[ALERT] Potential Breakout Opportunity 🚨

Biotech is leading today's premarket gainers. Get a full report on all 4 top stocks inside [Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's October 24th. Let's get ready to trade! Markets 📈 US Indexes closed last week with an epic rally on Friday. The S&P 500 and Nasdaq both added 2.3%, while the Dow jumped 2.4%. The small-cap Russell 2K notched a 2.2% advance on the day. Today, futures are edging higher ahead of the opening bell. S&P 500 contracts are showing a 0.3% gain in early-morning premarket trading. Sponsored [[ALERT] Potential Breakout Opportunity 🚨]( This up-and-coming lithium stock could be on track for massive gains in the weeks ahead. The company has made several big moves in 2022, and experts believe it could be on track for a breakout year. Share prices are currently in an up-trend, and the stock could be headed for a new 52W high after blowing by a key resistance point in October. The stock could have the key fundamentals and strong momentum needed to make it to the big time. And now could be a great time to make a play. [Get the Stock's Ticker in this In-Depth Report]( Premarket Highlights 🔎 - China Tech Tumbles. Chinese tech stocks fell after Pres. Xi Jinping cemented his control over the Chinese Communist Part at a party congress assembly over the weekend. What to Watch Today 👀 Interest Rate Respite Signs are beginning to emerge that point down to a possible slowdown in the Fed's aggressive rate-cutting push. Recent comments from some fed officials show that some portion of the policy committee is in favor of slowing down rate increases to give the economy some room to breathe. However, last month's inflation numbers weren't pretty, and the Fed has a mandate to cool off inflation to its 2.0% target. I don't know if this wishful thinking will prevent another 0.75% rate hike next month, but the rumors have certainly brought the bulls back into the fold over the past few days. International 🌍 Asia The Hang Seng Composite sold-off for a whopping 6.3% loss in its first trading session of the week, and the Shanghai Composite fell 2.0%. Australia's ASX 200 rallied 1.5%. Europe Germany's DAX is up 1.3%, and France's CAC 40 is showing a 1.5% gain. The Euro Stoxx 600 is up 1.3%. Major Earnings 💰 Cadence Design Systems, Inc. [CDNS] ... PM Discover Financial Services [DFS] ... PM Alexandria Real Estate Equities, Inc. [ARE] ... PM W.R. Berkley Corporation [WRB] ... PM Brown & Brown, Inc. [BRO] ... PM Sun Communities, Inc. [SUI] ... PM Packaging Corporation Of America [PKG] ... PM Crown Holdings, Inc. [CCKD] ... PM Range Resources Corporation [RRC] ... PM Southstate Corporation [SSB] ... PM Economy 🏗 - Chicago Fed national activity index [Sep] ... 8:30a - S&P U.S. manufacturing PMI [Oct] ... 9:45a - S&P U.S. services PMI [Oct] ... 9:45a Running Hot 🔥 Gainers - Orion Group [ORN] >> +20.0% - Very Good Food Co. [VGFC] >> +21.8% - Monopar Therapeutics [MNPR] >> +15.3% Decliners - Pinduoduo [PDD] >> (16.0%) - Tricida [TCDA] >> (94.6%) - Owens & Minor [OMI] >> (8.7%) Vaxcyte Inc [PCVX] - Last Close: $20.58 Vaxcyte is moving higher on upbeat drug data. The clinical-stage biotech company's investigational 24-valent pneumococcal conjugate vaccine met primary safety and tolerability objectives in its phase 1.2 clinical proof-of-concept study. The topline results show that VAX-24 met or exceeded regulatory immunogenicity standards for all 24 types at the conventional 2.2 microgram dose. The company now expects to progress trails to Phase 3. PCVX is one of this morning's top performers with a 39.4% gain. My Take: This biotech stock had a sharp selloff last week, but it's already erased those losses with today's rally. This drug appears to be on track for an approval in the future, and this stock could be on course to set a new 52W high. Applied Genetics Technologies Corp [AGTC] - Last Close: $0.2401 News of a buyout deal is rocketing shares of Applied Genetics Technologies. The micro-cap biotech firm announced today that it had agreed to be acquired through a tender offer for approximately $25.3 million with a new portfolio company of Syncona Limited. Under the terms of the deal, shareholders will receive $0.34 per share in exchange for their shares of AGTC common stock, representing a 42% premium to its Friday closing price. Shareholders will also be eligible for payments of up to $50 million depending on the outcome of certain clinical and commercial milestones. If the milestones are achieved, they could bring the aggregate price up to $1.07 per share. Upon closing, AGTC will become a privately-held company with no public listings. AGTC is today's top premarket mover with a 62.4% gain on active trading volume. My Take: Share prices have already rallied well past the $0.34 per share acquisition price, so it looks like the market is betting on those $50 million worth of milestone payments to kick in. If they're right, there could still be upside in this trade, but it could take a while for it to all shake out. ASAP, Inc [WTRH] - Last Close: $0.1413 ASAP, Inc is pushing higher on a new launch. On Friday, the delivery company, formerly known as Waitr Holdings, officially launched its services in a key US market, New York City. ASAP.com announced the launch of home and office delivery services in NYC on Friday, and key executives say its only the beginning of a key push into the Tri-State area. In addition to food delivery, ASAP.com offers delivery of a wide variety of items, utilizing its “deliver anything ASAP” model. Products available for delivery include alcohol, grocery, convenience, and retail. WTRH barely moved on Friday when the news broke, but it's up 23.8% on high trading volume in today's premarket. My Take: This stock has been trying to push higher over the last week, but delivery is a tough business. In NYC, they say, "if you can make it here, you can make it anywhere." If this company can make it in the Big Apple, it could have a lot of growth in its future. Mullen Automotive [MULN] - Last Close: $0.3761 A key weekend announcement is boosting shares of MULN. The EV manufacture announced this weekend that it had snagged former GM executive John Schwegman to oversee EV growth at the company. Schwegman previously spent 35 years at General Motors [GM], where he oversaw growth of commercial product lines and developed Chevy's EV prioritization, among other duties. Mullen says the new executive's primary focus will be growth strategy for Mullen's commercial EV line up, including Class 1 through Class 6 light- and medium-duty trucks. MULN is one of the most actively-traded stocks in the premarket, and it's showing a 14.5% gain. My Take: MULN could be gearing up for a big push higher. The stock saw huge gains last week, and it has officially broken above a key resistance level at around $0.35 per share. EV stocks are hot, and this one could be worth watching. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.P.S... Want alerts delivered straight to your cell every morning for free?* Text ELITE to 47121 or [click here]( to sign up now and get our watchlists sent directly to your phone! 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