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Swing Trade Ideas – February 12, 2021

Market View

In the premarket, world indices are mixed with USA slight red, Europe mixed; Japan slight red, Hong Kong green and Asia mixed. US dollar is up slightly which is negative for commodities. Yield curve is steepening in the premarket which is generally positive. Oil lower is a negative for markets. USA markets remain in short term consolidation with resistance above into expiration. No major news and a 3 day weekend can lead to low volume and potentially sharp intraday moves. FAANGMT are a bit soft this morning with TSLA lagging, as usual these are the ones to watch for large cap indices.

Stocks to Watch

Earnings DIS  HUBS DDOG NET NWL GDDY Bitcoin RIOT MARA EBON SRAX CAN MSTR BTBT PYPL NCTY CLSK SOS New Relative Strength High RIOT EXPC BHC TWOU CAN DIS SQ UMC DMTK RDFN AMAT TSM LX WDC Corporate IIVI buying COHR Upgrade boost FSR Lithium ALB SQM

Stock Idea; ALB

ALB is a lthium supplier that has pulled back and a potential swing trade. Now on an hourly buy and waiting for a daily buy. About to clear the channel on the daily TRP. Potential move to 170 and then 183. Caution that lithium stocks are correlated with TSLA, which has been a laggard.