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Stocktwits Chart Art: October 28, 2024

The best charts and trade ideas from the day.

Author

Tom Bruni
October 28, 2024

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STOCKTWITS CHART ART: OCTOBER 28, 2024
The Stocktwits Summary 📝

It was a mixed day for the major indexes, with small-caps leading and its large-cap peers trending slightly lower intraday. Speculative names continued to lead today, with GameStop perking up, Trump Media & Technology continuing its cruise higher, and stocks like Serve Robotics setting up again. Traders are capitalizing on that as investors turn to the “Magnificent 7” earnings over the coming days. 😬 

Here’s how the major indexes ended the day:

Index

ST Sentiment Score

ST Message Volume

$SPY (+0.31%)

Extremely Bearish (23)

Normal (51)

$QQQ (+0.02%)

Bullish (58)

Normal (49)

$IWM (+1.63%)

Bullish (55)

Normal (46)

$DIA (+0.70%)

Bullish (68)

Normal (52)

*The ST Sentiment Score & Message Volume scales range from 0 to 100 (extremely bearish to extremely bullish). More info here.

And here were Stocktwits’ top Trending symbols:

CHART OF THE DAY
SoundHound Bulls Sound The Alarm On Its Breakout 🚨 

Voice AI company SoundHound was one of several speculative small-caps trending in today’s trading session, with the Russell 2000 leading the major indexes.

Stocktwits user @evanmedeiros was one of several traders who pointed out the stock’s breakout from a multi-month base on heavy volume. This momentum thrust will put the stock back on radars’ until it reports on November 12th after the bell. 📈 

@evanmedeiros | Pro | Technicals/Systematic | Equities

SoundHound showing up on our breakout/momentum screens today. Smaller AI company tracking heavy volume and trying to clear out of a muti-month sideways range seen below on @InvestorsBusinessDaily MarketSurge charts.

Illumina Sports A ‘Saucer Bottom’ 📈 

@AskLou | Pro | Momentum | Equities/Futures/Options

$ILMN years ago I could never justify the valuation but the Street loved it. Now that topline growth decelerated it's come into reasonable valuation. I love the big saucer bottom. I started at $130, added at $135 and one more time here at $144. I can't resist a tight downward driftin handle which took it back to the @MarketSurge buy zone.

Lovesac Looks To Bounce Back 🤔 

@TheProphetOfProfit | Pro | Technicals | Equities/Options/Bonds

$LOVE would undergo a multi-year breakout on the weekly if it can manage to break $31 resistance. Clearly an elongated inverted head and shoulders here.

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