The bulls made a solid stand today after nearly breaking some key levels to start the trading day. At one point, early on in the trading day, $TSLA looked like it was heading straight for $200, and possibly below. Then we get word of Auto tariffs being delayed, and everything zooms higher. Even the $UBER & $LYFT.
Indeed, the is the type of news driven market we are in, all while fake meat is leading the charge– $BYND. I hate fake meat by the way. I’ve never tried it nor will I ever try it. Please don’t convince me, I like my Boudin too much. Thank You.
Oil is trading up a bit here in the after hours session, which is likely the key to this rally. So long as oil trades higher, so will stocks. Be very careful should you see crude start to sell off.
As for where the momentum is, it still lies in the recent iPOs. That damn $ZM is a beauty, and must be monitored here. Here are the top movers on our momentum screen in Exodus. The full list from members can be found HERE.
Here’s a look at the stocks who saw a big positive jump week over week in their underlying hybrid score. I’ve imported the list from Exodus to finviz for your viewing pleasure. CLICK HERE to review the full screen in it’s entirity.
My favorite setups from the screen can be found below:
This $UBER iPO is very reminiscent of the $FB iPO, too much supply. Props to the company for raising 8 billion dollars, but for the average investor, this was not the day to be buying. Even with a bounce in the market to close the week, they couldn’t stop selling $UBER off at the lows of the day.
Earlier, I tweeted the price action on $FB the first few weeks of trading, see below. I think $UBER does something similar:
My trading action was light this week as we had earnings to digest along with continuous trade war headline risk. $DIS continues to be my favorite name to buy dips, as is the $SLB. $ROKU had some of the best numbers this earnings season, along with $FB. Those are also two names to look to buy dips.
WIth a lot of the hoopla out of the market this week– trade deadline, Earnings, & $UBER iPO, we should be setup well for a great trading week. I’ll put some charts together to watch for the upcoming week, stay tuned….
Google is trying to kill the momentum in the market as the stock drops 100 points on an earnings miss. If $AAPL misses tomorrow we could be in for a nice little pullback in the overall market. Until then, there’s always $JMIA–which looks poised to make a run back to highs. $TWTR also put on a good showing today, and I’m back in a swing long position:
Both of the names above were found on today’s momentum screen inside Exodus, but so was $TVIX. It’s a mixed bag here filled with Earnings landmines all week. Trade carefully. Today’s full momentum screen can be found HERE. You’re welcome.
Here’s your weekly look at the top 100 rated stocks inside iBC’s trading software, Exodus. The following screen this week searches for stocks that have a high financial & technical score within our system (aka The Hybrid Score), and trade over 500,000 shares in average volume.
The results below are sorted by average daily volume, NOT the actual ranking. To view the actual ranking, the official screen for members can be found & saved HERE.
I’ve imported this week’s screen for your viewing pleasure: CLICK HERE FOR RESULTS. My favorites heading into the upcoming week include:
It’s a brand new week with many earnings dates to sort through, so let’s start there. $TWTR kicks things off tomorrow morning and looks poised to break higher on good numbers. Let’s watch for a gap and go scenario should we get a bullish report. The reverse is true on a bad report, it will be dead money. Make sure to check the Earnings calendar below:
Now that we got that out of the way, let’s jump in the new week with today’s top hybrid movers in Exodus. Remember, these are names that saw a big change in their combined technical & fundamental scores— aka The hybrid score.
I’ve imported today’s screen to finviz for the unwashed, to view Monday’s full screen CLICK HERE FOR CHARTS. Your top movers on the day can be found below:
Oil names saw the most action with $DVN & $RIG as your standouts from today’s screen:
$LULU also made today’s screen, which is odd given no big movement today, she’s worth watching on strength:
$MX saw a massive breakout and should be monitored for a red to green move tomorrow. Watch for continued strength:
And, if China names start to move on trade deal news, $BZUN was one of today’s top movers. The daily chart is starting to shape up here:
While the market are closed on Good Friday, here are your top ranked names to study this weekend. The following names have the highest hybrid score, meaning a combined fundamental and technical score, within our Exodus software. I’ve left the volume filters unchanged since the action has been in the small caps as of late.
Canopy Growth sets up the cannabis trade into 4/20, with news of a possible acquisition of Acreage holdings. $ACB, another leader in the cannabis industry,was also in the headlines pre-market an upgrade and a positive press release. Indeed, the Cannabis trade is alive and well as we head into the pot smoking holiday, April 20th. Inside Exodus a few more interesting tickers within the industry made our top hybrid screen: $HEXO & $CTST. $HEXO was also on our overnight screen, which can be found HERE.
Let’s see if the Cannabis can regain it footing. The $HEXO sure looks good to go (watch for a big break above 7.33):
As for $CTST, I’m looking for $8, then $9, in short order:
Congratulations to Boriscahall for winning the 12th annual stock madness tournament as we close the week! You sir are now entered into an Elite Hall of Fame, and I have a championship iBC mug coming your way. Email me your shipping: firstname.lastname@example.org
IBC Hall Of Fame:
2008 – The Fly
2009 – Wabisabi
2010 – SC
2011 – Chivo
2012 – Zephler
2013 – Rhino
2014 – Adam
2015 – Andy Swan
2016 – PB
2017 – KY Trader
2018 – Jersey Whale
2019 — Boriscahall
Final 2019 Bracket: $BJ Is The 2019 Winner!
Another successful tournament in the books. Have a good weekend everyone! $BJs for all!
Queue the short squeeze on the headline above, but $ERY & $QID are now flagging oversold– with a respective win rate of 89%, and 72%. Indeed, should you have a portfolio full of tech stocks, now maybe time to add a little $QID hedge. Heavy long the black gold, Oil? How about an $ERY hedge here? Do what you want with this data, I am just the messenger.
Exodus members be sure to bookmark the oversold screen HERE.