Tech investors are aggressively buying the dip

Image source: Image by Tung Lam from Pixabay

Tech investors are aggressively buying the dip. 📊 Two market shocks less than three weeks into Trump's second presidential term have revived a playbook familiar to tech investors: "Buy the dip" is alive and kicking. Yahoo Finance reports.

🔍 GoogleDipped: Alphabet shares drop as much as 9% on revenue miss, soaring AI investments. CNBC reports.

📉 iRisk: Apple shares fall 3% in premarket after China reportedly considers probe into App Store practices. CNBC reports.

💉 DoseUp: Novo Nordisk stock rises as Q4 Wegovy sales more than double. Yahoo Finance reports.

📺 StreamSlip: Disney tops quarterly profit estimates, but starts to lose Disney+ streaming subscribers. CNBC reports.

🚦 ProfitBrake: Toyota Motor posts nearly 28% drop in third-quarter operating profit, missing estimates. CNBC reports.

💳 PayDrop: PayPal shares fell Tuesday morning after the company's adjusted earnings fell short for the fourth quarter. Yahoo Finance reports.

📉 AMDrop: Advanced Micro Devices tumbled in late trading after giving a disappointing outlook for its data center business, an area where it’s struggling to catch up with AI computing leader Nvidia. Yahoo Finance 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. $OGEN: Oragenics
Total gain: +82.92%

2. $AKA: a.k.a. Brands Holding
Total gain: +48.51%

3. $SFHG: Samfine Creation Holdings
Total gain: +46%

4. $SXTP: 60 Degrees
Total gain: +43.92%

5. $ASST: Asset Entities
Total gain: +39.32%

* 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”.

How Does The Fibonacci Sequence Apply To Trading?

The Fibonacci sequence might seem like just a set of numbers at first, but its importance in trading lies in its ability to help identify potential levels of support and resistance. These are key levels where a stock or asset might pause or reverse during its price movement. Traders use Fibonacci retracement levels to gauge how much a price has pulled back from a previous trend, and they look for price action to either bounce or continue at these levels.

Let’s break it down: after a price makes a strong upward or downward move, it rarely moves in a straight line. It usually retraces a portion of that move before continuing in its original direction, or reversing. Traders use Fibonacci retracement levels, such as 23.6%, 38.2%, 50%, and 61.8% to estimate how far that retracement will go. For example, if a stock moves up $100 and then retraces to $61.80, that 61.8% level would be a significant area where many traders would look for either a continuation of the upward trend, or a deeper reversal.

This tool becomes incredibly useful in highly volatile markets, where sharp price movements can be followed by quick pullbacks. The key is using these levels to make educated decisions about where prices might head next, giving traders an edge when managing entries and exits.

The closing price of the top three market percent gainers trading near or above $3 on February 4.

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

1. $QNTM: Quantum BioPharma
Total gain: +102.2%
The company announced that it has completed a double-blind, randomized, placebo-controlled crossover clinical trial (NCT06505239) of its dietary supplement, unbuzzd™, examining its effects on alcohol intoxication and metabolism. Benzinga reports.

2. $CPIX: Cumberland Pharmaceuticals
Total gain: +69.01%
The company announced positive top-line results from its Phase 2 FIGHT DMD trial. The study evaluated ifetroban, a novel oral therapy for Duchenne muscular dystrophy (DMD) heart disease – the leading cause of death in DMD patients. Benzinga reports.

3. $PTIR: GraniteShares 2x Long PLTR Daily ETF
Total gain: +45.96%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

7:30 am - Richmond Fed President Tom Barkin TV appearance
8:15 am - ADP employment - January
08:30 am - U.S. trade deficit - December
9:00 am - Richmond Fed President Tom Barkin speaks
9:45 am - S&P final U.S. services PMI - January

“The best traders don’t think in terms of making money. They think in terms of protecting what they have.”

― Alexander Elder

Sourced in:
“The New Trading for a Living: Psychology, Discipline, Trading Tools and
Systems, Risk Control, Trade Management”, by Alexander Elder, published in
2014.