Market Continues Higher – Several More Potential BreakOuts

After a solid up day in the market yesterday, futures are higher this morning ahead of Wednesday’s open.

We had a record 7 breakouts yesterday, and there is the potential for more today as several stocks from our various watch lists are trading near their TRIGGER PRICE, and judging by the futures, the market may continue yesterday’s march to new highs.

So, we need to get focused and organized to best take advantage, as well as not make any missteps.

Here is an update on the 7 breakouts we had yesterday:

CDK, MCHP, UBNT and BERY – These four stocks traded above their TRIGGER PRICE, yet the day’s volume for each was NOT enough to have any of these breakouts to confirm a BUY signal.

TXN– Was an earnings breakout, with a +69% increase in volume. These types of breakouts carry more risk. The company announced results yesterday after the close. As previously noted, shares could gap up or down this morning. Neither is properly buyable.

EXP – Was an earnings breakout as the company announced that morning. These carry more risk. Shares closed well off of the morning highs. For those who are still interested in buying, any above average volume gains from here would be buyable up to the MAX BUY PRICE of $108.42.

IR – Came very close to confirming, if not confirming, a BUY signal very late yesterday afternoon. As I noted in the afternoon report – “The volume today has picked up this afternoon and this stock should be watched closely for the volume to make its TRIGGER VOLUME of 2,912,250, as that would confirm a BUY signal up to the MAX BUY PRICE of $83.28.” This still holds true today.

All of our watch lists have been updated this morning.

While running my routine stock screens early this morning, I added 4 stocks and removed 2 stocks from our Technical SetUps WatchList.

REMOVED:

1) TXN broke out yesterday ahead of earnings which were released after the close.

As noted here yesterday morning – “Although this stock may trigger a BUY signal by default if its shares trade above the TRIGGER PRICE of $75.35 with the required volume, keep in mind that earnings breakouts do carry more risk. So, caution is advised.”

 2) MCHP keeps advancing above its TRIGGER PRICE with a lack of volume conviction.

At this point, we have 16 stocks on our Technical SetUps WatchList and another 11 on our TrendLine SetUps WatchList. There are currently 0 stocks which meet the strict criteria for the High-Ranked Leaders WatchList.

Of those, her are the 14 which looked poised to breakout/trigger today including…

IR, HBHC, BERY, UBNT, CDK, EXP, and ORBK which are all already trading above their respective TRIGGER PRICE. Continued gains today in any of these while the stock’s volume is at least on pace to make the TRIGGER VOLUME, would have that candidate buyable up to its MAX BUY PRICE.

We also have FLEXAPHMRVLGPITREX, MLM, and SMTC all nearing their individual TRIGGER PRICE. Any gains above their TRIGGER PRICE while the stock’s volume is at least on pace to make the TRIGGER VOLUME, would have that particular candidate buyable up to its MAX BUY PRICE.

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Five New Watch List Additions – Watching UBNT for a BreakOut

Although the Trump inauguration has come and gone, investors still seem to be in a wait-and-see mode.

This morning U.S. stock futures are holding steady while most European markets edged higher in early trading.

Asian markets ended the day with mixed results.

Today, we have a flurry of earnings reports coming out before the open, and we can expect those reactions to have some influence on the major averages’ direction.

Releases due before the bell include the following: Johnson & Johnson (JNJ), Travelers (TRV), DuPont (DD), Alibaba (BABA), Verizon (VZ), and 3M (MMM).

What I noted a few weeks ago we are now seeing, as more individual stocks continue building new bases to potentially buy off of, while our watch lists have grown rather steadily.

Speaking off, I ran my routine stock screens early this morning and added another five stocks to the Technical SetUps WatchList.

At this point, we have 14 stocks on our Technical SetUps WatchList and another 11 on our TrendLine SetUps WatchList. There are currently no stocks which meet the strict criteria for the High-Ranked Leaders WatchList.

Of those 25 set ups, UBNT looks poised to break out as its shares traded +2.6% higher yesterday with a +50% increase in volume.

The company has a solid fundamental history and is overall highly ranked.

Shares are building a base at new all-time highs and just +5.5% above the stock’s 50-day moving average.

I consider this technically ideal as once this leader breaks out and triggers a BUY signal, there is no resistance/overhead supply in the way of any further possible gains. In the event of a pullback, we have sound support (50 DMA) just below our BUY price.

TRADING CRITERIA

SYMBOL

LAST ADDED TO WATCH LIST TRIGGER PRICE TRIGGER VOLUME MAX BUY PRICE
UBNT $60.09 01-24-17 $60.58 546,750

$63.61

Going forward, any gains above the TRIGGER PRICE while the stock’s volume is at least on pace to make the TRIGGER VOLUME, would have this candidate buyable up to the MAX BUY PRICE.

My standard formula for MAX BUY PRICE:
TRIGGER PRICE x 1.05

Additional set-ups from our watch lists which should be monitored closely today for a breakout include: BERY, EXP, ORBK, and MCHP.

Also, we have TXN which is currently on our Technical SetUps WatchList due to announce earnings today after the close. We can likely see some volatility before the session ends, and a possible either-direction gap at tomorrow’s open.

Although this stock may trigger a BUY signal by default if its shares trade above the TRIGGER PRICE of $75.35 with the required volume, keep in mind that earnings breakouts do carry more risk. So, caution is advised.

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

NOTE: We are still live-testing this new version of this report. There are several new features and enhancements slated for 2017. Any feedback is welcomed and appreciated.

 

ALL OF TODAY’S WATCH LISTS ALONG WITH
ANNOTATED CHARTS ARE HERE

 


 

Major Averages Higher – Two BreakOuts Yet No New BUYS

2:45 PM – The major averages are higher after President Trump’s inauguration, yet off of the day highs as we head into the final hour of Friday’s session.

We had two BreakOuts Alerts! this morning as ASGN broke out from our Trendline SetUps WatchList, and ORBK broke out from the Technical SetUps WatchList.

However, neither stock had enough volume behind the move to confirm a BUY signal.

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

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

Also our AVGO took off this morning with a gap open, while our ANGO fights to hold 50-day moving average support. (more below)

Shares of MPWR are making some decent gains this afternoon as shares start to make some new highs.

RTEC is back to normal trading today after a flash pop at about 11:00 yesterday with maybe some rumors of a merger.

There are lighter volume declines today in LCII as shares take out the previous lows and pull back to 50-day moving average support ($105.73).

Our INCY is trading with a +1% gain this afternoon, yet was much higher this morning.

TSEM is making some gains today to new highs by a couple of pennies.

Shares of TCB sold off sharply (-3%/+168%) yesterday as the company was hit with federal consumer finance regulators suing, alleging the bank deceived consumers so it could charge them exorbitant overdraft fees. Today, the stock remains right at support of the 50-day, which is at $18.30.

Shares of NTRS continue holding up today after a gap down -4.6% Wednesday as the company reported earnings results that did not meet Wall Street expectations.

PCH continues falling a bit further below support of the 50-day moving average, and has clearly breached the previous lows ($40.86 – green line on chart).

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Broadcom Confirms a BUY Signal Late Yesterday – Now ORBK on Deck

The 45th president of the United States is set to be sworn in as Donald Trump will take the oath of office today at about noon.

This morning, European markets are mostly edging up in early trading, though the gains are modest.

Asian markets ended their day with mixed results.

A number of blue-chip companies are reporting quarterly results today, including General Electric (GE) and Procter & Gamble (PG). This may have an affect on the Dow.

The Nasdaq had another minor distribution day yesterday as the index closed lower (-0.3%) with higher volume.

That puts the Nasdaq distribution day count at 6, while the S&P 500 is at 5. Still, the market’s official status remains as “uptrend”.

In yesterday’s afternoon update I stated that we had no clear buyable breakouts, then soon after, our Broadcom Limited (AVGO – Nasdaq) which was already trading above its TRIGGER PRICE, confirmed a BUY signal by default when its daily volume finally cleared the TRIGGER VOLUME of 4,140,450 shares. That gave us a BUY PRICE of $185.42.

Going forward, of course, any above average volume declines would be the first thing to watch out for. A break back into the recent base would be a concern, and we are going to put our 1st SUPPORT at the 50-day moving average, which is currently at $175.38.

The last BUY we had before AVGO was on last Friday the 13th in AngioDynamics, Inc. (ANGO – Nasdaq) (P/L: -6.7%) from our TrendLine SetUps WatchList.

Since the breakout, shares have drifted lower on below average volume, yet they have not triggered a clear sell signal.

As of Thursday’s close, this selection sits at $16.81 with a perfect pullback and “soft landing” to support of the 50-day moving average.

A move up from there with volume would be most ideal, as such would negate the recent weakness. However, any further declines would be tough to tolerate, with a break below the 50 DMA ($16.81) a clear technical violation.

A final support area is at the previous lows at $16.

That is near-enough to our MAX STOP LOSS GUIDE which is at $16.56.

My standard formula for MAX STOP LOSS GUIDE: (BUY PRICE x 0.92)

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

SLF was removed from the Technical SetUps WatchList as it did not properly breakout with the required volume. Shares have now fallen back into their base.

At this point, we have 9 stocks on our Technical SetUps WatchList and another 11 on our TrendLine SetUps WatchList. There are still not any stocks which meet the strict criteria for the High-Ranked Leaders WatchList.

Of those 20 set ups, ORBK looks the most poised to break out today.

A breakout from here would have little resistance/overhead supply in the way of any further possible gains. That is why we buy stocks making new highs.

Any trading above the stock’s TRIGGER PRICE while the day’s volume is at least on pace to make the posted TRIGGER VOLUME would have this selection confirming a default technical BUY signal up to the MAX BUY PRICE.

TRADING CRITERIA
SYMBOL
LAST
50 DAV
ADDED TO WATCH LIST
TRIGGER PRICE
MAX BUY PRICE
% FTP
ORBK
$33.94
246,000
01/19/17
$34.45
$36.17
-1.48%

If ORBK does become a BUY, the stock’s TRADING CRITERIA will be updated to show our 1st SUPPORT, 2nd SUPPORT and MAX STOP LOSS GUIDE.

In the event of a pull back, we have sound support which is offered by the 50-day moving average, currently at $32.29 and just -5% below Thursday’s close.

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Major Averages Well Off of Mid-Day Highs – No New BreakOuts

3:15 PM – The major averages are trading well off of their mid-day highs as we approach the final 30-minutes of Tuesday’s session.

The Dow is sitting with modest declines as the Nasdaq is positive with not a down day yet in 2017.

We have no new breakouts today.

Our latest breakout, INCY is adding a bit to yesterday’s solid gains.

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

Previous TrendLine BreakOuts with noteworthy action today are…

Shares of TCB are making some gains today (+1.5%) yet volume is about average in afternoon trading.

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

There are some nice above average volume gains in TSEM to new multi-year highs today.

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

Shares of REGI are at the 200-day moving average. Any trading significantly below there, or a close below there ($9.15), would be the final SELL signal.

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

After some nice price progress yesterday of +1.7%, shares of MPWR are holding up today.

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

NTES closed above the 50-day moving average yesterday, and as noted that was technically significant. Today shares are making continued gains of +2%.

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

Shares of RTEC are holding up today after they had a gap down yesterday as the company received a meaningless downgrade from a brokerage firm.

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

MXL is holding on to the nice gains made yesterday.

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

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Major Averages Continue Higher – No New BreakOuts

2:33 PM – The Dow continues to toy with those who are fascinated with the potential of a historic break above the 20,000 milestone. The blue chips came within a fraction of breaking above there this afternoon.

We still have no new buyable breakouts.

As far as our previous breakouts/current holdings…

After some solid price progress Wednesday with volume conviction (+41%), shares of ARRS are lower again today, yet are still near new highs as volume is much lighter.

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

There is some quiet trading today in NTES after some nice above average gains yesterday of +4% with volume conviction (+87%).

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

After three consecutive days of above average volume gains, RTN continue higher today, yet volume is light.

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

Our VMW is making some decent price progress today of +2.4% as shares move up for support of the 50-day moving average ($79.26), yet volume is below average.

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

SCHW is posting some new highs today, yet volume is below the normal rate.

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

On the downside…

Shares of REGI are down again today another -1.5% with some intra-day trading just below the 50 DMA.

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

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Markets Mixed – No New Buyable BreakOuts

3:15 PM – Stocks in general are pulling back on Thursday, with steep declines in the financial sector and major fashion retailers.

There was also some mixed data on jobs released this morning which has raised concerns a day before the closely watched December employment report due tomorrow, and that is weighing on the market.

We have no new buyable breakouts again today.

However, there are several of our previous TrendLine Breakouts with some decent action today, such as…

NTES with nice above average gains of +4% with volume conviction as shares move up from the previous lows.

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

We also have COMM as it is holding up near new highs, while shares are NOT extended from support.

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

There is also RTN with now three days of above average volume gains.

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

Our BWP continues slightly higher today after shares pulled back during the latter half of last week to near the 50-day moving average.

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

On the downside…

Shares of REGI are lower today by -2% with the lows very near support of the 50 DMA.

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

TCB has some considerable declines of -2.3%, yet volume is only about the normal rate. There is no solid support until the 50-day, which is at $17.30 or -12% below here.

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

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Futures Off – Two Stocks Look Poised to Trigger a Buy Signal

The Dow Jones Industrial Average, the S&P 500 and the Nasdaq all rallied again on Wednesday.

This morning, markets are muddling along right now as U.S. stock futures are looking a bit weak.

Trading in European markets is muted.

Asian markets closed the day with mixed results.

Most importantly…

I added CPRT to the Technical SetUps WatchList this morning as shares are building a base at new highs and above the 50-day moving average.

The company has a good fundamental history as far as earning are concerned. The ranks are solid except for the group rank which is lagging a bit.

There was some bullish technical action yesterday as shares traded +1.3% higher with a +44% increase in volume.

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

I set the stock’s TRIGGER PRICE at $57.08. Any trading above there while volume is on pace to be at least +50% above normal would have this selection confirming a BUY signal up to the MAX BUY PRICE of $59.93. Please see the table below for detailed trading criteria.

Also, GHL from the TrendLine SetUps WatchList continues to trade above its TRIGGER PRICE of $29.20. Any gains from here with the required volume would be a BUY signal up to the MAX BUY PRICE of $30.66.

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

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

Major Averages Sit with Modest Losses – Our Stocks Hold up

1:02 PM – The major averages are sitting with modest losses this afternoon in light pre-holiday trading.

Again, we have no new breakouts today, and also none of our stocks are triggering SELL signals.

Most are quiet as we close out the final session of 2016 and head into a 3-day weekend.

A few of our previous TrendLine BreakOuts with noteworthy action include…

MPWR as now the three days of declines put shares down to the 50-day moving average. We will see how shares behave there as they have basically ignored this technical level before.

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

After some considerable declines on Wednesday 0f -2.5%, shares of BWP lost another -1.9% on Thursday, and continued lower Friday morning. This puts shares at previously noted support which is first at the downward trendline

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

Shares of VMW remain at support of the 50-day moving average ($78.74). A close below there would be a sell signal.

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

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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

 


 

After Market Pulls Back From Record Levels Futures Are Higher

After a considerable pullback on Wednesday, followed by some continued declines on Thursday, this morning futures are modestly higher as we head into the final trading session of 2016.

It’s the last chance the Dow has to hit the 20,000 level before the year ends. The index reached its highest ever level of 19,988 on 12/20. It’s currently sitting at 19,820, which is nearly +14% for the year.

The S&P 500 which is +10% and Nasdaq up +8.5% for 2016 are also just a touch below their all time records.

European markets are lower in early trading.

Asian markets closed the day with mixed results.

Russian stock markets were mixed after President Obama issued sanctions against the country. Those markets were among the best performing in the world this year.

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

All of the watch lists are included in this morning report.

U.S. bond market set to close at 2 p.m.

Markets are closed on Monday.

I wish everyone a safe and fun-filled New Year’s celebration.

As regular reader know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases and which looked poised to breakout that day.

The buy candidates that I find are then assigned their own specific trading criteria such as a Trigger Price and Max Buy Price and then each is listed in our – Stock WatchList: Morning Update and emailed out to subscribers, before the market opens for trading.

You can now receive a free copy of my Stock WatchList: Morning Update report – a concise watch list of high EPS and RS ranked stocks right in your email inbox.

LEARN MORE HERE

 

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