ENPH waiting for another breakout attemptEHPH building nice congestion on WK. Can be considered a flag on D. IBD highly rated stock. Part of TAN etf (Solar group) congesting after diagonal breakout.
Ibd
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.
NYSE - SwingTrading: updated WatchlistS tock Market reversed lower after key test, partially fueled by more worries about the economy
Apple (AAPL) plans to slow hiring and spending in some divisions next year which concerned traders yesterday.
Monday's weak session was another reminder that many sellers and lots of overhead supply is still putting pressure on the markets.
What should Swing Traders do now?
Sitting in a healthy cash position with limited exposure to individual stocks makes the most sense at this point. When institutional money starts coming in again, that's when you'll see breakouts of stockos on our watchlist really working and following-through. Until then, sitting mainly in cash with only few pilot positions in your portfolio is strongly advised.
Continue to do your homework and be ready when the next bull market starts - which will definitiely happen sooner or later.
Here is the link to our updated watchlist:
www.tradingview.com
All stocks on our watchlist fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points. Only the best stocks make it onto our watchlists.
NYSE - SwingTrading: Buy Signal LIThe stock LI (Li Auto) on our watchlist crossed a low risk enty point and generated a buy signal, we have added LI to the JS-TechTrading portfolio.
SL is less than 5% (SL at 37.05), win target is > 10%.
LI 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 LI position to our clients in real-time earlier today.
$RCMT looks good for a long position$RCMT this had a great day yesterday, reclaiming all key daily moving averages as well as the 10 week moving average. Good room to hit ATHs over $24.13 ($24.02 could also work with volume)
Alico Inc. $ALCO, inside bar signalAlico Inc NASDAQ:ALCO produces citrus fruit, while engaged in catle ranching and conservation. So is in the Agricultural Operations Industru Group and is Ranked #1 in Profit Margins. Although, for the six months ended 31 March 2022, Alico, Inc. revenues decreased 7%.
The thing is that the technicals are showing strength. With a IBD RS rating of 94, ths stock price is n a confirmed uptrend. Today's price range is inside the previous bar. A breakout above yesterday's range is a pretty good buy signal for me.
PS: IBD is signaling a confirmed uptrend in the CME_MINI:ESM2022 .
Anthem, Inc. $ANTM flashing a VCPAnthem, Inc. is a provider of health insurance in the United States and is ranked 23rd on the Fortune 500. Fundamentals are very strong, it has an average YoY revenue growth of +14% for the las three quarters, and the last two quarters had EPS and Margin growth over the hundreds.
IBD is giving NYSE:ANTM a #1 rank in its industry group and a 94 relative strength rating. That is synonymous of good fundamentals accompanied by very good technicals. Relative to the NASDAQ, the index has done three lower lows as NYSE:ANTM has done three higher lows. That is the kind of action a future leader does.
Also, if you compare it against its sector AMEX:XLV , is doing way better.
For the las 5 weeks, the price has been making a classic VCP with a pivot buy above $472. Today had a bad close but with low volume, that is a good sign. But, as the market is still in a correction, breakouts aren't working very well. Is time to be cautios so, if the breakout happens I'll buy 1/4 of my typical position sizing.
Next market leader? $VIRTVirtu Financial is an American company that provides financial services, trading products and market making services. Although its fundamentals aren't what I ussually look for, its technicals are showing real strength in a market that laks strength.
After a nice leg up from a long cup & handle NASDAQ:VIRT took a rest and formed a nice flag pattern. In which, yesterday made a breakout and I bought a small position.
This flag has a flagstaff of 6.76 points. TA rules state that after the breakout, the price should reach the same 6.76 points up. That would be equal to target price near $42, or a +19% advance. But I'll be very cautious as there is a strong resistance level at $38.
With a IBD RS rating of 95 and a number 3 in the IBD Industry Group Rank, Virtu is posted to be one of the leaders of the next bull market. Today is a good example of leadership as is having a good follow through day with an up day of +3% while the NASDAQ is down -1.70%.
Chemicals leader $UNVR with the follow throughLast week, Univar Solutions NYSE:UNVR made a breakout off a symmetrical triangle. And today, with a gain of +4%, is the follow through day.
IBD Investors gives a #2 Industry Rank and relative strength rating of 89. Also, as its earnings, EPS and profit margins show 2 consecutive double-digit increase, NYSE:UNVR is posed to make a good run.
But, with the market still under pressure, I took a 1/5 position. I intend to add more as the market gives me signals.
Steel Partners $SPLP, technicals over fundamentalsSteel Partners is one of the leaders in the acquisitions business and with a well diversified portfolio reported an increase in revenue of +18.70%, as compared to the same period in the prior year. Also published an increase in EPS of +24%, but its net income and net margins decreased. This aren't the best fundamental siganls but at least has two quarters in a row with revenue growth.
Now the techniclas have all that I look for. With a IBD RS rating of 99, high volume in up days and low volume in down days, and still in the breakout zone I decided to buy 1/4 of my postion sizing. I decided to start small because the market environment is still bad, and the stock hasn't make a new all time high. I plan to add to my position at the breakout above $38.50 and if it follows through.
I'd like to add that maybe, one of the main reasons of the recent rise of NYSE:SPLP is because of the increase in value of NASDAQ:STCN . Steel Partners holds a 41% ownership.
Capital Bancopr $CBNK waiting for earning reportThe commercial bank is making an ascending traingle, or a volatility contraction pattern. Volume is been declining throughout the formation and the price is above the 21 and 50 day MA. Also, has a IBD relative strength rating of 93. These are good technicals.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that NASDAQ:CBNK is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing NASDAQ:CBNK number 4 in its Industry Group.
I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.
American States W. $AWR, defensive stock going up after a VCPAfter NYSE:AWR made a good breakout with a break away gap from a Volatility Contraction Pattern, is making a good and strong follow through. Also, the MACD is positive and going up.
The quotient against the SP:SPX shows good realtive strength against the market; IBD Investors gives a 72 relative strength rating, and is #3 in its industry group. NYSE:AWK is leading the price action of the Utility-Water Supply Industry
Now the price is resting between $91 and $88. I will be looking for a breakout above that area to enter a position. With a risk/reward ratio of 3:1 it looks like a good trade. If the price follows through after that breakut I'll add to the position once the price breaks above $96 which is an area of strong resistance.
Breakout confirmation for $TSLA?Yesterday the price of NASDAQ:TSLA made a breakout from a downtrend line with good buying volume. It has pretty good relative strength against the market and the ADX is the 20s, stating that its not on trend yet. So, this could be the start of another bull run.
NASDAQ:TSLA has a IBD relative strength rating of 80 and is Rank #1 in its industry. Still, it needs to break above $720 with good volume to actually confirm the upward move and have a perfect buy point.
$ANET is a clear leader, does still has room to go?Arista Networks NYSE:ANET is a company that delivers software-defined networking solutions for large datacenter, cloud computing and high-frequency trading environments.
According to IBD is the leader in its industry (Computer-Networking Group). I compared Arista Net to AMEX:IYZ , an ETF concentrated in telecommunications and NYSE:ANET is leading the sector. IBD gives a Relative Strength Rating of 86 against the market.
So, the stock broke out of a large base in November of 2020 and at that moment its Price/Earnings Ratio was at 30 something. Then on the 2nd quarter broke out of a "cup and handle" and now is breaking out of a flag pattern; this is a very good continuation pattern. The thing is that its PE Ratio is nearing 50, so it has increased a lot since it broke out from its frist base. This could mean that it may not have a lot of room to go.
As for today, the buying volume is not above average so I would wait for more confrimation signals. Still is a stock to watch very closelly.
Reatil leaders, looks like $TLYS is going for itThe chart is really looking good. Confirmed uptrend with a VCP formation while above its moving averages accompanied with decreasing volume. Also, it has a very good IBD Relative Strenght rating, 92 points. For me is a good stock to buy but I'm being very carefull, there has been a bunch of failed breakouts lately so wait for confirmation. I'll wait for the breakout AND how it closes on the day it makes that breakout. If the volume is high and it close above with strength then I'm buying but, with half of my position size.
After that I'll keep a close eye on the next week of trading counting the up days vs the down days. If everything looks good I'll let it run if not, I can sell half the position or the entire position. Only if the stock follows through on increased volume I would add to the position.
Tyson Foods $TSN breaksout, but I'm not convincedNYSE:TSN looks great, is clearly in an uptrend breaking out of a second base after beating EPS estimates last week. The thing is that I don't see volume action, or a good follow-through. Still, I keep my eye on this one. Industrials have been leading the market for the last weeks and NYSE:TSN is one of the leaders of the Food Production Industry, is rank 3th by IBD, and has a Relative Strenght Rating of 69. Ussually I'd like it better if it had a higher number regarding its relative strength.
I'd like to add that I'm watching NYSE:DAR and have a small position in NYSE:INGR . All leaders in the Food Industry.
VCP formation for $NIUNASDAQ:NIU has good footprint forming a VCP in the last 13 weeks while above the 200 day moving average. Is not the best type because I like to see this with price also above the 20 and 50 day moving average, but still is worth to look at. Is very possible that a good rally is on the way. Also, the stock has a 92 rating for the IBD Relative Strength; one of the things a really want to see in a stock no matter what.
A good thing to add is that NASDAQ:NIU is in the top 10 with best WTD Alpha in the list Motor Vehicles & Passenger in Barchart.
The fundamentals aren't that great if you only look at the last quarter, but annually has a solid revenue growth.
Square $SQ is back!The price of NYSE:SQ is back above its 50 day MA and going for the breakout. I had this stock before the correction and got a really good profit, I think I can do it again. The thing I like the most is that is clearly a market leader.
I wanted to compare NYSE:SQ with its real peers, so, AMEX:ARKF is the perfect ETF to do it. The quotinet shows I good relative strength for Square.
The stock is rank #1 by IBD in its industry and has an IBD relative strength greater than 90 points. And better so, is #2 top holding of AMEX:ARKK . This are all bullish signs for me.
Microsoft is testing supportI have a position in NASDAQ:MSFT and I'm waiting for a better set up to buy again. Right now is testing support in the $230 zone, this would be a good signal to buy but is too risky. I always preffer to buy on breakouts. The godd thing is that the selling volume it hasn't been to great but still, the market is too volatile right now. The best thing to do is wait.
Another good thing about NASDAQ:MSFT is that is rank 2 by Investors Business Daily in the Computer Sftwr-Desktop Group and is an IBD Leaderboard stock. Also, analyst SCOTT LEHTONEN, from IBD, wrote "The best Dow Jones stocks to buy and watch in March 2021 are Apple (AAPL), Disney (DIS), Microsoft (MSFT) and Visa (V)". This are the kind of things a like to see when I'm wainting to buy a stock or holding it. You can say that this is part of my Fundamental Analysis.
3D printing, I want in $DDD $SSYSI read Ark Invest's Big Ideas for 2021 and according to them NYSE:DDD and NASDAQ:SSYS are the leading companies of the industry. As you can see in this chart, there is a clear winner when it comes of ROE, but I'll be buying the first one that plays by my rules. At the moment NYSE:DDD is ranked 3rd in its group by IBD Investors and NASDAQ:SSYS is ranked 4rd. Both are having a pretty heavy pullback that I intend to capitalize. Patience is the key, is better to get in late than early.
Although, NYSE:DM is ranked 1st in the same group so, is worth to take a look at.
Potential IPO base $LMNDPotential IPO base
"90 seconds to get insured. 3 minutes to get paid"
If you haven't already noticed, we are living in a world of immediate gratification. Insurance is just another sector that's ripe to be disrupted by better efficiency.
TA,
- Increasing volume and consolidating at previous highs $69.
FA,
- Disrupting the archaic industry of insurance
-High NPS score of 70. Industry average is 70.
- $5 Trillion TAM. Current market cap is $3.8Bn
- Huge barrier between insurance companies and customers. Making claims is a headache. Lemonade is bridging that gap through better customer service by leveraging the powers of AI. AI JIM and AI MAYA
- +167% revenue growth 2020
- Expansion beyond US. France is next by end of 2020.
- Only 3 types available still. Renters, home and pet insurance. More potential for other types
Concerns,
- Still not fully convinced of the business model
-Continued losses(side effect of disrupting)
- Price discovery phase still so will be super volatile.
Entry : Break of 69.2
Stop loss: 62.2
Follow Through Day on 3 indexesA follow-trough day was made yesterday September 30th on $COMPX, $SPX and $DJI.
We would deny this pattern and most likely the rally, if we break-down below June highs, or 100sma on the SPY.
Check out the idea on Distribution & Follow Through Days for more info.
