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HT Weekend Watchlist - Stocks on Watch for Next Week

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
April 21, 2024

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MNDR $27.27

  • Recent IPO name that has been slowly breaking with with consistent volume.

  • If the stock continues to hold and trend above the $27 key level, it’s bullish and could potentially lead to another one or two day breakout.

  • Looking for dip buy opportunities along uptrend if the KL holds up.

  • The daily looks very similar to the DXYZ chart before its big breakout to $100.

  • Position Disclosure: No Position

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INDO $5.03

  • Recent low float runner that is now reclaiming the daily uptrend after a two-day sell-off.

  • Staying neutral on this name. While long term daily chart is bearish, this is a ticker that could be played on both sides.

  • If the stock can gap and hold above $5 daily key level, we could potentially see a retest of $6’s once more, especially if the energy sector stays strong.

  • Position Disclosure: No Position

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CGC $7.93

  • Few weeks ago we mentioned the broad cannabis sector for potential watch for continuation. Since then it’s sold off but now showing signs of reclaim of trend on the daily.

  • We’re bullish if the stock is able to reclaim $8.10 daily key level.

  • Above that this is on watch for potential day trade as well as swing trade as long as the daily uptrend holds up.

  • If KL holds up, the stock has upside towards $10 and higher once again.

  • Position Disclosure: No Position

NVFY $2.76

  • Recent low float runner that had reported earnings a couple days ago.

  • Staying cautiously bearish on this name due to the long term downtrending chart.

  • If the stock retests the daily key level of $3-$3.10 area and fails, we’ll be looking for spikes and downtrend to short into.

  • Downside potential this stock has is to $2.50 and potentially lower towards $2.10.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Bio Path Holdings Inc ($BPTH) Bio-Path Holdings announces successful completion of higher dose second cohort in Phase 1/1b Clinical Trial.
- How we traded: Former High-of-Day Long.

- Cullinan Therapeutics Inc. ($CGEM) Cullinan Therapeutics to pursue development of CLN-978 in Autoimmune Diseases, with Systemic Lupus Erythematosus as first indication; discontinued enrollment in its B-NHL study to focus ongoing development on autoimmune indications.
- How we traded: Extended Daily Short

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📣 Netflix Stock Tumbles After Earnings Report (What You Should Know)

Netflix stock dropped significantly after the company provided a lower-than-expected revenue forecast for the second quarter and announced it would stop disclosing quarterly subscriber numbers starting in 2025. Despite reporting better-than-expected first-quarter results, the company's soft revenue outlook and reduced disclosure alarmed investors. The decision to focus on revenue and operating margin instead of subscriber numbers was explained by Netflix's co-CEOs, who highlighted engagement as a better measure of customer satisfaction.

💡Market Sentiment: Short-Term Bearish. Wall Street analysts expressed concerns about the lack of visibility into key performance metrics, with some viewing it as a sign of the company's maturing business. Despite the negative reactions, some analysts maintained or even raised their price targets for Netflix stock, albeit with reservations about the company's reporting changes.

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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.