🚀 Wall Street Radar: Stocks to Watch Next Week
💼 Volume 14: 💹 Election Aftermath: Seizing Opportunities in a Bullish Market
In the wake of the recent U.S. presidential election, where Donald Trump emerged victorious, the financial markets have experienced a remarkable surge in breadth across all sectors. This post-election rally has seen over 1,400 stocks achieve gains exceeding 4% in one day, a phenomenon not witnessed since a similar event a year ago. Such robust market activity underscores a significant shift in investor sentiment, with the Volatility Index (VIX) showing signs of bottoming out, suggesting potential stability and growth as we approach the year's end.
Despite this optimistic outlook, market analysts urge caution. The current market environment, while buoyant, is not without its risks. The market appears overextended, indicating that a pullback may be imminent. Investors are advised to exercise patience and avoid the pitfalls of FOMO (Fear of Missing Out) by waiting for a potential market correction before initiating new positions. Currently, many are holding cash, awaiting more favorable entry points.
Our proprietary indicators, including benchmarks like SPY, QQQ, and IWM, all signal green, reflecting a positive market sentiment. However, the importance of daily market monitoring cannot be overstated. Investors should remain vigilant, adapting to market changes without succumbing to impatience.
(please check our Market Monitor for additional information)
This week's watchlist is heavily focused on the biotech and pharmaceutical sectors. The XBI index has broken out from a year-long base, presenting one of the most compelling setups in the current market landscape. While other sectors may appear overextended, biotech and pharma offer promising opportunities for growth and investment.
🎢 High-Volatility Thrill Rides
BEAM: Beam Therapeutics
What they do: Beam Therapeutics is a biotechnology company focused on precision genetic medicines through base editing technology.
Why watch? 💊 Technical analysis shows a crucial level at $27.50 on the monthly chart, which supported the stock in 2022 and now acts as major resistance. A breakthrough with volume could trigger momentum toward $35 and $50 as initial medium/long-term targets.
PRME: Prime Medicine
What they do: Prime Medicine develops prime editing technology for genetic diseases, offering a precise approach to DNA modification.
Why watch? 🧬 Major catalyst with recent Bristol Myers Squibb partnership worth over $3.5B. The stock broke a significant falling wedge on the weekly chart. Watch for movement above $4.30-4.50 with volume, targeting $5.00 and $6.00 levels.
MYNA: Mynaric AG
What they do: Mynaric manufactures laser communication equipment for airborne and spaceborne applications.
Why watch? 🛰️ Despite recent challenges, technical setup shows promise. The $1.60 weekly level is crucial, with an unfilled gap presenting targets at $2.00 and $4.00.
ALAR: Alarum Technologies
What they do: Alarum Technologies provides cybersecurity and privacy solutions for enterprises and consumers.
Why watch? 🔒 Technical setup suggests potential momentum above $15 with volume, targeting recent highs near $20.
🏄♂️ Medium-Risk Wave Riders
PRCT: PROCEPT BioRobotics
What they do: PROCEPT BioRobotics develops surgical robotic systems for minimally invasive urologic procedures.
Why watch? 🤖 Recent bullish move following strong earnings and raised guidance. Currently consolidating under the psychological $100 level, suggesting a potential breakout opportunity.
MIRM: Mirum Pharmaceuticals
What they do: Mirum Pharmaceuticals develops treatments for rare liver diseases.
Why watch? 💊 Following impressive summer performance, stock has consolidated healthily. Watch for breakthrough above $42-43 for potential new all-time highs.
SRTS: Sensus Healthcare
What they do: Sensus Healthcare provides non-invasive treatments for skin conditions using advanced technology.
Why watch? 📊 Forming a VCP (Volatility Contraction Pattern) under $7.00. Upcoming earnings on November 14 could act as a catalyst with positive estimates.
FLXS: Flexsteel Industries
What they do: Flexsteel manufactures and sells furniture products for residential and commercial markets.
Why watch? 🏢 Strong earnings three weeks ago with stock consolidating under the $60.00 level. Proximity to all-time highs (2-3 dollars away) presents an interesting setup.
🛡️ Low-Risk Safe Harbors
ETSY: Etsy Inc.
What they do: Etsy operates online marketplaces connecting millions of buyers and sellers globally.
Why watch? 🛍️ Three-year falling wedge pattern on weekly/monthly charts showing potential. Recent earnings maintained stability with a $1B share buyback announced. Key level to watch: $55.
IMKTA: Ingles Markets
What they do: Ingles Markets operates a supermarket chain in the southeastern United States.
Why watch? 🏪 Compelling value play with a strong buy signal above $72.00. The company owns over 80% of its real estate, adding significant asset value beyond core grocery operations.
QLYS: Qualys Inc.
What they do: Qualys provides cloud-based IT, security, and compliance solutions.
Why watch? 💻 Recent positive earnings and takeover speculation create an interesting setup. Watch the $151 level for potential upward momentum.
HWM: Howmet Aerospace
What they do: Howmet Aerospace provides advanced engineered solutions for the aerospace and transportation industries.
Why watch? ✈️ Recent record EBITDA and strategic growth announcements position stock for the upside. Watch for consolidation and potential break above $115 level.
"Given a 10% chance of a 100 times payoff, you should take that bet every time." Jeff Bezos
Be the Force Behind Market Mastery - Support Our Community
Your contribution enables us to keep delivering premium market insights at no cost to thousands of investors
Note: All investments carry risk. Every stock should represent only a small portion of a diversified portfolio. Always conduct your due diligence.