Weekly Watchlist and Review 1/21/24

Weekly Watchlist and Review

Welcome back to another edition of our Weekend Watchlist and Review at ALERTSANDNEWS.COM! This week was a whirlwind of market excitement, SPY hit all time highs and with our alerts are killing it and delivering exceptional results. Let’s break down the standout moments and see how our calls fared.

The week kicked off with a bang on 1/16. PHUN stole the show with extraordinary volume, smashing all targets from a humble .13 to a soaring .35. ELAB followed suit, alerted at 2.40 and rocketing through 8 targets up to 4.37. MARK and DWAC joined the fray as well, sparked by PHUN‘s movement. MRSN, on the other hand, saw a stop hit on remaining shares, but not before we capitalized on Friday’s gains.  Risk management is key.

1/17 was a bit of a breather, with no alerts due to technical issues. Even the best traders need a pause now and then!

On 1/18, we were back in the game. SAVE‘s swing play initially hit a stop, but we didn’t lose heart. A fresh buy alert at 4.56 saw us holding some shares, with a top ease reaching an impressive 5.55. IRBT‘s swing from 29.69 eased over 31.05 before hitting a stop on remaining shares. PHUN, back for more, broke its trend with a buy at .239, hitting a top target of .28. BFRG‘s buy alert at 3.82 was another winner, hitting targets up to 4.10.

1/19 wrapped up the week with a bang. SAVE, our resilient swing from 4.56, was sold at a fantastic 6.90. IRBT‘s alert at 16.64 hit 2 targets, peaking at 17.55. CRGE, alerted at just .17, raced to a high of .25, and our ALT swing met a stop.

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Let’s start what to eye tomorrow, and the news over the weekend.

Here’s the Gappers from Friday. GLMD was the top play, not seeing any news there. BFRG still strong, algos are pushing that higher. A big front loader on NCL 30 minutes before friday’s close. Now the hype is growing there with a conference coming this week. 

Let’s look at individual stock news over the weekend. 

SEDG: SolarEdge Announces a Global Workforce Reduction

ADM: ADM Appoints Ismael Roig Interim Chief Financial Officer
 
ARES: RXR Launches $1 Billion Fund To Revive New York City’s Office Building Market
 
MANU: Manchester United PLC Appoints Omar Berrada as New CEO
 
IDYA: Announced Late Friday: On January 19, 2024, Ideaya Biosciences Entered Into An Open Market Sales Agreement With Jefferies, Under Which The Company May Offer And Sell Shares Of Its Common Stock With Aggregate Gross Proceeds Of Up To $350M
 
BMY: Opdivo (nivolumab) Plus Yervoy (ipilimumab) Reduced the Risk of Disease Progression or Death by 79%Versus Chemotherapy in Patients with Microsatellite Instability-High or Mismatch Repair Deficient Metastatic Colorectal Cancer in CheckMate -8HW Trial
 
SAVE: JetBlue, Spirit Airlines Appeal Judge’s Ruling Against Proposed Merger
 
TSLA: XAI, led by Elon Musk, secures $500 million towards $1 billion funding goal

Geopolitical/Economic/World News

  • Florida Governor Ron DeSantis Has Suspended His 2024 Campaign For President And Endorsed Donald Trump.
  • American Airlines Attendant Arrested For Illicitly Recording Minors In Lavatory
  • US Implements Ban On Pentagon Battery Procurements From Chinese Makers, Including Warren Buffett-Backed BYD
  • Microsoft Executive Emails Hacked By Russian Intelligence Group: Company Confirms Security Breach, Assures No Impact On Customer Data
  • Magnitude 5.03 earthquake hits off the east coast of Honshu, Japan – GFZ
  • Libya’s NOC lifts force majeure and resumes full production from Al-Sharara Field: Official
  • US Central Command: Base Air Defense Systems Intercept Most Missiles, Assessing Damage; 1 Iraqi Service Member Injured.
  • U.S. Central Command reports ballistic missiles and rockets launched by Iranian-backed militants in western Iraq targeting Al-Assad airbase.

     

News Coming:

By staying informed about the FDA decisions and other news, investors, healthcare professionals, and patients can gauge the potential impact on the pharmaceutical industry, stock market, and patient care. These decisions can influence the market value of pharmaceutical companies. Let’s look at the news coming: 


Stock TickerCompany NameDecision DetailsEstimated Decision Date
MRKMerck & Co Inc.FDA decision on KEYTRUDA + Concurrent Chemoradiotherapy for newly diagnosed patients with high-risk locally advanced cervical cancer.01/20/2024
THTX/TH.TOTheratechnologies Inc.FDA decision on Tesamorelin F8 Formulation for the reduction of excess abdominal fat in adults.01/22/2024
HRTXHeron Therapeutics Inc.FDA decision on ZYNRELEF for expanded use in soft tissue and orthopedic surgical procedures.01/23/2024
LQDALiquidia Technologies Inc.FDA decision on Yutrepia to add the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD) to the label. Pending.01/24/2024
SNYNF/SNYSanofiFDA decision on Dupixent (dupilumab) to treat children aged 1 to 11 years with eosinophilic esophagitis. Pending.01/31/2024
REGNRegeneron PharmaceuticalsFDA decision on Dupixent (dupilumab) to treat children aged 1 to 11 years with eosinophilic esophagitis. Pending. Drug Status: Approved in Other Countries.01/31/2024
MRKMerck & Co Inc.FDA decision on Keytruda in combination with standard of care chemotherapy for the treatment of patients with locally advanced unresectable or metastatic biliary tract cancer.02/07/2024
IOVAIovance Biotherapeutics, Inc.FDA decision on Lifileucel for patients with advanced melanoma.02/24/2024
ALVOAlvotechFDA decision on AVT02, an interchangeable biosimilar candidate to Humira. Pending.02/24/2024
NERVMinerva Neurosciences IncFDA decision on Roluperidone for the treatment of negative symptoms in schizophrenia.02/26/2024
EYENEYENOVIA, INC.FDA decision on APP13007 for the treatment of inflammation and pain following ocular surgery.03/04/2024

 

Let’s look at some oversold and/or highly shorted stocks. 

Grasping the dynamics of oversold and heavily shorted stocks is key for traders and investors looking to capitalize on emerging opportunities. Oversold stocks can be hidden gems, potentially undervalued due to market overreaction. On the other hand, stocks with high short interest are prime candidates for a short squeeze, a situation where a swift price surge happens as short sellers rush to close their positions. 

IRBT: IRBT’s stock took a hit recently after reports that the EU is going to block deal with Amazon, leading to a impressive drop. Now in oversold territory, the stock is attracting a lot of attention from short sellers who are betting on its continued decline. That means a potential rebound if the shorts start to cover. Keep it on the radar.

ALCE: This stock is one of the most oversold in the market and hasn’t seen a rebound in quite a while. Its Stoch RSI is hitting rock bottom, indicating a deep oversold condition. With a float just over 7 million, it’s time to watch ALCE closely for any signs of a rebound.

HOVR: Witnessing HOVR’s dramatic drop from 10.50 to 1.82, we see a clear example of a massive downturn. The stock is now oversold across all indicators, with a float of 11 million. After such a significant beat-down, it’s essential to keep an eye on the volume, as this could signal an impending rebound.

AXDX: This one has been enduring a rough patch, consistently taking hits all of last week. It’s a classic case of a stock being beaten down, now sitting in deeply oversold territory. What’s particularly noteworthy is the interesting spike in volume we saw on Friday. It’s a good time to start monitoring the volume ratios closely, as they might hint at a potential shift or rebound in AXDX’s near future.

Oversold beat up stocks to eye,

AGL, RUM, ALLK, ROMA, NCL, AIRE, BETS, TBLT, MSS, VCIG

Earnings Calender:

Economic Calendar and Futures.

Upcoming Economic Events for the Week of January 22nd-26th

ime (ET)ReportPeriodActualMedian ForecastPrevious
Monday, Jan. 22     
10:00 amU.S. leading economic indicatorsDec. -0.3%-0.5%
Tuesday, Jan. 23     
 None scheduled    
Wednesday, Jan. 24     
9:45 amS&P flash U.S. services PMIJan. 51.051.4
9:45 amS&P flash U.S. manufacturing PMIJan. 47.347.9
Thursday, Jan. 25     
8:30 amQ4 GDP (prelim)  1.7%4.9%
8:30 amInitial jobless claimsJan. 20 200,000187,000
8:30 amDurable-goods ordersDec. 1.5%5.4%
8:30 amDurable-goods minus transportationDec. 0.4%
8:30 amAdvanced U.S. trade balance in goodsDec.  -$89.3B
8:30 amAdvanced retail inventoriesDec.  -0.1%
8:30 amAdvanced wholesale inventoriesDec.  -0.2%
10:00 amNew home salesDec. 650,000590,000
Friday, Jan. 26     
8:30 amPersonal incomeDec. 0.3%0.4%
8:30 amPersonal spendingDec. 0.4%0.2%
8:30 amPCE indexDec. -0.1%
8:30 amCore PCE indexDec. 0.2%0.1%
8:30 amPCE (year-over-year)  2.6%
8:30 amCore PCE (year-over-year)  3.0%3.2%
10:00 amPending home salesDec. 2.0%0.0%

 

Coming up this week, we have several important economic data points on the calendar, but the spotlight is on the Personal Consumption Expenditures (PCE) data. Here’s a straightforward look at what’s ahead.

The week starts on Monday, Jan. 22, with the U.S. leading economic indicators for December. This data will provide some initial insight into the economic trends as we head into the new year.

On Wednesday, we’ll see the S&P flash U.S. services and manufacturing PMIs for January. These numbers will offer valuable information about the current state of the U.S. services and manufacturing sectors, leading up to the more significant data releases later in the week.

Thursday, Jan. 25, is packed with key reports including Q4 GDP, jobless claims, and durable goods orders. However, the main event is on Friday with the release of the PCE data. The Core PCE (year-over-year) for December, an inflation measure closely watched by the Federal Reserve, is forecasted at 3.0%, a slight decrease from the previous 3.2%. This data is crucial as it influences the Fed’s policy decisions.

We’ll also get insights into personal income and spending for December on Friday, alongside the PCE index. This combination of data will provide a clear picture of consumer spending habits and inflation trends, which are vital for understanding the overall economic landscape.

In essence, while the week is full of important economic reports, the PCE data on Friday is the key element to watch. It’s a significant indicator that could influence future economic policies and market directions. So, let’s stay tuned for these crucial updates

As of 6:07 PM EDT, market futures are mixed but mostly red. Thanks for reading. For more targeted insights and timely alerts, make sure to check us out at alertsandnews.com Don’t forget to use the promo code AAN10 for 10% discount on all our packages. Getting the team the first mover advantage. Get informed first with your command center for the markets. Don’t let the next big opportunity pass you by! Join the team today!

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