Stocktwits Chart Art: November 11, 2024

Presented by

STOCKTWITS CHART ART: NOVEMBER 11, 2024
The Stocktwits Summary 📝

Before we hop into today’s regularly scheduled programming, I want to introduce your new ‘Chart Art’ author, Kyle Vallans. He recently joined the Stocktwits team as a community manager and is a former prop trader, so he’s got the perfect skillset to deliver the best ideas from Stocktwits each day…as well as take this newsletter brand to the next level. You can find Kyle’s email in the footer of each newsletter, so be sure to reach out with your feedback and what more you’d like to see. Now, without further adieu, I’ll pass it off to Kyle to kick off today’s newsletter. – Tom Bruni

*Thanks Tom for the warm welcome and the handoff!

Anyway, under the hood, it’s been a melt-up today in mostly crypto and crypto-related names following an incredibly strong overnight session. Often, strong overnight gaps get sold, but not today. It’s been great to see the momentum carry into today’s close, even with the indices finishing essentially flat.

For some added color, Tesla is back with its $1 trillion cap, markets hit new highs, and Bitcoin breached $87,000. Despite all this strength, we’re seeing real weakness in solar, parts of healthcare like Moderna, and cannabis proxies, which can’t seem to catch a bid.

Here’s how the major indexes ended the day:

*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
Marijuana Stocks Slide To Fresh Lows 📉 

MSOS, also known as the Pure US Cannabis ETF, has continued its slide, hitting new lows after Florida’s recent cannabis legalization effort fell short on November 5th.

Florida’s approval could have opened up a substantial market for the cannabis sector, but the amendment garnered just a 55% vs. 60% vote needed to pass. For those on the losing end of this trend, it’s been a story of doom and gloom. 😭 

Stocktwits user @bclund highlighted today’s fresh all-time lows in $MSOS.

Enphase Falls As Solar Stocks Lose Their Spark 🎇 

Moderna Shares Speed Up To The Downside 🔪 

SPONSORED
Step Up Your Stock Research with MarketSurge! 🕵️ 

Not getting enough from free charts and websites? MarketSurge is the only platform that puts pro-level tools and research in the hands of individual traders like you. Power your portfolio today with a 6-week trial for just $49.95.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

Reddit’s Ascending Triangle Reversal Has Just Begun 📐 

Texas Instruments Rejected At Key Resistance ⚙️

Alphabet Eyes A Potential Base-Breakout 😉 

Procept BioRobotics Breaks Its Recent Highs 🙌

Even ARKK Is Beginning To Show Strength! 🙋 

Small-Cap Leveraged ETF Sees Steady Buying 🔥 

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Email me (Kyle Vallans) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach thousands of chart enthusiasts? Reach us here. 👍

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter does not hold positions in any of the securities or assets mentioned. 📋