July 23, 2024
Peak euphoria hits this sector ?

Peak euphoria hits this sector ?


Here are our top investing ideas today – these setups look primed! Be the best prepared trader on the Street!

IDAI – Momentum continues, closes up 45% yesterday

CXAI – Trades up over 250% in pre-market on no news as overnight shorts are blown up

SAI – Another stock ending in AI up over 150% in pre-market on no news

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IDAI – Momentum continues, closes up 45% yesterday

We mentioned IDAI yesterday after it closed up over 100% on the announcement of 3 new U.S patents related to its Artificial Intelligence (AI) based biometric authentication technology.

The momentum continued yesterday with IDAI closing up another 45% yesterday and it gapped up another 8% higher this morning.

The $4.80-$5 area was resistance over the last 2 days and should be an important level to watch. IDAI broke through it late yesterday afternoon and this area became support in the after-hours and in the pre-market this morning.

Above $5, targets to the upside are $5.50, $6.50, $7 with the pre-market high at $7.79.

Below $4.80, there is potential support at $4.10-$4, $3.50, $3.30, $3, $2.86, $2.60 and $2.20 below that.

CXAI- Trades up over 250% in pre-market as overnight shorts are trapped

CXApp (CXAI) had no company specific news yesterday. However, it was the AI stock du jour yesterday as it closed up over 345% to close at $7.13. Perhaps the lack of any news meant some stubborn shorts were stuck (and that was the bait) as CXAI traded as high $69 in pre-market, perhaps blowing out a stuck short with a margin call.

CXAI is still up around 250% in pre-market trade on top of yesterday’s close trading around $25.

The $30 area has acted both support and resistance in the pre-market this morning so should be an important pivot level today.

Above it, targets to the upside are $33, $36, $39, with $45-$47 above that. The pre-market and all-time high is $69.47.

Below $30, there is potential support at $25, $21.50, $20, with $16-16.50 below that, then $12, yesterday’s high at $9.73 and a gap to fill at yesterday’s close of $7.13.

SAI – Another stock ending in AI up over 150% in pre-market on no news

As AI euphoria is approaching what could be its peak, SAI, another stock with a ticker ending in AI, closed up 24.57% yesterday, and gapped up another 150% this morning. There is no news for the stock, traders are running names that end in AI as we’ve seen all week. SAI is a low float stock, whichonly has 6.53 million shares in the float according to Finviz.

$3.45 was resistance in the pre-market. Now that SAI has broken through that, it becomes an area of potential support.

Above it, targets to the upside are $4, $4.30, $4.75, with the after-hours highs at $5.02. Beyond that, $6, $7, $9 and $10 come into play.

Below $3.45, there is potential support at $3.10, $2.80, $2.60, with $2 below that. Yesterday’s high was $1.92 with a gap to fill at yesterday’s close at $1.52.

8:30am Import Export Prices

8:45am Fed Speaker Christopher Waller

9:15am Industrial Production

10:00am Business Inventories

10:00am Consumer Sentiment

1:00pm Baker Hughes rig count

Earnings for Today (After Market)

NO after hours earnings scheduled.

ANIK Anika Enters into Cooperation Agreement with Caligan Partners

LLY: U.S. Food and Drug Administration Issues Complete Response Letter for Mirikizumab

BX: Blackstone and Dominium Expand Partnership to Bring Additional New Affordable Housing to Phoenix

UPTD: TradeUP Acquisition Corp. Announces Extension of the Deadline for an Initial Business Combination

BSGA: Bitdeer and Blue Safari Complete Business Combination

CC: Chemours Receives Two Awards from U.S. Department of Energy’s Better Plants Program

ONCT Oncternal Therapeutics Participating in Oppenheimer & Co.’s Virtual Fireside Chat: Discussion of ROR1 CAR T Cell Therapy in Hematological Malignancies and Solid Tumors

NAVB Navidea Biopharmaceuticals, Inc. Enters Asset Purchase Agreement with Meilleur Technologies, Inc. for Rights to NAV4694

CVX Chevron Canada Limited – is voluntarily relinquishing 19 offshore oil and gas permits on Canada’s west coast

CNSL Consolidated Communications Announces Receipt of “Take Private” Proposal from Searchlight Capital and British Columbia Investment Management

BA BOEING HALTS DELIVERY OF 737 MAX OVER QUALITY ISSUE “The problem involves two fittings that attach the jet’s vertical tail to the rear end of its fuselage.”

FTHM: Announces $3.5 Million Convertible Note Private Placement

BWEN: Broadwind Announces New $8 Million Order for Mobile Pressure Reducing Systems and Accessories

LU Lufax Holding Ltd Successfully Listed on the Main Board of The Stock Exchange of Hong Kong

MOLN Molecular Partners to Present Additional Preclinical Data Supporting the Company’s Radio DARPin Therapy Platform at AACR

TSLA Tesla: We Are Reducing Prices In Numerous European Markets – In Germany Price Cuts Affect All Model 3 Versions, The Model Y Performance And The Derivatives Of Model S And X

AZN New analysis of Phase II data at AACR assesses ImaginAb’s investigational CD8 ImmunoPET technology’s ability to predict response in immunotherapy

CS Credit Suisse Sees 80% Chance Of US Recession Over Next 12 Months Vs Earlier Projection Of 60% By Q1 2024

PSN Parsons Completes Acquisition of IPKeys Power Partners

LUCY: Innovative Eyewear Inc. Hosts Its First Smart Eyewear Fashion Show in Miami to Introduce Lucyd(R) Lyte 2.0 Collection With ChatGPT Integration

BRKR: Bruker Introduces New Mycobacteria and Fungi IVD Solutions for MALDI Biotyper, and a Novel LiquidArray Gastrointestinal Syndromic

MNMD: MindMed Collaborators Announce Positive Topline Data from Phase 2 Trial of Lysergide (LSD) in Major Depressive Disorder (MDD)

RNAZ: TransCode Therapeutics Announces Equity Investment from White Lion Capital to Help Fund Development of TTX-MC138 for Treatment of Glioblastomas

DNA: Ginkgo Bioworks and the Government of the Democratic Republic of the Congo Announce Plans to Develop and Implement New Biosecurity Capabilities in the Region

IXHL: Incannex Appoints QPS to Advance CannQuit-N(TM) (Nicotine), CannQuit-O(TM) (Opioid) and Renecann(TM) Products in the USA and EU

SNGX: Soligenix Provides Regulatory Update on HyBryte(TM)

VQS VIQ Solutions Introduces Cutting Edge Smart Application to Enable Mobile Capture of Audio and Video Evidence Automating Transcript Creation

OCGN Ocugen Announces Positive Preliminary Safety and Efficacy Results from the Phase 1/2 Trial of OCU400, a Modifier Gene Therapy Product Candidate, for the Treatment of Retinitis Pigmentosa and Leber Congenital Amaurosis

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