Spider Small-Cap 600 ETF (NYSE: SLY) Up Four-Straight Seasions

The Spider Small-Cap 600 ETF (NYSE: SLY) extended its winning streak to four-straight sessions following the intraday push to $96.37. Prior and lower resistance from early March at $96-$96.50 was breached but held. A close above the latter would signal additional upside towards $97.50-$98.

Support is at $95-$94.50 followed by $93.50-$93.

RSI (relative strength indicator) is in an uptrend with lower resistance at 55-60 getting cleared and holding. A move above the latter would suggest additional strength towards 65-70 and levels from mid-March. Key support is at 50.

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Checking on Volatility

The iPath S&P Vix Short-Term Futures (NYSEArca: VIX) snapped a three-session losing streak despite testing an opening low of 17.35. Near-term and upper support at 17.25-16.75 was challenged for the second-straight session. A close below the latter would indicate additional weakness towards 16-15.50.

The bounce to 18.40 afterwards cleared but failed to hold lower resistance at 18-18.50. A move above the latter would suggest a retest towards 19.50-20.

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Nano-X Imaging (NNOX) Zooms 17%

Nano-X Imaging (NNOX) zoomed 17% after announcing its digital X-ray device has received 510(k) clearance from the Food and Drug Administration. The company’s CEO said they remain on track to commence system shipments in the fourth quarter of this year and the first quarter of 2022 with the goal of finalizing deployment of the initial 15,000 Nanox.ARC systems by the end of 2024.

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General Motors Co. (NYSE: GM) Hooks Up With

General Motors Co. (NYSE: GM) shares rallied nearly 10% after the company entered into a long-term strategic relationship with Microsoft Corp. (Nasdaq: MSFT) to accelerate the commercialization of self-driving vehicles. As part of the relationship, Microsoft will join General Motors, Honda Motor Co. (NYSE: HMC) and institutional investors in a combined new equity investment of more than $2 billion in GM’s Cruise vehicles, bringing the post-money valuation to $30 billion.

 

GameStop Corp. (NYSE: GME) Zooms 51% on Short Squeeze

Shares of GameStop Corp. (NYSE: GME) zoomed 51% following a trading halt as short-sellers continue to get hammered. The short interest in GameStop reached 138% of the shares available for trading last week, and continues to drive the stock up for its massive short squeeze.

 
The company recently stated its holiday sales were down 3.1% but shares still rose a stunning 100% last week and were primed for a short squeeze, in which short sellers faced with high borrowing costs and accumulating losses are forced to buy shares to cover their bearish bet.
 

Diebold Nixdorf Inc. (NYSE, DBD) Surges 17% on Upgrade

Shares of Diebold Nixdorf Inc. (NYSE, DBD) surged nearly 17% after an analyst upgrade to Overweight from Neutral with a price target of $16, up from $10. The analyst said Diebold is a “deep value stock” and upgraded the shares ahead of a product ramp in the second half of 2021. Additionally, they see continued strong demand for self-checkout solutions and improving quality of earnings.