Below is an analysis of the stock price action for Better Therapuetics (BTTX), Redbox (RDBX). You can find a recap table at the end of the page. The content on this page is not financial advice, but is for educational purposes only and merely cites our own personal opinions. You can find the full disclaimer here.
Better Therapuetics (BTTX)
BTTX gapped up at the end of today most likely to just a technical squeeze. It traded mostly near the 1.15 level but grinded up to the 1.4 and 1.5 levels, breaking both, leading to a big end of day squeeze. Without any specific news, this momentum will have to be carried by technical squeezes and buyer strength. The market has seen some low float squeezes lately so it might get the attention it needs. Keys levels to watch at 1.90 and 2.25 for a break down and break out respectively.
Redbox (RDBX)
RDBX is seeing a continuation play turn into a technical squeeze. It broke the key level of 4.75 last week, leading to a squeeze to the 5.75 level. It held this level in the extended hours which led to a premarket squeeze to the 7.4, which is a previous level on the daily. This show its strength and indicated a positive open. It was very volatile on the open but then ripped up to nearly 10 after breaking the 7.4 level. This was the major squeeze level of the day. The rest of the day was volatile trading reaching a high of 11 but followed by major retracement. The large retracement was a clear sign the stock had turned weak and there was not a big fundamental catalyst. Due to the volatility the key levels are very spread apart at 8 and 10 for a break down and break out respectively.
Recap
| BTTX | RDBX |
|---|---|
| Shares: 10-25milIndustry: HealthcareCatalyst: TechnicalATR: 0.25 - 0.50Time Frame: DailyShort Squeeze | Shares: 10-25milCatalyst: TechnicalATR: 0.50 - 1.00Time Frame: DailyShort Squeeze |