‘To the Moon’ Watchlist: June 19, 2022

by | Jun 19, 2022 | Watchlists

Happy Sunday, friends. It’s Matt here.

First off, I want to remind you all that the markets are closed on Monday, June 20 to celebrate the holiday of Juneteenth. 

I hope everyone finds a way to celebrate and honor our national holidays and then comes back ready for the next trading week. 

I’m taking a break from watching cryptocurrencies for now. They’re falling, and I believe they have more downside coming. 

I don’t want to catch a falling knife so I’m gonna wait until they reach convincing support levels before I jump in for a bounce. My students in the Crypto War Room will be the first to know when that happens. 

In the meantime, here are the stock tickers worth keeping on your radar come Tuesday…

SIGA Technologies, Inc. (NASDAQ: SIGA)

SIGA Technologies is a pharmaceutical company that primarily sells antiviral smallpox treatments. The stock started running when news of monkeypox outbreaks hit the media in late May. 

Since then, SIGA’s chart shows several spikes and dips along the way. There was a lull in related news for a while until recently. Unfortunately, cases are on the rise in the U.S.

At this point, what happens to the stock is also a battle between longs and potentially trapped shorts. A multi-week trend break over $12 could encourage SIGA to retest its highs around the $14 level. 

Advent Technologies Holdings Inc. (NASDAQ: ADN)

Advent Technologies recently announced that it had received funding from the Greek state for its green energy project. This sent the stock into breakout mode on Thursday. 

Traders love to see a company get a government contract, no matter which government it may be. Bureaucrats tend to have the money to pay up. 

ADN closed down 27.57% on Friday at $2.89. But it’s still up 124.03% on its five-day chart. 

Friday’s closing price kept it close to the very critical $3 key level. If it can reclaim and hold $3 and above on Tuesday, with strong volume, it could then retest its Thursday highs in the $4 and above range. Let’s hope for some followup PR.

SoundHound AI Inc. (NASDAQ: SOUN)

SoundHound produces audio, speech, and natural language recognition technology. The company announced a first-of-its-kind voice ordering service for the restaurant industry that could integrate with Square POS (Block Inc. NYSE: SQ).

But nothing significant seems to be circling the media since that piece came out on May 19. Is it chat pumps? Is it the Nasdaq closing up 1.43% on Friday? We can’t be certain what was behind its rise on Friday. The stock closed up 49.81% at an even $4.00.

On Tuesday, see if SOUN released any significant news. Always pay attention to if the high volume continues. The stock hit an intraday high of $5.07 before consolidating. It would definitely have to break that level to catch my attention. 

With great news and volume, a break of $5 could send it to $6 and above. There’s very strong previous resistance at the $8 level.

Conclusion

The stock market is back for traders … the vibe is very risk-on lately as multi-day breakouts keep rocking. 

As a veteran trader, I want to keep my eyes on what’s happening until I see setups I want to jump into. It helps that I trade on both sides — crypto and stocks.  

Right now, crypto looks like it’s in the middle of setting up for one of the most epic bounces in history. And I’m champing at the bit to be there when it happens. If you want in, you have to learn exactly what to look for. And the great news is, once you learn my top crypto strategies, you’ll be a stronger small-cap trader as well. It all starts in the Crypto War Room — see you there?

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