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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 14, 2024

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INDO $4.94

  • Former low float runner with high insider ownership.

  • It’s the first time in a year the stock had any significant volume breakout. This move could potentially have one or two more days of follow-through.

  • Staying cautiously bullish on this name IF it’s able to consolidate above $5 KL early next week.

  • Underneath $5 KL, the stock would be weak and is no longer a good candidate for longs.

  • Position Disclosure: No Position

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RENT $19.23

  • This stock took short sellers for a wild ride last two days. Short locates were inexpensive in various sources, which contributed to more short traps.

  • Short term we think there might be at least one more squeeze left for them to work out the short sellers.

  • Staying neutral on this name for now. If the stock retests $23 daily key level multiple times and fails, we’ll start looking at the short side. If it unwinds, it has more downside to the teens.

  • This is a lower float stock. Please trade with caution and proper risk management.

  • Position Disclosure: No Position

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GL $59.20

  • Massive -50% unwind on this name after a notable short research firm accused them of insurance fraud.

  • The stock had started getting bought back up late day Friday. We could potentially see more technical bounce early next week.

  • Please double-check that no more follow-up news on the short report is revealed next week. If new negative report is published, the stock will most likely sell off even more, making it undesirable for longs.

  • IF the stock can break through $57.8 highs from Friday, look for potential trend join long setups to the upside.

  • Position Disclosure: No Position

CNXA $1.50

  • This penny stock had started rallying up last few days with no news.

  • Staying neutral on this name for now. IF the stock can hold above its $1.24 KL, and sustain the RVOL increase next week, we could see more parabolic breakout to the upside.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Taiwan Semiconductor Mfg. Co. Ltd. ($TSM) U.S. Commerce Department said it would award the company's U.S. unit a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona.
- How we traded: Gap Up Reversal Long.

- Acrivon Therapeutics, Inc. ($ACRV) Acrivon Therapeutics shares are trading higher. The company announced a $130 million private placement financing.
- How we traded: Extended Daily Short

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📣 Oil & Defense Sectors On-Watch

Recent events between Iran and Israel have escalated. On Friday, significant stock trading volumes were observed on companies involved in the defense industry, like Paragon Technologies (symbol: PRZO) and Indonesia Energy Corporation (symbol: INDO). These companies often see their stock prices influenced by geopolitical tensions and conflicts. While INDO focuses more on the energy sector, PRZO operates within the broader defense and automation sectors, making it more directly responsive to defense-related news.

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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.