24/7 Market News – Weekly Kickoff for July 5, 2022

(24/7 MARKET NEWS) I hope that everybody had a great Fourth of July weekend. Considering the Friday afternoon frenzy from many of our favorites, today couldn’t get here quick enough.

Clovis Oncology Inc. (NASDAQ:CLVS) has been one of our favorites for weeks and Friday’s closing action signals that it’s the next great short squeeze meme trade. It smashed through its 200-day simple moving average resistance, at $2.51, and ran to $2.90, before closing at $2.85, up $1.05 (+58.33%), on 76,203,461 shares.

[mstock id=”73007″ asset=”clvs”]

In this morning’s premarket, Clovis is slightly down, at $2.81, 4 cents lower (-1.40%), on 697,061 shares. If it can cross the $3.10 resistance level, on strong volume, it looks like it wants to challenge to low $4 range.

Revlon (NASDAQ:REV) set the perfect bear trap, but this week belonged to the bears. Yet, as the 20 day moving average is about to cross above the 50, it may become a legendary play. It’s at $5.3437, down $0.0763 (-1.41%), on nearly 23 million shares.

[mstock id=”73007″ asset=”rev”]

This morning, Revlon is at $5.45, up $0.29 (+5.62%), on 777,048 shares.

Redbox Entertainment (NASDAQ:RDBX) has been in the red for most of the past two weeks, but its moving averages are finally just about to align, so this may end up being a bullish pull back. Redbox is at $6.06, down $1.34 (-3.86%), on over 5 million shares traded.

[mstock id=”73007″ asset=”rdbx”]

Redbox is trading at $5.96, down $0.15 (-2.45%), on 87,139 shares.

24/7 MARKET NEWS, INC Disclaimer
24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.