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Good morning, SqueezeFinders!
Yesterday’s price action began strong with an intraday high of day for the $QQQ tech of 735.38 before a dramatic drop to low of day at 720.85 after FOMC’s hawkish comments from the new Fed Chair, Kevin Warsh. The $QQQ tech index closed the day at 722.51 (-1.01%), but has been making a defiant recovery in overnight trading printing session highs above 733 to essentially erase the intraday jitters caused by the hawkish FOMC statements implying the potential for a rate hike by end of year. If the $QQQ tech index collapses under 720, we could likely see a swift decline towards the 710 area to locate support, and if not found, we could likely rush towards 700 psychological level depending on the outcome/verdict of the Middle-Eastern conflict MoU meeting on Friday. The main directional sentiment determinants today are a mix of the below-detailed economic data releases and any further developments regarding the pending deal with Iran. Regardless of broader market sentiment, you can always locate relative strength by checking SqueezeRadar to track irregularities in our data, or check out our automated trading robot, SqueezeBot to get an edge on the market without having to stare at the screen all day long. We just released the results for the month of March for SqueezeBot, and it was a shocking winrate of 74.63%, average gain was \~2.29% per trade (fixed % profit-taking scalps enabled). We allow for 3%, 5%, or 10% fixed profit-taking parameters. Check out SqueezeBot today!
🥇 Gold: \~$4,330/oz (+1.4%) 🥈 Silver: \~$70/oz (+2.2%) 🪙 Bitcoin: \~$63.9k/coin (-3.0%) 🛢️ Oil: \~$75.30/barrel (-2.0%)
Today's economic data releases are:
🇺🇸 Philadelphia Fed Manufacturing Index (Jun) @ 8:30AM ET 🇺🇸 Initial Jobless Claims @ 8:30AM ET 🇺🇸 Philly Fed Employment (Jun) @ 8:30AM ET 🇺🇸 Continuing Jobless Claims @ 8:30AM ET 🇺🇸 US Leading Index (May) @ 10:00AM ET 🇺🇸 U.S. Baker Hughes Oil Rig Count @ 1:00PM ET 🇺🇸 U.S. Baker Hughes Total Rig Count @ 1:00PM ET 🇺🇸 TIC Net Long-Term Transactions (Apr) @ 4:00PM ET 🇺🇸 Fed’s Balance Sheet @ 4:30PM ET
📙Breakdown point: BELOW this price, the move will lose momentum significantly in the short-term, as shorts will gain confidence encouraging them to short more. Reducing probability of a squeeze without a catalyst. 📙Breakout point: ABOVE this price, the move will gain momentum significantly in the short-term, as shorts losses will increase pressuring them to cover. Increasing the probability of a squeeze occurring, especially if with a catalyst.
4. $TGTX Squeezability Score: 50% Juice Target: 113.9 Confidence: 🍊 🍊 🍊 Price: 51.50 (+1.9%) Breakdown point: 44.0 Breakout point: 56.8 Mentions (30D): 4 Event/Condition: Publication of supportive post-hoc data from the pivotal Phase 3 ULTIMATE trials reinforcing BRIUMVIs strong efficacy in treatment naive relapsing MS patients + highly positive Phase 1 results for the subcutaneous formulation of BRIUMVI demonstrating favorable pharmacokinetics safety and tolerability that could enable more convenient at-home administration + groundbreaking positive topline Phase 1 data in myasthenia gravis along with the swift initiation of a registration-directed Phase 2 trial expanding the addressable patient population significantly + Recent price target 🎯 of $70 from HC Wainwright + Recent price target 🎯 of $55 from B. Riley Securities + Recent price target 🎯 of $52 from Zacks Investment Research
5. $PRCH Squeezability Score: 39% Juice Target: 19.4 Confidence: 🍊 🍊 Price: 12.25 (+7.5%) Breakdown point: 10.5 Breakout point: 12.8 (continuation into gap) Mentions (30D): 1 Event/Condition: Subsidiary share purchase of 2.1 million shares for $15 million from the Reciprocal Exchange bolstering statutory surplus and capital flexibility while signaling strong internal confidence in the insurance platform's trajectory + strong shareholder approval of board auditor and compensation matters at the annual meeting reinforcing governance stability amid ongoing operational momentum + successful repurchase of additional $8.9 million in 2026 notes at a discount further optimizing the balance sheet and reducing future debt obligations + Recent price target 🎯 of $19 from Craig-Hallum + Recent price target 🎯 of $20 from Benchmark + Recent price target 🎯 of $18 from Oppenheimer
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