Watchlist 2023-03-08 $FCEL $VET $CLNN $ASAN SPY - relatively flat this morning after two days of selling strength from Powell's hawkish testimony. Late in the session we had a ripping rally which quickly corrected to the downside in the after hours. To me this means that it flushed out some late shorts but the bears were still in control. Leaning slightly bearish for the day but not expecting any large moves as we put in a decent range over the last week and investors will we waiting on the payroll numbers Friday at 8:30 ET.
FCEL - Fiscal Q1 Loss Narrows, Revenue Increases; Shares Rise. If consolidation happens near the breakout pivot level 3.60, interested in a long with room to 3.85, has moved 1.3 ATRs in the PM and gapping over the last two weeks of trading. There was a Sutu rev H&S patter around the 3.10s which is a great indicator the name is ready to trade higher with this positive catalyst.
VET - Fiscal Q1 Loss Narrows, Revenue Increases; Shares Rise. National Bank sets price target to $29.
This is not an A+ trade as we have declining MAs and have only made a short base. However, for a very short term trade there is potential to the upside with the first good news catalyst and a PD red bar fake-out that will catch sellers off guard and flushed out some buyers. If it ranges for a few min near 14.26, there is a potential long with room to 14.80
CLNN - adds 16% after new data for lead asset in ALS study. Gapping over a clear range at 1.30 - this will be terrific gap and go support if we can get it. Else, looking for break above the 1.60 PM high and High vol node for room to 2.00 while taking profit on the way.
ASAN - stock soars 24% as software company says path to profitability is improving. Judging from the price action grinding higher up to earnings, this seems like a time for some profit taking, also judging from the PM sequential pullback. Key resistance is 22.30, 200 MA and the PM high vol node. Looking from pullback from scalp longs and failed follow through for shorts if we get extended.
