Biden’s Infrastructure Plan Winners
Welcome back to the Rude Awakening for Thursday, April 1, 2021.
The start of a brand new quarter of trading, and the end of a shortened trading week.
And we are at the highest point we have ever been in the stock market.
It’s an interesting point to be at. Obviously we have hit all time highs before, and we keep seeing new ones hit sequentially with momentum.
Generally, we expect a pullback to come, and that’s what people are looking for now. But there is a lot of buying pressure in the markets now.
The Nasdaq has been trailing, but today it’s really starting to push higher again, now back up above the 50day MA.
The techs have been such laggers but today marks a major bullish signal for the Nasdaq.
Some trading opportunities today…
The first one we’re looking at today is a familiar one for us, Blink Charging Co. (BLNK). BLNK is already up almost 3% on the day, and has been continuing to push higher based on Biden’s infrastructure plan.
Another one to watch is Fitbit Inc (FIT), which is showing an 11% implied move reporting earnings after the bell today.
Next we have CarMax, Inc. (KMX) on the watchlist. It’s come down to support levels, currently down nearly 6% on the day after reporting earnings this morning. We think it could have even more downside potential. We are looking for support around the $117 level.
Have a great trading day, folks, and a great weekend.
We’ll be back with you on Monday!
Editor, Rude Awakening