Are we at the top?!!
Let's start with C3.ai. Recently, we witnessed an interesting pattern where the stock showed significant movement. In a previous video, I mentioned that this stock was expected to experience a substantial move, although the direction was uncertain. This presented an opportunity for options plays like the long straddle or long strangle to take advantage of the expected volatility.
If you are unfamiliar with options, there are alternative ways to play volatility. However, it's important to note that the options premiums for C3.ai can be relatively high, making calls and puts more expensive. Nonetheless, if you believe in the potential of the stock, it could be worth considering.
C3.ai had a remarkable movement of almost 15% in just one day, reaching a high of $45.22 per share before closing around $43 per share. It's crucial to keep an eye on the stock's support and resistance levels, particularly the $44 mark. Without significant news or improved revenue, it may be challenging for C3.ai to sustain its current valuation.
Moving on to SoFi, I am personally invested in this company. I believe SoFi has the potential to become profitable in the near future, with CEO Anthony Noto expecting profitability by Q4 of 2023. The stock experienced a drop in price due to earnings falling short of expectations. However, upcoming guidance and the end of the student loan moratorium may impact its trajectory.
SoFi has shown growth and momentum recently. As an investor, I would welcome a price pullback to increase my position. I have also sold some calls to take advantage of the premiums and reinvest them into additional shares. While I do not anticipate my existing shares being called away, I expect a pullback to occur, potentially reaching $9 per share or even a hard resistance level around $8 to $8.50.
As of the pre-market, SoFi is trading at $9.88. However, market events like the PPE release at 8:30 a.m. and the FOMC meeting at 2:00 p.m. can influence the stock's performance.
Now let's discuss Tesla. Tesla has not yet experienced its Golden Cross moment, but it has been the leader in the electric vehicle (EV) space. Although there are concerns about demand, Tesla's supercharging network continues to attract interest, including partnerships with Ford and GM.
It would be beneficial to wait until July 2nd for the next quarterly delivery numbers, as they could impact future projections. Tesla may have further room to grow, but it is currently overbought, with its RSI consistently above 70. I anticipate a pullback soon, potentially reaching around $230 per share, before resuming a bullish trend.
Now, let's briefly touch on some other stocks. Dynavax Technologies (DVAX) is worth watching due to its recent positive price action and engulfing candle pattern. While it is not as widely traded, it has shown momentum and has the potential to rise further.
EOG Resources (EOG), on the other hand, is a bearish opportunity. It has dropped below the 200-day moving average and may continue to fall by approximately 10% in the short term.
The speaker discusses Academy Sports and Outdoors (ASO) stock. They suggest considering selling the stock or buying longer-term put options. They also mention the possibility of a death cross formation if the stock breaks below the 200-day moving average, which could signify weakness in the stock.
If you are unfamiliar with options, there are alternative ways to play volatility. However, it's important to note that the options premiums for C3.ai can be relatively high, making calls and puts more expensive. Nonetheless, if you believe in the potential of the stock, it could be worth considering.
C3.ai had a remarkable movement of almost 15% in just one day, reaching a high of $45.22 per share before closing around $43 per share. It's crucial to keep an eye on the stock's support and resistance levels, particularly the $44 mark. Without significant news or improved revenue, it may be challenging for C3.ai to sustain its current valuation.
Moving on to SoFi, I am personally invested in this company. I believe SoFi has the potential to become profitable in the near future, with CEO Anthony Noto expecting profitability by Q4 of 2023. The stock experienced a drop in price due to earnings falling short of expectations. However, upcoming guidance and the end of the student loan moratorium may impact its trajectory.
SoFi has shown growth and momentum recently. As an investor, I would welcome a price pullback to increase my position. I have also sold some calls to take advantage of the premiums and reinvest them into additional shares. While I do not anticipate my existing shares being called away, I expect a pullback to occur, potentially reaching $9 per share or even a hard resistance level around $8 to $8.50.
As of the pre-market, SoFi is trading at $9.88. However, market events like the PPE release at 8:30 a.m. and the FOMC meeting at 2:00 p.m. can influence the stock's performance.
Now let's discuss Tesla. Tesla has not yet experienced its Golden Cross moment, but it has been the leader in the electric vehicle (EV) space. Although there are concerns about demand, Tesla's supercharging network continues to attract interest, including partnerships with Ford and GM.
It would be beneficial to wait until July 2nd for the next quarterly delivery numbers, as they could impact future projections. Tesla may have further room to grow, but it is currently overbought, with its RSI consistently above 70. I anticipate a pullback soon, potentially reaching around $230 per share, before resuming a bullish trend.
Now, let's briefly touch on some other stocks. Dynavax Technologies (DVAX) is worth watching due to its recent positive price action and engulfing candle pattern. While it is not as widely traded, it has shown momentum and has the potential to rise further.
EOG Resources (EOG), on the other hand, is a bearish opportunity. It has dropped below the 200-day moving average and may continue to fall by approximately 10% in the short term.
The speaker discusses Academy Sports and Outdoors (ASO) stock. They suggest considering selling the stock or buying longer-term put options. They also mention the possibility of a death cross formation if the stock breaks below the 200-day moving average, which could signify weakness in the stock.
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Doctor of Education, long-term investor, & stock trading enthusiast researching the markets and making decisions.
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