After yesterday’s market sell-off, I’ll do a quick recap of stocks signalled here since blog’s start, before taking a two weeks' vacation.
NPD – The signal was the break-out of 2.5 so the entry hasn't been triggered. Yesterday the stock sold off but there was somewhat of a reaction from the lows of 2.22 which is positive although I wouldn’t touch it for the moment.
L – After reaching exactly 44.5, the point signalled as entry if broken, the stock sold off violently, so this name exits from the watchlist.
GNTX – This stock yesterday held up very well, opening at 28.74 but closing higher at 28.9 on very high volume (although the price was down -0.52% for the day). This is a constructive behaviour and, if market manages a rebound, this name could follow. A safe play on it would be waiting for an up-day on high volume breaking the 10,30 and 50 days SMAs.
SCHW – The stock rose, after triggering the entry point at 28, to a high of 28.65 but yesterday it followed the market giving back all the gains and closing at 27.75, near its 10 days SMA. The up-trend is still intact and 27.75 was a short term resistance and could act now as support.
BSX – Boston Scientific didn’t break 13.35 and it’s still ranging.
SOHU – Price broke the high signalled as pocket pivot at 58.24 but didn’t follow through. Volume on down days isn’t remarkable and the behaviour is still constructive. Maybe it needs more time to digest the earnings report.
CLNT – Cleantech Solutions is falling but on low volume and the resistance area of 5.2 is still below.
BORN – The same is valid for China New Borun, which lost -4.30% yesterday. The price is below the daily averages but it’s still inside the range.
As said, I will be on holiday for the next two weeks.
I wish you all happy summer holidays!
DISCLOSURE: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
As said, I will be on holiday for the next two weeks.
I wish you all happy summer holidays!
DISCLOSURE: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.