misses $(0.05) estimate, sales $3.67B miss $3.72B estimate.
- How we traded: Extended Daily Short.

- Intelligent Bio Solutions Inc. ($INBS) Intelligent Bio Solutions stock ripped higher after the company reported revenue growth.
- How we traded: Former High of Day Long.

- Arm Holdings ($ARM) Arm Holdings stock price surged after massive earnings beat.
- How we traded: Gap Up Reversal Long.

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📣 ARM Holdings Destroyed The Market After Massive Earnings Beat

Arm Holdings (ticker: $ARM) had a great fiscal Q4 in 2023, beating analyst predictions for both revenue and earnings. This success is thanks to the widespread adoption of Armv9 technology, increased market share, and the improving semiconductor market.

Looking ahead, Arm anticipates further growth with higher revenue and earnings projected for the next quarter, fueled by its involvement in AI and strategic expansions.

💡 Market Sentiment: Bullish. Arm's strong earnings demonstrate its readiness to take advantage of the growing GenAI trend.

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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.