TOP 5 STOCKS TO WATCH BEFORE MARKETS OPEN!
In a Nutshell
Markets opened Sunday with a gap-up on US-Iran ceasefire news but are now pulling back while testing critical EMA support. Among the five stocks reviewed, Micron stands out as the strongest fundamentally with accelerating growth and reasonable valuation, while SoFi, Coinbase, Vera Therapeutics, and SpaceX are flagged as expensive or speculative. The speaker warns against options trading, biotech bets, and most hype-driven names, urging caution as markets face a shortened holiday week with key economic data ahead.
These notes were generated by AI and may contain inaccuracies.
Happy Sunday. Markets opened in overnight hours with the NASDAQ gapped up following news that the US and Iran agreed to halt strikes and meet this week. The previous meeting scheduled for today was cancelled. Markets typically experience this pattern where attacks are announced after Friday close when markets are closed, then positive developments emerge right before Sunday futures open. Despite the gap up, markets have already begun giving back gains.
Markets are at a critical technical point testing major support on the EMA line. If this support breaks, it would be the first time trading below that EMA since Trump initiated tweets and the ceasefire agreement with Iran. Potential downside targets include retesting 685, 660, or 630 around the moving average where old resistance levels can act as new support.
Key economic events to watch:
- Tuesday: JOLTS job openings data and consumer confidence report
- Wednesday: ISM manufacturing PMI report
- Thursday: Initial claims and continuing claims job reports
- Friday: US markets closed for 4th of July observance
This creates a short 4-day trading week with multiple potential catalysts.
SoFi is trading at $17 after running up to highs of $32 and crashing down to lows of $15, representing a 50% loss. The stock is consolidating in a range with common resistance around $20 and common support around $15. Fair value analysis shows 13.7% downside potential. The company produces $579 million in net income with $3.9 billion in overall profit but trades at 39.8 times earnings.
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