Good morning, SqueezeFinders-
We enter another week with the $QQQ tech index at all-time highs. We closed on Thursday at 556.22 (+0.98%) after making an intraday new all-time high at 557.2. Bulls continue to be strongly in control, and I wouldn’t worry about any pullbacks until the bulls can no longer hold the 540 level. Ideally we can turn the old resistance into new support. With no big earnings report this week, and no major economic data releases today, I would expect some consolidation or establishment of new support closer to 550. Bitcoin is trading at ~$110k/coin, and Gold at ~$3,320/oz. Regardless of broader market sentiment, you can always locate relative strength by tapping/clicking on the column headers to sort the live watchlist in descending order of whichever data metric is important to you.
Today's economic data releases are:
🇺🇸 Fed’s Balance Sheet @ 4:30PM ET
📙Breakdown point: BELOW this price, the move will lose momentum significantly in the short-term, as shorts will gain confidence encouraging them to short more. Reducing probability of a squeeze without a catalyst.
📙Breakout point: ABOVE this price, the move will gain momentum significantly in the short-term, as shorts losses will increase pressuring them to cover. Increasing the probability of a squeeze occurring, especially if with a catalyst.
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$ABAT
Squeezability Score: 49%
Juice Target: 3.30
Confidence: 🍊 🍊 🍊
Price: 1.83 (-2.66%)
Breakdown point: 1.6
Breakout point: 2.3
Mentions (30D): 3
Event/Condition: Big elevated rel vol expansion + Company’s Tonopah Lithium Flats Project selected as transparency priority by U.S. federal permitting council + Company also recently selected to be added to Russell 2000 index + Company also recently won prestigious industry-judged global Voltas Award presented by Fastmarkets for Pioneering Battery Recycling Innovations + Potential cup & handle technical pattern playing out on daily time-frame. -
$SOFI
Squeezability Score: 48%
Juice Target: 24.6
Confidence: 🍊 🍊 🍊
Price: 18.57 (+2.48%)
Breakdown point: 16.8
Breakout point: 19.0
Mentions (30D): 3
Event/Condition: Long-term potential cup & handle technical pattern playing out + Potentially imminent resumption of long-term uptrend + Bullish momentum + Recently company made return to crypto + Company and Benzinga recently announced new partnership to power next-generation investment research + New price target 🎯 of $20 from Stephens.
HINT: Use code RDDT at checkout for a FREE WEEK!
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