Below is an update on the last 5 breakout from my –
“Stock WatchList: Morning Update”.

RealPage, Inc. (RP – Nasdaq)

Before each market open, I email out my continually updated watch list of hand-selected, high-ranked stocks – each with specific buying criteria. Below is an update on the last 5 breakouts from that list.

This was a low-volume breakout notably just before the Labor Day holiday weekend.

Shares did get a boost on the follow trading session, being Tuesday, as they shot to new highs with a +30% increase in turnover. This was some solid follow-through action, however, the stock did abruptly sell off the very next day (9/5) with the highest volume in the past month.

This was obviously a technical concern as it should be anytime a fresh breakout falls so hard back into its base.

Shares did hold above support of the round-$60 and well above the 50-day moving average (2nd SUPPORT).

Since, the stock had been inching higher, yet with a lack of real conviction as daily volume totals are unimpressive.

As noted on Wednesday – “Considering the overall positive environment, we will give this holding the bullish benefit of doubt.”

Friday’s gains of +1.8% with a +86% increase in volume are very encouraging with shares closing at a new all-time high.

SYMBOL LAST ADDED TO WATCH LIST BREAKOUT
DATE
BREAKOUT
PRICE
RP $63.65 8/28/2018 8/31/2018 $62.05

Chart courtesy of stockcharts.com

MAX BUY PRICE 1st SUPPORT 2nd
SUPPORT
MAX STOP
LOSS GUIDE
CURRENT % GAIN/LOSS
$66.15 50 DMA UPWARD TRENDLINE $57.08 +2.58%

 

SEE UPDATES ON ALL 5 BREAKOUTS HERE