Power Plays New Ideas: MIR, GEV, RDDT
By Scott Redler
I'm going to add 3 new Power Plays this morning.
Yes, this service is "officially" 1 new idea per week... but you know I like to overdeliver when I can.
The first two ideas are a play on the growing theme of AI driving demand for electricity, which is creating hot action in utilities, nuclear, names, uranium, and electric infrastructure.
So these really are "Power Plays."
Let's go:
#1 Mirion Technologies (MIR) - $11.10
This is a speculative SPAC in the nuclear space. The chart looks like it's ready to break out.
It needs to hold the $9.75 to $10.25 area.
If it can get above $11.50, there is potential to reach the $14 to $16 area.
#2 GE Vernova (GEV) - $254.40
This stock was a big leader to end Q3, and now it looks like it's building a bull flag before another rally.
It needs to hold the $225 to $240 area.
A move over $258 could open the door to the $300 to $315 area.
#3 Reddit (RDDT) - $67.78
This stock reminds me of Doordash (DASH) and I expect similar upside.
It needs to hold the $58 to $62 area.
It could see new record highs this year.
-Scott
Scott Redler Positions Disclosure as of 2024-10-03 at 8.31.26 AM