Good morning, SqueezeFinders!
Yesterday’s price action on the $QQQ tech index was indicative of ongoing bullish euphoria despite all the ongoing issues in the world ranging from the emergence of the pneumococcal plague, ongoing developments in the Middle-East, the war in Russia/Ukraine, and also ongoing panic in the bond market. The $QQQ tech index made yet another new all-time high yesterday of 756.92 and closed at 756.20 (+0.88%). The main support level to watch is \~736, and otherwise we remain in an extremely bullish position for the market. The main directional sentiment determinants today are the aforementioned factors. This market is very dynamic and has been unpredictable as far as risk-tolerance goes, as one day we're running, and the next we're crashing. Stay tuned for what's squeezy. Regardless of broader market sentiment, you can always locate relative strength by checking SqueezeRadar to track irregularities in our data, and find winners you may not have spotted before without our scanners. Also, make sure to check out our newest tool (developed by me), "Dracula's Library"! This tool allows you to quickly gather information on recent catalysts, and analyst/Institutional price targets all in one small graphical interface on our platform, all powered by AI.
🥇 Gold: \~$4,160/oz (+0.1%)
🥈 Silver: \~$61/oz (-0.3%)
🪙 Bitcoin: \~$85.7k/coin (-1.1%)
🛢️ Oil: \~$89.50/barrel (0.0%)
Today's economic data releases are:
🇺🇸 ADP Employment Change Weekly @ 8:15AM ET
🇺🇸 Trade Balance (Aug) @ 8:30AM ET
🇺🇸 Exports (Aug) @ 8:30AM ET
🇺🇸 Imports (Aug) @ 8:30AM ET
🇺🇸 FOMC Member Bowman Speaks @ 10:45AM ET
🇺🇸 Atlanta Fed GDPNow (Q3) @ 11:30AM ET
🇺🇸 EIA Short-Term Energy Outlook @ 12:00PM ET
🇺🇸 3-Year Note Auction @ 1:00PM ET
🇺🇸 API Weekly Crude Oil Stock @ 4:30PM ET
🇺🇸 FOMC Member Williams Speaks @ 9:05PM 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. $OSPN
Squeezability Score: 42%
Juice Target: 28.3
Confidence: 🍊 🍊 🍊
Price: 18.42 (+1.66%)
Breakdown point: 15.8
Breakout point: 19.3
Mentions (30D): 4
Event/Condition: OneSpan is acquiring Build38 to deepen mobile application security as part of a broader cyber-security consolidation wave, with the deal cited alongside other sector M&A as a growth lever for authentication and app protection + Bank of America opened a new position while institutions already hold the large majority of the float and the shares trade near a 52-week high after Q2 subscription growth and a raised full-year outlook of $248–$252 million in revenue and $67–$71 million in adjusted EBITDA + DigipassONE and the FIDO2 and digital-agreements mix remain the core proof points analysts are using to underwrite margin and ARR upside + Recent price target 🎯 of $18 from Needham + Recent price target 🎯 of $18 from consensus analysts + Recent price target 🎯 of $17 from Rosenblatt
5. $ERO
Squeezability Score: 37%
Juice Target: 50.5
Confidence: 🍊 🍊 🍊
Price: 38.44 (+1.4%)
Breakdown point: 35.0
Breakout point: 40.9
Mentions (30D): 4
Event/Condition: CIBC raised its target to C$56 from C$52 and kept a Neutral rating after touring the three operating assets, while Wall Street Zen upgraded the shares to Buy as the stock held near a 52-week high + the company set November 2 for third-quarter operating and financial results after a prior quarter that beat on both earnings and revenue, with copper production and the Tucumã ramp still the main operating drivers + Bank of America remains at Buy after its earlier upgrade, and the Street’s average target sits modestly above the recent close on Brazil copper and gold exposure + Recent price target 🎯 of $44 from consensus high + Recent price target 🎯 of $40.73 from consensus analysts + Recent price target 🎯 of $34 from Bank of America
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