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Swing Trade Ideas – January 7, 2021

Market View

In the premarket world markets are bouncing with USA green, Europe green, Japan green, Hong Kong red, China green, and Asia green. US dollar is up slightly which can be negative for commodities and equities so one should watch for greater strength today. Yield curve continues to steepen which is positive for financials and small caps. Large cap tech is leading USA markets today with all FAANGMT strong led by TSLA and AAPL.  Semiconductors, EV and Alt Power, small cap tech, Cannabis, Financials and of course bitcoin are all strong.  

Premarket names:

WBA STZ earnings beats; PLUG $1.5B investment from SK turbo charging FCEL BLDP Cannabis TPD ACB TLRY CRON CGC VFF FFNTF CLVR MSOS ; EV/Alt Energy TSLA NIO PLUG ARRY BLDP BE BLNK Guns SWBI; Bitcoin XNET MCB GBTC SRAX RIOT MARA MSTR Solar SPWR CSIQ JKS FSLR RUN ENPH 

Stock Idea; IGT

IGT provides gaming technology services. Technical trade with potential catalyst a target raise to $25. IGT is making new relative strength highs.  This is a reopening trade idea as has been held back due to Covid related  casino closures. $18.27 is a breakout level.