2 Catalysts to Locate Stocks Set to Soar

[RagingBull Elite]( Dear trader, Catalysts are one of the most effective ways traders can attack the market. One common form of catalysts is company earnings reports and we saw it catapult stocks yesterday. Stitch Fix (SFIX), for example, reported earnings yesterday that beat Wall Street’s expectations, and the stock popped over 40%. Today we have Adobe (ADBE) reporting, so it’s one we’ll want to keep an eye out for. Another big catalyst is company press releases. Just when traders thought electric vehicles were in bubble territory, we received bullish news that Tesla plans to raise $5 million in a new offering. Though the offering only represents 1% of the company’s overall value, it was enough to push TSLA’s stock up and numerous other EVs up with it. It just illustrates the power of sympathy plays in this market environment, and why it’s important to pay attention to the news. As you’ll learn in All-Access today, bullish news from big companies can propel smaller, related stocks even further… providing us with enticing trade ideas. In the early hours of trading yesterday, it seemed like the recent EV SPAC runners were doomed: LAZR couldn’t hold up after Citron’s short call, TRNE got below yesterday’s highs… However, just a few hours later, most of them went green on the day and some proceeded to make new all-time highs! One of the most interesting moves for traders came from our chart of the day today, QS. The stock exploded in the pre-market, and I think it’s important to recap what the stock did yesterday. For those who might have missed it, QuantumScape is a lithium-metal battery manufacturer. The company has partnered with Volkswagen in order to develop the most efficient battery. Based on the most recent company data, QuantumScape was able to achieve 80% battery charge in under 15 minutes. In short, investors have been really excited about QS, pushing it from $24.5 since the ticker change to as high as $73.43 in yesterday’s after-hours session. And here’s what happened yesterday: As you see, the chart was looking somewhat bearish in the first half of the day. Given that some other former and current SPACs were rolling over, it seemed imminent for QS to go down as well. However, despite all that weakness QS managed to hold up and never showed lower lows. After 2 pm buyers pushed the stock to VWAP, which was the first confirmation of its relative strength. As soon as the previous high of the day was broken at around 3:30 pm, the rally could not be contained anymore. The stock went up from $56.5 to $73.43 within just 4 hours. The main lesson here is not to lose track of stocks in hot sectors that display relative strength. As always, we must make sure to review the clues on the chart so we can be better prepared for trades like these. RagingBull’s no. 1 catalyst trader, Kyle Dennis, is actively watching SPACs right now. [Read this article to learn what other SPACs to watch, in addition to QS.]( Just yesterday we spoke about notable momentum acceleration across the board and what adjustments we, as traders, can make. Not much has changed overnight. If anything, Tuesday’s action only confirmed the theme we laid out— buying higher is a viable option in the current market. We’ve entered the “what goes up, must come down, may go even higher” phase. As clearly demonstrated by QS, this presents some attractive momentum trading opportunities. We know it’s very tempting to go big and win bigger— yet, at times like these, it’s more important than ever to remain mindful of the risks that additional volatility brings. That said, let’s take a look at some momo plays to keep on the radar. Luminar Technologies (LAZR): QuantumScape (QS): RMG Acquisition (RMG): Moderna (MRNA): There’s an old saying, plan the trade and trade the plan. One of the most important aspects of this is determining specific profit targets… without it, we’re just throwing darts with no goal in sight, in our opinion. As traders, one practice that can be helpful is looking at key support and resistance levels as a way of determining how far the stock will move. These levels act as psychological areas that other traders are focused upon. As you can see with Jeff Bishop’s BEKE trade idea in High Octane yesterday,* he aligned his first profit target with a previous support level that later became a resistance level. For his second profit target, he chose a level that corresponded to previous resistance. *WE MAY HOLD SECURITIES DISCUSSED. See disclaimer below Now, everyone is different when it comes to profit targets, and they’re there to help traders better plan their setups. Every trader is different and everyone’s risk tolerances are different, so when it comes to developing trade plans, make sure it’s suitable for your risk profile. [SPAC Attack: 3 Names On My Radar]( By Kyle Dennis of Biotech Breakouts --------------------------------------------------------------- [3 Names Gaining Momentum]( By JC Parets of Chart Hunter --------------------------------------------------------------- [4 Stocks Trading at Key Levels]( By Jeff Willaims of Penny Pro --------------------------------------------------------------- [My Favorite Ways To Trade BTC]( By Nathan Bear of Weekly Money Multiplier To Your Success,The RagingBull Team RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 [Click Here to stop receiving emails from support@ragingbull.com]( [Unsubscribe from all RagingBull emails]( 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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