Strong Action After the Gap. UBER Breakout
Richard Moglen
Stock Trader & Student of the Markets. I help traders improve their systems & performance at TraderLion & Deepvue
May 12, 2025
Market Action
QQQ – Great close after the news based gap up. Expansion above the key level and 200sma. Would not mind some sideways now to build out
The expectation based on the close and recent action is sideways or higher.
Bulls want to see us follow through up or build sideways
Bears want us to reverse lower and test the 200sma
Daily Chart of the QQQ.
IWM – Similar action, tight inside day to end the week
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IBIT – Some follow through higher, strong but short term extended.
Trends (2/4 Up) – Based on the QQQ
Shortest – 10 Day EMA – Above Rising
Short-term – 21 ema – Above Rising
Intermediate term – 50 sma – Above declining
Longterm – 200 sma – Up – Below declining
Groups/Sectors
Deepvue Theme Tracker
Deepvue Leaders Heatmap
S&P 500.
Leadership
TSLA Gap with a good close, getting a bit short term stretched
PLTR strong action off the 21ema as it forms a range below the gap level
NVDA Strong action, heading into the 200 sma area
META Great action with a strong close, above all the moving averages
HOOD A bit short term stretched, ideally builds over 55 under 60
MSTR pullback, expecting a 10ema test
CRWD strong action with a great close through the short trend line, expecting this handle to build out more
UBER Perfect action, testing the 10ema and pivot and then breaking out with a great close
HIMS trending, a bit short term stretched from the MAs, ideally builds a shelf higher low against the 10ema
Key Moves
NRG earnings move breaking into new highs. HV1
AFRM positive expectation breaker
CRWV positive expectation breaker ahead of earnings
ALAB gap and strong close off 200 sma
BROS strong reconfirmation, newer merch to keep an eye on
Setups and Watchlist
TEM watching for a short flag breakout
HALO ideally tightens more but watching for follow through up after the upside reversal, holding base pivot
GRAL watching for a range breakout move
CPNG watching for a base breakout. tight on the 65
ROOT watching for a range breakout
TTAN could use a tightening day but watching for a breakout move. Tightening on the 65
RBRK one to keep a close eye on, watching for the breakout to new highs, ideally puts in a handble here
STNE could use more tightening but has been a strong mover
KRMN lower DV name but recent ipo. Watching for range breakout. Earnings upcoming so gap and go potential
COIN gapping up after hours above the 200sma, on watch for gap and go. Catalyst: S&P inclusion
VRNA oops reversal, watching for follow through. swing trade type name
Today’s Watchlist in List form
Key Names
NVDA, TSLA, META, PLTR, MSTR, CRWD UBER HOOD
TEM, HALO, GRAL, CPNG, ROOT, TTAN, RBRK, STNE, KRMN, COIN, VRNA
Focus:
TEM COIN GRAL CPNG
Themes and Leaders
Strongest Themes: BTC, Miners, Software, Cyber
Market Thoughts & Focus
I like how we handled the gap up with a good close. UBER the key actionable leader today with a great close after the pull in. Some names a bit short term stretched now.
Anything can happen, Day by Day – Managing risk along the way
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