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HT Weekend Watchlist - Trade Ideas for Next Week 📈

Humbled Trader's Weekly Stock Picks & Market Update

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Humbled Trader
July 14, 2024

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Notable: High short interest % (data points provided by Stox.io scanner)

LCID $4.25

  • Stock rallied up after CEO mentions raising more money for growth, as well as discussions with EV tech licensing.

  • Very bullish technical breakout the stock as well over 200 daily SMA.

  • Intraday key level from Friday is around $3.9 - $4 range. Look for potential pull back consolidation next week to join trend.

  • We may see the stock pull back next week, however as long as it holds above 200SMA, the stock could continue its upside momentum into earnings in August.

  • Position Disclosure: No Position

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Notable: High short interest %

SOUN $6.20

  • Beautiful daily range break over the $6.10 key level resistance.

  • Company announced last Thursday that their AI voice chat is now integrated with ChatGPT, and in production in various European auto brands.

  • Technically the stock has more room to the upside to $7-$7.50 area.

  • Position Disclosure: No Position

ZAPP $11.50

  • This was on our short swing idea list. However the high short locate cost and overnight fees made the idea not feasible. It’s still valid for day trading short ideas.

  • Looking for a slow fade below $12.30 KL and below Friday’s LOD. Once those levels breakdown, the stock could slowly head south towards $8 and potentially lower.

  • Position Disclosure: No position

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Notable: Micro-float of only 914K

IVP $10.57

  • This is a very volatile and risky stock. Please properly do your trade planning and risk management.

  • KL to look at next week is $9.8-$10 range.

  • We are neutral on the name. If its able to sustain a similar amount of relative volume and hold above KL, we could potentially see a push higher to the teens.

  • However, if it gaps down and breaks below KL, it may not be viable for any trades at all.

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Zapp Electric Vehicles Group Ltd ($ZAPP) Zapp EV Group received an additional investment of $50MM.
- How we traded: Former High-of-Day Long / Bagholder Daily Short

- Tesla Inc. ($TSLA) TSLA formed an uptrend on the daily chart.
- How we traded: Trend Join Long

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📣 Trump’s effect on the markets

During a campaign rally in western Pennsylvania on Saturday evening, gunfire erupted while former President Trump was speaking. He sustained a minor injury to his right ear from the shots fired. The Secret Service immediately surrounded him and swiftly escorted him off stage.

Following the event, a short-term bullish price action was observed in the crypto market. Bitcoin, the leading cryptocurrency globally, saw an increase in its value on Sunday following an attempted assassination. By 10:12 AM UAE time, it was trading 3.84 percent higher at $60,249.42. Ethereum also rose by 2.09 percent to $3,198.18 compared to the previous day.

Reflecting on the market shock on the cryptocurrencies, investors may anticipate a gap-up in the stock market on Monday.

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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.