TKAT: It's late August and the market is thin. It's practically holiday trading. What better time to find stories and ramp the NFT stocks! Hey, maybe it's real.
But probably, given the situational dynamics, this is unlikely to have real staying power here.
NOC in Defense space.
With US administration now promising retaliation for Kabul bombings, NOC is a prime player and just closed above the major MA for the first time in a couple months while in a longer-term bullish trend.
HOOD may seem like the ultimate "meme stock", following in the footsteps of, and perhaps soaring past, the likes of AMC, BB, FUBO, and GME. But it's important to remember what unifies those other names -- short interest.
As far as we know, HOOD is not irregular in this factor. It's just a broker stock. If traders are sitting in HOOD shares on meme stock bets, it...
SMH has been a clear leadership area in the market. But the ETF is flirting with a technical breakout failure on a large timeframe.
Of such things big tops are potentially made. This gives the broad market a yellow-light status.
GSFI shares have recently broken above the stock's 50-day MA in a generally rising trend in place over the past year.
The stock also recently found support at prior resistance in the $0.06 area.
Shorts have been working overtime to keep the stock in line, but that could backfire before long.
CSOC is acting like a staircase, maintaining a very steady, robust bullish trend as the company engineers a strong turnaround, fueled by a new acquisition, reduced debt, reduced dilution risk, reduced outstanding shares, and compliance on filings.
The trendline and the 50-day MA have been pointing the way higher so far this year.
VKIN recently broke above its standing downtrend line as well as the key 50-day MA.
The stock has also recently registered a Bull MACD Divergence, with its most recent low coming on strengthening upside momentum under the surface of the tape.
WHSI is sporting a nice clean higher-plateau rising base pattern.
The stock also just put in an RSI Bull signal to punctuate the pattern, giving traders something to dig their heels in against -- at the tail.
That is opposite range resistance above at $0.025, offering plenty of room for potential upside.
AMC, no matter what you think of it on a valuation basis, is sitting in a bull pennant pattern. Those should generally be respected.
They very rarely lead to outright trend reversals without so much as a test of trend highs first.
Oil has seen quite a bull trend over the past year. But one might suggest it could see more if policymakers are unwilling to ramp production given the specter of Delta Variant lockdowns that may never appear. We may find out more when OPEC+ meets later this week.
FB has seen a classic wedge breakout over recent days on the idea that it will escape the Wrath of Khan at the refanged FTC. But if this breakout reverses, it should be taken as a major bear sign given its leadership role and clean bill on the regulatory side.
TLT has been trending higher. Make no mistake about it. That's in spite of record inflation and 7% GDP growth estimates for the year. Higher. Rates, lower.
One would think something has to give here. But the lower-for-longer trade seems to be peering around the corner right now.
KULR has been pushing higher in a steady bullish trend since mid-2020 as the company lines up a barrage of positive catalysts.
But it remains under the radar in the EV space.
The stock's current pattern could be seen as an ascending triangle breakout pattern with a strong trigger in place above $3/share.
KULR Technology Group Inc (OTCMKTS:KULR)...
BIIB blasted through long-term resistance on the huge news of the company's approval for a first-of-its-kind Alzheimer's treatment. This is a multi-billion-dollar market with effectively no competition.
OCGN is a strong growth name that has been consolidating its massive rally from Dec-Feb over the past 3-4 months. This consolidation has taken the form of a symmetric triangle, which is normally technically constructive, pointing to a potential test of the sloped resistance line now sitting above in the $15 area.
HEMP continues to hold the posture of a new bull trend despite the deep pullback we have seen over the past couple months.
The stock is now testing confluence key support at the intersection of its rising log trendline and the rising 200-day MA.
SMH is at an interesting juncture. The world will be defined by chips. Demand is soaring. Supply will eventually catch up. This pattern is typically part of a continuation in a trend. But it needs to continue to hold the trend to capitalize on the A-T breakout to come.