Growth Stocks Bounce and Follow Through

Richard Moglen
Richard Moglen

Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue

Market Trend Status
Trend: 2 of 4 UP
✓ 10 EMA ✗ 21 EMA ✗ 50 SMA ✓ 200 SMA

Market Action

Follow through higher and now testing the MAs. Expecting some pause there. Semis waking up a bit. It will be great for growth names if the AI theme recovers. What would be constructive now is a higher low to be put in and for the market to tighten. Watch for RS on down days and stocks already forming their right sides of bases.

QQQ
Strong follow through and reclaim of the 10ema. Up against the 50sma and 21ema. Logical spot for a pause
IWM
Reclaim of the 10 and 21ema.
IBIT
Strong close! A key low is in. Expecting some resistance at the downtrending MAs.

Trends 2/4 Up – based on the QQQ

Shortest – 10 Day EMA –   Above
Short-term – 21 ema – Below
Intermediate term – 50 sma – Below Rising
Longterm – 200 sma – Up – Above Rising

Groups/Sectors

THEME Tracker
Growth stocks and semis bouncing.
Deepvue Leaders heatmap
Strong performance from the DV Leaders Stocks
S&P Heatmap
Semis the strongest theme

Leadership Stocks & Analysis

TSLA
Refused to go lower and a strong positive expectation breaker today. Up against the prior base low and 21ema. Watching for a reclaim of the ema.
GOOG
Strongest mega, trending above the MAs. Strong breakout move since I featured it from that inside day.
AAPL
Above all the MAs but not much momentum. Watching for a consolidation breakout
META
Strong push higher from the range. Reclaiming the 10ema
AMZN
Nice follow through and bounce off the 200sma. Up against the 50sma.
INTC
Watching for a pop through the 21ema and the downside reversal high. Key spot here to hold/tighten.
PLTR
Has some work to do given the steep decline. Below the MAs
NVDA
Inside day just below the base pivot. Watching for a re-breakout.
AMD
Follow through after the undercut and reclaim of the gap up low&close
VRT
So far putting in a key low at the prior base pivot. Watching for the development of the base.
MU
Testing the 21ema. Ideally tightens here and pops through
BE
Not much follow through, still under the MAs.
LLY
Trending

Key Moves

GRAL
Strong follow through and breakout from the base. Featured in Nov 18 report.
AVGO
Strong follow through move from the semi space
LMND
Follow through higher, still in this post gap consolidation. Watching for a tight area.

Setups and Watchlist

TEVA
Watching for a range breakout
COLL
Watching for follow through and a range breakout
BTU
Watching for a range breakout. Fast mover. Make or break it point from the double consolidation days.
VICR
Watching for a range breakout. Fast mover and less liquid
FLS
Watching for a reclaim of the HVC
PARR
Watching for a range breakout.

Watchlist & Themes

Daily List

TEVA COLL BTU VICR FLS PARR INTC TSLA AMD NVDA

Daily Focus List

COLL BTU TSLA INTC

Universe List

AAPL ALAB AMD AMZN APLD ARM BABA BE BKKT CCJ CLSK CRDO CRS DELL FIX FLS FSLR GGAL GOOG GOOGL GRAL HOOD HUT INSM INTC LEU LMND MELI META MSFT MU NBIS NET NIO NVDA OPEN PATH PLTR QCOM RGTI RKLB RMBS SHOP SNDK SNOW SOUN STNG STRL STUB TAC TEM TER TWLO VRT MDGL RIVN SEDG TDC VCYT U QLYS NXT DDOG METC TXG ASTS CRWD FLY CSIQ

Recent Gaps

AKAM AMD AMGN AMZN APPN BBAI BE CAH COHR CRS DDOG DOCN DY EXPE FLS FROG GCT GGAL GH GTX HAE HCC ILMN INTC ISRG LC LMND MEDP NET OPEN PAM PBF PEGA PGNY PLNT QCOM QLYS RDDT RIVN ROK SANM SITM SLDP TDC TWLO TXG U VCYT VIAV VICR VIST XMTR YPF COLL JAZZ TEVA

Additional Thoughts

Constructive action today with the follow through higher. Now we need continuation and higher lows to form. Expecting some resistance at the MAs. At those levels watching for constructive tightening.

Key themes for me are biotech, semis/AI, Data center fabrication, energy

Recent Trade Lab Reports

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