Weekend Wall Street #2: Best Plays for Next Week (8/8-8/12)
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What a week last week! Nearly every one of our plays was successful, so let’s take a look at what next week can bring at the best trades for then. First let’s take a look at the economic calendar:
Lots on the calendar there, but the most important should be the CPI numbers on Wednesday, which will be market moving. Below is the chart of the S&P 500, it’s possible we chop around until CPI and then over 417 we see 427 and below 408 we can test 390 again.
Here are some upcoming FDA decision dates:
📅August 6th-9th: $MYOV expected FDA decision date
📅August 17th: $MGNX expected FDA decision date
📅August 19th: $BLUE expected FDA decision date
Stocks with insider buying last week: LXRX 0.00%↑ and PINS 0.00%↑ were the most notable to me.
Now let’s take a look at some of the plays I like for this week:
1. Long CZOO 7.78%↑ . This stock is currently trading under $1 here and is very similar to CVNA 31.23%↑ Carvana which was up nearly 40% last Friday. It’s basically the same business just in Europe and after a huge pop on stellar earnings to nearly $2 a share I firmly believe this is one of the best plays for next week.
PT: 2 SL: 0.89
2. Long PTON 0.00%↑ . Nice round base call flow and close over our key level here so I think this has space to run a lot more here. PT 15 SL 10.
3. Long OPEN 0.00%↑ . Huge move on volume and call flow to resistance here, over 6 this can run hard as the harder the resistance the bigger the breakout. MACD looking good here. PT 8 SL 5.30
4. Long REV 0.00%↑ . My short squeeze pick, you can check out my full DD in my other post, but essentially 61% short interest, 400% cost to borrow, bull flag, call flow. PT 12 SL 7.75
5. Long BGXX 0.00%↑ . Another bottomed out chart I really like here as penny stocks are running and this one has a lot of space up as it was almost at $50 a few months ago! Also had huge volume a few days ago so can be in play big time here.
PT 3 SL 0.98
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Thanks for reading!, Adit.