.

Swing Trade Idea – November 30, 2020

Market View

In the premarket world markets are generally weak with USA mixed, Japan red, Hong Kong red and Asia mixed. Yield curve flatter is negative for financials and small caps. US dollar is down which is typically positive for equities. OPEC is meeting to discuss production but currently oil is down and weighing on energy stocks. Oil may move up on any production cut news today. MDRNA has applied for FDA EU authorization following PFE/BNTX which has popped the stock. Market reaction to vaccine news has become very muted.

USA markets have been led by the Nasdaq . Nasdaq is being led by TSLA  with AMZN and AAPL supporting. Reopening stocks are taking a breather so FAANGMT are the key for moving the market. Black Friday sales were strong may boost AMZN SHOP. 

Premarket names:

SPGI buying INFO; MRNA EUA request boosting PFE BNTX AZN; Bitcoin MSTR RIOT GBTC; Pre-earnings run ZM CRWD CRM ZS SNOW DOCU  Upgrade AAPL  Online Shop AMZN SHOP CHWY EV / ALT energy FCEL FSR PLUG TSLA BLDP LTHM LIT SOLO   Weed HEXO ACB TLRY GNLN APHA GRWG CRON FFNTF CGC MSOS

Stock Idea; BB

BB has earnings Dec17 and has started breaking out from a prolonged downtrend. High call activity Friday. I have not seen news, but BB may be getting some love due to it’s software used in EVs. Resistance at 6.94 and 7.69 BB is extended so needs to be managed as a momentum trade.