Happy New Year!
It seems that the New Year is bringing us yet another gap up for the market. The SPY and most of the major indices are gapping up to near all time high levels. We are also seeing the VIX easing a bit here in the premarket. It will be very important for me not to chase any entries early and to let the open settle in before taking any new trades. volume is still likely to be on the lighter side the rest of this week before hopefully getting back to normal next week. Here are some names that I will be watching today.
PSNL is in a TTM Squeeze on the daily and made a strong, high volume move on Tuesday. I like this over Tuesday's high of 11.15 for a move to the mid to high $11s
EROS is a name we considered on Tuesday for an overnight swing, and I still like this over 3.47 to 4.50 for a push up to the high $3s
KRTX is a wild one, so trade with caution, but I like this over Tuesday's high of 76,43 for a push up to $80 or higher
SMAR is in a TTM Squeeze on the daily and has been consolidating around its sma200 and sma20. I like this over $45 for a push up to $46 or higher
BYND is a beat up name that looks to be putting in a base here and starting a TTM Squeeze. I like this over $76 for a push up to the $79 or $80 area
FNKO continues to recover after a nice reversal. I like this over Tuesday;s high of 17.27 for a push up to the mid to high $17s
LULU is a name that has been showing a ton of strength and after a pullback off of the recent all time highs, it looks ready to possibly push back up to test them in a nice TTM Squeeze. I like this either on a move above $232 or a pullback to the $229 area and then move back up.