SRPT FlaggingHere is a CANSLIM stock. Waiting for breakout to the upside from this flag. Only if market allows in the next few days.
Canslim
Break out of base and congestion.Break out of base and congestion. Waiting for better market breadth. Good CANSLIM stock.
US Stock In Play: $ARRY$ARRY - Tech | Solar
interesting price chart, ADR is at 10%. price is up +220% from YTD low but the momentum for further BO seem to be gathering pace again. currently a bullish flag (mini bullish falling wedge).
BO confirms at $22 with EOD vol exceeding 200mil
US Stock In Play: $MOS$MOS - Basic Materials | Agri
1mth RS with orderly price action along its rising 10/20 MAs. price stalled over past 8 sessions into a narrow price zone of low/high VWAPs. rising 200MA shows no signs of flattening
BO needs to clear VWAP from ATH at $56.50.
US Stock In Play: $APA$APA - Energy | Oil & Gas
energy sector leads in RS over a 4wk period.
$APA outperformed among the S&P500 names from yesterday's market selloff with a double bottom price pattern from its correction in a 2-years uptrend. BO lvl coincides with confluence of VWAP & KMAs at $37.50
Breakout trade in ARGXArgenx is another biotech stock setting up in a textbook breakout pattern.
Shares traded up through resistance Monday morning on good volume, but the move was ultimately held back by a nasty overall market.
ARGX still held up well, and will likely continue its advance higher.
US Stock In Play: $A$A - Healthcare | Diagnostics & Research
Low ADR, but the multi year long uptrend along with its consistent YoY EPS and sales growth makes this an interesting growth name to be in the WL
latest ER have $A gapped above its 200MA and AVWAP from ATH. actionable trade at $150 imo
US Stock In Play: $MERC$MERC - Basic Materials | Paper Products
this have appeared in various scans on daily basis for over a month
now trading at pivot to BO lvl of a C&H pattern to rising KMAs including 200MA (which is pretty rare at this period of the market)
latest YoY ER +234% EPS, +42% sales
US Stock In Play: $PCTY$PCTY - Tech | Software - App
+19.59% move post ER to decent YoY earnings and sales growth (+74% and +37% respectively).
currently displaying a bullish pennant setup awaiting for more traction for another leg of upside breakout. trading above all KMAs and VWAP from ATH.
Long Breakout in MUSAMurphy USA (MUSA) is breaking out into new highs, triggering a low-risk entry point.
Relative strength has been surging all year as shares steadily outperformed the market. After a gap up earning move on July 28, the stock consolidated for three weeks with minimal pullbacks - a sign that buyers are not selling and the stock is moving to the strong hands.
Sales are up 62%, 67%, 45% and 52% in each of the last four quarters respectively. Earnings are up even more.
This is a market-leading stock and the leading stock in one of the top market groups.
Institutions are also buying it. The number of funds that own MUSA stock is up almost 20% in the last year (602 funds as of June).
MUSA is now making new highs as the market rallies off its lows. Consider buying here with a tight stop below $279 to risk just 4.4% on the trade.
US Stock In Play: $AN$AN - Auto & Truck Dealerships
after 6 mths, $AN still remains in my actionable watchlist at $126.45. the prolonged period of consolidation from its ATH in Oct'21 turned this into a very attractive position trade proposition.
price tightening into triangle range since April
US Stock In Play: $TOST$TOST - Tech | Software Infra (another tech as the sector is leading in 1&3 mths RS)
traded out of a 6mths bullish falling wedge to rising 10/20 MAs and RS. pre-Fri's ER posted strongest ever quarterly sales. Fri traded as much as +19% intraday
ATH VWAP is a key pivot level now
US Stock In Play: $PAYO$PAYO - Tech | Software Infra
RS, basing & whipsawing around its 10/20/50 MAs for over 6 months. begun trading directionally since July ahead of its ER
strong beat in Friday's ER have it trading above its 200MA for the 1st since 09/2021 on high vol, a sign of character change
Breakout trade in CWENClearway Energy (CWEN) is showing all the signs of a pending breakout move higher.
The stock has formed a base from November to present with price action compressing and pullbacks getting shallower from left to right - a sign that supply is no longer coming to market as the market works through sell orders in the $37 - $38 range.
CWEN is an alternative energy stock, and that sector is currently outperforming 95% of the market (ranked 8/197 in relative strength). This breakout could be part of a larger group move and an underlying theme I am seeing from potential leaders in the next bull market.
The stock has formed a pivot over the last week and a half, trading in a tight 4% range. A move outside of this area could lead to a nice move higher as the stock releases its energy from a large base.
Consider buying on a breakout above 38.30. And thanks to the tight pivot area, you can place a sell stop order at 36.30 to risk just 5% on the trade.
OTTR - Cup with Handle BreakoutOTTR just completed a 7-month cup with handle pattern, triggering a buy at the $70 mark.
The fundamentals are incredible for this company. Sales are growing at 40% per quarter and earnings are up by triple digits.
It meets all 9 of William O'Neil's CANSLIM scan criteria, and even has bullish 2023 estimates from analysts.
There is a risk, however. First and foremost, the company is scheduled to report earnings today (8/1/22) after the close. Traders will have to decide whether to try their luck pre-earnings or wait until after the numbers come out.
Breakout Trade in KNSLKinsale Capital Group (KNSL) is a mid-cap property and casualty insurance provider currently breaking out into new high ground.
The insurance group is ranked in the top 10% on the basis of relative strength. In other words, insurance stocks are outperforming 90% of the market. And Kinsale is the #1 name in the group in terms of earning per share, relative strength, volume accumulation, and its overall composite ranking on MarketSmith.
The chart shows a textbook volatility compression pattern from January to present with shallowing pullbacks and a relative strength line that has been trending higher all year.
Fundamentals are also strong with >50% earnings growth in each of the last four quarters.
Consider buying this leading stock here as it makes new highs.
US Stock In Play: $CVE$CVE - Energy | Oil & Gas Integrated
blow out quarter from ER yday, posting a record EPS of +0.92 (YoY +940%), and highest sales revenue of 12.95B (YoY +52%)
cleared AVWAP from ATH with imminent golden cross from short term MAs (10v20). a trajectory to resumption of its uptrend
US Stock In Play: $SGFY$SGFY - Healthcare | Health Information Services
15 mths into IPO, $SGFY traded as low as -66% to a ATL of $11 range. the level is acting as a major support with price action bouncing off the range on 4 occasion in 2022
wkly price action reflects a DTL BO since July. ER on 3/8
US Stock In Play: $ARIS$ARIS - Utilities | Regulated Water
Utilities is the 2nd best performing sector over last 6mths (after Energy). also the only 2 sectors that remains on +ve on past 1 yr
$ARIS microcap name, strong U/D Vol Ratio. recapturing $22 ATH looks imminent, for a overhead resistance BO
MCK Breakout TradeMcKesson is breaking out from a textbook volatility compression pattern. After a strong run higher in Q1, shares have formed a base with pullbacks shallowing from 12% to around 6% - a sign that sellers have been exhausted and supply is no longer coming to market. This will allow the stock to accelerate freely as demand increases for this stock.
Fundamentals look decent with steady earnings and sales growth. Additionally, the medical sector is showing strength in an otherwise weak market, and McKesson is a strong name to own in order to play that trend.
MCK broke out Monday on good volume above its resistance level. Traders can buy the stock here with a 7% stop to see if this move has legs.
US Swing-Trading: Best STOCKS to buyAll Stocks on our watchlist are absolute top picks and fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points.
www.tradingview.com
Featuring a few stocks:
PBH
With its next quarterly earnings report set for around Aug. 4, Prestige Brands (PBH) is trading approximately 10% shy of its all time highs. The stocks built a low risk entry in this range which we would call a cup with low-handle pattern.
Swing-Traders can build a first smaller position in this range and then add to the position as the stock enters new all time highs.
The entry is based on a first-stage consolidation.
Understand that buying a stock just ahead of earnings involves risk since you typically don't have enough time to build a profit cushion before the latest quarterly numbers come out. Be sure to follow sound buy and sell rules to minimize your exposure.
Prestige Brands reported 15% EPS growth in its most recent report. Sales gains came in at 12%.
Analysts are looking for earnings growth of -8% for the quarter, and 3% growth for the full year. Annual growth estimates were recently revised lower.
MCK
Mckesson (MCK) is forming a base offering a 340.04 buy point with its next quarterly report expected on Aug. 3. The entry is based on a second-stage flat base.
Keep in mind that jumping into a stock right as it gets ready to report means you likely won't have enough time to build a profit cushion before the release. That leaves you exposed to a sudden downturn if the company disappoints investors with poor numbers and/or weak guidance. You can reduce your exposure by waiting to see the actual numbers and the market's reaction. Using an options strategy during earnings season is another way to put yourself in a position to profit, while minimizing the potential downside.
Earnings growth dropped last quarter from 34% to 15%. But revenue moved higher, from 10% to 12%.
Consensus analyst estimates call for EPS growth of -5% for the quarter, and an -1% gain for the full year.
The company has a 97 Composite Rating and holds the No. 1 rank among its peers in the Medical-Wholesale Drugs industry group. Amerisourcebergen (ABC) and Cardinal Health (CAH) are also among the group's highest-rated stocks.
NYSE - SwingTrading: TPL position closed with 11% profitThe stock TPL in our JS-TechTrading portfolio reached its profit target and we have closed the position scoring a quick 11% profit after only a few days.
The stock is acting great, swing-traders can also close only 50% of their position and go for a larger move on the remaining half position. The other option is to move the SL up to the break-even level and 'free-roll' the stock for a larger move.
NYSE - SwingTrading: Buy Signal NXSTThe stock NXST on our watchlist crossed a low risk enty point and generated a buy signal, we have added the stock to the JS-TechTrading portfolio.
SL is less than 5.3% (SL at 163.3), win target is > 11%.
NXST has a high relative strentgh (IBD style) and broke out of a volatility contraction pattern earlier today under high volume . Until now, the price / volume action is great.
We have recommended to open an NXST position to our clients in real-time earlier today.
Here is the link to our current JS-TechTrading portfolio:
www.tradingview.com
While the stock market came under pressure yesterday, the majority of stocks in our portfolio held up well and only LI hit the SL.
Today's action of most stocks in our portfolio is very encouraging. In case things should further improve either during today's trading session or tomorrow, we will increase exposure to 30-40% invested.
