HT Weekend Watchlist - Trade Ideas for the Week

Humbled Trader's Weekly Stock Picks & Market Update

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Humbled Trader
July 07, 2024

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Data points provided by Stox.io scanner

TSLA $251.52

  • Very bullish long term downtrend break on TSLA stock. The stock finally regained daily 200SMA.

  • I think we could potentially see another 1-2 day breakout continuation on the stock with KL around $251-$252s on the daily.

  • Technically the stock has more room to the upside to $260-$263 area.

  • IF the stock fails to hold the daily KL multiple times, we could see a first red day major pullback set up.

  • Position Disclosure: No Position

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Notable: High short interest %

SIRI $3.71

  • I know… I can’t believe SIRI is on my watchlist too.

  • The stock is setting up for a beautiful daily 200SMA reject set up.

  • Leaning more bearish on this name. Daily KL to watch is $3.90-$4 area. If the stock rejects said KL next week, look for a first red day set up and pull back down to $3.50s and potentially below.

  • Position Disclosure: No position

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Notable: Lower float of only 5M

KOSS $15.66

  • This is one of the meme stocks that was awakened once more after speculations.

  • Daily KL is $15.6- $16 area. Staying neutral on this name.

  • If the stock retests KL next week and fails with lower lows and lower highs intraday, it’s a potential short candidate, especially if the hype and speculation dies down.

  • Please trade this name with caution. The stock is relatively easy to borrow and the float is low (5M).

  • Position Disclosure: No Position

🗞️ Market movers you might’ve missed:

- Tesla Inc. ($TSLA) Tesla stock surged amid optimism about Robotaxi and AI.
- How we traded: Day 2 Continuation Long

- Mediwound LTD ($MDWD) Mediwound jumps amid report of $34 per share takeover from Solventum
- How we traded: Former High-of-Day Long

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📣 Tesla Up Eight Consecutive Days - Here's What Happened.

Tesla has been on a bullish movement after months of dips and consolidation at 170-180s. Investors are optimistic about the upcoming robotaxi-focused event scheduled for August 8th, anticipating a significant milestons for Tesla's self-driving technology.

Analysts have also labeled Tesla as the most underrated 'AI stock' given its commitment in AI products such as the Optimus humanoid robot. Many also anticipate the company to report an increased EV sales in their Q2 earnings release.

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