– 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.
7:00 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]O[/dropcap]n Monday, the S&P 500 and the Nasdaq finished at record levels again after posting small gains. The Dow eked out a gain of less than +0.1%.
QUOTE OF THE DAY:
“Don’t be afraid to go out on a limb. It’s where all the fruit is.”
– Shirley MacLaine
Earnings season contines with Baker Hughes (BHGE), BP (BP), ConocoPhillips (COP), Eli Lilly (LLY), General Electric (GE), General Motors (GM), MasterCard (MA), McDonald’s (MCD), Pfizer (PFE) and Phillips 66 (PSX) are releasing earnings before the open.
Then we have Denny’s (DENN), Groupon (GRPN), Mondelez International (MDLZ), and of course Apple (AAPL) after the close.
Yesterday, Google (GOOGL) and Samsung (SSNLF) both disappointed investors with their quarterly earnings. Apple is expected to report declines in revenue and profit.
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BREAKOUT UPDATE:
Mimecast Ltd. (MIME – Nasdaq)
This latest breakout was added to our watch list on the morning of 4/25 .
Today, shares broke out above the posted TRIGGER PRICE of $51.76 while the stock was trading more than twice its normal volume.
By day’s end, volume totals were +190% above the daily average.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
| MIME | $52.74 | 4/25/19 | $51.76 | 4/29/19 | $54.35 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
CURRENT % GAIN /LOSS |
| $50.00 | (50 DMA) $47.73 |
$47.62 | +1.89% |
Going forward, I am putting our 1st SUPPORT at some of the highs of the recent base and the coinciding round-$50.
Below there, our 2nd SUPPORT area is the rising 50-day moving average, currently at $47.73.
Of course, any above average volume declines would be the first concern for investors who bought Monday.
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WATCHLIST UPDATE:
I ran my routine stock screens early this morning, yet did not add any new stocks to our watch lists.
There are now a total of 18 stocks on our watch lists.
Current Personal Portfolio Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
Missed any of these morning reports? You can find all previous reports 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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