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Swing Trade Idea – November 13, 2020

Market View

In the premarket ahead of USA PPI data USA is green, Europe is mild green, Japan is green, Hong Kong red, China red, and Asia green. Yield curve is mildly flatter which is a negative for financials. US dollar is slightly red, which is a mild positive. Oil is lower, which is a negative.  US indices are broadly positive but the premarket factors appear to point to a range day. The key FAANGM stocks and financials are positive which is positive for markets.  Premarket strength  in the China internet stocks, EV stocks,  semiconductors, Cannabis. 

Premarket names:

LI earnings beat; EVs&Alt Energy NIO XPEV SOLO FSR KNDI WKHS PLUG ; VIPS earnings beat China PDD JD;  DIS earnings beat; CSCO earnings beat; DKNG rev increase; Cannabis VFF earnings beat TLRY HEXO GNLN CRON GRWG; Semis AMAT beat NVDA earnings soon QCOM MRVL ;   FTCH earnings beat 

Stock Idea; DKNG

DKNG is an online betting company that is up in the premarket on an earnings beat and raise. In premarket has broken out on the hourly chart. Popular Robinhood stock, would look for a pullback on the open for a day trade. PENN is another name that can move in sympathy.