DISCLAIMER: This watchlist is for informational purposes only and does not constitute financial advice. Always conduct your own research and consider your financial situation before making any investment decisions.
Looking for the hottest stocks to trade today? Here’s my technical analysis of 5 promising stocks to watch on Wednesday, with detailed chart analysis and trading setups for each.
$WGS – GeneDx Holdings Corp.
GeneDx is showing incredible momentum, currently trading at $92.20 after experiencing remarkable growth of approximately 1,000% over the past year. The stock is at a critical technical juncture, with immediate resistance at $93.78 (Fibonacci R1) and stronger resistance at $94.89 (Fibonacci R2).
The primary support level sits at $90.18 (Fibonacci S1), with more significant support zones at $85.01 and $78.00 based on accumulated volume. Despite some bearish signals from moving averages, the stock remains in a strong uptrend. Volume has been declining with price, which reduces overall risk. For traders looking for entry points, the current support zone offers a favorable risk-reward setup, while a break above $93.78 could trigger a move toward the next resistance at $96.69. With the company’s innovative genetic testing services and projected 17% revenue growth for fiscal 2025, this healthcare innovator remains one of the hottest stocks to watch today.
$GEO – GEO Group Inc.
GEO Group is currently trading at $29.31, showing strong bullish momentum with a 57% green day rate over the past month. The stock has established clear support at the 50-day SMA of $28.37, which has been tested multiple times in recent weeks and held firm.
The immediate resistance level is at $30.50, which previously acted as resistance in late March. According to current forecasts, the stock may experience a slight pullback to around $27.38 by April 29, representing a 6.60% decrease from current levels. The RSI of 66.90 is approaching overbought territory, suggesting caution for short-term traders. Despite this, GEO has doubled since Election Day on expectations of increased privatization of security operations, with anticipated revenue growth of 20% in fiscal 2026. For traders looking for entry points, the current support zone around the 50-day SMA offers a favorable risk-reward setup with a stop loss below $27.50.
$ROOT – Root Inc.
Root Inc. has been showing significant volatility, recently closing at $133.44 after falling 2.55% on Monday. The stock has now declined for 5 consecutive days from its recent 52-week high of $151.73. The critical support level to watch is at $135.89, which coincides with accumulated volume support and could provide a potential buying opportunity if tested.
Key resistance levels to watch are $142.75 (the recent swing level) and $151.73 (the recent high). The stock shows extremely high volatility with daily average movements of 10.87%, making it a high-risk, high-reward opportunity. With upcoming earnings on April 29, 2025, traders should be prepared for increased volatility. The stock’s innovative car insurance model using real-time driving data has driven its 160% return over the past year. For traders considering a position, the recommended stop-loss is at $128.82 (-5.92%), while a break above $142.75 would signal a potential reversal of the current downtrend.
$AVGO – Broadcom Inc.
Broadcom is currently trading at $171.77, at a critical technical juncture. The stock has been in a steady logarithmic uptrend since October 2022, with an impressive 506% gain over that period. However, it’s currently showing bearish signals with only 37% green days in the past month.
The chart reveals two critical support zones: immediate support at $180 (the trendline support) and stronger support at $182.50 (the 200-day moving average). Resistance is clearly defined at $200 (psychological level). The stock is currently stuck between the trendline and the $200 resistance level, forming what appears to be a consolidation pattern before the next significant move. With the company’s EPS consistently increasing and expected to accelerate further this year, the bullish case remains strong despite high valuations. The current analyst consensus for the 12-month price target is $251, which coincides with the stock’s all-time high. Traders should watch for a potential breakout above $200 or a breakdown below $180 as signals for the next directional move.
$PLTR – Palantir Technologies Inc.
Palantir Technologies is currently the best-performing stock in the S&P 500 with a remarkable 203.59% one-year return. The stock was trading at $90.09 as of March 27, showing mixed technical signals. Despite a sell signal from a pivot top point on February 18, 2025, which has resulted in a 27.71% decline, there are also some bullish indicators including a buy signal from the 3-month MACD.
Strong support exists at $87.84 based on accumulated volume, with additional support at $89.62 (Fibonacci S1). Resistance levels are clearly defined at $92.66 (Fibonacci R1), $93.60 (Fibonacci R2), and $95.04 (moving average resistance). The stock has shown average daily volatility of 5.64% over the past week, indicating medium risk. Volume rose on falling prices recently, which may be an early warning sign. For traders looking to enter positions, the current support at $87.84 offers a potential buying opportunity, while a break above $92.66 could signal a reversal of the recent downtrend and potential for a move toward higher resistance levels.
