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||Amazon.com, 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.
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,
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.