High-Ranked Leader Clears Resistance

MaxLinear, Inc. (MXL – NYSE) –  PORTFOLIO UPDATE

PROFILE: MaxLinear, Inc. provides integrated, radio-frequency (RF) and mixed-signal circuits for broadband communication and data center, metro, and long-haul transport network applications worldwide.

This stock was most recently added to the High-Ranked Leaders WatchList on 2/5/16 as its shares were setting up in a base.

The stock broke out on 3/4/16 as shares traded above the TRIGGER PRICE of $17.85 while the day’s volume was well on pace to make the TRIGGER VOLUME. This bullish action always confirms a BUY signal.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
CURRENT %
GAIN/LOSS
MXL $ 21.10 02-06-16 03-04-16 $17.85 +18.21%

 

LATEST ANALYSIS 7/24: This holding started this past week off with some decent gains on Monday which pushed shares to a new all-time highs close. Volume may have been only slightly above the normal daily rate, yet was by far the highest volume-day of the entire week.

Shares inched a bit higher on both Tuesday and Wednesday, before pulling back considerably (-2.35%) on Thursday, and closing at the session lows. Volume was however tame during this brief sell-off, being -26% below the daily average. This was while the Dow was having its first down day (-77.80) after nine days of straight gains.

MXL continued to trade lower on Friday morning, yet made a quick positive reversal to close the session positive (+1.34%).

The stock’s ranks remains nearly as high as they can be for this semiconductor leader, and technically there is virtually no resistance in the way of further possible gains.

At this point our 1st SUPPORT remains the 50-day moving average, which is currently at $19.61, or nearly -8% below Friday’s close.

The company will release its financial results for the second quarter 2016 after the close of the market on Monday, August 8, 2016.

MXL072416

Charts courtesy of StockCharts.com

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Dow Breaks Win Streak – BreakOuts Pull Back

After nine consecutive up days -Dow off 110 in afternoon trading.

No new breakouts today.

Our three breakouts from yesterday (EXP, USG, and IEX) are all trading lower today, yet volume for each is much lighter.

Other stocks making the highlight reel are RAI as it traded down to support of the 50-day moving average ($51.36). As previously noted, a test of that level looks likely.

There is also LOW (-1.5%) and RTN (-2.5%) both down sharply to support of the 50-day moving average as well.

The positives are ACM which continues making gains today to new all-time highs, yet volume is only about par in afternoon trading.

IGT is making its fourth day of gains on above average volume.

Here is an update on a previous breakout from my Trendline SetUp WatchList.

Continue here -> http://jamestaulmanspersonalportfolioservice.com/dow-breaks-win-streak-breakouts-pull-back/

Market Stubbornly Holds Up at New Highs

3:01 – Nothing breaking out today.

As far as our previous breakouts…

Most continue trading in a quiet fashion, with many holding up near new highs or above initial support.

The few exceptions are:

Our CMN which is falling a little further below the 50-day moving average.

Check out NTES making some decent gains today with an increase in volume.

There is also MXL adding to its recently made gains with some volume behind today’s move.

Here is an update on a previous breakout from my Trendline SetUp WatchList.

UPDATE: The Cooper Companies Inc. (COO – NYSE)

Continues with some quiet digestion of the recent gains which were made from the 50-day moving average.

Ranks remain very high.

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

SEE COMPLETE REPORT HERE

Another Quiet Day as Major Average and Stocks Hold New Highs

3:15 PM – It’s another quiet day from my perspective.

..and that perspective is of course – breakouts.

With no new breakouts, and previous breakouts holding up.

There is nothing much to do.

Here is an update on a previous breakout from my Trendline SetUp WatchList.

UPDATE: Monolithic Power Systems, Inc. (MPWR – Nasdaq)

Remains at resistance of the old highs at $70.

Not as extended as some other stocks, however.

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

SEE COMPLETE REPORT HERE

Dow Futures Up +150 – Not a Misprint

Yup. Dow and S&P 500 each closed at another new high yesterday. Now, futures are again higher and rather sharply higher in a busy premarket session.

European markets were also rising in early trading, with key indexes up by about 1%. Most Asian markets ended the day with small gains. Interesting though, the Singapore Exchange had some problems.

Check this out – it had to halt trading in the morning following issues with duplicate trade confirmation messages. It remained shut down for the rest of the day.

Here is an update on a previous breakout from my Trendline SetUp WatchList.

UPDATE: The Cooper Companies Inc. (COO – NYSE)

After pulling back yesterday from resistance of the former highs, shares are very quiet today.

Still, the stock remains in a steep and vulnerable uptrend while being extended from support.

COO071316

SEE TODAY’S COMPLETE REPORT HERE

Dow Hits New High – What Matters Most ?

3:02 PM – Okay. You heard it hear first – the Dow hit a new all-time high. After you put the champagne down, what matters most? About two weeks ago when the Brits voted to leave to EU… After you watched all the pundits say that the world was coming to an end, what mattered most?

Of course, YOUR stocks – and how they were doing.

As I continually preach – always judge each stock on a case-by-case basis.

In yesterday’s report I noted that as our stocks were approaching resistance of some former highs, many lacked volume conviction.

I said – “Many of our previous breakouts are making new highs. However, volume lacks serious conviction in several, and this is a concern. For those shorter-term traders who like to take quick profits [or small losses], now could be a good time to do so.”

Today I have some examples: COO, ACM, CBM, INTU, AHS, HII, MXL

There is also NTES as shares are nearly reversing today after being higher earlier in the session.

Stocks showing strength are: IGT as it is moving higher today with a welcomed increase in volume.

There is also WTS as its gap open volume-backed gains have shares blasting to new 52-week highs.

Finally, check out DW which continues trading sharply higher, with a pick up in volume today. Although extended, there still seems to be some demand for this stock.

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

Previous TrendLine BreakOuts – Portfolio

The stocks in this table are from the TrendLine SetUps WatchList and had previously traded above their respective TRIGGER PRICE while each also cleared their TRIGGER VOLUME, and became a BUY. They are now covered here (below) as holdings, and are being monitored for any weakness or SELL signals.

Continue Reading

Latest BreakOut From My Technical SetUps WatchList

Exlservice Holdings, Inc. (EXLS – Nasdaq)

BreakOut: Friday, July 8th

ExlService Holdings, Inc. provides operations management solutions and analytics in the United States, the United Kingdom, and internationally.

This stock has been in the Sunday Stock Report Portfolio since it broke out of the High Ranked Leaders Watch List on 2/23 as the company announced earnings.

SYMBOL
LAST
ADDED TO
WATCH LIST
BREAK
OUT
DATE
BREAK
OUT
PRICE
%
GAIN
LOSS
EXLS $ 53.86 02-06-16 02-23-16 $ 48.00 +12.21%

EXLS071016

Charts courtesy of StockCharts.comContinue Reading

Our Top 15 Strongest Stocks In This Market

Just when it looked like the market was going to possibly start a summer rally, the British decided to exit the EU, and that sent global markets reeling.

The decision had our Dow close down 600 points on Friday, and that of course put some severe pressure on our individual holdings.

It days like these when one can clearly see which of their holdings have technical strength versus those that don’t.

As I continually preach, you should sort your current holdings from the technically weakest to the strongest. This exercise will best prepare you to be able to more quickly cut your weaker performers, as those should be the first to go. You should always prune your portfolio by trimming the weakest first, while leaving your stronger acting stocks to possibly ride out the corrective phase of the market’s perpetual bullish to bearish cycles. Once the market turns back up, those stocks should continue their advance, building more and more of a profit.

To sort your stocks properly – watch your holding’s daily price/volume action. I call this the stock’s vitals. Consider the daily price action along with and compared to the daily volume. A stock moving up with an increase in volume (+1.2%/+65%), is good, while a stock trading down with a rise in volume (-2.3%/+56%), is bad. Simple as that.

Also, see how shares behave if the stock pulls back to certain support areas. These are price points such as the previous highs of a base, an upward trendline, or more importantly the 50- and 200-day moving averages.

Generally speaking, positions which are selling off on volume are technically deteriorating, those which are breaking support are triggering sell signals.

Don’t follow what may be conventional wisdom and sell a winning position – just arbitrarily or because it is up and you will feel good taking a nice profit. Also, don’t hold a losing position with the hope it will come back. Losing positions should be cut as early as possible, and always strive to never take a loss of more than -8% below your purchase price.

When your stock pulls back, see if it is declining in a down market or against an up market. If your stock is lower while the market is moving higher, that is obviously not good. On the other hand, if the market is down big (like on Friday), you should expect your stocks to be struggling at the least as well. Those stocks which hold up should be noted.

After Friday’s carnage, here are our top 15 strongest stocks in descending order of their breakout date.

#15 Thursday 6/16: BreakOut

STORE Capital Corporation (STOR – NYSE) P/L: +2.74%

STORE Capital is a privately owned real estate investment trust. The firm invests in the real estate markets.

STOR062516

 

CONTINUE READING REPORT HERE

Major Averages Face Resistance – Futures Sharply Lower

Dow futures off nearly 100 points as of 8:3o AM.

They’re saying – “Global markets are slumping, oil is dropping, and government bonds and gold are surging as investors seek safer ground.”

Okay. So, that is what we are working with today. Never a need to panic, of course. Just see what unfolds and respond appropriately.

I think, I (and probably everyone else), had talked enough about the the major averages yesterday as far as them being up against resistance.

Each held up Thursday, yet futures are considerably lower this morning as we anticipate a pullback.

If the market does pull back, we will closely monitor our current positions for any individual weakness.

Holdings which are extended, should be considered the most vulnerable.

Extreme examples include: NTES (P/L: +13.6%), DW (P/L: +31.9%), ERI (P/L: +47.7%), CMN (P/L: +3.9%), IGT (P/L: +6.2%), AHS (P/L: +35.3%), HII (P/L: +27.2%).

SEE TODAY’S COMPLETE REPORT HERE