The Daily Spotlight: Free Live Training and Daily Stock Watchlist for October 30, 2023

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In today's market analysis, we've identified these stocks based on our criteria. Please conduct your due diligence before making any trading decisions. Remember, the stock market is dynamic, and it's essential to stay updated on news and market trends throughout the trading day.

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Stock Pick 1: VIGL

VIGL - Vigil Neuroscience, Inc.

As you can see, VIGL has been on quite the run recently; however, after finding resistance at the 200 day moving average, VIGL is sitting in the Lux Algo sell zone. With the daily RSI riding high, just under 70 and the MACD beginning to show signs on rolling over, we believe that VIGL is due to cool off and pull back.

Stock Pick 2: IAG

IAG - Iamgold Corporation

A confluence of factors are working against IAG after it’s recent run up. Finding itself solidly inside a descending wedge while bumping up against the 200 day moving average is a sound recipe for a top right here. Add in that the stock is currently overbought and we expect IAG to retreat to lower price levels sooner rather than later.

Stock Pick 3: CMTL

CMTL - Comtech Telecommunications Corp

CMTL has completed it’s expected measured move since breaking the descending broadening wedge. It failed to hold above the 200 day moving average during Friday’s trading session and now sits solidly inside of the Lux Algo sell zone. With RSI hanging out around 70 and the MACD rolling over, CMTL should be expected to give back some of it’s recent gains.

Stock Pick 4: AMSC

AMSC - American Superconductor Corporation

This one ranks a little higher on the risk curve, but the technicals are in place for AMSC to make a slight run headed into Wednesday’s earnings report. Friday’s gap up held above the 9 day moving average and the MACD is signaling a bullish move to the upside, but with earnings coming after the closing bell on Wednesday this should only be viewed as a very quick in-and-out trade as we always recommend exiting any trade before earnings.

Stock Pick 5: WMS

WMS - Advanced Drainage Systems, Inc

We’ve been talking about this one a lot recently. Look for WMS to continue it’s reversal and make a bullish move this week headed into earnings Thursday morning. The 200 day moving average and the Lux Algo buy zone both held very well late last week and RSI is starting to bounce off 30.

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Protect Your Investments with Stop Losses:

One of the fundamental principles of successful trading is risk management, and a crucial tool in your toolkit is the use of stop losses. In the volatile world of the stock market, where prices can fluctuate rapidly, stop losses act as a safety net for your investments. By setting stop losses, you are taking control of your risk, ensuring that even in the event of unexpected downturns, you protect your capital. It's a proactive approach that can help you navigate the ups and downs of the market with confidence, providing peace of mind and enabling you to make more informed, rational decisions. Remember, the key to successful trading is not just about maximizing gains but also safeguarding against losses, and stop losses are a powerful strategy for achieving that balance.

We encourage you to share your thoughts, experiences, and feedback with us. Your insights and questions are always valued.

If you have any questions or need further information about these picks, please don't hesitate to reach out.

Happy trading, and we look forward to sharing more profitable opportunities with you in the days ahead!

Best regards,

Nic

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DISCLAIMER: Important Information Regarding Our Newsletter:

Not Financial Advice: The content provided in this newsletter is for informational purposes only and should not be considered as financial advice. The stocks mentioned here are based on our opinions and research. It is essential to conduct your research and consult with a qualified financial professional before making any investment decisions. 

Risks Involved: Investing in stocks involves substantial risk, and the value of your investments may fluctuate. You could potentially lose a significant portion or all of your invested capital. Please be aware of the risks associated with trading and investing in the stock market.

Not a Registered Investment Advisor: We are not registered investment advisors and are not authorized to provide financial advice. The information shared in this newsletter is intended for educational purposes and should not be interpreted as personalized investment guidance.

Potential Conflicts of Interest: We may or may not own positions in the stocks discussed in this newsletter. Our interests in these stocks could create a conflict of interest that may affect the objectivity of our analysis. We are not obligated to disclose our positions in the mentioned stocks.

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Readers' Responsibility: Readers of this newsletter are responsible for their investment decisions and should perform their due diligence, consider their risk tolerance, and seek professional advice when needed.

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Accuracy and Updates: We make reasonable efforts to ensure the accuracy of the information provided, but we do not warrant its completeness or reliability. The stock market is dynamic, and the information may become outdated. It is your responsibility to verify the accuracy of any data before making investment decisions.

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