FANG stocks and AI candidates held up reasonably well to start the week, with AAPL, AMZN, FB, NFLX, and NVDA trading higher this morning.
Summary
Buyers stepped up to the plate Monday evening, propelling several candidates off the lows of the morning session. NVDA is +5.68 this morning, while AMZN is trading higher by +17.41.
Facebook, Apple, Netflix, NVidia Ready?
- NVDA a late mover, pushed off the lows of its
5 minute base. - AAPL was in the news heralding its streaming and news service.
- FB and NFLX finished at the high of the day.
MITK and Artificial Intelligence
Mitek (MITK) specializes in mobile capture and digital identity verification solutions utilizing advancements in AI (artificial intelligence) and machine learning. The company’s identity verification solutions help streamline the verification and digital transaction processes. Financial institutions, payments companies and other businesses operating in highly regulated markets now have a solution to mitigate financial risk, satisfying regulatory requirements while increasing revenue from digital channels.
The weekly time frame depicts a stock breaking out of a 2-year base. The daily chart is equally impressive. RSI is rising with MACD above its signal line. We are trading common and will add to our positions in the short-term.
Investors Business Daily ranks Mitek number five (5) relative to leader Alarm.com Holdings (ALRM). The stock is posting excellent grades.
With futures higher, we are shopping for candidates in addition to those presented herein for potential day trades.
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we trade AAPL, FB, NFLX, NVDA
Happy Trading,
Vinny
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