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HT Weekend Watchlist - Stocks on Watch for Next Week

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
March 31, 2024

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CZOO $12.00

  • The stock has climbed over 300% with no significant news that we could find.

  • Looking for more follow-through to the downside next week if we reject and stay below 14.6s KL.

  • However if the stock reclaims over 14.6-15, the short thesis is no longer valid. We could see another trap and squeeze.

  • Position Disclosure: No Position

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IBIO $4.06

  • Despite the overnight gap up on Friday, the stock was unable to sustain its breakout move and closed relatively unchanged from opening price.

  • Leaning neutral on this name. Key daily level is 4.

  • If the stock consolidates 4 and start forming higher lows and higher highs on daily, we could see more follow through to the upside.

  • If we breakdown and hold below 4, the stock could decline back to 3s.

  • Position Disclosure: No Position

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RDDT $49.32

  • The stock sold off extremely heavy for multiple days due to insider sales post IPO.

  • If the stock gaps up next week, look for potential failed breakout once again and more follow through to the downside.

  • Staying cautious on this name looking at 52.4s key level.

  • Position Disclosure: No Position

AVTX $21.75

  • Small cap name with a significant financing and acquisition news on Friday. However the stock was unable to hold most of the breakout gains.

  • Staying neutral on this name. Key level will be the same breakout intraday level around 26. This was the level that it was unable to hold on Friday.

  • IF it’s able to reclaim that KL early next week, we could see a potential push to prior highs near 30+.

  • However, if it fails KL, especially after multiple attempts, the, the stock is no longer a candidate for longs.

  • This is a microfloat name and extremely risky for both sides.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Viking Therapeutics Inc ($VKTX) Viking Therapeutics reports Phase 1 results of VK2735 in obesity.
- How we traded: Extended Daily Short.

- Micron Technology Inc ($MU) Micron Technology Inc hit new all-time high stock price following its recent positive earnings report.
- How we traded: Trend Join Long.

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📣 Is REDDIT ($RDDT) The Next 10X Meme Stock?

Reddit’s recent IPO has sparked speculation about its role in an AI-driven market surge, with an impressive 48% stock jump on day one. The platform aims to leverage its extensive user data to venture into AI, eyeing revenue growth through data licensing for AI models.

However, this strategic pivot comes with its share of challenges. Despite a promising revenue uptick, Reddit is still navigating financial losses and the unpredictable terrain of AI innovation.

The excitement around AI’s potential must be tempered with caution, as Reddit’s ambitious AI strategy is still unproven and fraught with speculative risks. Investors eyeing Reddit as a catalyst for the next AI boom should weigh the platform’s prospects against the uncertainties of the evolving AI landscape.

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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.