Major short squeeze in this stock, plus 2 earnings winners

Here are our top 3 trade ideas today – these setups look primed! Good day, 360 – Here are our top 3 trade ideas today – these setups look primed! And check out our NEWEST addition at the bottom, Market News. Let us know what you think! CIEN - Up over 16% in pre-market after beating on top and bottom line SMMT - 3rd day play, the short squeeze continued yesterday RENT - Up 25%, beats on earnings and guides better than expected ⚡ [Jason’s 2023 Rally… TODAY!]( ⚡ Nobody’s capable of outsmarting Wall Street. And you know you can’t outsmart Jason’s 2023 trading plan… See the blue line? That’s Jason’s historically-proven 2023 approach… More Than Doubling The S&P 500’s Performance [You’re only minutes away from learning how!]( AND getting Jason’s #1 “outperformance” trade alert [TODAY → 1PM EST]( CIEN - Up over 16% in pre-market after beating on top and bottom line CIEN announced Q4 EPS of $0.61 vs the $0.08 estimate. Reported sales of $971 million beat the $849.88 consensus. The company also said it sees “outsized” revenue growth in 2023. Investors cheered the earnings report with the stock trading over 16% higher in the pre-market. The pre-market high for CIEN is $52 which was a major prior level of resistance. Above that the next target to the upside would be a gap fill to $53.63 and then resistance around $55. To the downside there is potential support around the $48.40 area and then $46.40 which had been prior resistance. SMMT - 3rd day play, the short squeeze continues SMMT announced a definitive agreement of partnership with Akeso to license its breakthrough antibody on Tuesday. The deal was worth $5 billion as Akeso is eligible for up to $4.5 billion in milestone payments and $500 million up front in exchange for the license. SMMT trended to the upside Tuesday closing near its highs. After gapping lower yesterday it made the same pattern, trapping shorts trending to the upside and closing near the highs. The stock is gapping lower again this morning. There are plenty of games being played here, the only question is, how high will “they” push it before the rug is pulled and SMMT comes crashing down to earth. Yesterday’s high of $3.35 will be an important pivot for SMMT today. Any short sellers were again taken to the woodshed yesterday as the stock closed near the highs. Above $3.35 there is a major resistance at $3.45, $4 is a psychological magnet and above that there is a gap to fill at $4.98 Below $3.35 there is potential support at $2.60. There was major support around $2 yesterday, with targets of $1.74 then $1.56 below that. RENT - Up 25%, beats on earnings and guides better than expected Rent the Runway reported Q3 EPS of -$0.56 vs the -$0.71 estimate. The company guided FY 2023 revenue of $293-295 million versus the $287.55 million consensus. After gapping up as high as 25% in the after-hours RENT has settled to up around 15% in the pre-market. Given that the stock is down over 90% from its IPO day in October 2021, there is plenty of bounce potential here. Barclays maintains an Overweight rating on RENT and lowered its price target to $3. The high in the after-hours was $1.84 so that is the first big target to the upside. Above that, the next potential resistance areas are $2, $2.30, $2.65 and then a psychological magnet at $3. To the downside there is a gap to fill at $1.36 from yesterday’s close. Today’s Economic Calendar 8:30am ET: 👉Initial Jobless Claims: Expecting 230k 👉Continued Claims: Expecting 1.6 million 10:30am ET 👉EIA Natural Gas Report: EXPECTING -31bcf MSFT ORCL AMZN GOOG Google, Oracle, Amazon, and Microsoft win $9 billion joint DOD contract – Bloomberg MUSK BANKERS MULL TESLA MARGIN LOAN TO CUT RISKY TWITTER DEBT TSLA Tesla's China sales drop sequentially to 62,493 vehicles: CPCA Report TSLA TESLA TO SHORTEN SHANGHAI FACTORY SHIFTS, DELAY NEW STAFF HIRES *TESLA FACING FLAGGING DEMAND, INCREASED COMPETITION IN CHINA AAPL Twitter (TWTR) to charge $11 for Blue if paid via iPhone app, or $7 via website – report EXPR Express, Inc. and WHP Global Enter into Mutually Transformative Strategic Partnership, Leveraging a Platform to Build a Portfolio of Brands and Accelerate Long-Term Growth XOM Exxon share-repurchase program expanded up to $50b through 2024. XOM ExxonMobil expects to double earnings and cash flow potential by 2027, increases investments in lower-emissions efforts AAPL Foxconn Says Its Zhengzhou Facility Has Lifted Closed-Loop Management Covid Curbs NIO LI XPEV TSLA China Nov passenger vehicle sales drop 9.5%, first fall in six months – CPCA Chinese electric-car maker BYD eyes production in Europe as it widens lead over Tesla as world’s largest EV builder SCMP To Your Success! 62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email [Support@360wallstreet.io]( © Copyright 2022, RagingBull - Refund Policy - Privacy Policy - Terms & Conditions DISCLAIMER To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [( FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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