Biotech ETF is holding a 5-year base breakout as it pulls back from a recent run-up close to new high. Lots of individual names with strong sales setting up in, and breaking out of bases. There's a future here. The industry breakout is ripe.
Genome editor Intellia Therapeutics poised for new highs after pulling back from high-volume charge at this mark Wednesday. Strong sales, less than desirable earnings and cash flow, but perhaps the momentum is gaining there.
PetMed Express, an online seller of pet medicine (prescription and non-prescription) is in a hot category with attractive sales and possibly improving earnings. The have a history of disappointing financial reports. But chart-wise, one might consider that good risk/reward as price action attempts to carve a right side of a base. My opinions only. You decide.
Growth stocks are trending higher, breaking out, and perhaps blazing the way for a new leg higher for the Bull. Just look at that upward slant of the 50-DMA on the S&P 500. Never mind recent lag from the tech giants we're accustomed to leading us higher (AMZN, AAPL, GOOG, MSFT.)
The algo crowd must have been turned on its head today after a strong rally on the heels of Trump's "pump" tweets reversed yesterday's heavy selling triggered by his retreat from covid stimulus relief negotiations with Congress. It was a gangbuster day for growth stocks. The S&P 500 closed above its 50-DMA on lighter volume than yesterday.
Fastly, Inc. Well-bid cloud computing industry. YoY Sales of +60% Working on the earnings part of the picture. Good accumulation, presumably from funds. Second base breakout this year. Popular CANSLIM type play.
Sea Limited. Nice industry group with E-Sports, nice high volume out of chart base and great sales growth make it a great looking buy. Beware the history of earnings disappointments and less than ideal cash flow. Failure to breakout will be a warning to others in the e-sports group: AMD, ATVI, BILI, EA, NTES, NVDA, TTWO, ZNGA.
Closing in on its IPO high from 2017. Not the greatest fundamentals here, but the kids love it! Its breakout success will be telling of the environment.
The S&P 500 posted its fifth close in a row below its 50-DMA. Volume trend supports Bears. Financials are downside leader at moment. There's still plenty of solid growth stocks with chart patterns that haven't completely broken apart. Maybe second quarter window dressing will fix things for the Bulls as we wrap up September next week. But heavy bets may off until...
Sure looks like a big 'ol failed breakout on the S&P weekly chart. Next step would be a close below Monday's low. Volume shows distribution trend. Is money leaving or rebalancing?
Sure looks like a big 'ol failed breakout on the S&P weekly chart. Next step would be a close below Monday's low. Volume shows distribution trend. Is money leaving or rebalancing?
