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HT Weekend Watchlist - Stocks on Watch for Next Week

HT Weekend Watchlist - Stocks on Watch for Next Week

Humbled Trader's Weekly Stock Picks & Market Update

Humbled Trader
February 25, 2024

The highly requested options trading course is now the newest addition to the Humbled Trader PRO membership!

What’s new?

Step-by-step options trading video lessons to shorten your learning curve.
Progress quizzes to ensure learning retention.
Real-time options trading guidance in our Humbled Trader Discord Community.
Ongoing options trading mastermind and mentorship sessions!

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LUNR $9.59

Stock ran up recently after a highly anticipated private moon landing event. However, stock tumbled afterhours on Friday.
Staying neutral on this name since there are likely going to be more press updates. Key level will be 9.25 daily level.
If stock can consolidate KL for multiple days, we could see a retest of highs.
However, if stock breaks down KL early next week and is unable to reclaim, it could be the start of a “sell the news” event.
Position Disclosure: No Position

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CVNA $69.23

Big gap up on this name after reporting its first profitable quarter.
This stock is highly shorted. It’s estimated that around 30% float is short.
IF the stock able to reclaim intraday KL 70.8 from Friday, look for a potential squeeze and breakout to new highs.
However, if stock breaks down KL and below Friday’s lows, expect more sell-off off especially if the entire market pulls back.
Position Disclosure: No Position

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AXTI $386

Small cap name gapping up after earnings report.
Leaning neutral on this. If stock sells off 3.8-4 KL, expect to see more sell off, potentially the entire gap.
Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- NVIDIA Corp ($NVDA) NVIDIA shares gapped up to new all-time high following a strong Q4 revenue increase.
- How we traded: Gap Up Reversal Long.

- Intuitive Machines Inc. ($LUNR) Intuitive Machines saw significant stock growth due to their moon landing news.
- How we traded: Former High of Day Long.

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📣 Is NVIDIA set to break $1000 soon?

Rafael Henrique/Sopa Images/Lightrocket | Getty Images

Nvidia, the leader of semiconductor makers, continues its bullish momentum into 2024, after reporting a remarkable 265% year-over-year growth in fiscal fourth-quarter revenue. $NVDA shares have surged over 55% year to date.

Following Nvidia's stellar quarterly results, numerous analysts have significantly increased their 12-month price targets for the stock, some projecting targets exceeding $1,100, reflecting the bullish sentiment surrounding its growth potential.

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