This High Flying Stock is Back in Play

Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! And make sure to check out the Market News roundup at the bottom. Be the best prepared trader on the Street!

CEI - Camber Energy announces reverse split, up over 80% in the pre-market

TSLA - Elon Musk runs poll on Twitter asking whether he should step down as CEO, TSLA 3% higher

NVDA - Needham maintains Buy on Nvidia, raises price target to $230

Tons of people have joined Bullseye Trades this weekend!

Exactly what you would expect when a service that normally sells for $400 a year drops the entry fee to just $47!

They realize my new enrollment rate is too good to be true, and in fact…it is!

Because this deal will not be around much longer.

You have until 9:30AM ET on Mondays to access this week’s Bullseye Trade!

CEI - Camber Energy announces reverse split, up over 80% in the pre-market

After announcing Friday that on December 21, CEI would conduct a 1:50 reverse split the stock skyrocketed by 50% in the after hours. It went as high as another 70% in the pre-market at 4am before selling off some.

As a reminder, CEI caused a lot of controversy last year as it ran from less than $0.50 to over $4. The stock was promoted heavily by Atlas Trading and affiliates such as Zack Morris and PJ Matlock who were recently indicted by the DOJ for securities fraud. The market tends to remember these names so expect for there to be some interest here for a few days.

There was some support around $0.10 this morning so that could be a pivot for today.

Above it, there is potential resistance at $0.12. The pre-market high of $0.16 will be the first big test for bulls. Beyond that, the next near-term targets are $0.20 and $0.25 with $0.35 being a prior support level.

Below $0.10 there is a gap to fill at $0.062 where the stock closed on Friday.

TSLA - Elon Musk runs poll on Twitter asking whether he should step down as CEO, TSLA 3% higher

TSLA CEO Elon Musk asked more than 120 million followers on Sunday if he should step down as the CEO of Twitter. Over 17 million Twitter users voted with around 57.5% calling for Elon Musk to step down.

Elon said he would abide by the results of the poll, tweeting, “As the saying goes, be careful what you wish, as you might get it.” Elon has abided by Twitter polls in the past.

Since Musk’s takeover of Twitter, TSLA stock has suffered significantly. Last week Musk disclosed he sold a further 22 million shares of the EV maker, worth $3.6 billion. The news that he is likely to step down could be very positive for TSLA as it may allay investor concerns about Elon’s focus.

$158 is the pre-market high and resistance this morning. The $155 area was support last week and is a potential pivot point today.

Above it the pre-market high of $158 is the first target with the $160 next, being a major resistance level last week. Above that the next target is prior resistance at $163 and then prior support at $167.50 above that.

Below $155, the next target to the downside is prior support at $152, and then a gap to fill at Friday’s close of $150.23. $150 would represent new 52-week lows for TSLA if it were to trade there.

NVDA - Needham maintains Buy on Nvidia, raises price target to $230

After 4 straight days of selling, Needham raised its price target for NVDA to $230. That represents over 35% upside in the name from current levels. After 4 down days and a retracement of over 10%, this news could bring some short-term buyers back into the name. NVDA traded 0.65% higher this a.m.

$165 held for most of the day Friday and should be an important potential support level moving forward.

Above it, targets to the upside are prior support of $167.40, and then the $170 area. Above that $173 is potential resistance with $175 next.

Below $165, $160 would be the next test, with prior support of $157 below that.

Economic Calendar Monday

Housing Market Index 11:30am ET

Earnings for Monday

After Market:

ARKR, HEI, ISPO, MRM, SCS

TSLA Poll run by Elon Musk on whether he should step down as head of Twitter ends, with “Yes” vote winning 57% of over 17 million votes. CNBC

Goldman Sachs names SolarEdge Technologies (SEDG) and First Solar (FSLR) top picks for 2023 – CNBC

BLUE FDA Lifts Partial Clinical Hold for bluebird bio’s Sickle Cell Disease (SCD) Studies for Patients Under the Age of 18

MDGL in MAESTRO- NASH Phase 3 study in more than 950 patients, Resmetirom achieved both primary endpoints and potentially clinically meaningful effects with both daily oral doses, 80 mg and 100 mg, relative to placebo.

NILE: BitNile Holdings Obtains $14.7 Million in Secured Debt Financing to Support Private Equity Investment

BIIB: Biogen Reaches Agreement with Genentech to Receive Royalties on the Potential Commercialization of a Late-Stage Bispecific Antibody as Part of Anti-CD20 Collaboration

SLNO: Soleno Therapeutics Announces Financing Commitment for up to $60 Million

AMZN - Amazon is called a 'Buffett Buy' at Evercore due to long-term potential

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