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HT Weekend Watchlist- Small Cap Soars on Positive Data, TSLA Plunges 12% and more

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
January 28, 2024

Hi Humbled Traders,

Hello from Southeast Asia! Currently I’m writing from Vietnam and adapting to the late-night US market opening time. So far so good.

Overall another really good week in the market with notable earnings moves. Tesla loses $30 billion in market cap following the earnings drop. Even though the market had anticipated negative results (as shown on the daily chart), the poor guidance for 2024 is what surprised analysts.

Other notable earnings movers include Netflix, which is up 14% with subscription numbers jump, and IBM, with pricing hitting above $190 for the first time since 2013.

Small caps had a decent week, with notable movers with catalysts such as CRBP, RVSN, DWAC. We’ll discuss plans for potential secondary moves for these stocks later in the email below.

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CRBP $29.5

  • Fireworks of a mover ending the week on Friday. Up on positive data.

  • Leaning long biased if we continue trending and consolidating above 25.6 KL.

  • Potential upside to test 30’s highs again but not sure about new daily highs

  • There’s probably still a lot of shorts stuck in this.

  • Beware of ATM offering risk on this name. Do not outstay your welcome.

  • Position Disclosure: No Position

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RVSN $9.50

  • There were catalysts earlier last week, however, the news doesn’t seem to justify this much increase in a span of a few days.

  • The move is largely due to the low float.

  • Leaning cautiously bearish on this name against the 10-11s daily level.

  • However, if stock breaks through 11.3 daily highs the short is no longer valid.

  • Potential offering risk just like CRBP.

  • Position Disclosure: No Position

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AXP $201.43

  • Stock trading at new ATH’s after earnings and guidance report.

  • Lovely daily chart. Looking for continuation to join the trend for more upside if we can hold above 200 intraday KL. The previous ATH was 198.3.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Corbus Pharmaceuticals Holdings Inc. ($CRBP) Corbus Pharmaceuticals announces data from the study of CRB-701.
- How we traded: FHOD Breakout Long.

- PayPal Holdings Inc. ($PYPL) PayPal appoints new CEO and promises shocking innovation.
- How we traded: Backside Long.

- Digital World Acquisition Corp ($DWAC) Trump-related SPAC Digital World Acquisition soared after his Hampshire’s win and plunged as investors sold the news.
- How we traded: Extended Daily Short.

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📣 Tesla Q4 Earnings: Investors Will Have To Wait For A Rebound

Image Source: Tesla

Tesla's stock dropped over 12% after a weak Q4 earnings report, revealing lower profits due to price cuts impacted by high interest rates. Elon Musk explained that rising rates make it harder for people to afford cars, leading Tesla to reduce prices but with limited impact. Economic challenges also delayed a new gigafactory in Mexico, dependent on interest rate trends. The upcoming Cybertruck faces production challenges, acknowledged by Musk, who highlighted the difficulty of innovating in a unique product category.

💡 Market Sentiment for Tech Sector: Short-term Bearish. Leading analysts such as JP Morgan and Citigroup lowered their price targets for Tesla.

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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.