Market Soars On Anticipated Trump Win: Tesla, Trump Media Lead Gains

Image source: Photo by Aditya Chinchure on Unsplash

Market Soars on Anticipated Trump Win: Tesla, Trump Media Lead Gains. 💼 Stocks surged as Trump claimed early victory, with Tesla rising 11% and Trump Media 30% amid investor anticipation of a pro-business administration. The Russell 2000 small-cap index and major banks rallied, while renewable energy shares slumped on fears of regulatory rollbacks. Reuters reports.

✈️ SkyRise: Boeing’s stock turns lower, as short-term technical boost fades after the open. MarketWatch reports.

🌐 Aspire: Emerson offers to buy rest of AspenTech in $15 billion deal to sharpen automation focus. Reuters reports.

🔍 InsightSurge: Gartner raises annual forecasts on strength in conferences unit. Yahoo Finance reports.

📊 YumBalance: Yum Brands earnings miss estimates as KFC, Pizza Hut report same-store sales declines. CNBC reports.

🚪 SuperAudit: Super Micro faces potential delisting, S&P 500 removal amid auditor woes. Yahoo Finance reports.

🤖 DriveLess: Musk now says it's 'pointless' to build a $25,000 Tesla for human drivers. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $DATS: DatChat
Total gain: 116.75%

2. $ARBB: ARB IOT Group
Total gain: 70.78%

3. $FOXO: FOXO Technologies
Total gain: 56.86%

4. $DJT: Trump Media & Technology
Total gain: 32.7%

5. $DPST: Direxion Daily Regional Banks Bull 3X Shares
Total gain: 31.43%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum".

Using Multiple Time Frames
One of my go-to methods is to look at multiple time frames. For example, while the daily chart might indicate a strong upward trend, the hourly chart could reveal short-term pullbacks that present buying opportunities. If I’m looking for a long trade, I might start with the daily chart to identify an overall trend, then drill down to the 30-minute or 15-minute chart for a precise entry point.

Practical Example: Filtering and Charting
In a recent session, I used a small-cap filter and identified stocks like American Coastal Insurance Corporation (ACIC), Magic Software Enterprises (MGIC), and Steelcase Incorporated (SCS). Starting with the daily chart, I look for patterns and trends that could indicate potential trades. For example, ACIC was approaching a death cross, a bearish signal, so I would lean towards short trades. In contrast, MGIC was above its 200-day moving average, making it a candidate for a long trade.

The closing price of the top three market percent gainers trading near or above $3 on November 5.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $ZCAR: Zoomcar Holdings
Total gain: +227.54%
The company has announced a major expansion of its customer support efforts, doubling the size of its support team to provide faster, more efficient assistance to both Hosts and Guests on its platform. This growth represents a significant step toward addressing customer feedback and enhancing overall service quality. Benzinga reports.

2. $ALBT: Avalon Globocare
Total gain: +60.71%
The company has appointed Dr. Charles Cavo to its Advisory Board to support the marketing of KetoAir™, a handheld breathalyzer for monitoring ketosis. A co-founder of Pounds Transformation and an expert in obesity and metabolic health, Dr. Cavo will aid in forming strategic partnerships and guiding KetoAir™'s business strategy. Benzinga reports.

3. $ORKT: Orangekloud Technology
Total gain: +46.70%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

None scheduled

“There is no single true path in the markets; each trader must find his own way.”

― Jack D. SchwagerSourced in:
"Market Wizards: Interviews with Top Traders", by Jack D. Schwager, published
in 1989