Here are our top investing ideas today – these setups look primed! Be the best prepared trader on the Street!
MTCH – Up 12% after beating earnings and posting profit
AMSC – Closed up 60% yesterday on LK99 superconductor breakthrough hype
LIDR – Up over 32% in pre-market, continuing its big run in recent days
Jason just hit his 100th win since inception!
(that’s -> 100W’s / 7L’s)
*Trading is hard, results not guaranteed.
It Might Even Seem Impossible.
MTCH – Up 12% after beating earnings and posting profit
Match Group (MTCH) provides dating products worldwide. The company’s portfolio of brands includes Tinder, Match, The League, Azar, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and Hakuna, as well as various other brands.
Overnight, MTCH reported Q2 EPS of $0.48 vs $0.44 expected. Revenue came in at $830 million vs the $811.36 million consensus. MTCH guided Q3 revenue of $875-885 million, versus the $863.4 million estimate.
The profit, earnings beat and better than expected guidance has the stock up over 12% in pre-market.
In addition, BTIG analyst Jake Fuller upgraded MTCH from Neutral to Buy this morning, with a price target of $60.00.
The $52 area has acted as resistance in the after-hours and pre-market.
Above it, the first target for bulls is the pre-market high at $52.50. Beyond that, $54, $56 and $58 come into play.
Below $52, there is potential support at $51, $50, $49 with a gap to fill at $46.15.
AMSC – Closed up 60% yesterday on LK99 superconductor breakthrough hype
American Superconductor Corporation (AMSC), together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates in two segments, Grid and Wind.
The stock is in play, after papers were published in South Korea last week claiming they had been able to create a room temperature superconductor known as LK-99. This breakthrough would potentially achieve a holy grail of engineering and physics allowing for more efficient energy transfer. It would also upend the entire semiconductor industry as well.
Despite no clear indication that the breakthrough is definitely real. And despite numerous attempts to replicate the study, none have yet done so convincingly. However, the hype cannot be denied with investors and engineers alike. Investors are choosing to play the LK-99 breakthrough by placing bets on AMSC.
The stock was 60% higher yesterday on LK-99 hype.
$17 acted as a resistance level in yesterday’s trade and also this morning’s pre-market.
Above it, targets to the upside are $18, $19, $22 and $25. Beyond that $30 and $40 come into play given the major hype.
Below $17, there is potential support at $15, $14, $13.31, $11 and a gap to fill at $10.08.
LIDR – Up over 32% in pre-market, continuing its big run in recent days
AEye Inc (LIDR) together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States and internationally.
LIDR gained investors’ interest on Friday gapping higher and trading on increased volume. There was no news attributable for the price action, however a few days prior it was announced that LIDR would be attending the JP Morgan Automotive Conference, New York, NY on Aug 10, 2023 as well as the Jefferies Semiconductor, IT Hardware & Communications Technology Summit in Chicago on August 29th.
The stock is up over 100% since Friday’s close and is gapping 32% higher this morning in pre-market.
The $0.69 area was resistance in the pre-market and now becomes a potential support area.
Above it, the first target for bulls is the pre-market high at $0.8140. Beyond that, $0.95, $1, $1.10, $1.30 and $1.50 come into play.
Below $0.69, there is potential support at $0.60, $0.55, $0.50, $0.435, and then $0.38.
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