HT Weekend Watchlist - Trade Ideas for Next Week

Humbled Trader's Weekly Stock Picks & Market Update

Author

Humbled Trader
September 22, 2024

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Notable: High short interest %

LUNR $9.15

  • This was a stock that was in play last month. It recently made new highs after being awarded another NASA contract.

  • The KL to hold for the stock is the $8.8s area, which is also acting as the current daily consolidation zone.

  • Ideally, we see a pullback on this stock and reclaim the KL next week to confirm more potential upside.

  • If the stock holds KL, we could see it consolidate and move another leg up, especially if the market continues to climb next week.

  • Position Disclosure: No Position

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Data points provided by Stox.io

INTC $21.84

  • The stock finally started to show signs of a daily range breakout after some positive catalysts: new partnership with AMZN, and a potential takeover bid from QCOM.

  • The key level to watch is the clear daily res of $21.8 area.

  • IF the stock is able to break above that KL and consolidate, we could see a daily trend reversal to the upside.

  • This is a potential day trade and swing idea. However, please stay informed about the takeover rumor, as the resolution will move the stock price up or down.

  • Position Disclosure: No position

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Data points provided by Stox.io

META $561.58

  • Stock made new all time highs after unveiling new AI features.

  • Ideally we wait for a pull back on META back to previous breakout levels, and wait for a consolidation for more upside.

  • The KL to watch is $542-543 range. If it holds this new ATH breakout, we could see more continuation higher.

  • This is a potential swing trade idea.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Galmed Pharmaceuticals Ltd. ($GLMD) Galmed Pharmaceuticals announced that it had regained Nasdaq compliance.
- How we traded: Former High of Day Long

- Tesla Inc ($TSLA) Tesla’s stock rallied after rate cuts.
- How we traded: Backside Long

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Congratulations to our fellow HT community member, Guille!

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📣 Fed Cut Interest Rates. Now what?

The Federal Reserve aggressively cut interest rates by half a point, marking the first reduction since March 2020. This move aims to lower borrowing costs and signals urgency to support the U.S. economy, which has faced elevated borrowing costs due to a prolonged inflation fight. Fed Chair Jerome Powell emphasized that this decision reflects a proactive stance, not a reactive one. However, the rate cut wasn’t unanimous, with Fed Governor Michelle Bowman advocating for a smaller reduction.

Despite these efforts, concerns remain about rising unemployment, which has climbed to 4.2% and is expected to rise further. The Fed projects more rate cuts by the end of the year. Inflation has eased significantly since its peak in 2022 without causing a recession, which reflects the Fed’s delicate balancing act of controlling inflation while avoiding severe job market disruptions. Powell maintains optimism about the economy’s strength, though he cautions that the labor market is no longer as tight as before the pandemic.

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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.