Skip to content
3 Shortest Bull Stocks Traders Can Buy Now

Risk trading is back in vogue on Wall Street this week. But in a market comprised of stock prices often left to their own devices, some of today’s best-selling stocks are taking full advantage of this trend.

Just when investors may have thought it was time to return to the Roaring Twenties playbook of buying every dip, comes Thursday.

All of a sudden, 2022 is bad for business in Russia and Ukraine, inflation and miserly monetary policy have reached fever pitch, sending the broader averages to their worst single-day losses of the year.

For its part, broad-based and large-cap companies S&P500 lost 2.14%, while market heavyweights Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), You’re here (NASDAQ:TSLA) and others suffered larger losses over the session.

But in a market filled with risky assets of all kinds, some of today’s most shorted stocks have started making their own bullish ’20s-style noise.

  • Lucid Engines (NASDAQ:LCID)
  • Asana (NYSE:ASAN)
  • Soft (NYSE:CHWY)

Today, let’s take a look at three of these best-selling stocks and explain why each shows strong indications that there’s still a bull market somewhere worth buying.

Best Selling Stock Long: Lucid Motors (LCID)

3 Shortest Bull Stocks Traders Can Buy Now

Source: Charts from TradingView

The first of our longest-selling stocks is Lucid Motors.

The $45 billion large-cap luxury electric vehicle game maintains a short interest of 17.50%. But those bears could soon be killed on the road.

A market rally of around 9% this week confirmed a weekly reversal pattern from the 76% retracement level of the LCID while completing a Fibonacci-based two-step or mirroring pattern of movement. It’s bullish.

And with Stochastics signaling a bullish cross into oversold territory, there is plenty of strong technical support for the bulls to push this best-selling stock significantly higher.

There doesn’t appear to be any company-specific news, but investors might be optimistic about the end-February results. And maybe for good reason.

For one thing, Lucid’s Air Dream edition snagged MotorTrend’s prestigious car of the year 2022 crown.

And with earlier revenue and production forecasts on the rise for 2022, investors could expect a strong quarterly report.

Asana (ASAN)

3 Shortest Bull Stocks Traders Can Buy Now

Source: Charts from TradingView

The next of our top shorted stocks that are showing strong signs that the price is right for buyers are Asana shares.

The $12.8 billion software-as-a-service (SaaS) workflow management game has a short interest of around 27%.

Bears have been on the bright side of ASAN stock for the past few months. But it could be a baby with the bathwater situation.

As with many higher multiple growth stocks, Asana has come under fire from risky Wall Street trading. Shares corrected 70% in January from November’s peak valuation of $26 billion.

But during this period, the CEO of this shortest stock continued to aggressively buy stocks. The latest SEC filing shows nearly $80 million worth of ASAN stock was purchased in the past week.

Additionally, the long position accumulated since last summer in Asana shares now stands at over $1 billion.

There are many situations where an insider can sell stocks, but there is only one reason to buy and that is to make money.

Today and technically, it may finally be time to follow the money trail in ASAN.

For starters, the February monthly candle defiantly shook off corrective market pressure with a 28% gain.

Shares of this shortest stock are also still attractive in an inside candlestick pattern that found support above the 76% Fibonacci level.

Finally, with ASAN back to levels in line with the June insider buying campaign, there are a few more good reasons for optimism today.

Best Selling Stock Long: Chewy (CHWY)

3 Shortest Bull Stocks Traders Can Buy Now

Source: Charts from TradingView

The last of our most shorted stocks that’s ready to learn a new trick is pet retailer Chewy, Inc.

Shares of CHWY have a bear population of approximately 28% and a market capitalization of $22 billion.

The shorts have been Chewy stock’s top dog for the past year since peaking at $120 last February. But CHWY’s days in the niche seem almost over.

Off the price chart, bullish double-digit growth, expansion in pet insurance, and attractive spending on pets that is projected to rise from $100 billion to $275 billion by 2030 are expected. capture the attention of investors.

Today, the bulls also have a nearly 70% bear market that appears to be ending its cycle.

Actions of this shortest stock formed a bullish inside monthly candlestick from a two step pattern and a 76% retracement level similar to LCID, but much wider in range.

An oversold Stochastic has yet to ring the dinner bell for bulls, but with monthly Bollinger Band support also in play, CHWY stock looks like something investors can sink their teeth into.

As of the date of publication, Chris Tyler had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to publishing guidelines.

Chris Tyler is a former ground derivatives market maker on the US and Pacific exchanges. For additional market insights and related thoughts, follow Chris on Twitter @CAT_Options and StockTwits.


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.