JP Morgan Likes This Stock, Here’s Why I Do Too - InvestingChannel

JP Morgan Likes This Stock, Here’s Why I Do Too

I used yesterday’s red-to-green move in markets to cash in shorts and do a little bit of dip buying as well, and I’m excited to dive into some profitable opportunities today…

While stocks may be a little extended right now, I’ve turned to the top 20 stocks which JP Morgan is eyeing, and identified one stock in particular which I believe could be setting up for an explosive move in the days ahead.

Ticker Code Ticker Name Ticker Industry Price Change Average Volume (50)*
AAL American Airlines Group Inc Airlines -0.12% 104,206,518
LK Luckin Coffee Inc – ADR Restaurants 2.57% 58,555,286
CCL Carnival Corp Travel Services 4.94% 61,213,894
NCLH Norwegian Cruise Line Holdings Ltd Travel Services 2.00% 81,362,705
CHK Chesapeake Energy Corporation Oil & Gas E&P -1.87% 3,444,194
OAS Oasis Petroleum Inc. Oil & Gas E&P 52.14% 47,161,574
GSX GSX Techedu Inc Education & Training Services 20.38% 6,745,200
GNUS Genius Brands International Inc Entertainment -51.77% 78,990,430
CETX Cemtrex Inc Electronic Components 2.71% 11,034,553
HTZ Hertz Global Holdings Inc Rental & Leasing Services 20.21% 106,110,766
MARK Remark Holdings Inc Internet Content & Information -35.14% 58,725,041
ZM Zoom Video Communications Inc Internet Content & Information 8.88% 11,852,054
RIOT Riot Blockchain Inc Software – Application -13.85% 7,315,697
BA Boeing Co Aerospace & Defense 3.48% 44,277,684
AMZN, Inc. Internet Retail 4.36% 4,078,129
NIO Nio Inc – ADR Auto Manufacturers 12.59% 60,914,646
TSLA Tesla Inc Auto Manufacturers 12.77% 13,431,793
AMRN Amarin Corporation plc Biotechnology 1.31% 7,891,334
BYND Beyond Meat Inc Packaged Foods 11.40% 11,627,847
INO Inovio Pharmaceuticals Inc Biotechnology 8.68% 26,331,196

In a market where many traders may be feeling they’ve missed “the big move up” or that they would be chasing individual stocks should they decide to go long now, running a quick scan to isolate stocks which are trading in consolidation (going sideways) can be beneficial to find which may be trading at discounts.

It helps when investment professionals at JP Morgan are looking at the same stocks.

And that’s the exact case with Amarin Corp (NYSE: AMRN).

AMRN, a biotech company, recently gave a presentation at the Scientific Sessions of the American Diabetes Association, where they announced they’re expecting to test a new drug which is designed to decrease cardiovascular risks for diabetics.

If test results are positive, AMRN stock will likely skyrocket. If test results are negative, I’d expect shares of AMRN to plummet. AMRN is a low-priced biotech stock, and low-priced biotech stocks typically move on financial catalysts such as positive or negative drug tests results.

AMRN Daily Chart

I believe financial professionals at JP Morgan Chase may be looking at this stock in anticipation of its drug testing results being released in the near future, and if we see this play out sooner rather than later, we may see it hit options sweeps and increase in dark pool activity in the days ahead as well.

As you can see in the chart above, AMRN is trading sideways at its 50-day simple moving average line which is shown in red. I’ll be watching this key spot for a possible bullish move above it, or a possible bearish move below it.

What I’ll really be interested in on this one today is tracking its activity on options flow and in the dark pools.

The trades which tend to pay me the healthiest returns rely on a technical level (i.e. 50-day simple moving average line), paired with either bullish flow or bearish flow from the smart money, and I make my move accordingly.

That’s what I’ll look for in the case of AMRN today as a potential catalyst play. If it pieces together, I’ll be sure to email you about it.

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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