Hey, trader. It’s Bryce here.
I hope Money Monday and Fabulous Friday turned out well for all you part-time traders this week.
For the rest of you in the trenches day in and day out, may your weekly charts look clean and green.
We have some exciting movers this week. All three tech companies have something unique to contribute to their industry, and traders are taking notice.
Let’s take a look at what these companies are all about and what their price action is up to.
What I’m Watching
Here are the tickers keeping my curiosity piqued this week…
System1 Inc (NYSE: SST)
System 1 is a data science technology company with an omnichannel, omnivertical Responsive Acquisition Marketing Platform (RAMP).
If that sounds like gobbledygook to you, you’re not alone.
What you need to know is that SST released its fourth-quarter financials last Monday, and traders have been hot on the stock since.
The stock saw a high of $31.84 on Tuesday, then tried to reach it again on Friday. However, it ran into resistance at $31.75.
It’s seen support just under the $20 range and resistance at $32. Bounces off of both are potential plays.
Takung Art Co Ltd (NYSE: TKAT)
TKAT is the NFT sympathy play of choice for most traders. And it has been running again.
Takung Art first announced its intention to enter the non-fungible token (NFT) market last year and saw a good run at the time.
There’s no company-specific news on TKAT right now, but it moved alongside other consumer cyclical stocks on Friday.
It moved about 25% to the upside in the past week.
Resistance is in the $4 range, but it did touch $4.43 on Friday and $4.82 on Monday. I’d wait for a clean breakout past $4.50 on this one. If you want to play it even safer, wait for a break past $5.
Engage Mobility Inc (OTCMKTS: ENGA)
Engage Mobility announced the launch of a “Super App” that puts all its competitors in one hub. The Super App would grant users access to “YouTube, WhatsApp, Instagram, TikTok, Netflix, Twitter, Zillow, Medium, and more.”
It doesn’t host the StocksToTrade app though, so it’s missing something very valuable, IMHO.
Still, traders ate up the news. The stock hit a high of $1.74 on Thursday. It’s up more than 30% over the past five trading days.
It pulled back a chunk on Friday though, so Monday will be a decider. It could bounce off the $1 range if it sinks further, though. Bounces off support are a better play right now. It would have to push past $1.75 for a breakout move.
Conclusion
I love the smell of money in the morning. That’s why Monday’s one of my favorite days.
I also love that I’m part of a team of top-notch traders who stay on top of the markets every day. If you want to be part of a community that non-stop searches for the best plays, check out the SteadyTradeTeam.
That’s where I drop webinars recapping the biggest movers so you can be prepared for the next ones. We also have Tim Bohen delivering up-to-the-minute news every weekday morning that can help your trading game in a major way.