There are two stocks on my watchlist today…
- One is a globally famous company that’s run by an even more famous entrepreneur.
- The other is a prominent business in the AI race that just announced earnings.
The 2 hottest stocks in the market.
Don’t worry about scanning thousands of stocks and whittling down your watchlist to a handful of tickers.
There are only two names you need to keep an eye on today.
Too many traders get distracted by less-than-ideal setups. For example, maybe there are only two A+ stocks in the market, but while they’re waiting for the chart to match their pattern, they get bored and hunt for other trades, B+, C+, and even D-grade setups.
Don’t let yourself look for other trades.
These are the setups we’re watching…
Stock #1: Space Exploration Technologies Corp. (NASDAQ: SPCX)
The company’s Starship reached orbit for the first time, despite engine trouble. It was also Starship’s first money-making mission, deploying 26 Starlink satellites for SpaceX’s primary revenue generator.
It wasn’t flawless. One of the Raptor vacuum engines shut down early, so SpaceX cut the mission short. Still, the company called it a success after hitting both primary objectives.
$150 is the main level to watch. SPCX debuted near $150 in June, spiked to about $225, then faded right back to the IPO open.
The chart broke down in July, bottomed near $105 in August, then ripped back to $150 and got rejected. Until early September, when it finally reclaimed $150.
Since then, it’s been coiling in a tight range on low volume.
That’s what I want to see: a tight consolidation at a key level with a fresh catalyst behind it.
I’m looking for a breakout of this consolidation. Be patient. Let the stock come to you.
Stock #2: Micron Technology Inc. (NASDAQ: MU)
Micron just posted record fiscal Q4 results, and the numbers are staggering.
Revenue hit $54.23 billion, up from $41.46 billion last quarter and nearly 5x the $11.32 billion from a year ago. Non-GAAP EPS came in at $33.42. Full-year revenue topped $133 billion, versus $37.38 billion the year before.
And management expects fiscal 2027 to be even stronger, citing long-term Strategic Customer Agreements that add durability to the AI memory boom.
The stock was already up 237% YTD. It ran from about $330 in April to an all-time high of $1,254 in late June, then pulled back hard to around $750 by early August.
Since then, it’s been climbing back with higher lows. It’s pushed up to about $1,100 this month and was holding near $1,065 at yesterday’s close.
The big level is $1,254. A break above that puts MU in blue-sky territory with no overhead resistance.
The price action today will tell us everything we need to know. Pay attention to key intraday levels and let the earnings do the work.
These are the two strongest setups in the market.
Keep an eye on the charts today and get ready for a calculated entry.
To watch me build specific trade plans LIVE, join me on Tuesday at 11 A.M. ET.
Be good (and be good to others),
Ben Sturgill
*Past performance does not indicate future results. Not typical.
