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3 AI Stocks to Watch


We have mostly red arrows around the world as traders focus on inflation and geopolitical stresses.

President Biden did a surprise visit to the Ukraine and Putin gave a delusional speech this morning.

SPX futures are -32. Last week, the index broke the 4103 upper area to have us reduce risk. I bought SPY puts and shorted SPY calls which helps me this morning.

We'll see if the active bears have any power. Friday's low is 4047.

Some think we see the 3949 area in the week ahead.

For that to happen, we need to see a move below 4047, then 4015.

But let's take things day-by-day.

Let's dig into some individual names, starting with 3 AI stocks:

AI is still all the rage. It's rebuilding. Maybe today it goes red to green for an opportunity. It needs to hold $22.65 now.

MSFT strength was sold above the $270 area. For today, see how it handles the $254-$255 area.

GOOGL got beat up fast post on the AI event. Last Tuesday it put in a bottom tail at $92.26. Some went long vs. that for a bounce. It hit $97+. See if the $92-$93 area holds today.

TSLA gave a way to exit swing longs last Thursday around the $214.66 pivot. On Friday it was very resilient and went green with some power as $201.84 was reclaimed. We'll see how it acts today. Maybe it goes red to green. We'll see if we get a 5-15-30 minute low to trade against.

AAPL got m3 out with a reversal around the $155 area. It might have broken the accelerated trend. See how it handles Friday's low of $150.85. Does it hold that? $149 is a spot below. Watch it for market sentiment.

Scott Redler's positions disclosure as of 2023-02-21 at 7.19.34 AM

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