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Stocks To Watch – 9/25/2023

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Brief Overview

Hello Traders & Investors,

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

We’re back to another Weekly Market Brief & Watch List!

The SPY was hit pretty hard last week when Fed Chairman Powell took to the microphone 🎙️😬.  This week will be an interesting one as we see how far the slide will continue. With Powell on the docket to speak again on Thursday, patience will be key if we start to see a rebound in the early part of the week. 

Some notable names scheduled to report earnings this week include COST, MU, NKE, BB and CCL

Recent Winners Tracking

META…39% from 9/15
C… 34%
from 9/13
from 9/8
from 8/31
CAT… 51% from 8/29
META…111% from 8/29
DKNG…92% from 8/25
AAPL…59% from 8/25
AI…51% from 8/18
PYPL…37% from 8/17
*Max gain potential on options alerted so far/before expiration

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Weekly Learning Focus

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Market Brief

S&P 500 ETF (Ticker: SPY) – Daily Chart

As we mentioned in last weeks Watchlist the $443 level on the SPY was going to be a critical spot and the proceeding failure was as we had anticipated. Now sitting at the $430.42 mark, Monday morning will be interesting. If the spy gets heavy we could see support around the $426.50 level. If this support breaks to the downside we could be hitting the 200 SMA at $417 sooner than we think.

However, If the $426.50 level holds up and we see a bounce we will want to look for the SPY to show some confirmation by breaking over the $436 level of resistance. If we get this confirmation $445 wouldn’t be out of the question.

Charts Provided By: Finviz

Most Anticipated Earnings Releases This Week

Weekly Stocks to Watch

Here’s some of the stocks we have on watch for the beginning of the week…

As always, we’ll be heavily focused on our news feeds & scanners for prime opportunities throughout the week.

Alibaba Group (Ticker: BABA) – Daily Chart

Drained into the $85 range this week before a bounce on Friday. Will look for BABA and other China Names to make continuation moves. Upside targets for BABA would be +$90 to $95/96. But can definitely show more upside if the volume is there. If more rejection at $90 zone, use last weeks low as risk as it can fall right back there & possibly lower. (other related names PDD, JD, JKS, BILI, FUTU, TIGR)

Ionq Inc. (Ticker: IONQ) – Daily Chart

Looking for a possible bounce here using last week’s low as the risk zone. IONQ is heavily shorted and can move to the upside if bears are forced to cover. If $13.5 holds, look for a move back to retest $15. If $15 is not rejected, there could be a bigger move the the upside towards $17.5. If $15 doesn’t come or is rejected, and $13.5 breaks to downside look for a possible move to $12-11.

Draftkings Inc (Ticker: DKNG) – Daily Chart

Chart now looks bearish (until higher high is made). NFL season is underway, and the hype of the opening day has faded. We will see if DKNG fades back through the $20s after losing $30. For a short sided trade, use $30-31 as first resistance. If that is rejected, look for a downside move to test $25, if no support there and it falls look for $21-20 in the coming weeks.

Boeing (Ticker: BA) – Daily Chart

Strong consistent sell off, broke under $200 last week, which is a strong psychological level. Would watch the $200 level to see if there’s any bounce play there as there is 2023 support. Look for other defense names to make a move for long conviction such as RTX & LMT. For BA look for $200 to reclaim/hold, for a bounce to retest $205-208-215. If $200 doesn’t hold, or is rejected, there’s still room to the downside for a downside move to $193-190.

Tesla Inc (Ticker: TSLA) – Daily Chart

After hitting a high of $273.93 last week, TSLA took a step back into the $250s. Watching the $250 spot this week keep it simple. Will see if this level holds, if $250 holds, we anticipate a bounce in the coming days-weeks. Look to target $260-$270 ranges for exits. If $250 doesn’t hold, look for $240 and possibly lower if market continues to sink as well.

We have many other names on watch and we’ll continue to monitor our breaking news feeds and stock & option scanners to help make the smartest picks with the most potential throughout the week!

Weekly Market Calendar

Source: MarketWatch

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