It’s a relatively quiet day in the market, especially compared to the previous three sessions where we had 19 breakouts.
We have no new buys today as of 3:00 PM.
As noted in this morning’s report, I was watching for CLS to give us a possible entry as the company announced earnings after the close yesterday. Shares are up +11% today, yet the stock did not give a chance to prudently get in.
Other TrendLine BreakOuts with noteworthy action today include…
WTS with some nice above average volume (+30%) gains today (+2.3%).
Chart courtesy of stockcharts.com – Click chart to enlarge.
Management at TCB announced earnings this morning, before the open and shares opened with a gap lower as the results did not meet Wall Street expectations. We currently sit with +16% gains.
Our VMW reported earnings yesterday after the close, and shares opened this morning with a gap up as they beat street 4Q forecast.
After some nice above average volume (+67%) gains (+1.8%) yesterday to a new multi-year highs, shares of PACW are pulling back today, yet volume is well below average.
That ANGO is still not making any positive progress. The market has been rallying this week, and this stock did not participate.
Shares of ASGN are selling off today with some rather sharp declines of -4% with above average volume. This is a concern, and we now need to see how the stock behaves if it meets support of the 50-day moving average ($43.70).
A recent breakout, MRVL had a bit of a negitive reversal yesterday. Today, shares are sitting tight this afternoon.
After selling off yesterday -2% on above average volume, MPWR is making some gains today, yet volume lacks necessary conviction to negate that weakness.
Finally, RTN is still experiencing some earnings volatility.
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