Stop loss: .31
Price target: .50
Second PT: .70
Analysis done on hourly candles. SNDL shares increased Friday along with other cannabis related stocks after the announcement of the upcoming vote to federally legalize marijuana from the House of Representatives. The vote is scheduled to be this week anywhere between December 2nd and December 4th so our goal is maximize any move from marijuana stocks before those dates and have minor positions open until we receive the outcome. Holding through the voting period will obviously be high risk so take that into consideration when opening a position. SNDL in specific also has rumors of a potential merger announcement this week. Mergers can sometimes send the stock higher so be on the look out for any news that comes out.
Stop loss: 87.50 (Low risk)
Price target: 94.00
Second PT: 95.50
Analysis done on two hour candles. E-Commerce companies are expected to do well this week with Cyber Monday coming up. Although JD is not an American companies, its chart is still very attractive. The stock has been consolidating in a healthy range since we traded it a few weeks ago to an all time high position and it looks about ready to test for a higher move. Since its rejection at the high of 92.77, the stock has pulled back and bounced multiple times and has began forming a large pennant on the daily chart (not shown) that it's looking to test for a breakout.
Stop loss: 38.20
Price target: 44.50-45.00
Analysis done on two hour candles. Digital Turbine is one of the most popular investments in 2020 for many software investors since they specify in a very niche business. Large national and international wireless carriers use this company is preinstall apps on the cell phones they sell to consumers. The screen space is considered real estate for big companies and they want their share of the space so digital turbine became the middle man. The company is seeing increase of revenue in the earnings and their users are multiplying exponentially. Their chart reflects their growth since they’ve quadrupled in price over the last year and they look to be setting up for a higher move.
Stop loss: 6.15
Price target: 7.40
Analysis done on one hour candles. Breakthrough innovation is beginning to catch traction across the market as we see more people following the Ark Investments methodology and taking on higher risk investments/trades in innovative fields. NNDM is in no doubt in one of the strongest growing industries, 3D printing. Not only are they in 3D printing, but they specialize in printing circuit boards and other electronic components, which is perfect for the direction the world is moving. In terms of the their technical analysis, NNDM’s weekly buying action has been strong over the last two weeks and their move on Friday could be the start of a run for them. Their breakout came from a fluid number of buyers, but it didn’t have enough time on Friday to reinforce itself with another higher so we’ll be watching for that this week.
The stocks posted are the preliminary stocks and set ups we’ll be watching this week. All price points are subject to change based on market performance and sector health. Please do your own research and analysis on these companies/charts before taking on any set ups. Trade at your own risk and as always, good luck! Let’s have a fantastic week.