S&P Breaks 50 DMA – AHS Triggers Sell Signal

3:35 PM – After a solid week, the major averages are pulling back today as the S&P 500 breaks below its 50 day-moving average.

As with any market pullback we will turn our attention more towards our current holdings, looking for signs of individual weakness or breaks of support, which are sell signals.

Nearly all of our stocks are weathering today’s storm rather well.

However, shares of AHS are breaking below support of the 200-day moving average, and that is a SELL signal.

Other stocks of ours with stand-out action today include…

Our latest breakout CORT  is holding up today as the market pulls back.

SSTK is making more new highs today, yet volume continues to lack conviction as shares start to get a little extended above the 50 DMA ($58.27).

Any questions or concerns, of course, please email me at james@jamestaulman.com.

 


 

After a Solid Week with 8 BreakOuts – Friday Futures Lower

After a solid week, U.S. stock futures are slipping and European markets are declining by about-0.5%.

So far this week, we have had a total of eight breakouts.

1) ABIOMED, Inc. (ABMD – Nasdaq)

ABIOMED, Inc. engages in the research, development, and sale of medical devices to assist or replace the pumping function of the failing heart.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
ABMD $124.95 09-19-16 09-19-16 $125.03

 

abmd092216

Chart courtesy of stockcharts.com

2) Hewlett Packard Enterprise Company (HPE – NYSE)

Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
HPE $22.98 09-19-16 09-19-16 $22.42

 

hpe092216

Chart courtesy of stockcharts.com – Click chart to enlarge.

3) YY Inc. (YY – Nasdaq)

YY Inc., through its subsidiaries, operates an online social platform in the People’s Republic of China.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
YY $53.78 09-19-16 09-19-16 $56.02

 

yy092216

Chart courtesy of stockcharts.com

4) ARRIS International plc (ARRS – Nasdaq)

ARRIS International plc provides media entertainment and data communications solutions in the United States and internationally.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
ARRS $28.96 09-19-16 09-19-16 $29.00

 

arrs092216

Chart courtesy of stockcharts.com

5) Dorman Products, Inc. (DORM – Nasdaq)

Dorman Products, Inc. supplies automotive replacement parts, automotive hardware, brake products, and household hardware to the automotive aftermarket and mass merchandise markets in the United States, Europe, Mexico, the Middle East, Asia, and Canada.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
DORM $67.28 09-19-16 09-20-16 $65.16

 

dorm092216

Chart courtesy of stockcharts.com

6) Edwards Lifesciences Corp. (EW – NYSE)

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients worldwide.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
EW $120.87 09-19-16 09-21-16 $119.02

 

ew092216

Chart courtesy of stockcharts.com

7) Corcept Therapeutics Incorporated (CORT – Nasdaq)

Corcept Therapeutics Incorporated, a pharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
CORT $6.49 09-19-16 09-22-16 $6.26

 

cort092216

Chart courtesy of stockcharts.com

8) Masimo Corporation (MASI – Nasdaq)

Masimo Corporation, a medical technology company, develops, manufactures, and markets noninvasive monitoring technologies worldwide.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
MASI $60.32 09-19-16 09-22-16 $60.12

 

masi092216

Chart courtesy of stockcharts.com 

I ran my regular stock screens early this morning, yet did not add any new stocks to any of our watch lists.

Any questions or concerns, please email me at james@jamestaulman.com.

 


 

Nasdaq Hits Record High – Two More BreakOuts

3:50 PM – The rally continues.

All of those who were waiting and worried that the market would pull back must have been satisfied with the recent test of support as the Nasdaq hit a new high today.

We also had another two breakouts as CORT and MASI both traded above their respective TRIGGER PRICE this morning.

Chart courtesy of stockcharts.com – Click chart to enlarge.

Chart courtesy of stockcharts.com – Click chart to enlarge.

Throughout the week we had EWHPE, ABMD, DORMYY, and ARRS breakout.

That brings the total number this week to eight.

All this from a watch list of 16 high-ranked stocks.

Detailed updates on all previous TrendLine BreakOuts can be found below.

Any questions or concerns, of course, please email me at james@jamestaulman.com.

 


 

Futures Higher After a Solid Up Day – BreakOuts Continue

Solid up day yesterday, sparked by the Fed announcement.

This morning, Europe’s markets rallied and oil prices advanced for a second straight session.

Germany’s Dax is up nearly +2%.

Asian markets also made solid gains over the course of the day.

U.S. futures now pointing to a higher open here at home.

We had another breakout late-yesterday afternoon as shares of EW traded above their posted TRIGGER PRICE of $119.02.

Volume was however below average, being off by -27%.

Hence, this stock did not confirm a technical BUY signal.

Chart courtesy of stockcharts.com – Click chart to enlarge.

Any above average volume gains from here would be buyable up to the stock’s MAX BUY PRICE of $124.97.

Before, EW we have had five breakouts already this week.

HPE – Continues making gains. Just wish the volume was greater.

Our 1st SUPPORT is the 50 DMA at $21.35.

Chart courtesy of stockcharts.com – Click chart to enlarge.

ABMD – Made a new all-time high close yesterday, yet volume was below average.

Support at the 50 DMA $119.61.

Chart courtesy of stockcharts.com – Click chart to enlarge.

DORM – New all-time high close. Support offered by the 50-day at $61.80.

Chart courtesy of stockcharts.com – Click chart to enlarge.

YY – Just barely and very briefly traded above its TRIGGER PRICE of $56.02 on Monday, then headed lower.

Chart courtesy of stockcharts.com – Click chart to enlarge.

ARRS – Broke out on Monday morning, then pulled back a bit.

Still looking for some above average volume gains.

Support, if needed is at the 50-day ($26.96).

Chart courtesy of stockcharts.com – Click chart to enlarge.

I ran my regular stock screens early this morning, yet did not add any new stocks to any of our watch lists.

Any questions or concerns, please email me at james@jamestaulman.com.

 


 

Fed Stands Pat – Stocks React With Quick Rally

2:58 PM – The major averages added gains after the Federal Reserve decided to leave interest rates unchanged Wednesday afternoon.

This week’s breakouts from our watch lists (ABMDARRSYYHPE, and DORM) are so far holding up.

Nearly all of our previous TrendLine BreakOuts are rather quiet, except for a few such as…

COO which has some declines today with a sharp increase in volume, yet shares remain above support of the 50-day moving average, which is currently at $182.79. It is scheduled to join the S&P 500 after the market closes tomorrow.

Shares of ERI are volatile again today as the company entered into a definitive agreement to acquire Isle of Capri Casinos.

Our DOC is making continued gains. As noted yesterday – “A break above resistance of the 50-day moving average would be significant.” That is happening today with volume conviction.

Any questions or concerns, of course, please email me at james@jamestaulman.com.

 


 

Futures Again Higher Ahead of FMOC

World markets rose on Wednesday, led by a surge in bank shares, after the Bank of Japan overhauled its monetary policy to target interest rates.

Investors’ focus now shifts to the U.S. Federal Reserve policy decision to be released later today.

At this point, expectations of a rate increase have basically evaporated.

U.S. markets are set to follow Europe higher.

We have had five breakouts already this week.

The latest being from our Technical SetUps WatchList, as shares of DORM traded above their TRIGGER PRICE yesterday.

I ran my regular stock screens early this morning, yet did not add any new stocks to any of our watch lists.

Any questions or concerns, please email me at james@jamestaulman.com.

 


 

Major Averages Fight to Hold Gains – Another BreakOut

2:52 PM – As was the case yesterday, the major averages started the day with gains, then pulled back.

They are now trading off of the lows, with no real concerns.

We have had five breakouts already this week and it is only Tuesday.

From our Technical SetUps WatchList, shares of DORM traded above their TRIGGER PRICE, and a BreakOut Alert was sent out to all members.

Our previous TrendLine BreakOuts with some notable action today include…

ERI as it continues to be volitile again as the company entered into a definitive agreement to acquire Isle of Capri Casinos. Support is at the 200-day moving average.

After some solid gains yesterday to new all-time highs on more than twice the average volume, NTES is pulling back some today and that is a concern.

Declines can be seen in ABM today with an increase in volume, yet it remains thus far above support of the 50 DMA.

Any questions or concerns, of course, please email me at james@jamestaulman.com.

 


 

After a False Start Yesterday – Futures Higher

The major averages started off Monday morning with some decent gains and stocks breaking out.

However, at mid-afternoon the indexes were sitting with loses on the day as the breakouts pulled back.

This morning, U.S. stock futures are holding steady with some gains ahead of the open.

European markets were mixed in early trading, while Asian markets closed out the day with muted results.

We had four BreakOuts Alerts yesterday.

Two from the Technical SetUps WatchList…

ABMD – Broke out in the morning with above average volume, then dipped before closing basically unchanged.

HPE – Continued to new all-time highs with just above average volume.

Two from the TrendLine SetUps WatchList…

ARRS –  Broke out with volume in the morning, then traded back below the TRIGGER PRICE of $29.00 and that is a concern. 1st SUPPORT is at the 50-day moving average ($26.79).

YY – Just barely and very briefly traded above its TRIGGER PRICE of $56.02, while volume was only about average, then headed lower. Did not confirm a BUY signal.

I ran my regular stock screens early this morning, yet did not add any new stocks to any of our watch lists.

Any questions or concerns, please email me at james@jamestaulman.com.

 


 

Major Averages Off of Highs – 4 New BreakOut Alerts

2:58 PM – The major averages are off of their morning highs, yet are also up from the afternoon lows.

After adding 8 stocks to our watch lists this morning, we actaully had 4 breakouts today.

1) ABMD – Broke out this morning, then dipped, yet now is trading with a gain.

2) ARRS –  Broke out with volume, yet is now trading back below the TRIGGER PRICE of $29.00 and that is a concern.

3) YY – Just barely and very briefly traded above its TRIGGER PRICE of $56.02, then headed lower.

4) HPE – Continues at new all-time highs with just above average volume.

Our previous TrendLine BreakOuts with noteworthy action today are…

Shares of ERI which are volitile as the company entered into a definitive agreement to acquire Isle of Capri Casinos.

Solid gains are seen in NTES today on more than twice the average volume.

CMN is holding on to Friday’s solid above average volume gains as trading is rather quiet today.

IGT remains at new highs as its ranks are solid.

Any questions or concerns, of course, please email me at james@jamestaulman.com.

 


 

2 Fresh BreakOuts From Our Stock WatchList Morning Update

This week we had a total of two breakouts from our Stock WatchList Morning Update report.

If you would like to start receiving that report in your email inbox each market morning, you can now sign up for it below.

1) Tyler Technologies, Inc. (TYL – NYSE)

BreakOut Alert! 9/15/16 

Tyler Technologies, Inc. provides integrated information management solutions and services for the public sector with a focus on local governments in the United States and internationally.

This high-ranked leader was added the Stock WatchList Morning Update on 9/6 as shares were building a base while trading just above the 50-day moving average.

The stock broke out and triggered a clear technical BUY signal on Thursday as it traded above its TRIGGER PRICE of $171.51 with volume conviction +89% above the daily average.

A BreakOut Alert! was sent to all subscribers at 11:54 AM via email.

For those who missed this breakout – any gains with volume would be buyable up to the MAX BUY PRICE of $180.09.

For those who bought this breakout, of course, any above average volume declines would be the first concern.

This is especially true, if we eclipse the highs of the base (top blue line on the chart) which is our 1st SUPPORT.

We are going to use the 50 DMA as our 2nd SUPPORT, currently at $165.66.

Below there, we have some support offered by the previous lows at the round $160.

tyl091716

Chart courtesy of stockcharts.com – Click chart to enlarge.

 

2) Dolby Laboratories, Inc. (DLB – NYSE)

BreakOut Alert! 9/15/16 

Dolby Laboratories, Inc. creates audio, imaging, and voice technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices.

This stock was added to the Stock WatchList Morning Update on 8/25 as it was near all-time highs and the 50-day moving average.

On Thursday, shares traded above the posted TRIGGER PRICE of $50.66 with volume that was above the normal rate.

A BreakOut Alert! was sent to all subscribers at 11:54 AM via email.

For those who missed this breakout – any gains with volume would be buyable up to the MAX BUY PRICE of $53.19.

From here, we are going to put our 1st SUPPORT at the 50 DMA at $49.58.

Below there, we have the previous lows near $48.00 (blue line on the chart).

dlb091816

Chart courtesy of stockcharts.com – Click chart to enlarge.

 

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About the Site’s Founder

Richard-James For more than 8 years James had served as Editor-in-Chief an independently licensed website that offered stock reports and services based on the CAN SLIM® investment system.

He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy.

Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace.

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