Jack Ma back in the good books

Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! Be the best prepared trader on the Street!

BABA - Alibaba over 6% higher in pre-market as Jack Ma’s Ant Group gets regulatory approval for a $1.5 billion dollar capital raise plan

MSFT - Microsoft and OpenAi working on ChatGPT powered Bing- Code Red Google

CRM - Over 3% higher in pre after announcing it would reduce its workforce by 10%

Even In 2022’s “Tough” Market

Jeff Bishop Isolated Stand-Out Moves

→ “Upside-Down” Trades

→ “Outside of the Box” Ideas

→ “Alternative” Techniques

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Simply Put, He Set A Trend In Markets

And in 2023, His Goal Is to Repeat the Process!

Tomorrow, January 5 at 1PM ET…

👉 Jeff Reveals The “Trend Setter” 👈

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BABA - Alibaba over 6% higher in pre-market as Jack Ma’s Ant Group gets regulatory approval for a $1.5 billion dollar capital raise plan

The China Banking and Insurance Regulatory Commission reportedly approved Jack Ma’s Ant Group’s plan to raise its capital to 18.5 billion yuan. This would allow the company to raise 10.5 billion yuan (or $1.5 billion) for its consumer unit.

This news could be the beginning of a turnaround for BABA. Its spectacular fall in 2021 and ‘22 began when Chinese authorities refused Ant Group’s IPO in its final stages due to a failure to meet a changing regulatory framework in the financial sector. BABA owns approximately 33% of Ant Group and that IPO has still failed to occur.

This could be a sign of easing regulations and a positive for both Ant and BABA.

The $98.50 area was resistance in the premarket and has been a resistance level in the past so that should be an important pivot level.

Above it the next target to the upside is the psychologically important $100, and the next important levels of potential resistance are $104 and $105. There is a gap to fill at $120.90 on the longer term chart.

Below $98.50, the next major potential support level is the $94-$95 area which was prior resistance and then there is a gap to fill at $91.98 which was yesterday’s close.

MSFT - Microsoft and OpenAi working on ChatGPT powered Bing: Code Red Google

In a challenge to Google, reports today are that Microsoft is working with OpenAi to include ChatGPT to power its Bing search engine. Chat GPT is an AI software that is taking the world by storm in its ability to write detailed reports, computer code and interact with users in seconds with high command of the English language.

Microsoft invested $1 billion in OpenAi back in 2019.

ChatGPT can deliver direct answers quickly, not pages of endless links. That's reportedly scaring Google.

Microsoft is gapping lower this morning after a downgrade from UBS from Buy to Neutral and a price target lowered from $300 to $250. While the initial reaction to this downgrade is negative, the report on ChatGPT could bring some dip buyers in on the open, so this is one to watch this morning.

$234 has been a major support level over the past couple of weeks. Above it the target is a gap fill back to yesterday’s close of $239.58 with the next major resistance level of $245 above that.

Below $234 targets to the downside are $226 and then a gap fill to $224.63 from early November.

CRM - Over 3% higher in pre after announcing it would reduce its workforce by 10%

Salesforce is gapping higher this morning after announcing it would reduce office space and exit select real estate within certain markets along with a 10% reduction in its workforce. They beat earnings and sales estimates in November, so this reduction in expenses could further strengthen the company’s bottom line earnings moving forward. The initial reaction is positive from the market.

$139.88 is a major prior resistance level that CRM is opening near this a.m. and should be an important pivot point.

Above it the next targets to the upside are $144, $148 and $150.

Below $140, there is potential support at $137, $136 and a gap to fill at $134.78. Below that, $132-$133 is the next potential support area.

Economic Calendar Wednesday Jan 4 (ET)

7:00am MBA Mortgage Applications

8:55am Redbook Sales

10:00am ISM Mfg Index

10:00am JOLTS

2:00pm FOMC Minutes

4:30pm API Crude Oil Data

Earnings for Wednesday Jan 4

After Market:

RELL, RGP, SLP

VERA: Vera Therapeutics Announces Positive Topline Results of Phase 2b ORIGIN Clinical Trial of Atacicept for the Treatment of IgA Nephropathy

NVGS: Navigator Holdings Ltd. Announces Repayment of NOK 600 million Senior Secured Bond

CZOO: NYSE to suspend trading immediately in warrants of Cazoo Group LTD (CZOO WS) and commence delisting proceedings

RIVN: Rivian Produced 10,020 Vehicles in Q4 2022 - tradewirellc.

MSFT: Video game workers establish MSFT's first union, via FOX Business

AMZN: Filed Form 8K. On January 3, 2023, Amazon.com, Inc. (the “Company”), Toronto Dominion (Texas) LLC, as administrative agent, and the other lenders party thereto entered into a credit agreement (the “Term Loan Agreement”). The Term Loan Agreement provides the Company with an unsecured $8.0 billion term loan (the “Term Loan”) that will mature in 364 days but may be extended for an additional period of 364 days.

CING: Filed Form S-3 $100Million Mixed Shelf 

HOTH: Closing of $10 Million Private Placement Priced At-the-Market Under Nasdaq Rules

IMMX: Filed Form S-3. $250,000,000. Mixed Shelf 

GM: General Motors to Add 5,000 Jobs in Northern Mexico, Economy Ministry Says - Reuters.

BABA: Chinese regulators approve capital expansion for Ant Group, finance affiliate of Alibaba

GENI: Genius Sports and SoftConstruct Agree to Settlement Resolving Legal Dispute; SoftConstruct Agrees to Purchase a Multi-Year License to Supply Genius' Data Via Its BetConstruct and FeedConstruct Channels, Acknowledging Genius's Ownership of Database rights

AULT: Ault Alliance’s Subsidiary BitNile Issues 2022 Bitcoin Production and Mining Report Highlighting a Current Projected Run Rate of Approximately 1,500 Bitcoin a Year

AAPL: Wedbush Cuts Target Price To $175 From $200

AMZN GOOG META MTCH SNAP: BUY @ NewStreet

BCYC: Bicycle Therapeutics Announces FDA Fast Track Designation Granted to BT8009 for the Treatment of Adult Patients with Previously Treated Locally Advanced or Metastatic Urothelial Cancer

MRNA: Moderna to Buy OriCiro Genomics for $85 Million

MSFT: Microsoft to invest in autonomous trucking startup Gatik - Reuters.

AAPL: Apple Iphone U.S. Sales Via Carriers Climbed In November "iphone Share At All Three Carriers Remains Elevated Above Pre-Launch Levels And Has Even Increased Modestly Relative To The Share In October" – JPM

CERT: Certara Acquires Vyasa, an Artificial Intelligence Company that Delivers Predictions to Accelerate Scientific Innovation

AIM: Thomas K. reports buying 161,291 shares of AIM for a total cost of $50,000.21

AIM: Rodino Peter W. III reports buying 80,646 shares of AIM for a total cost of $25,000.26

AIM: Stewart Appelrouth reports buying 80,646 shares of AIM for a total cost of $25,000.26

HZNP: Horizon Therapeutics plc Announces First Patient Enrolled in Phase 2 Trial Evaluating Daxdilimab for the Treatment of Discoid Lupus Erythematosus

VISL: Vislink Receives Over $2 Million in New Airborne Downlink Orders From U.S. and Canadian Law Enforcement Agencies

JSPR: Jasper Therapeutics Announces European Union Orphan Drug Designation for Briquilimab as a Conditioning Treatment for Patients Prior to Receiving a Stem Cell Transplant

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