James F. Taulman

"Covering High-Ranked Market Leaders for More Than 20 Years"

Category: SSR Page 1 of 3

SUN 3/31: Major Averages Close Strong Quarter – 2 WatchList Additions

This Week’s Sunday Stock Report – 3/31/18

– 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.

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2 BreakOuts This Past Week | 5 Stocks on Our WatchList for the Week

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A

s the 2019 first-quarter ended this week, the U.S. stock market recorded its biggest 1st quarterly gain in about a decade.

The major averages wrapped up the quarter strong on Friday with renewed optimism on the progress of trade talks between Washington and Beijing.

The Q1 rally had been characterized by three factors: a sharp rebound off the Christmas Eve lows, increasing optimism in U.S.-China trade talks, a sharp reversal in the Federal Reserve’s monetary policy stance, and lastly, signs of a global economic slowdown.

For the week, the Dow Jones Industrials netted a gain of +426 points or +1.6% to close at 25928.68. The index is nearing 26,000, and previous highs, more specifically near ~26,200.

The blue-chips continue to trade in a range just below their previous highs and above the 50-day moving average. This could be considered healthy technical action and a digestion of the first-quarter gains of +11%.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The Nasdaq Composite gained +1.3% on the week and booked its biggest 1st quarterly gain (+16%) since 2012.

Since breaking above the November highs in mid-march, the index has remained above that level.

The November highs of 7572 would be a point to watch during a potential pullback with the round-750o and coinciding moving average offering more significant support.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The S&P 500 index added +1.2% this week closing strong on Friday with some above average volume gains. For the quarter, the bellwether notched its best start to a year since 1998.

Of late, the index has basically held support of the round-2800.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The distribution day count as I understand is now at on Nasdaq, and 7 on S&P 500. Even with this week’s bullish action, the uptrend remains officially – “Under Pressure”.

We had another 2 breakouts from last week’s watch list (CHDMITK). Both closed the week with modest gains of +2.4% and +1.8% respectively. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added new stocks to our weekly watch list. (see below)

We currently have a total of stocks which we will be watching for a traditional breakout to new highs. (see below) 

An announcement of a completed comprehensive trade deal with China could be a catalyst to move the market higher and spring fresh breakouts. Now it the time to have your personal watch list ready.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

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BREAK OUT UPDATE: 

This past week we had breakouts from our weekly watch list of 6 stocks.

Breakouts continue to be volatile, and last week’s theme continues this past week – negative reversals.

for now a second week.  all have basically negatively reversed (several on their breakout day) and closed off of their breakout highs.

Here is an update on all of this week’s breakouts.

SYM LAST ADDED TO
WATCH LIST
BREAKOUT
PRICE
BREAKOUT
DATE
MAX BUY
PRICE
CURRENT %
GAIN/LOSS
CHD $71.23 1/23/19 $69.59 3/28/19 $73.07 2.36%
MITK $12.24 3/24/19 $12.02 3/25/19 $12.62 1.83%

1 – Church & Dwight Co., Inc. (CHD -NYSE)

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
CHD $71.23 1/23/19 $69.59 3/28/19 $73.07

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS
GUIDE
CURRENT % GAIN
/LOSS
$70.00 $67.50 $73.07 +2.36%

Questions? – Click here.

2 –Mitek Systems, Inc. (MITK – Nasdaq)

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
MITK $12.24 3/24/19 $12.02 3/25/19 $12.62

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS
GUIDE
CURRENT % GAIN
/LOSS
$12.00 50 DMA
($11.19)
$11.61 +2.36%

 

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SSR 3/24: Major Averages and Recent BreakOuts Negatively Reverse

This Week’s Sunday Stock Report – 3/24/18

– 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.

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5 BreakOuts This Past Week | 5 Stocks on Our WatchList for the Week

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After a solid up week during the previous week, the major averages clearly struggled this past week and were certainly volatile.

Coming off the heels of a strong close the previous Friday, the market looked poised to continue the advance Monday, yet the day’s gains became modest and somewhat disappointing.

By Tuesday afternoon, we were already looking at a negative reversal on 2 of the 3 major averages, followed by continued declines on Wednesday.

We got a brief boost on Thursday as the Federal Reserve’s March meeting showed the central bank had trimmed its projections for interest rates this year from two to none.

Those gains were short-lived as all three major indexes fell sharply into negative territory on Friday after a reliable recession indicator from the bond market turned red. The yield on the 10-year Treasury note fell below the yield on the 3-month T-bill.

Stocks closed that day – their worst day in over 2 ½ months  – with volume on the NYSE and Nasdaq was higher than Thursday’s levels, marking another distribution day.

For the week, the Dow Jones Industrials fell -1.3%.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The Nasdaq posted its second-worst point drop in 2019, closing down -196 on Friday’s session and-0.06% on the week, well off of the mid-week highs.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The S&P 500 lost -0.8% this past week, closing below the previous highs.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The distribution day count as I understand stands at 5 on Nasdaq, and 7 on S&P 500. The uptrend is officially – “Under Pressure”.

The indices do remain above their respective 50 and 200 day moving averages, and those will become key areas to watch with any further technical deterioration.

As I always say – let your breakouts be your guide, and we had 5  breakouts from last week’s watch list, all have basically negatively reversed (several on their breakout day) and closed off of their breakout highs.

Four of the five are under their respective TRIGGER PRICE, with the only one above (WING) but by only +0.06%.

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added 4 new stocks to our weekly watch list.

We currently have a total of stocks which we will be watching for a traditional breakout to new highs. (see below) However, let’s keep in mind that with the broader market’s current condition – now is not the best time to be buying new breakouts. Now is the time to focus your attention on previous breakouts which are of course your current holdings. Breaks of support in individual issues are sell signals.

Questions? – Click here.

The last week of March will be a very busy one with regard to economic releases, with key reports coming out from several sectors.

READ MORE HERE: Don’t Panic Over Inverted Yield Curve; Here’s The Key Chart For Dow Jones

READ MORE HERE: When Will The Dow Jones Or Nasdaq Show A Major Stock Market Top? Here’s The Easy Way To Find Out

As we always say – we let our breakouts be our guide, and we had 5  breakouts from last week’s watch list. (see below)

 

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

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BREAK OUT UPDATE: 

This past week we had 5 breakouts from our weekly watch list of 6 stocks.

Here is an update on all of this week’s breakouts.

SYM LAST ADDED TO WATCH
LIST
BREAK
OUT PRICE
BREAKOUT
DATE
MAX BUY PRICE  CURRENT % GAIN/
LOSS
MPW $18.54 3/17/19 $18.70 3/21/19 $19.64 -0.86%
SBUX  $71.96 3/17/19 $72.28 3/20/19 $75.89 -0.44%
GIB $67.45 3/7/19 $68.27 3/19/19 $71.68 -1.20%
WING $72.36 2/27/19 $72.32 3/19/19 $75.94 0.06%
NICE $117.00 3/17/19 $119.35 3/18/19 $125.32 -1.97%

1 – Medical Properties Trust, Inc. (MPW -NYSE)

This is our most recent breakout as shares cleared their TRIGGER PRICE of $18.70 mid-session, Thursday.

The stock continued trading above there until about mid-day Friday when it struggled along with the broader market (Dow -400).

This breakout closed that day at the session lows, just under the TRIGGER PRICE, as volume was lighter the average.

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
MPW $18.54 3/17/19 $18.70 3/21/19 $19.64

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st SUPPORT 2nd SUPPORT MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$18.50 50 DMA
($17.74)
$17.06 -0.86%

Shares now are basically at our 1st SUPPORT of the previous lows as of Friday’s close.

We also have near-coinciding support of the 50-day moving average, currently at $17.94.

A break below there would be a serious technical violation and a SELL signal.

Questions? – Click here.

2 –Starbucks Corporation (SBUX – Nasdaq)

This leader had been featured several times over the past months as it was first published in our special report on Oct., 14th – “High-Ranked Pullbacks to Support”.

On Jan., 20th it was added to our TrendLine SetUps WatchList where it broke out the following day, before getting in a solid uptrend to new all-time highs.

Shares then consolidated there, above $70, and built another base to buy off of. This stock was then added to the Technical SetUps WatchList, where it broke out on Wednesday.

However, it only traded above the TRIGGER PRICE of $72.28 very briefly that day (<5 mins).

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
SBUX $71.96 3/17/19 $72.28 3/20/19 $75.89

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st SUPPORT 2nd SUPPORT MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
50 DMA
($68.79)
N/A $66.20 -0.44%

This breakout (like many this week) did close its breakout day well off of the session highs.

Shares did manage to trade back above their TRIGGER PRICE Thursday afternoon, and again briefly mid-day Friday.

SBUX is holding up relatively well, and it is now trading in a nascent uptrend staring with the lows on 3/8.

Considering our 1st SUPPORT is ~4% below Friday’s close, any above average volume declines with a break below that upward trendline would be a cause for some concern, especially if the broader market can not negate the recent bearish action.

Questions? – Click here.

3 – CGI Inc (GIB – NYSE)

This breakout only briefly traded above its TRIGGER PRICE of $68.27 near the open on Tuesday’s trading.

Then ths stock went on to negatively reverse the breakout day as it closed with a loss.

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
GIB $67.45 3/7/19 $68.27 3/19/19 $71.68

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st SUPPORT 2nd SUPPORT MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
50 DMA
($66.37)
$65.00 $62.05 -1.20%

There may be some initial areas of support at most recent lows, and the coinciding round-$67. At the least, this would be a key area to watch, on the downside.

Interested investors could still add this stock to their watch list, with the current TRIGGER PRICE of $68.27.

With that being said, I am putting our official 1st SUPPORT at the 50-day moving average, currently at $66.37.

Barring a new breakout, this stock looks likely to test there eventually.

Questions? – Click here.

4 – Wingstop Inc. (WING – Nasdaq)

This leader nearly broke out on Monday as price progress that day was rather ideal with shares basically making a steady climb, then closing the breakout day near the highs, yet missed making our TRIGGER PRICE by <.20 cents.

The stock then did officially trade above its posted TRIGGER PRICE of $72.32 very briefly on Tuesday.

Like several others, shares closed the breakout day lower.

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
WING $72.36 2/27/19 $72.32 3/19/19 $75.94

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st SUPPORT 2nd SUPPORT MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$71.00 50 DMA
($67.86)
$66.57 +0.06%

The stock managed to climb higher throughout the week until hitting its peak Friday morning, before pulling back and closing the week just slightly above the TRIGGER PRICE.

Going forward, a break below the stock’s upward trendline would be the first concern.

There is some support near $71, then below there is the 50-day moving average, currently at $67.93, if things were to get that ugly.

Questions? – Click here.

5 – Nice Ltd (NICE – Nasdaq)

This was one of the few, if not the only breakout we’ve had recently with any real increase in volume.

Shares gapped open on Monday morning and traded above their TRIGGER PRICE of $119.35 while volume was +62% above normal.

SYM LAST ADDED
TO
WATCH LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
MAX
BUY
PRICE
NICE $117.00 3/17/19 $119.35 3/18/19 $125.32

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st SUPPORT 2nd SUPPORT MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
50 DMA
($112.78)
200 DMA
($110.75)
$107.64 -1.97%

The following day shares did pull back slightly, yet volume was half the regular rate, and this action was not too much of a concern.

Shares continued to modestly drift lower through mid-week, until Friday when there was a (non-news) gap down as volume remained below average.

An eclipse of Friday’s low would be a serious concern as there is no real support until the 50-day moving average, which is currently at $112.78.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 3/17: Rally Holds – 2 BreakOuts, 3 WatchList Additions

This Week’s Sunday Stock Report – 3/17/18

– 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.

_____________________________________

2 BreakOuts This Past Week | 6 Stocks on Our WatchList for the Week

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After suffering its worst week of 2019 last week, the market came roaring back this past week.

Although the troubles of Boeing (BA) weighed heavily on the Dow, the Nasdaq and the S&P 500 closed at 5-month highs. Investors dismissed a batch of data that was less-than-stellar and instead focused on progress with the China trade talks. The latest moves by Chinese authorities were taken as an optimistic sign that a U.S.-China trade deal might be getting closer.

Thanks to this spectacular post-Christmas rally, the benchmarks are now only a few percentage points from their all-time highs.

Major global markets are enjoying a boomlet in the first three months of 2019, underpinned at least in part by central banks of developed countries that have expressed reluctance to unwind easy-money monetary policies that have become a feature of global economies in the aftermath of the 2008-2009 financial crisis.

The technical picture and the market internals improved significantly this past week, following two weeks of deterioration.

For the week, the Dow rose +1.6%, making its best weekly gain since Feb. 15th.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The Nasdaq rallied +3.8%, its strongest week since Dec. 28th. The tech-centric index broke above resistance of some previous highs which it was turned back from the week prior.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

The S&P 500 gained +2.9% for the week. Its biggest weekly gain since Nov. 30th. The bellwether had just nearly cleared resistance of its previous highs.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

As we always say – we let our breakouts be our guide, and we had 2 breakouts from last week’s watch list. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added new stocks to our weekly watch list.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

This past week we had 2 breakouts from our weekly watch list of 5 stocks.

Here is an update on all of this week’s breakouts.

SYM   LAST  ADDED TO WATCH
LIST   
BREAKOUT
PRICE    
BREAKOUT
DATE    
MAX BUY PRICE   CURRENT % GAIN/
LOSS
NMIH $25.73 3/10/19 $25.07 3/11/19 $26.32 +2.63%
O $71.24 3/7/19 $70.58 3/11/19 $74.11 +0.94%

 

1 – NMI Holdings Inc. (NHMI – Nasdaq)

After first breaking out from our TrendLine SetUps in January, this stock made a considerable run to new all-time highs where it has recently consolidated a bit and built a new base. I then added it to the Technical SetUps WatchList on 3/10 in last Sunday’s report.

Shares broke out Monday morning in fine fashion, with a volume-backed advance as the stock cleared our posted TRIGGER PRICE of $25.07 by 11 AM.

SYM LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
NMIH $25.73 3/10/19 3/11/19 $25.07

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$26.32 $25.00 $24.00 $23.06 +2.63%

Going forward, of course, any above average volume declines would be the first concern.

Initial support is the highs of the previous base at the round-$25.

A break down below there would be a technical violation.

2 – O Realty Income Corp. (O – NYSE)

This stock broke out for us on Monday, although with a lack of conviction as volume was off by -17% that day.

There was some continued follow-through in price on Tuesday, yet again the turnover remained below average.

On Wednesday, there were additional gains at the open, yet those did not hold and be the end of the session shares closed with s slight loss, actually making a negative reversal. Thursday’s gains did little to negate that bearish action as volume continued to lack buy side conviction.

SYM LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
O $71.24 3/7/19 3/11/19 $70.58

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$74.11 $70.00 50 DMA
($67.69)
$64.93 +0.94%

Add to that, Friday’s above average volume declines which certainly increased our concerns. This stock should be watched closely Monday morning for any continued deterioration.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 3/10: Current Rally-Run Weakens – No New BreakOuts

This Week’s Sunday Stock Report – 3/10/18

– 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.

_____________________________________

0 BreakOuts This Past Week | 5 Stocks on Our WatchList for the Week

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After some signs of initial weakness during the previous week, the market entered its deepest correction of 2019 with the Dow being down -3% mid-day Friday.

The fact that a -3% dip qualifies for that shows just how strong the advance of the past two months has been.

The major averages, closed lower every day this week as several issues weighed on investor’s sentiment.

We had continued uncertainty over a U.S.-China trade deal and the European Central Bank, which announced new measures to support a slowing economy on Thursday. On Friday, there was a lackluster jobs report and a sharp drop in Chinese exports which heightened worries around the global economy’s overall health.

The Dow Jones lost -2.2% on the week and posted its lengthiest slide since an eight-session skid that ended June 21st. Next support for the blue chips is at the 50-day moving average, currently at 24,809.

Chart courtesy of stockcharts.com

For the week, the Nasdaq declined -2.5%, marking its weakest stretch since April 25th. The tech-laden index pulled back from noted resistance of some prior highs, then quickly sliced its 200-day moving average.

Chart courtesy of stockcharts.com

The S&P 500 index fell -2.2% for the week, as it was turned back from a previously noted area of resistance of the former highs. This was the bellwether’s worst string of losses since November 14th.

Chart courtesy of stockcharts.com

All three of the benchmarks remain well north of their rising 50-day moving averages.

Also of note, the Dow Jones Transportation Average has fallen in 11 consecutive sessions. This is the lengthiest series of losses since 1972. The index is a proxy for the health of the overall economy, and the stumble comes amid increased fretting over the health of the global economy.

As I stated here last week:

  1. The Nasdaq may now be facing some resistance of its previous highs/lows.
  2. The S&P 500 – 2815 is the previous highs and that level now deserves watching.
  3. The market’s current rally-run has been impressive, but could possibly be starting to consolidate here.

We now have 6 distribution days on the S&P 500, and 5 on the Nasdaq.

In a mid-week update to Portfolio Members, I stated – if there is now clearly a sharp increase in the number of distribution days, that’s not good for bulls.

The general rule is – that five or six distribution days over a period of about four weeks can be a signal that the market’s uptrend is weakening.

Appropriately so, we had 0 breakouts from last week’s watch list, as this is not an ideal time in a rally cycle to be buying fresh breakouts.

FROM IBD: Stock Market Correction Or Minor Pullback?

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added new stock to our weekly watch list. I’ll continue running screens all week. If anyone is looking for anything specific, long or short, please let me know.

We now have a total of stocks which we will be studying for a traditional breakout to new highs. (see below)

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

This past week we had 0 breakouts from our weekly watch list.

Here is an update on all breakouts from 2019.

STATS: All 2019 BreakOuts From the Technical SetUps WatchList

SYM  ADDED TO
WATCH
LIST
BREAKOUT
DATE
BREAKOUT
PRICE
FRIDAY’S
(3/8)
CLOSE
PRICE
CURRENT %
GAIN/
LOSS
CRM 2/24/19 2/28/19 $163.67 $155.06 -5.26%
SRE 2/24/19 2/26/19 $120.10 $122.30 +1.83%
TMO 2/24/19 2/25/19 $252.61 $249.85 -1.09%
FE 2/6/19 2/21/19 $39.98 $40.89 +2.28%
HSY 2/14/19 2/20/19 $110.40 $111.24 +0.76%
TMUS 1/23/19 2/15/19 $71.04 $70.65 -0.55%
ABT 12/12/18 2/12/19 $75.02 $76.63 +2.15%
ORLY 12/30/18 2/7/19 $363.30 $364.10 +0.22%
DG 1/23/19 2/7/19 $117.34 $118.71 +1.17%
TTD 1/23/19 2/4/19 $149.10 $194.35 +30.35%
DATA 1/27/19 2/4/19 $131.92 $124.10 -5.93%
TEAM 1/27/19 2/1/19 $100.10 $104.25 +4.15%
GIB 1/27/19 2/1/19 $66.63 $65.88 -1.13%
LLY 12/30/18 1/31/19 $119.94 $126.70 +5.64%
NOW 1/6/18 1/30/19 $192.26 $233.95 +21.68%
STOR 1/27/19 1/29/19 $31.15 $32.29 +3.66%
CYBR 1/23/19 1/28/19 $81.98 $106.83 +30.31%
CIEN 12/30/18 1/7/19 $35.14 $39.01 +11.01%
DORM 12/30/18 1/7/19 $91.42 $82.91 -9.31%

CHARTS: All 2019 BreakOuts From the Technical SetUps WatchList

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Questions? – Click here.

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Questions? – Click here.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Questions? – Click here.

Chart courtesy of stockcharts.com

Chart courtesy of stockcharts.com

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 3/3: 2019 Rally Continues – 3 New BreakOuts

This Week’s Sunday Stock Report – 3/3/18

– 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.

_____________________________________

3 BreakOuts This Past Week | 2 Stocks on Our WatchList for the Week

_____________________________________

T

he 2019 rally continued for another week, although the Dow did close the week slightly off.

The Dow Jones Industrial Average closed lower by just -0.1%, which was just enough to snap a nine-week winning streak, the longest weekly run since May of 1995.

Chart courtesy of stockcharts.com

The Nasdaq closed higher for the 10th consecutive week, adding another +0.9% and remained above its 200-day moving average. It may now be facing some resistance of its previous highs/lows.

Chart courtesy of stockcharts.com

For the week, the S&P 500 gained +0.4%, marked its first close above the psychologically 2,800 level since Nov. 8th. Pundits point out that level has proved a key point of resistance over the past several trading sessions. As I noted last week, 2815 is the previous highs and that level now deserves watching.

Chart courtesy of stockcharts.com

The market’s current rally-run has been impressive, but could possibly be starting to consolidate here. That would actually be ideal, considering the advance from the Christmas Eve lows.

In the past 11 weeks, the Dow Jones Industrials and the S&P 500 have advanced +20%, while the Nasdaq Composite has jumped +25%.

We had 3 breakouts from last week’s watch list. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added 1 new stock to our weekly watch list. I’ll continue running screens all week. If anyone is looking for anything specific, long or short, please let me know.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

As of Sunday night, the Dow, Nasdaq, and S&P futures are up solidly on new reports that a trade deal with China is very close.

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

BREAK OUT UPDATE: 

This past week we had another breakouts from our weekly watch list.

SYM LAST ADDED TO WATCH
LIST
BREAKOUT
PRICE
BREAKOUT
DATE
MAX BUY PRICE CURRENT % GAIN/
LOSS
CRM $164.53 2/24/19 $163.67 2/28/19 $171.85 +0.53%
SRE $121.26 2/24/19 $120.10 2/26/19 $126.11 +0.97%
TMO $264.06 2/24/19 $252.61 2/25/19 $265.24 +4.53%

1 – Salesforce.com, Inc. (CRM – NYSE)

This leader just broke out of our watch list on Thursday with an +18% increase in volume.

Shares opened strongly that morning, and traded above our TRIGGER PRICE of $163.67, yet then quickly sold off. By 10AM this stock was trading with a loss on its breakout day. From those early lows, shares traded to new highs at mid-day, then pulled back again to close the session two cents below the TRIGGER PRICE.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
CRM $164.53 2/24/19 2/28/19 $163.67

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$171.85 $163.50 50 DMA
($148.81)
$150.57 +0.53%

There were some additional gains on Friday with the same +18% increase in turnover.

We are going to put our 1st SUPPORT at the highs of the previous base, near $163.50. Below there we have the 50-day moving average for our next support, currently at $148.81 which is, however, unfortunately -10% below Friday’s close.

What is of most importance is that this stock is going to report earnings on Tuesday afternoon. Investors should expect some volatility around the time of the announcement.

Questions? – Click here.

2 – Sempra Energy (SRE – NYSE)

This was an earnings breakout as the company reported Q4 2018 earnings before the open on Tuesday then shares cleared the TRIGGER PRICE later that afternoon. Volume was surprisingly only +8% above the normal daily rate. Usually, earnings breakout have a considerable increase in turnover.

Shares continued higher each day for the remainder of the week.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
SRE $121.26 2/24/19 2/26/19 $120.10

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$126.11 $118.50 50/200 DMAs
($113.00)
$110.49 +0.97%

Going forward, we can put our 1st SUPPORT at the highs of the previous base, near $118.50.

Our 2nd SUPPORT will be the coinciding 50- and 200-day moving averages, near $113.00.

Questions? – Click here.

3 – Thermo Fisher Scientific Inc. (TMO – NYSE)

This selection was added to our watch list last Sunday and broke out first thing Monday morning, although volume was -25% normal rate. As we have seen, lower-volume breakouts have been working in this rally.

Shares continued to trade higher for the rest of the week, making gains each day.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
TMO $264.06 2/24/19 2/25/19 $252.61

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$265.24 $252.00 50 DMA
($238.54)
$232.40 +4.53%

Our 1st SUPPORT, in this case, is some previous highs near $252.00. Support below there is not until the 50-day moving average at $238.54.

Shares are current rather extended, so any considerable declines, especially with an increase in volume, would be your first concern.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 2/24: Major Averages Close Near Multi-Month Highs – 3 New WatchList Additions

This Week’s Sunday Stock Report – 2/24/18

– 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.

_____________________________________

2 BreakOuts This Past Week | 4 Stocks on Our WatchList for the Week

_____________________________________

The 2019 uptrend continues with all the major averages closing the week at their highest levels since early November.

It was the ninth straight weekly gain for the Dow and the Nasdaq, marking the first time since 1964 that the indexes rose in the first 8 weeks of a calendar year.

The Dow Jones added another +0.57% this past week and is on its longest weekly win streak in more than 2 decades.

The index technically remains in a steady uptrend – breaking above resistance levels – while posting only 1 red price bar early in its ascent.

Chart courtesy of stockcharts.com

The Nasdaq gained +0.74% on the week.

As noted last week – “The tech-laden index still has yet to definitively break above its 200-day moving average.”  This past week the Nasdaq made gains above there early in the week and then closed further above (+0.7%) on Friday, at a new multi-month high.

Chart courtesy of stockcharts.com

The S&P 500 index advanced +0.62% this past week and closed at 2792.67.

As noted here last week – “The next level to watch on the upside remains the round-2800, which is also near some previous highs.” 

The bellwether has been able to just barely break above 2800 three times since the start of the October sell-off, as it never traded as high as 2815. (see chart)

Chart courtesy of stockcharts.com

The fuel behind this current rally-run can be attributed to the softening from the Federal Reserve, who effectively put its interest-rate policy on hold.

This week, investors had continuing hopes for a trade deal between the U.S. and China which bolstered market optimism.

The market remains in a confirmed uptrend with only 1 distribution day on the Nasdaq and just 2 on the S&P 500.

We had breakouts from last week’s watch list. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added new stocks to our weekly watch list.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

BREAK OUT UPDATE: 

This past week we had another breakouts from our weekly watch list.

SYM  LAST ADDED TO WATCH
LIST
BREAKOUT
PRICE 
BREAKOUT
DATE 
MAX BUY PRICE CURRENT % GAIN/
LOSS
FE $40.72 2/6/19 $39.98 2/21/19 $41.98 +1.85%
HSY $110.22 2/14/19 $110.40 2/20/19 $115.92 -0.16%

 

1 – FirstEnergy Corp. (FE – NYSE)

This stock had been building a nice base as it kept trading up to the $39s, then pulling back while wedging higher, not making any new lows (BLUE-DASHED LINE)

Shares broke out on Thursday after the company announced earnings on Tuesday with results that beat Wall Street expectations.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
FE $40.72 2/6/19 2/21/19 $39.98

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$41.98 $39.50 50 DMA
($38.21)
$36.78 +1.85%

There were some very decent follow-through gains on Friday and a close at the session highs and a new multi-year high. Volume, however, was -31% below the average on the day.

The company is highly ranked, except for the EPS rank which is lagging along with the company’s fundamentals.

This is more of a technical play, and going forward  – we would be on the lookout for a pullback considering the lack of conviction on the breakout.

Keep in mind – Lower volume breakouts have been working in the latest rally.

I’m going to put our 1st SUPPORT in those previous highs, our 2nd SUPPORT is the 50-day moving average.

Ideally, we would like to see more volume behind any possible gains.

Questions? – Click here.

 

2 – The Hershey Company (HSY – NYSE)

This leader was setting up technically, much like our FE was, as shares kept trading up to the previous highs, then they would pull back, yet still wedge higher.

The stock broke out on Wednesday with a +19% increase in volume.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
HSY $110.22 2/14/19 2/20/19 $100.40

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$115.92 $110.00 50 DMA
($106.35)
$92.37 -0.16%

There were some continued gains on Thursday with a positive reversal as the shares opened with a gap lower, then closed the session +0.47% higher.

The stock did also gap down Friday morning and was not able to manage another positive close.

This puts shares right at our 1st Support of the previous highs, with further support at the 50-day moving average, currently $106.35.

The company does have solid ranks and decent fundamentals. However, any continued declines, especially with an increase in volume, would be a serious concern.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 2/17: Rally Continues, 2 BreakOuts, 3 Stocks on Our WatchList

 This Week’s Sunday Stock Report – 2/17/18

– 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.

_____________________________________

2 BreakOuts This Past Week | 3 Stocks on Our WatchList for the Week

_____________________________________

The 2019 uptrend continues with the Dow Jones and Nasdaq now posting eight straight weeks of gains.

The Dow Jones added another +3% this past week. The index continues trading in a steady uptrend posting only 1 red bar early in its ascent. (see chart below)

Chart courtesy of stockcharts.com

The Nasdaq gained a solid +2.4% on the week.

The tech-laden index still has yet to definitively break above its 200-day moving average, as it did close above there Friday, yet by just 10 points.

Chart courtesy of stockcharts.com

The S&P 500 index added another +2.5% this past week.

After being turned back from its 200-day moving average during the previous week, the index cleared that resistance level on Wednesday.

Chart courtesy of stockcharts.com

We added another distribution day this week. The count still remains low with 1 on the Nasdaq and 2 on the S&P 500.

Still, the major averages should be monitored for any continued distribution days. Both stocks and indexes should be watched closely if any near their respective support levels.

We had 2 breakouts from last week’s watch list. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens and added 1 new stock to our weekly watch list. I will continue screening throughout the week and post any additions. If anyone is looking for any specific setups, long or short, please let me know.

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens, yet did not find any new stocks to add to our weekly watch list. I will continue screening throughout the week and post any additions. If anyone is looking for any specific setups, long or short, please let me know.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

Questions? – Click here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

BREAK OUT UPDATE: 

This past week we had 2 breakouts from our weekly watch list.

SYM  LAST ADDED TO
WATCH
LIST
BREAKOUT
PRICE
BREAKOUT
DATE
MAX BUY
PRICE
CURRENT % GAIN/
LOSS
TMUS $72.05 1/23/19 $71.04 2/15/19 $74.59 +1.42%
ABT $75.25 12/12/18 $75.02 2/12/19 $78.77 +0.31%

 

1 – T-Mobile US, Inc. (TMUS – Nasdaq)

This stock just broke out for us on Friday with a +43% increase in volume.

Shares closed the breakout day at the session high, and at a new all-time high.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
TMUS $72.05 1/23/19 2/15/19 $71.04

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$74.59 $70.00 50 DMA
($66.82)
$65.35 +1.42%

We are going to put our 1st SUPPORT at the round-$70, and our 2nd SUPPORT at the 50-day moving average, which is currently at $66.82.

2 – Abbott Laboratories (ABT – NYSE)

Shares of this selection broke out on Tuesday, however, volume lacked conviction as it was only about average.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
ABT $75.25 12/12/18 2/12/19 $75.02

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$78.77 $73.00 50 DMA
($70.65)
$69.02 +0.31%

The stock did trade somewhat lower on both Wednesday and Thursday on lighter volume, so that was disappointing, but not too much of a concern.

This action was quickly negated with Friday’s gains of +1.7% with a +13% increase in turnover.

Going forward, any above average volume declines would be our first concern as price is more than +6% above the 50-day moving average.

Our 1st SUPPORT will be some previous highs and the round-$73. Below there we have our 2nd SUPPORT at the 50-day moving average, currently at $70.65.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 2/10: Rally Takes a Breather – Latest BreakOuts Struggle to Post Gains

 This Week’s Sunday Stock Report – 2/10/18

– 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.

_____________________________________

4 BreakOuts This Past Week | 4 Stocks on Our WatchList for the Week

_____________________________________

This was the first full week of February trading, and U.S China trade tensions and global growth worries continued to weigh on the markets.

The major indexes tested key levels of support and also ran into resistance this past week.

In the end, the benchmarks managed to post weekly gains, following some late-Friday buying.

The Dow Jones Industrial Average notched a seventh weekly gain in a row.

The index recently broke above, and is now basically holding above, support of the 200-day moving average and the psychologically-25000.

Chart courtesy of stockcharts.com

For the week, the Nasdaq advanced just +0.5% as it was turned back from near-resistance of its 200-day moving average of 7,457.37,

Some support for this index is at the round-7000 and the coinciding 50-day moving average.

Chart courtesy of stockcharts.com

The S&P 500 index closed higher on Friday and avoided a three-day skid.

For the week, the index edged up just +0.1% and is now up +8% year to date.

The bellwether was sharply turned back from what is now resistance of its 200-day moving average, currently at 2742.

Support is at the round-2600 and the near coinciding 50-day moving average, previous lows, and a downward trendline.

Chart courtesy of stockcharts.com

We added a distribution day this week. The count remains low with now 2 on the S&P 500 and still just 1 on the Nasdaq.

Currently, the market continues in a confirmed uptrend. Major averages should be monitored for any continued distribution days. Both stocks and indexes should be watched closely if any near their respective support levels.

We had 4 breakouts from last week’s watch list. (see below)

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens, yet did not find any new stocks to add to our weekly watch list. I will continue screening throughout the week and post any additions. If anyone is looking for any specific setups, long or short, please let me know.

Questions? – Click here.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

BREAK OUT UPDATE: 

This past week we had 4 breakouts from our weekly watch list.

All had trouble making any lasting headway and each closed the week with a loss.

Several of our previous watch list and breakout stocks are highlighted in this recently published IBD article here ->

Netflix, Splunk, ServiceNow Lead List Of New Buys By The Best Mutual Funds

SYM LAST ADDED TO WATCH
LIST
TRIGGER
PRICE
BREAKOUT
DATE
MAX BUY PRICE CURRENT % GAIN/
LOSS
ORLY $360.23 12/30/18 $363.30 2/7/19 $381.47 -0.85%
DG $116.32 1/23/19 $117.34 2/7/19 $123.21 -0.87%
DATA $122.24 1/27/19 $131.92 2/4/19 $138.52 -7.34%
TTD $146.18 1/23/19 $149.10 2/4/19 $156.56 -1.96%

DG and TTD may have been held back by the market downdraft, while
DATA and ORLY were affected by earnings volatility. Further analysis on all 4 is below.

1 – O’Reilly Automotive Inc. (ORLY – Nasdaq)

This was an earnings breakout. Those are most-likely more volatile, as we know.

Shares did break out with a +142% increase in daily volume Thursday on the news.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
ORLY $360.23 12/30/19 2/7/19 $363.30

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$381.47 50 DMA
($344.83)
$333.00 $334.24 -0.85%

There was a quick pullback on Friday with a continued spike in volume. This action could be characterized as earnings announcement related. However, if the above average volume declines continue next week, that would be a serious concern.

There is some support at the round-$350, but if shares pull back to there we could expect a test of the 50-day moving average just below at $344.83, so that is where I will put our 1st SUPPORT. The round-$350 is still an area to watch for an initial break.

Our 2nd SUPPORT will be the previous lows at $330.00.

2 – Dollar General Corporation (DG– NYSE)

Not a convincing breakout as shares cleared the TRIGGER PRICE by just 4 cents for only a very brief time on Thursday.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
DG $116.32 1/23/19 2/7/19 $117.34

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT  
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$123.21 50 DMA
($110.10)
200 DMA
($104.79)
$107.95 -0.87%

There was a slight and quiet pullback the next day.

For now, I am going to have to put our 1st SUPPORT at the 50-day moving average, currently at $100.10. On a breakout to new highs, we can raise the 1st SUPPORT to the high of the base.

From here, gains above the TRIGGER PRICE, especially with volume, would still be buyable.

For those who already may have bought the initial breakout on Thursday, any declines would be a serious concern considering our 1st SUPPORT is more than -5% below Friday’s close.

A breach of $115.00 would be a technical violation with shares falling below a short-term upward trendline (seen on the chart above). That would be the first thing to watch for on the downside before any significant support levels come into play.

 Questions? – Click here.

3 – Tableau Software Inc. (DATA– NYSE)

Was a risky BUY on Monday as the company was expected to report earnings the next day.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
DATA $122.24 1/27/19 2/4/19 $131.92

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT 
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$138.52 $118.00 200 DMA
($108.33)
$121.36 -7.34%

Shares went on to sell off sharply on the news losing nearly -7% after the release.

The good news – the stock did find support near its 50-day moving average and some previous lows ($118 – 1st SUPPORT) and it also made a decent positive reversal on Friday in a down market.

I’m expecting this stock to make a complete recovery from the earnings sell-off. However, any trading below the previous low would be a very serious concern and trigger a SELL signal.

4 – The Trade Desk (TTD– Nasdaq)

Was a very nice, nearly by the book, breakout with on Monday with volume-backed gains above the stock’s TRIGGER PRICE.

SYMBOL LAST ADDED TO
WATCH LIST
BREAKOUT
DATE
BREAKOUT
PRICE
TTD $146.18 1/23/19 2/4/19 $149.10

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE CURRENT % GAIN/LOSS
$156.56 50 DMA
($131.65)
200 DMA
($113.12)
$137.17 -1.96%

Shares added a bit to those gains on Tuesday, before a sharp volume-backed sell-off of -5% on Wednesday which had shares falling back into the base. That is never a good sign for a fresh breakout. Thursday’s action brought further fast-paced declines of -4%.

Although Friday’s gains did help to lessen the loss, they were made on lighter volume, and do not negate this recent weakness.

This stock should be watched closely for any further declines.

A test of the 50-day moving average ($131.65) looks likely, especially if the broader market continues to pull in or weaken.

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 2/3: The 2019 Rally Continues – 6 BreakOuts This Past Week

 This Week’s Sunday Stock Report – 2/3/18

– 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.

_____________________________________

6 BreakOuts This Past Week | 7 Stocks on Our WatchList for the Week

_____________________________________

T

he 2019 rally continued for a 6th straight week as the major averages again booked solid gains.

Throughout the week, the release of corporate quarterly results continued with three dozen S&P 500 components announcing earnings in just one day this week, the busiest week of earnings season.

On Wednesday we had the Fed energize investors when it struck a surprisingly dovish tone on monetary policy.

Then before the bell on Friday, we had a stronger-than-expected January jobs report.

The other big issue on investor’s minds is trade. Market observers were watching developments between the U.S. and China as officials there attempted to forge the framework toward a resolution of tariff disputes in the final day of this round of negotiations.

Thursday marked the end of the month and we officially went from – “the worst Christmas Eve ever” to “the Dows strongest January since 1989.”

For the month the Dow rose +7.2%.

As we previously noted – ” The index has continued to plow through noted areas of resistance.”

This past week the blue-chips broke through 2 more areas of resistance with a break above a downward trendline and also a close above the 200-day moving average.

Chart courtesy of stockcharts.com

The Nasdaq Composite has also closed higher for six straight weeks as it recovered from its first decline of more than -20% since 2011.

It booked its best January since 2001 with a +9.2% monthly gain.

Chart courtesy of stockcharts.com

The S&P 500 index posted its best January since 1987. For the month, the bellwether climbed +7.9%.

Chart courtesy of stockcharts.com

There were several bullish factors to this past week’s rally including the fact that we had 6 breakouts from last week’s watch list of 12 stocks.

The distribution day count remains low with still only 1 on the S&P 500 and just one on the Nasdaq.

Currently, the market continues in a confirmed uptrend.

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This week, I ran my routine stock screens, yet did not find any new stocks to add to our weekly watch list. I will continue screening throughout the week and post any additions. If anyone is looking for any specific setups, long or short, please let me know.

Questions? – Click here.

We now have a total of stocks which we will be watching for a traditional breakout to new highs. (see below)

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

____________________________________________________

BREAK OUT UPDATE: 

SYM LAST  ADDED  TO WATCH LIST TRIGGER
PRICE 
BREAKOUT
DATE 
MAX BUY
PRICE 
CURRENT
% GAIN/
LOSS
TEAM $98.98 1/27/19 $100.10 2/1/19 $105.11 -1.12%
GIB $66.34 1/27/19 $66.63 2/1/19 $69.96 -0.44%
LLY $120.80 12/30/18 $119.94 1/31/19 $125.94 +0.79%
NOW $221.51 1/6/18 $192.26 1/30/19 $201.87 +15.21%
STOR $31.67 1/27/19 $31.15 1/29/19 $32.71 +1.67%
CYBR $88.48 1/23/19 $81.98 1/28/19 $86.08 +7.93%

Questions? – Click here.

See This Week’s BreakOuts From Our…

Stock WatchList: Morning Update HERE

 

_________________________________________________

YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

SUN 1/13: Major Averages Rally into Resistance – 3 Stocks on Our WatchList

 This Week’s Sunday Stock Report – 1/13/18

– 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.

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2 BreakOuts This Past Week | 3 Stocks on Our WatchList for the Week

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The market continued trading aggressively higher for the first full week of 2019. All three of the major averages closed with weekly gains for the third week in a row, as progress on trade talks with China overshadowed a partial government shutdown.

For the week, the Dow booked a weekly gain of +2.4%, the S&P 500 ended up +2.5%, while the Nasdaq produced a weekly return of +3.5%.

The broad-based advance helped to propel the Dow and S&P 500 out of corrective phases as the indexes climbed by at least +10% from their correction low, which signals an emergence from correction, according to Dow Jones Market Data.

In the previous week’s Sunday Stock Report (12/30) I wrote – “By the book – a stock market rally attempt is underway. A follow-through day could come as soon as this week to confirm the new market rally.”

…and that occurred on the following Friday (1/4) as the market advanced with volume.

In the last Sunday Stock report (1/6), I pointed out that the market is now officially in a confirmed uptrend, and – “we are going to have to let our breakouts by our guide.”

Monday morning, the market opened the first full trading week of the year and continued to make gains. The day proved to be a solid with the major averages following up on Friday’s advance and we had a total of 3 breakouts from two of our watch lists which contained a total of just 12 stocks. As we have seen, time-and-time again – stocks breaking out in numbers is always a key sign of a new rally-run.

Of course the question now is  – How long will this new uptrend continue?

Let’s consider this…. as of Friday’s close all there of the major averages have now rallied from their December sell off lows and are now up at respective resistance levels.

These are now the areas to watch for either a turn back from this resistance which could lead to a pullback, or a breakout which could be the start of another leg up.

The Dow Jones Industrials are now near 24,000, which is a 2000 point gain from the sell off lows in December.

Chart courtesy of stockcharts.com

The Nasdaq is now at resistance of its 50-day moving average and a downward trend line, where it may have already started to pause.

Chart courtesy of stockcharts.com

The magic number on the S&P 500 I’m told is 2600. We can see several areas of resistance coming into play for Wall Street’s bellwether.

Chart courtesy of stockcharts.com

Next week, bank earnings from Citigroup (C) and JPMorgan Chase & Co.  (JPM), among others, mark the unofficial start of earnings season, which may offer fresh clues about the health of American corporations.

The 2019 rally has thus far held up and gave us of several trading opportunities just by following the TRADING CRITERIA in our daily watch lists.

Over the course of the week, the Portfolio Service had a total of 3 BUYS and 2 SHORTS.

The 3 BUYS were DORM (P/L: +3.34%), QNST (P/L: +3.85%), and FIVN (P/L: -0.49%).

The Stock WatchList Morning Update had a total of 2 stocks breakout for 2019.

Those were CIEN (P/L: +4.35%) and also DORM (P/L: +3.34%).

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases. This weekend, I ran my routine stock screens, yet did not find any new stocks to add to our Technical SetUps WatchList.

We currently have a total of stocks which we will be watching for a potential breakout.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.

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BREAK OUT UPDATE: 

Questions? – Click here.

In last week’s newsletter, I posted a link below to a page which contained all my watch lists, including the TrendLine SetUps WatchList (this watch list is available through my Personal Portfolio Service).

If you followed along and used those watch lists last week you would have a total of 4 breakouts and 2 stocks which triggered SHORT signals.

Here is a update on those breakouts/shorts from all my watch lists so far for 2019.

…SEE ALL 2019 BREAKOUT & SHORTS HERE

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YOU CAN REQUEST A COMPLIMENTARY COPY OF THIS WEEK’S COMPLETE SUNDAY STOCK REPORT AND WATCH LIST HERE

 

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