Rabu, 31 Mei 2023

Watch Now – CTLT Joins TGT in Latest Stocks to Short ๐ŸŽฅ

 
   
     
   
 
MAY 31 2023
   

Dear Investor,

In today’s “Sizzle Stocks” session, we took a look at NVIDIA Corporation (NVDA), Catalent, Inc. (CTLT), and Target Corporation (TGT).

NVDA looks as though it has momentarily topped out.

 
 
By no means would I recommend shorting this stock as it’s at the center of developing AI driven mini-mania. But it could pullback to establish a near-term trading range between $419 and $370.

I’d consider the current trading price of $390 to be a good place to take short-term trading gains. And for those in a long-term buying mood, I believe you’ll have an opportunity to add to positions at lower prices.

So, sit on those bids.

CTLT, on the other hand, looks like a short.

 
 
Volume continues to build as the price goes down – with sharp drops between temporary islands of consolidation.

Based on the 30-day volume profile, $29 looks like a good near-term price target.

Those patterns of drops followed by higher volume consolidation at each lower price are a sign of building momentum.

And it’s that pattern that makes TGT a compelling short as well.

 
 
You can see the pattern in the chart above. It’s currently consolidating around $135, but the bias continues lower and $116 still looks like a good price target to me.

And to get more details, you are free to check out today’s “Sizzle Stocks” recording over on my Prosperity Pub channel on Telegram.


Take What the Markets Give You.
 
 
JEFFRY TURNMIRE
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