🚀 Wall Street Radar: Stocks to Watch Next Week
💼 Volume 11: Uncovering Hidden Gems Amidst Record Highs
This week in the financial markets has been a challenging yet exciting journey. With indices going higher, identifying new stocks for our weekly watchlist proved to be more difficult than usual. In such a bullish environment, it's crucial to avoid the laggards and instead focus on stocks that are consolidating and poised for a potential breakout.
Our strategy this week was to dig deeper and uncover those hidden gems that might be the next big movers. We concentrated on stocks showing strong fundamentals or technical patterns that suggest they are ready to make significant moves, despite the overall market exuberance.
Additionally, we exercised caution by steering clear of stocks with upcoming earnings reports from tomorrow until the end of the month. This decision was made to protect everyone from the potential volatility and unexpected downturns that can accompany earnings announcements. We want to ensure that no one is caught in a nasty gap down due to unforeseen earnings results.
🎢 High-Volatility Thrill Rides
HNRG: Hallador Energy Company
What they do: Hallador Energy Company engages in the production of steam coal for the electric power generation industry. The company operates coal mines in Indiana.
Why watch? ⚡ The stock is displaying a cup and handle pattern, having recently broken the $9.60 weekly level, which is now acting as support. This technical setup could signal further upward momentum.
ECOR: electroCore, Inc.
What they do: electroCore, Inc. is a commercial-stage bioelectronic medicine company developing non-invasive vagus nerve stimulation therapies for various conditions.
Why watch? 🧠 The stock is approaching the $8.10 level, a multi-month resistance that has rarely been broken since 2022. A breakthrough could indicate a significant shift in momentum.
APPS: Digital Turbine, Inc.
What they do: Digital Turbine, Inc. provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide.
Why watch? 📱 The stock has found support on the rising 10 and 20 EMAs, plus daily support at $3.25. It's forming a handle on low volume, which could precede a breakout.
WULF: TeraWulf Inc.
What they do: TeraWulf Inc. owns and operates fully integrated, environmentally clean bitcoin mining facilities in the United States, utilizing nuclear and hydro energy sources.
Why watch? ⛏️ With recent investment from Stanley Druckenmiller and its use of nuclear energy for Bitcoin mining, WULF is at the intersection of two hot themes. A Bitcoin breakout coupled with a break of the $5.43 weekly level could propel the stock to all-time highs.
AEYE: AudioEye, Inc.
What they do: AudioEye, Inc. provides web accessibility solutions and online ADA compliance monitoring for businesses and government agencies.
Why watch? 🚀 After a 400% increase from the beginning of the year, the stock has been consolidating for 3-4 months. It's now perfectly positioned near the $26 weekly level, which is also a monthly level, aligning all timeframes.
🏄♂️ Medium-Risk Wave Riders
CFLT: Confluent, Inc.
What they do: Confluent, Inc. operates a data streaming platform that enables companies to easily access, store, and manage data as continuous, real-time streams.
Why watch? 📊 The stock is finding support from 2022 on the $18-19 level and has recently broken the $22 weekly level. It's now flagging nicely above this level. Fundamentally, the company is growing both sales and EPS, providing a solid foundation for potential price increases.
SIRI: Sirius XM Holdings Inc.
What they do: Sirius XM Holdings Inc. provides satellite radio services in the United States, offering music, sports, entertainment, comedy, talk, news, traffic, and weather channels.
Why watch? 📻 Warren Buffett has increased his stake in the company to over 30%. Technicals also seem aligned, with room to move to $34 if it breaks above $28.
TVST: 2seventy Bio, Inc.
What they do: 2seventy Bio, Inc. is a cell and gene therapy company focused on the research, development, and commercialization of treatments for cancer.
Why watch? 🧬 Like AEYE, all timeframes (daily, weekly, monthly) are aligned for TVST. If the market continues to show strength, the biotech sector could be the next to see significant movement.
NOTE: Notepad Limited
What they do: Notepad Limited develops and markets digital note-taking and productivity applications for various platforms.
Why watch? 📝 The stock has been supported on the $1.10/$1.15 level since the beginning of the year, never breaking below. A breakout from the descending triangle pattern could lead to significant moves, with first targets at $1.45 and $2.00.
ODD: Oddity Tech Ltd
What they do: Oddity Tech Ltd provides wellness products using a digital and AI platform, offering personalized health and lifestyle solutions.
Why watch? 🤖 This interesting company has never broken the downtrend line since its IPO. It's also forming a cup and handle pattern on both daily and weekly charts, suggesting the potential for a significant move.
🛡️ Low-Risk Safe Harbors
CNH: CNH Industrial N.V.
What they do: CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles.
Why watch? 🚜 After losing almost 50% of its value in 2 years, this slow mover is showing a big cup and handle formation. The $11.20 level is the weekly resistance to be broken for potential upside.
TUSK: Mammoth Energy Services, Inc.
What they do: Mammoth Energy Services, Inc. provides energy-related services to the exploration and production industry in North America and internationally.
Why watch? 💰 The company recently repaid all its debt and is now debt-free with 40-50% of its market cap in cash. The stock is currently resting near the 10 EMA with a double inside candle, potentially setting up for a move.
FIVE: Five Below, Inc.
What they do: Five Below, Inc. operates as a specialty value retailer, offering a wide range of trendy products for teens and pre-teens, all priced at $5 or less.
Why watch? 🛍️ The stock is showing a cup and handle pattern combined with a volatility contraction pattern (VCP) under the $96 level, suggesting it may be ready for a breakout.
WAY: Waystar Holding Corp.
What they do: Waystar Holding Corp. provides software solutions for healthcare revenue cycle management, helping healthcare organizations improve financial performance and patient experiences.
Why watch? 🏥 This new IPO offers software for healthcare, a steady business with good financials. The $28 level is the key level to watch for potential movement.
The biggest risk of all is not taking one.
Mellody Hobson