rossgivens

rossgivens

Every bull market has a “theme” – a specific sector or group of stocks that lead the rest of the market. In the last '90s it was dot-com. From 2009-2020 the theme was big tech. The short-lived bull from 2020-2021 was driven by work-from-home stocks. This market has had a theme too. And that theme is artificial intelligence. Stocks with exposure to AI have been...

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This is a potential short trade that could deliver a nice gain if the market pulls back. I am still focused on buying opportunities, but it never hurts to be prepared for the other side. Some of you may remember this as a stock I was looking to buy a couple months ago. Often times, the best short ideas come from stocks on my long watchlist that fail. HIMS...

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NIO is basically a Chinese Tesla. They are an electric vehicle manufacturer with seven models in production and have so far delivered around 350,000 units. I don’t typically like Chinese stocks, but this one looks poised for a breakout higher. The chart above shows my stage analysis for NIO stock on a weekly chart covering the last four years. As you can see,...

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RDFN is a stock we bought in my Alpha Stocks service on June 27 when it broke out above resistance at 11.50. It rallied 50% over the next three weeks but has now pulled back to a level where I would consider adding to or taking a new position. Redfin is a powerful stock, but it also has a history of 15-20% pullbacks throughout its up moves. As of Friday...

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SmartRent offers a home automation platform for property managers and renters. While this is not a pure play on artificial intelligence, it somewhat fits into the AI/tech /software theme we see playing out. It is only about $4 a share, but the company market cap is $770 million. This is not a longshot penny stock with no sales. After consolidating in the $2-$3...

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Shopify is emerging from a beautiful Stage 2 base. SHOP is up more than 100% since the start of a year – a clear sign this is a market leader. Notice how volume is higher on the rallies up and lower when the stock pulls back. This is a subtle clue that buyers are in control and the smart money is building a position. The breakout on Thursday came on 2X its...

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Unity is a gaming company that fits perfectly into the AI theme we are seeing lead this market. I have marked up a weekly chart of the stock to show how it has progressed through the 4 stages of the stock cycle. After chopping around the $20-$40 range for the better part of a year, U is trying to break out into a new Stage 2 uptrend. Price action has tightened...

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Dynatrace is a software company developing intelligent platforms that allow customers to modernize and automate IT operations. Their secret sauce? You guessed it… artificial intelligence. Now only has the pullback been shallow (only 6% from its highs), it also took place on decreasing volume. I like to see leading stocks making shallow retracements on light...

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Datadog is a big AI name that has come back to life in a big way. After falling 68% in last year’s bear market, the stock has surged 58% in just the last two months. The shallow base formed over the last few weeks took place on lower-than-average volume – a hint that institutions are not selling and the stock is becoming harder to buy. DDOG is now trying to...

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Marvell is a leading semiconductor stock whose products are used heavily in artificial intelligence applications. The stock surged 40% in two days following a good earnings report and shares have consolidated in a tight range ever since. Shares tried to breach the low of the base on June 23, and we saw nice buying to support the price. Volume remains low and...

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I started buying SOUN on a breakout above 3.35 two weeks ago. This was a classic breakout pattern with big volume on the advances and the stock was in the hottest group - AI. And shares surged 50% over the next 14 days. I sold half my position at around 4.80. Since the stock topped just below the $5 mark back in February, this was likely to be a key resistance...

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Shopify needs no introduction. If you bought something online from anywhere other than Amazon, the sale probably ran through Shopify. The stock is up 175% since October and proving to be a market leader. The recent action shows shallowing retracements on declining volume – a textbook breakout pattern or "VCP Pattern" as described by Mark Minervini I would...

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Unity is a big player in the metaverse space since the company specializes in real-time 3D content. The company is also deep in AI development which is a space I want as much exposure to as possible. The stock has had a hard time getting above the $43 level, but the recent surge in volume looks like the fuel it needed to power to new highs. If you zoom in on a...

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JFrog is a supply chain software company out of California. This mid-cap stock formed a base over the last twelve months and is now trying to break out on above average volume. The run up from $17 to $28 took place on good volume, so this looks like accumulation on the institutional side. I think this is buyable here. A couple weeks of tight price action near...

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This cybersecurity stock has been a top performer in 2023. After a vicious Stage 4 downtrend that wiped out 70% of its value in the 2022 bear market, CRWD has come ripping off the low this year. It reclaimed its 200-day moving average last month and continues to advance higher. The dashed line on the chart above shows a key support/resistance level in CRWD. The...

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SMCI is a market-leading stock. As a key player in the AI space, Super Micro is currently an institutional favorite. Shares tripled in 45 days between April and June, and the stock is finally pulling back. This dip to the 21-day moving average is a buyable pullback. I would use an 8-10% stop to keep risk tight.

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I’ve had my eye on this stock for months. SoundHound is smaller, off-the-radar AI stock. The company owns several patents involving voice-recognition technology. If you drive a Dodge, Chrysler, Jeep, Hyundai, Kia, Honda or Mercedes-Benz, you are probably using their software already. HOUN ripped higher to start the year, but it got overcooked and settled back...

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Who makes the best donuts on Earth? Don’t you dare say Dunkin’. Krispy Kreme is king, and I won’t hear anything to the contrary. Regardless of who makes your favorite cream-filled pastry, take a look at the weekly chart of DNUT above. This setup is fairly straight forward. The stock has not been able to breach the $16 level despite several attempts over the last...