Momentum Wrap – Tesla, Salesforce and LinkedIn Close At All-Time Highs

on January 28 | in Daily Update | by

new highs Jan 28

New Highs

41 new all-time highs among stocks that gained 1% or more today: CVI LAD PBH SRC TRS SNTA CRM LNKD CRPT TAL

121 new 52-week highs among stocks that appreciated 1% or more. Some of the notable movers include:

  • Highly-shorted names continue to squeeze higher. One of the unwritten market laws says that all shorts must be squeezed, before the tide turns down. $TSLA, $LNKD, $CRM are among those with elevated short interest
  • Recent IPO issues are still hot: $CHUY (restaurant), $PBF (refining), $LOCK (internet svs)

StockTwits 50 Notables

  • Notable selling pressure (profit taking) among a bunch of momentum leaders. Historically, it has been a good indicator of a potential market correction on the way. Eight St50 stocks dropped 2% or more: $DDD $SSYS $TASR $CVLT $PHM $LEN $V $FEIC
  • $XXIA managed to find buyers near its rising 20dma and it is setting up again
  • Other stocks that are setting up for potentially higher prices: $RNF $GPOR $FHCO

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