Top Stock Gainers And Losers: PCT +29.59%, ICLR -21.03%

Top Gainers

Symbol
Company Name
Price
Change
Change %

PCT
PureCycle Technologies, Inc. 
14.30
+3.26
+29.59%

QS
QuantumSpace Corporation 
6.50
1.32
+25.48%

TSLA
Tesla, Inc.
260.48
+46.83
+21.92%

VKTX
Viking Therapeutics, Inc.
73.22
+12.83
+21.25%

CLS
Celestica Inc. 
67.94
+10.47
+17.67%

Top Losers

Symbol
Company Name
Price
Change
Change %

ICLR
ICON Public Limited Company 
221.73
-59.03
-21.03%

WEX
WEX Inc. 
181.13
-31.91
-14.98%

NEM
Newmont Corporation 
49.25
-8.39
-14.70%

PI
Impinj, Inc.
192.21
-30.25
-13.60%

FCN 
FTI Consulting, Inc. 
89.73
-10.20
-10.21%

In the first few hours of the trading session, the market showed a bullish momentum but failed to sustain at a higher level and came down and made a sideways closing. 

NYSE Composite: +138.83 (+0.76%)
Dow Jones: -140.59 (-0.33%)
S&P 500: +12.44 (+0.21%)

#1 Gainer: PCT Stock

PureCycle Technologies Inc. (NASDAQ: PCT) stock turned out to be the top gainer after delivering +29.59% returns on Thursday (24-Oct-2024) trading session. Traders made strong positions after buying 16,675 call options, which is 116% more than the usual 7,735 call options.

Traders and investors are keeping high hopes for upcoming Q3 2024 results as the company announces its third quarter 2024 corporate update conference call, which has been scheduled for 7th November 2024. 

The conference includes live Q&A sessions for analysts followed by investor questions, which have been submitted in advance to investorsquestion@purecycle.com.

PCT/USD 15-Minute Chart

Before concluding on to Q3 2024 results, let’s look into the technical aspect of the stock. On the 24th Oct 2024 trading session, the PCT stock gave +29.59% returns and took rejection exactly from $14.65 on multiple time frames like 5min, 15min, 1hr, 1 day and 1 week, indicating the strength of the resistance. 

Looking at stock on a weekly timeframe, we can see that the price took a reversal from the resistance zone, and RSI indicates the same over-bought scenario. A buying opportunity will trigger once the $15.98 level breaks, and prices come to retest the level. We can plan an entry on healthy buying candles with targets of $23.35 and a stop-loss of $12.

#1 Loser: ICLR Stock

ICON Public Limited Company (NASDAQ: ICLR) stock faced a major decline of 21.03% as the company was unable to achieve Q3 2024 returns by 5.12%. Zack’s consensus Estimated $3.85 per share, but the company was able to reach $3.35 per share. Compared to quarter age, the present earning comes to -12.99%. 

Consistent growth in the company and its price just added about 0.2% compared to gains of the S&P 500, which is 22.7%

Though there is no major decline in earnings as of present, earning comes to $2.03 billion compared to $2.06 billion a year ago. However not able to achieve the expected returns, the company faced major selling on 24th Oct 2024. 

ICLR/USD 15-Minute Chart

Fundamentally, the stock is still not weak. Looking at technical aspects on a weekly time frame, the company has been on an uptrend for a long time. Price broke the support trendline on 9th September, and from then, the price was moving sideways, indicating weak buyers. 

On 24th Oct 2024, major selling was triggered, bringing the price to its support level of $221.73. Currently, looking at the price-only selling scenario will trigger two situations. 

If the price continues to fall and crosses the 221.73 level, then wait for the level to retest and then make an entry with the target of $185, as RSI is in the oversold situation, and the price can come for SL hunting. 
If the price reverses from the 221.73 level, as the RSI will cool off, then wait for the price to break the $221.73 level and if, during that time RSI is between 40-30, then plan an entry with the target of $185. 

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