Sticking With This Evolv Technologies Price Target as Swing Crowd Wakes Up
As traders buckle down for the BLS release on June job creation, one $10K Portfolio stock is making a real-time attempt at breaking out, and it’s not Alto Ingredients ($ALTO), which we discussed on Wednesday.
On Wednesday, ($EVLV) made an attempt at cracking the upper trend line of the falling-wedge pattern of bullish reversal. That trend line just happens to run close to concurrently with the stock’s all-important 200-day SMA.
On Wednesday, EVLV recaptured both its 21-day EMA and 50-day SMA, waking up the swing crowd along with a few pros. Readers will also notice that the stock’s RSI has moved into a bullish posture as has the daily MACD. The portfolio has no problem reiterating its $8.50 target price for this name.
In other news, on Wednesday, Evolv Technologies announced that the firm had agreed to a multi-year renewal of its hardware and software subscription agreement with Boston’s TD Garden. This is the 19,000-seat multipurpose arena that is home to the NHL’s Boston Bruins and NBA’s Boston Celtics. The arena also hosts a full calendar of other sporting events, concerts and shows.
Other Portfolio News
Rocket Lab ($RKLB)
On Tuesday, analyst Noah Poponak of Goldman Sachs reiterated his “hold” rating on RKLB along with his $76 target price. Poponak is rated at four stars out of five by TipRanks. Over the past two years, he has had a 55% success rate and generated an average return of 14.5%.
Wednesday’s Intention vs Wednesday’s Actual Trade
Intention: Purchase 5 shares of ($VELO) at or close to the last sale of $17.61
Actual trade: Bought 5 shares of VELO at $17.25
Thursday’s Intentions
No trades intended
Current Positions
Long 150 shares of ALTO at $5.51. Target Ppice: $8. Last sale: $5.99.
Long 70 shares of EVLV at $5.8746. Target price: $8.50. Last sale: $6.74.
Long 200 shares of ($OCUL) at $8.271. Target price: $11. Last sale: $9.54.
Short one OCUL $11 September 18 call at $1.65. Last sale: $1.30.
Short one OCUL $9 July 17 call at $0.90. Last sale: $0.73.
Long 225 shares of ONDS at $9.1284. Target price: $14. Last sale: $8.00.
Long 30 shares of ($PL) at $30.6067. Target price: $46. Last sale: $31.74.
Long 5 shares of RKLB at $89.162. Target price: $131. Last sale: $101.00.
Long 35 shares of ($RXT) at $6.4529. Target price: $9. Last sale: $6.48.
Long 175 shares of ($SIDU) at $3.0342. Target price: $6. Last sale: $2.74.
Long 135 shares of ($SOFI) at $15.8617. Target price: $24. Last sale: $18.74.
Short one SOFI August 21 $20 call at $1.02. Last sale: $1.06.
Long 30 shares of ($SWBI) at $15.74. Target price: $19. Last sale: $15.01.
Long 50 shares of VELO at $13.6592. No target price right now. Last sale: $16.71.
Cash: $696.48.
Portfolio Value: $11,363.59, +13.6% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, EVLV, OCUL, ONDS, PL, RKLB, RXT, SIDU, SOFI, SWBI and VELO.
