– 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.
8:00 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]A[/dropcap]fter what was considered a turn-around week the previous week, the major averages continued to make gains for most of last week.
QUOTE OF THE DAY:
“Most of us are busy gambling on the most dangerous risk of all—living our whole life not doing what we want on the bet that we can buy the freedom to do it later. ”
– Jake Ducey
With no noteworthy developments on the U.S./China trade front, investors’ attention was redirected to the start of third-quarter earnings season, where the news was largely upbeat.
Throughout the week, we heard from key names such as American Express, United Health, JPMorgan, Wells Fargo, Citigroup, Goldman Sachs, Coca-Cola, Schlumberger, Ericsson, Honeywell, Philip Morris, Morgan Stanley, E*Trade, Bank of America, PNC Bank, IBM, and Netflix.
Netflix jumped more than +10% in after-hours trading. UnitedHealth Group was higher after beating forecasts, helping the health-care sector, while banks like reported better-than-expected numbers, and also signaled that the U.S. economy might not be heading for a recession after all.
Stocks were also buoyed after U.K. and European Union leaders announced a tentative agreement on Brexit.
Technically, things were looking good until Friday’s sell-off from the previous highs of late-September. The Dow Jones was also weighed down heavily that day by Boeing, IBM, and Johnson & Johnson which put more than a -200 drag on the index.
Meanwhile, Federal Reserve Vice Chairman Richard Clarida said the economy is facing “evident” risks, while inflation remains muted.
The blue-chips did manage to close above the 27,000 line on Tuesday for the first time since they fell below there in late-September. However, they ended the week at 26,770, with a weekly loss of –46 points or –0.17%.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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BREAKOUT UPDATE:
All “BreakOut Alerts!” for the past 30-days.
For those who bought these breakouts, support levels have been updated.
Fidelity National Financial Inc (NYSE – FNF)
Fidelity National Financial, Inc., a Fortune 500 company, is the United States’ largest provider of commercial and residential mortgage and diversified services.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| FNF | $45.45 | 9/27 | $45.50 | 10/18 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE | % FR TRIG PR |
| $47.78 | $45.00 | 50 DMA | $41.86 | -0.11% |
FTI Consulting, Inc. (NYSE – FCN)
FTI Consulting is a business advisory firm headquartered in Washington, D.C., United States. FTI is one of the largest financial consulting firms in the world and consistently ranks as one of the top global management consulting firms.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| FCN | $112.02 | 10/10 | $111.73 | 10/15 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
% FR TRIG PR |
| $117.32 | $109.00 | 50 DMA | $102.79 | +0.26% |
Texas Instruments Incorporated (NASDAQ – TXN)
Texas Instruments Incorporated is an American technology company that designs and manufactures semiconductors and various integrated circuits, which it sells to electronics designers and manufacturers globally. Its headquarters are in Dallas, Texas, United States.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| TXN | $129.46 | 10/10 | $131.02 | 10/11 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
% FR TRIG PR |
| $137.57 | 10 DMA | 50 DMA | $120.54 | -1.19% |
Teledyne Technologies Incorporated (NYSE – TDY)
Teledyne Technologies, Inc. is an American industrial conglomerate primarily based in the United States but with global operations.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| TDY | $319.92 | 10/10 | $324.61 | 10/10 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
% FR TRIG PR |
| $340.84 | 50 DMA | $300.00 | $298.64 | -1.44% |
Rexford Industrial Realty Inc (NYSE – REXR)
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| REXR | $46.44 | 10/6 | $45.02 | 10/7 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
% FR TRIG PR |
| $47.27 | 10 DMA | 50 DMA | $41.42 | +3.15% |
Apartment Investment and Mgmt Co (NYSE – AIV)
Apartment Investment and Management Company is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country’s largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| AIV | $54.48 | 9/19 | $52.59 | 10/3 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT | 2nd SUPPORT | MAX STOP LOSS GUIDE | % GAIN/LOSS |
| $55.22 | $54.00 | $52.00 | $48.38 | +3.59% |
Brookfield Renewable Partners LP (NYSE – BEP)
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, co-generation, and biomass sources.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| BEP | $42.65 | 9/19 | $38.04 | 9/23 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT | 2nd SUPPORT | MAX STOP LOSS GUIDE | % GAIN/LOSS |
| $39.94 | $38.00 | 50 DMA | $35.00 | +12.12% |
NOTE: These stocks were on my Technical SetUps WatchList. You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.
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BuyingBreakOuts.com
“Morning High-Ranked Stock Watch List & Intra-Day BreakOut Alerts”
Start Receiving Our Free BreakOut Alerts
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WATCHLIST UPDATE:
No matter the market, I always have a current watch list ready. While reviewing over 235 charts this weekend, I added 6 new stocks to our watch lists. There are now 18 stocks that we will be watching for a traditional break out to new highs.
Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
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About the Founder: James F. Taulman – James served as Editor-in-Chief of the first 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. Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
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Disclaimer: James Taulman is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The independent contractors and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice.