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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
March 17, 2024

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GCT $43.15

Stock at new 52 week highs after earnings report.
Leaning bullish on this name. Daily KL is 43.3s.
If it’s able to start consolidation above KL 43.3s early next week, we could potentially see it gap fill to the upside towards 50s.
Position Disclosure: No Position

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GERN $3.36

Decent catalyst for this small biotech name. Good volume breakout on Friday as well.
Staying bullish only IF the stock can break through new highs through 3.5 KL.
Potential upside we could see 3.7- 3.8. This is a smaller range and lower volatility stock.
However, if it rejects daily key level then it’s off the table for long plays.
Position Disclosure: No Position

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CDLX $14.50

Stock rallied up late last week after earnings report beat. It has technically filled the gap from the big drop last November caused by bad earnings.
Leaning neutral on this name, since the gap had been filled already. Now we need to see whether the stock holds that key gap level around 14.50.
If stock is able to start trending above the KL we can potentially see more daily highs.
Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- PDD Holdings Inc. ($PDD) Jefferies Analyst upgraded PDD Holdings to Buy from Hold, and raised the price target to $157 from $117.
- How we traded: Gap Up Reversal Long.

- Gaxos.AI Inc. ($GXAI) Gaxos.AI acquires rights to AI-enabled tech from biohacking app.
- How we traded: Former High of Day Long.

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📣 PPI Report Summary: Stock Indices Reversed Lower Amid Hotter-Than-Expected Inflation Data

Overall Producer Price Index (PPI) increased by 0.6% in February, up 1.6% annually, higher than expected.
Core PPI, excluding food and energy, rose by 0.3% monthly, with a 2% annual increase.
Initial unemployment claims decreased to 209,000 from the previous week's 217,000, beating the expected 215,000.
U.S. retail sales rose by 0.6% in February, below the estimated 0.7%, but an improvement from January's 0.8% decline.

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