Apes will be eyeing this stock today

Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! And make sure to check out our new daily 360 Events Calendar below!

BBBY - 4am runner and a cryptic Ryan Cohen tweet

CVAC - 2nd day play with positive joint Covid-19 and flu vaccine data and a Jeffries upgrade

VYGR- Receives $175 million up front and up to $1.5 billion in potential development milestones from Neurocrine Biosciences (NBIX)

Ok, so Jeff might suck at picking football teams…

But, he rocks when it comes to stocks.

While every trade won’t be a winner, he recently alerted option trades that went up over 320% on NFLX, 400% on CELH, and a whopping 700% on AMZN – all in just a few days’ time!

This option education service normally runs nearly $400 per year… but you can unlock everything right now for just $47! 

(btw, his new idea just dropped today, and it is 🔥!)

BBBY  - 4am runner and a cryptic Ryan Cohen tweet

Last week it was reported that Bed Bath & Beyond (BBBY) could file for bankruptcy within weeks according to The Wall St Journal. Last week the stock was down over 40% to close at all-time lows.

After last week’s capitulation BBBY was up over 70% in 10 minutes as the stock opened for pre-market trade. Perhaps this was a Reddit pump from over the weekend as there was no real news to change the fundamentals. Regardless, the stock is one short-term traders will be eyeing this morning given how much it is down. Over the last year or two bankruptcy plays have seen significant bounces out of nowhere.

This morning Ryan Cohen, a big part of previous GME and BBBY short squeezes tweeted, “Jack, I want you to draw me like one of your French girls. Wearing this. Wearing only this” – a reference to diamonds and possible reference to diamond hands. It should be noted this quote was also from the movie Titanic whether that is foreshadowing what is to come or not. At the very least it should get Apes excited today and make for some possibly great price action.

$1.80 was support in the pre-market and could be an important pivot level this morning.

Below it, targets to the downside are $1.50 and then a gap fill to yesterday’s close of $1.31. $1 would be a magnet below that.

To the upside $2 would be a psychological target and the pre-market high was $2.29. Above that there is a gap to fill at $2.41 and then $3 was a prior support level.

CVAC - 2nd day play with positive joint Covid-19 and flu vaccine data and a Jeffries upgrade

CureVac (CVAC) closed over 29% higher on Friday after announcing positive data for its joint Covid-19 and Flu mRNA Vaccine Development programs. After the big day Friday Jeffries upgraded CVAC to a Buy and increased its price target from $9 to $21. That’s over 100% premium to current levels and the stock is up another 24% this morning.

The $10.50 area was resistance in pre-market for CVAC with the pre-market high being $10.80.

Above $10.80, the next potential resistance levels are at $11, 11.50 and then $12.50.

Below $10.50, $9.80-$10 is a potential support area with $9.30 the next level.

Below that $8.50 was prior resistance that is potential support and there is a gap to fill at $8.26 to yesterday’s close. Below that $7 was a major support level previously.

VYGR - Receives $175 million up front and up to $1.5 billion in potential development milestones from Neurocrine Biosciences (NBIX)

NBIX and VYGR today announced a new strategic collaboration to advance multiple gene therapies for the treatment of neurological diseases including Parkinson’s Disease.

VYGR is up over 38% on this news in the pre-market. VYGR closed Friday with a market cap of $242.83 million according to Finviz so this award represents a significant amount of the company’s value. It should also be noted that NBIX has a market cap of $11.83B according to Google Finance so this is a significant partnership for VYGR.

$10.50 was pre-market resistance for VYGR, with $11 being the pre-market high. Above that the next major targets would be $12 and $12.60.

To the downside there is potential support at the $9-$9.20 area from the pre-market with targets below that to the downside at $8.50, $8 and then $7.50.

Economic Calendar

11:30 am 3-6 Month Bill auction

12:30 pm Fed Speak Raphael Bostic

12:30 pm Fed Speak Mary Daly

12:30 pm Investor Movement index

3:00 pm US Consumer Credit

Earnings for Today (After Market)

ACCD, APLD, AZZ, ETWO, JEF, PCYO, PSMT, VOXX, WDFC

Expected IPO Openings This Week

ATLX, MGOL, SKWD

IPO Lock-Up Expiration

Monday: ILAG, NA Wednesday: HKD

Top Headlines

BMRN: BioMarin Announces Stable and Durable Annualized Bleed Control for ROCTAVIAN™ in Largest Phase 3 Gene Therapy Study in Adults with Severe Hemophilia A; 134-Participant Study Met All Primary and Secondary Efficacy Endpoints at 3-Year Analysis

TSLA Shanghai, Jan 7 (Reuters) - Hundreds of Tesla Owners Gathered At The Automaker's Showrooms And Distribution Centers In China Over The Weekend, Demanding Rebates And Credit After Sudden Price Cuts They Said Meant They Had Overpaid For Electric Cars They Bought Earlier.

TSLA Tesla delivery time is longer on some China models after discounts – rtrs

TSLA Tesla is starting to hire for its new lithium refinery, which Elon Musk referred to as a ‘license to print money’ in Corpus Christi, Texas. – Electrek

U.S. Department of Energy Rejects Initial Bids to Resupply Oil Stockpile – RTRS

PHAT Phathom Pharmaceuticals Announces Positive Topline Results from Phase 3 PHALCON-NERD-301 Trial Evaluating Daily Dosing of Vonoprazan for Symptomatic Non-Erosive Gastroesophageal Reflux Disease (NERD)

LULU: lululemon athletica inc. Updates Revenue and Earnings Expectations for the Fourth Quarter Ahead of the ICR Conference the Company now expects that net revenue will be in the range of $2.660 billion to $2.700 billion, representing a 25%-27% increase compared to the fourth quarter of fiscal 2021. The previous guidance range was $2.605 billion to $2.655 billion.

AGRX: Agile Therapeutics Provides Updates on 2022 Twirla Performance and 2023 Commercial Plan -- Fourth Quarter 2022 Twirla Factory Sales Expected to Increase Approximately 30% from Third Quarter 2022

Full Year 2022 Factory Sales Expected to Increase Approximately 232% from Full Year 2021

Full Year 2023 Net Revenue Expected to be in Range of $25-$30 million

MRNA Moderna Increasing Planned 2023 R&d Investment To $4.5 Billion

OCGN Ocugen Announces Positive Top-Line Data for COVID-19 Vaccine Candidate COVAXIN™ (BBV152) in Phase 2/3 Immuno-bridging and Broadening Study: Both Co-primary Endpoints Met

CINC/ AZN AstraZeneca said on Monday it had struck a deal to buy U.S.-based drug developer CinCor Pharma Inc for up to $1.8 billion to increase its stock of heart and kidney drugs - Reuters

BYD Berkshire Hathaway sells 1.1 million H-shares in China's BYD The sale lowered Berkshire's holdings in BYD's total issued H-shares to 13.97% on Jan. 3 from 14.06%, a filing to the Hong Kong Stock Exchange showed on Monday.

GS Goldman Sachs Group Inc will start one of its biggest rounds of job cuts ever, as it locks in on a plan to eliminate about 3,200 positions this week, Bloomberg News reported on Sunday.

CALA Announces Board Approval of Complete Liquidation and Dissolution

HEPA: Hepion Pharmaceuticals Receives $3.2 Million in Aggregate Non-Dilutive Funding

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