Hottest Stocks Right Now to Loaded UP ON

Welcome to Wall Street. This is the Stocks with Josh Show. I'm not in my usual studio. I'm broadcasting to you from Japan and I have an update I want to give you on some extremely hot stocks that I shared in my last video. When was my last video? I actually put it out Saturday and I said going into this week, you want to be watching memory stocks that they're absolutely going to crush it and they have. As a matter of fact, if you've lost any money this week, it's not my fault. I gave you the three stocks that were going to be going higher in the midst of a turbulent market and a volatile market. I explained that Micron MU, AMD, and INTC had been defying the downturn and they've continued to do so. I'm going to take you into the charts and give you some fresh technicals. Now, there is still some meat on this bone, but we have quickly run up to resistance and the market is struggling. It's been pulling back. The Spy and the QQQ are in that bottom half of that ascending channel what I've talked with you about and I've made mention that when you look at structure in the charts, that when the price action's in the top half of structure, it's being controlled by the bulls, but when it's in the bottom half of structure, that's where the bears are pushing the story. So, I'm going to show you the Spy. I'm going to recap on a couple of the memory stocks that are working and you want to trade the trend. If they're working, you want to kind of continue with them and right now they're pushing higher. But, I'm also going to give you another play, a big tech stock that is also reversing and defying the downturn. Thank you for taking a minute hitting that like and subscribe. Let's quickly watch this video and I'll get to the technicals here in a moment. >> Join a community of like-minded traders to learn our trading system. 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All right, guys, every single time we come up and get close to this 60% level on the daily time frame on the RSI, relative strength index, we see rejection. The last time we touched it, we got 3 days of a downturn, which was right here. And again, we touched it, this 60% level on the RSI, and we got 3 days down. So, right now the market is in the bottom half of this ascending channel, and it breaks below 760 tomorrow, I want to remind you that we know where it's going, and we know where it could potentially bounce. We would then be making a be line for 753. So, watch the data coming out this week, and if it supports a bearish market, you know we're going to come down and possibly find support on 753. Now, I believe that when we hit this general area, we'll be looking for this descending line to potentially act as a support level where we could continue to push higher. Now, it wouldn't shock me if we came back to the bottom of this channel and we lost it and created a great big potential bear trap where people would imagine that the market's falling apart. So, when or if we do get down to this 753 to 750 level, we need to make sure that we don't just take the first red candle and load up on the shorts because that would be a bear trap. This is where the market could easily reverse and push straight back up. We're in the bottom half of that structure, we've got data coming out this week. We've talked about it possibly going down and testing that area for a long time. I think it could be setting up for a potential bear trap. The market is still extremely strong on the daily time frame. We have not been able to get above 60 on the RSI, but on the weekly time frame, we are currently above 60 on the RSI. So, from a big picture perspective, the market is still bullish going into tomorrow. We're going to have to be cautiously bullish on our plays. Well, we've got some plays that are working the memory stocks. So, let me quickly cover those and then I'm going to get into my big pick of the day that for you guys to be watching because it's also working and it doesn't mean that it's going to continue to work, but I'm going to give you the important lines on the chart. So, let's talk about briefly Micron. As I said in my last video, memory has been heating back up and it's consistently climbing higher. We've had an inverted head and shoulders pattern on this chart for quite a while and now we are testing the neckline for a potential breakout. We pushed above it, came back below it, we pushed above it again. Now, we're looking for a second candle to confirm back above and that will take us quickly to 1,100. But, that also would confirm a much bigger move on Micron of this head and shoulders pattern. You ultimately would take this line, put it on the breakout and it's telling you that we have the potential technically to get a little bit higher than this previous all-time high. So, don't sleep on Micron, don't wait till it gets all the way back to its all-time high to decide to get in. You were given this early, you were given it this last Saturday and it's been running and I think there's potential for it to continue to run. Now, we are at that neckline, so you've got to have a stop-loss strategy. Now, I still have two more memory stocks to cover with you and a hot play to give you, so let's keep pushing ahead. Now, we've been in INTC since $88 and I did sell a little bit of this with this current push higher, but we also have an inverse head and shoulders pattern there. We are hitting that neckline I talked about if it confirmed above 108, we would then easily go on to 117. Now, this is resistance. This neckline is resistance. So, we need to follow the two candle rule to confirm that we are breaking out of this range. It's going to be one candle to cross this 108, which will likely hit 110, and I see that happening very, very soon. And the second candle has to continue that progress higher, not come back beneath the neckline. Let's quickly push on to AMD. AMD, the overall target there is a move up to 550. We want to see 516 hold, which means that if we get a red candle that crosses back below 516, you could treat 516 as your stop loss. It means that the trade for the time being is cooling off, but tomorrow if we can stay above 516, the most significant area of resistance ahead is up here at 550. I gave all of this to you guys last week. All right, our new pick of the day. Now, you said, "Joshua, I was sleeping on those memory stocks. I didn't get in. You got anything else for me?" I do. We got to talk about what's going on with Meta because you don't want to be tardy to this party. Take a look at Meta because I think something very important is happening with it. And before we talk about where Meta could go, look at where the stock just came from. Meta's all-time high was just under $800, $796 to be precise. Then, it got absolutely hammered, and the August low was $537. That was a 32% collapse from the top. And technically, the chart was broken or looking really broken. Meta wasn't just below the 9 EMA, nor was it just below the 20 or the 50. It was below the 200-day moving average, and I like to always quote Charlie Munger who says that you don't have to be a genius on Wall Street. You just want to pick high-quality blue-chip stocks and go long when they pull back to their 200-day moving average. Did you do that with Meta? Well, you still have some time. There's still some meat on this bone. When a Mag 7 company loses that 200-day moving average, we're not talking about a little pullback. The long-term trend has been damaged. The market's telling you that something is wrong. And there were reasons. One of the big reasons that Meta was down there was massive AI spending, and investors were questioning when that AI spending was actually going to pay off. And then they had this enormous lawsuit hanging over the company. And on August 26th, everything changed. Meta settled the lawsuit up to $18 billion when some were thinking that it could be open-ended and a minimum of 100 billion. So, finding that number out made a big difference. So, you would think an $18 billion settlement would crush the stock. It didn't. Meta closed that day around $576. And now it's above $653. That's roughly a 13% move in 2 weeks. And today alone, Meta exploded more than 6% while the S&P 500 and the Nasdaq were both red. Guys, I want you to pay attention to that. That's the news story of the day, and that's why Meta is my stock pick of the day. Wall Street does not wait for CNBC to explain the move. Big money moves quick, and it moves first. And now Meta has another catalyst. They just launched a product called Muse, their new personal AI agent. Now, this is not just another chatbot. send emails, book flights, make reservations, shop, make payments. It can actually do things for you. And I want you to think about Meta's distribution Facebook Instagram WhatsApp, billions of users. Put a paid AI product in front of that distribution machine, and the opportunity gets exciting again and it gets very big very quickly. And then earnings. Where Meta gets another chance to prove that this massive AI investment is actually producing a return. So, now it's time to look at the charts. We've gone from 537 to 653. That was a 22% recovery off of its August lows. Now I'm watching the $658 area as a significant and realistic target ahead of us. After that, we can even go as high as $700. And eventually sitting way up there is that old all-time high at around 800. The story behind Meta is back in full force. Have you been ignoring this play? That's the big picture. Now let's take a minute. I want to take you into the Meta chart and show you a couple important lines. Even as I'm making this video, the stock is exploding. The immediate target is the ominous 666, which we collapsed below before, but we are clearly likely to open up and hit that level tomorrow. And we have a neckline that's even higher up at around 687. If we continue to go lower in the overall market on some bad data, maybe even that bear trap setup that I was talking about earlier, and we and the market bounces as I've been predicting it could easily bounce in this general range, these are the plays, the memory stocks and Meta, they're the ones that when the market begins to heat back up and push higher, these are the ones that are going to soar. So, let me know what you think about these plays. I'd love to hear from you. Make sure you hit that like and subscribe and come check out the Stocks with Josh Pro Trading Community, my personal Discord. Check out my tools, my A+ scalp setups, and come and my Crown Traders. Love to see you over there. Go to the Stocks with Josh webpage www.stockswithjosh.com. You don't want to miss a single video in this market. Peace and blessings. Talk to you later.