Stocks To Watch – 9/16/2024

Brief Overview

Hello Traders & Investors,

Scroll down to see the stocks we have on watch this week !

Back in familiar territory this week as the markets caught a wild rebound last week. We’re excited to get back to the action and see where we go from here. With a Federal rate cute “likely” this week, we could see action heat up into the second half of September.

Let’s take a look at the events of last week that influenced the bounce. 

Tech Stocks jumped on Monday with Oracle making a new all time high after reporting earnings. 

On Tuesday, tech-heavy indexes ended the day green while banks struggled on talks of cautious outlooks. 

CPI data reported on Wednesday was encouraging enough for the Fed to follow through with plans to cut rates, however, the market now expects a 25 bp cut rather than the 50 bp cut previously anticipated. 

Stocks continued higher with CORZ getting a pop in the Crypto mining space. ADBE and MRNA failed to impress with earnings. 

Stocks closed the week strong on Friday with IWM catching up to larger-cap indexes. BA continued to hit the dirt like their quality control. 

A couple names from previous watchlists that were not alerted to members ended up being excellent setups. As a reminder, we do our best to send these alerts out when the setups are presenting themselves, however, we’ don’t catch everything! It’s important to keep eyes on the names and levels we have on watch! Check out the charts on these past Watchlist names and see how they followed the plan.

RDFN (from 2 weeks ago) – “If Bulls hold $9 look to upside moves towards 10 – 10.5 – 11 – 11.75. RDFN could really see some upside if there’s a move over $12 to $14-18.”

NVDA – “we see an excellent risk:reward if $102.5 holds. Short term targets $105 – 107.5 – 110 – 117 – 125.”

Be on the lookout for Fed Chairman Powell’s press conference scheduled for Wednesday.

Now let’s get into the week ahead!