Wednesday, April 16 – Stock Rundown
Apple rallied slightly but is now at key resistance: the 2-year anchor, 20-day MA, and just under the YTD anchor. It’s not compelling here and may roll over later this week or early next. MOD is worth watching for a potential short tomorrow if it weakens midday. SMCI continues to look weak, trading below key MAs—watch for a breakdown under ~$33.80. Amazon is the weakest mega-cap; repeated tests of support increase breakdown odds. DKNG could be a better short if it rallies early and then rolls over. FTAI and Reddit are also vulnerable—look for intraday strength followed by failure. ZK might set up in a few days. Overall, still no compelling longs; short setups remain more promising.
