Our Quantum Computing Name Faces a Crucial Spot in the Chart
Plus, heads up: we're raising some cash.
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Portfolio quantum computing name Infleqtion (INFQ) is ironically at a point of inflection on its daily chart. Check this out:
Readers will see that INFQ has broken out from both a falling-wedge pattern of bullish reversal and a double-bottom pattern of bullish reversal. Now, however, the stock has come in and is testing its own newly established 200-day SMA from above.
This is a crucial spot on the chart. Lose the 200-day line and the portfolio managers who are invested will likely have to reduce exposure. This would also likely force a bearish cross-under within the daily MACD of the 26-day EMA by the 12-day EMA. There would be a negative algorithmic reaction should that take place. The portfolio is not planning to add on any dip that does not pierce the $12 level.
News Friday
$10K Portfolio stocks in the news so far on Friday:
Mobileye (MBLY)
On Friday morning:
Analyst George Gianarikas of Canaccord Genuity reiterated his "buy" rating on (MBLY) , while taking his target price down to $17 from $24. Gianarikas is rated at four stars out of five at TipRanks. Over the past two years, his picks have had a 43% success rate producing an average return of 5.8%.
Analyst Joseph Spak of UBS reiterated his firm's "neutral" rating on MBLY when assigned the stock, while taking his firm's target price up to $10 from $9. Spak is rated at zero stars out of five at TipRanks. Over the past two years, his picks have had a 44% success rate producing an average return of -21.6%.
Analyst Mark Delaney of Goldman Sachs reiterated his firm's "neutral" rating on MBLY when assigned the stock, while taking his firm's target price up to $9 from $8. Delaney is rated at five stars out of five at TipRanks. Over the past two years, his picks have had a 66% success rate producing an average return of 22.8%.
Ondas Inc (ONDS)
On Friday, (ONDS) completed its merger with Mistral. The merger will provide the firm with direct prime contractor access to U.S. Army and Special Operations Command contract vehicles, while also adding U.S.-based manufacturing, integration, and federal contracting infrastructure.
Mistral brings established relationships across U.S. defense and homeland security agencies and will support existing programs. This deal is expected to accelerate Ondas' ability to deploy integrated autonomous systems, including aerial platforms, anti-drone technologies and ground robotics, directly into U.S. defense programs.
As of March 31, Ondas estimated that its backlogged orders in hand were at $177 million. Mistral had $264 million in contracted backlog as of April 21. On top of that, World View Enterprises, acquired by Ondas on April 1, had a contracted backlog of $16 million. Adjusted for these additions, Ondas' pro forma backlog as of March 31, would amount to $457 million.
Palantir Technologies (PLTR)
On Friday, Rosenblatt analyst John McPeake reiterated his "buy" rating on (PLTR) as well as his $200 target price. McPeake is rated at three stars out of five by TipRanks, has a 58% success rate over two years, but with an average return of 24.6%.
Rocket Lab (RKLB)
Late Thursday, Rocket Lab (RKLB) announced its new next-generation high-performance Star Tracker. This offering is designed to improve key performance metrics for longer duration spacecraft missions in low Earth orbit.
SoFi Technologies (SOFI)
On Friday morning, Analyst Matthew Coad of Truist Financial reiterated his "hold" rating on (SOFI) , while taking his target price down to $20 from $21. Coad is rated at zero stars out of five at TipRanks. Over the past two years, his picks have had a 29% success rate producing an average return of -10.4%.
Thursday's Intention vs Thursday's Actual Trade
Intention: Purchase 25 shares of MBLY at or close to the last sale of $8.68.
Actual Trade: Purchased 25 shares of MBLY at $8.92.
Friday's Intentions
The portfolio is going to add back the portion of Sidus Space (SIDU) that we wish we had not sold several weeks ago now that the stock is trading back at that level ($3.37). The portfolio will also sell a few covered calls in order to raise some cash.
- Purchase 25 shares of SIDU at or close to the last sale of $3.38
- Sell (write) one SNAP $6 June 19 call for about $0.55
- Sell (write) one OCUL $11 June 19 call for about $0.75
- Sell (write) one ONDS $14 June 19 call for about $0.70
Current Positions
Long 50 shares of (EVLV) at $6.0898. Last sale: $6.60.
Long 40 shares of INFQ at $12.128. Last sale $13.54.
Long 25 shares of MBLY at $8.92. Last sale: $9.43.
Long 150 shares of (OCUL) at $8.305. Last sale: $9.41.
Long 125 shares of ONDS at $9.4749. Last sale: $10.51.
Long 10 shares of (PL) at $37.18. Last sale: $35.98.
Long 10 shares of PLTR at $141.29. Last sale: $141.65.
Long 10 shares of RKLB at $65.178. Last sale: $81.18.
Long 100 shares of (SIDU) at $2.5492. Last sale: $3.38.
Long 100 shares of (SNAP) at $5.9034. Last sale: $5.63
Long 150 shares of SOFI at $15.9875. Last sale: $18.34.
Long 40 shares of (VELO) at $10.93. Last sale: $17.49.
Cash: $571.37
Portfolio Value: $11,348.30, +13.5% from inception on March 24.
Related: Nikkei Sets Record as Tech, Consumer Plays Battle in Japan
At the time of publication, Guilfoyle was long EVLV, INFQ, MBLY, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
