Free Scan: Stocks To Watch For May 20, 2024

by | May 19, 2024

Welcome back to another Sunday Scan. This week, Chris and Cody will recap recent moves and share some ideas for the week ahead.

Tons of opportunities in the past week! We also put out some great content. Make sure to check out the latest episode of Trading Takes with Ed Barry and the latest episode of The Trader’s Journey  (formerly the IU Podcast) with Jack Schwager.

We ran a 48-hour deal this week. It expired on Thursday but we kept the deals up for Sunday Scan viewers. This is the last chance to take advantage of them.

For those of you interested in Nate’s scans, they are still available to members.

Let’s get into the scan!

Video Scan and Game Plan

Charts in Play Last Week

GME had a huge range from the Roaring Kitty tweet and a resurgence in meme stocks.

AMC same situation as GME.

SPWR small cap meme sympathy. 

FFIE massive gainer from the pennies to dollars. Retraced 75% of the move on Friday. 

CRKN another penny name with huge range. 

DUO another pennies to dollars runner. 

RDDT ran hard with the meme activity this week and is now closing in on the IPO highs.

NIO moved on the China EV tariffs headlines this week.

MARA in play based on BTC. It retraced an initial spike on Friday. 

NVAX consolidating at the highs after a significant move this month.

MULN breaking a multi-week trendline

CGC moved on cannabis reclassification headlines. 

AG silver miner reacting to the move in the silver spot price. 

BABA Chinese stocks caught a bid as some 13F filings showed renewed interest in the Chinese market. 

PDD another Chinese stock breaking out. 

CB Buffett’s new holding.

WMT gapped up on good earnings this week. 

NVDA testing breakout zone into upcoming earnings on May 22nd.

Main Watches This Week

FFIE on watch for bounce.

CRKN same as FFIE.

IBIT Bitcoin is ramping up and the ETFs and crypto stocks may move with it.

NVDA on watch into earnings for sector trend.

HOOD breakout with meme market and increased retail trading activity.

NVAX on watch for break out channel. 

GME looking for bounce and then fade off unless there is significant news that causes a second round of buying. 

RDDT looking to test the highs and possible parabolic blow off before fade. 

MARA possible breakout with BTC.

SOXL way to play the semiconductor names with NVDA reporting soon. 

T-Shirt winners

  • jinxior88
  • dayz306


Submit a Comment

Your email address will not be published. Required fields are marked *

Related Content

15 Trade Management Tips to Improve Your Trading

15 Trade Management Tips to Improve Your Trading

Trade management is an important part of the trading process. It's not enough to have an effective strategy - you also need to execute that strategy properly. Think of this distinction as the difference between creating a well-rounded business plan and actually...

Adapting to the Market – 8 Practical Tips for Traders

Adapting to the Market – 8 Practical Tips for Traders

The stock market is constantly changing. If you are fortunate enough to find success as a trader, you shouldn't get too comfortable. A strategy that works for days, weeks, or months is not guaranteed to work forever. Career traders who achieve long-term success...

14 Tips to Improve Your Trading Mindset

14 Tips to Improve Your Trading Mindset

Your mindset is an important part of your trading. How you think will impact how you trade. Your mindset will ultimately determine what you focus on, how well you learn, how you react to trades, and so on. Today, we are going to discuss some quick tips to help you...

The Process Behind Trading Success – Nate Michaud on SimCast

The Process Behind Trading Success – Nate Michaud on SimCast Topics Discussed Long Trading vs. Short Trading (and Where Nate Makes More Money) Using a "Macro Mentality" in Trading Scaling in and Out Around a Core Being Early vs. Being Right Why Day Trade vs. Invest? Finding The Best...

Day Trading Course