– James F. Taulman, former Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.
TUE 1/22 9:00 AM – BREAKOUT UPDATE
UPDATE: Dorman Products, Inc. (DORM – Nasdaq)
NOTE: Dorman (along with CIEN see here) is one of the latest breakouts from my Technical SetUps WatchList which is emailed out each market morning at 8AM in my Stock WatchList Morning Update. Learn more here.
This holding continued to trade in its uptrend this past week. It remains highly ranked and there are no real technical concerns to note as of Friday’s close.
| SYM | LAST | ADDED TO WATCH LIST |
BUY DATE |
BUY PRICE |
| DORM | $93.39 | 12/30/18 | 1/07/18 | $91.42 |
Chart courtesy of stockcharts.com
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE | CURRENT % GAIN/LOSS |
| $95.99 | $91.00 | $86.86 50 DMA |
$84.10 | +2.15% |
As I noted last week – “DORM remains highly ranked and has been trading higher, in a nice steady uptrend, since finding support at its 50-day moving average on 12/10. Great group.”
Although I could raise our 1st SUPPORT to the recent low of the trend line ($92.24), I am going to keep it at $91.00 and pick up the coinciding previous highs of the base for additional support. Our 2nd SUPPORT is automatically raised as the stock’s 50-day moving average line advances.
Any declines from here, especially with volume, would be the first concern.
NOTE: Dorman (along with CIEN see here) is one of the latest breakouts from my Technical SetUps WatchList which is emailed out each market morning at 8AM in my Stock WatchList Morning Update. Learn more here.