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With last week's blood shed the market sits at a crossroad of correction continuation and rebound relief. With the Russell almost down 20% from it’s highs, a lot is riding on the Fed and their subsequent tightening. Keep an eye on the dollar nearing December lows and the VIX nearing December highs. Kohl’s KSS (+30%) on an absolute tear to start the week- could lead the relief rally this market needs. Futures not looking too hot either, withering away whatever gains in crypto over the weekend. Big week for earnings, IBM after close today, MSFT tomorrow, AT&T, Intel, Tesla on Wednesday, Apple Visa, Mastercard, McDonald's, Robinhood and Tractor Supply on Thursday and Caterpillar and Chevron on Friday.
Jumping right into our list we’ve got Netflix $NFLX coming in at number one after the Jefferies downgraded their price target of $415 from $737 and they missed earnings and sold off 20%. More upside if it goes green and clears premarket high.
Coinbase $COIN sub $200 is also looking rather juicy as well. In terms of an exchange, Coinbase is second to none and their user base will likely never be matched. In addition, their NFT platform should see integration early spring which will expand the company’s reach even more so.
American Battery Technology Company $ABML is one that I’ve mentioned before but it’s standing out even more now in a sea of red, has recently seen a nice pop after delivering it’s first batch of Tonopah Flat’s Lithium Samples.
My earnings plays will most likely be Tesla $TSLA as I like that chart the most. It’s held it’s December low and could be an important stock to watch as Elon and their earnings tend to beat estimates. Finally, AT&T $T is holding strong through the turmoil and anticipating a beat as well so continuing to build out my optimistic position in the cellular service giant.
Photo: Google Finance
P.S I like Fisker $FSR at these levels too and think the company will outline themselves as an EV frontrunner in coming years. Lastly, I am any energy plays are likely to print moving forward, just trust the process.