Trading in Outer Space

Two for two yesterday for 50% and 56% respectively. +106% in total.

Quick look at markets as I started my scan today…

Looking to tally up another triple-digit day today applying JP Morgan’s Financial Professional Research Data.

Ticker Code Ticker Name Ticker Industry Price Change Average Volume (50)*
NIO Nio Inc – ADR Auto Manufacturers 24.66% 30,456,008
AMZN, Inc. Internet Retail 20.40% 5,451,243
GHSI Guardion Health Sciences Inc Drug Manufacturers – Specialty & Generic 2.13% 8,629,915
PIXY ShiftPixy Inc Staffing & Outsourcing Services 44.79% 767,572
OAS Oasis Petroleum Inc. Oil & Gas E&P 33.96% 51,875,457
PRTY Party City Holdco Inc Specialty Retail 11.54% 8,986,279
ACB Aurora Cannabis Inc Drug Manufacturers – Specialty & Generic 25.80% 9,421,646
KR Kroger Co Grocery Stores 5.16% 11,923,845
VTIQ VECTOIQ ACQUISI/SH Conglomerates 57.74% 4,595,306
JCP J C Penney Co Inc Department Stores 0.00% 27,091,392
CETX Cemtrex Inc Electronic Components 14.81% 899,220
GSX GSX Techedu Inc Education & Training Services -25.03% 6,075,296
PTON Peloton Interactive Inc Specialty Industrial Machinery 40.74% 12,533,574
OCGN Ocugen Inc Biotechnology 9.68% 6,131,124
DELL Dell Technologies Inc Software – Infrastructure 10.20% 2,239,515
AMRN Amarin Corporation plc Biotechnology 46.02% 13,866,340
EC Ecopetrol SA Oil & Gas Integrated 7.67% 1,433,259
XLNX Xilinx, Inc. Semiconductors 10.22% 3,043,369
AKER Akers Biosciences Inc Medical Instruments & Supplies 36.04% 4,806,304
MT ArcelorMittal SA Steel -1.52% 6,643,071

Overnight, Xilinx Inc (NYSE: XLNX) announced it would be enabling machine learning interference together with unlimited on-orbit reconfiguration for real time on-board processing in outer space.

This release itself gives XLNX an edge over its competitors; if they follow through on their statement, they’d be the first in the semiconductor industry to reveal a product of this nature.

I find this financial particular catalyst interesting as trading a catalyst specific to machine learning and applicable to space may raise some eyes amongst active traders (such as myself) who may be looking for catalysts unrelated to the coronavirus for a day or two.

Additionally, XLNX’s chart is about as easy-to-read as charts get. One look at this chart and I can identify my upside profit target and stop loss.

I’ll teach you expert technical analysis as we move forward, but for now, here’s what I see…

Shown in yellow in the chart above is XLNX’s 100-day simple moving average line, a support level I’ll be watching in the hours and days to come.

Should it hold that key support level, my upside profit target on this stock is straight to its 200-day simple moving average line, shown in white in the chart above.

Given XLNX’s multiple strong support levels right below its current trading range, I’m a bull on XLNX as of right now, and will be watching for any possible call option sweeps and/or dark pool prints (see video lessons I’ve sent you) to assist me in making a potential move.

If this lines up perfectly, maybe I’ll even wind up making the same exact move financial professionals at JP Morgan are making!

Let me know how you do today!

P.S. Remember Inovio Pharmaceuticals (NYSE: INO) from yesterday? It’s up about 20% this morning on Covid-19 vaccine news. If you missed it, here’s yesterday’s report on INO.

Yours for TrackStar trading,

Davis Martin
America’s #1 Premarket and Day Trader

Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.

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