This Week’s Sunday Stock Report – 2/16/20

– 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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6 BreakOut Alerts This Past Week | 5 Stocks on Our WatchList for Next Week

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It was another week of record highs for the major averages as each finished with solid weekly gains for a second straight week.

Investors parsed more corporate earnings releases along with mixed data on the strength of the U.S. consumer, while also monitoring the spread of COVID-19.

On Wednesday, all 3 of the major indexes did close at new record highs.

Friday, the markets were mixed after U.S. retail-sales data showed a sluggish activity, underscored by a -3.1% drop in sales at clothing stores.

Still, the Nasdaq and S&P 500 managed to close the week at new records.

The Dow Jones added another +296 points on top of the previous week’s +846 points.

The blue-chips gained +1.0% to end at 29,398, off -172 points however from Wednesday’s new high record high of 29,569.

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

The Nasdaq closed with a weekly advance of +211 points.

After gaining +4.0% the previous week, the index added another +2.2% last week, ending at a new closing high of 9731.

Since getting back above its 10-day line on 2/4, the composite has traded higher for 7 of the past 9 sessions.

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

This S&P 500 ratcheted higher as the index has continued to move up from found support of its 50-day moving average on Jan., 31st.

The bellwether added another +52 points (+1.6% ) to the previous week’s +120 point gain, making a new high close by less than 1 point at 3380.

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

The current rally continues to officially be in a confirmed uptrend with 4 distribution days on S&P 500 and only 2 on Nasdaq.

Earnings season continues with just over 400 companies reporting next week.

After having 6 BreakOut Alerts the previous week, we had another 6 this past week. The charts and support levels for these latest breakouts have been updated below.

If you bought any of the 22 BreakOut Alerts that were issued over the past 30-days, be sure to check the new Premium Members Area at BuyingBreakOuts.com for ongoing chart analysis and updated support levels throughout the week here.

While reviewing over 212 charts this weekend, I did not add any new stocks to our weekly watch list. There are now 5 stocks that we will be watching for a traditional break out to new highs this coming week. The watch list is updated throughout the week here.

The exchanges will be closed on Monday for the President’s Day holiday. Originally established in 1885 in recognition of President Washington, the holiday became popularly known as Presidents’ Day after it was moved as part of 1971’s Uniform Monday Holiday Act, an attempt to create more three-day weekends for the nation’s workers.

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BREAKOUT ALERT UPDATE: 

There were 6 “BreakOut Alerts” this past week. The chart and support levels have been updated below.

#6 Paypal Holdings Inc (NASDAQ – PYPL)

PayPal Holdings, Inc. operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide.

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
PYPL $122.99 2/12 $121.10 2/14

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$127.16 $120.00 50 DMA $111.41 +1.56%

Questions? – Click here.

#5 Fortress Transprtn and Infr Investrs LLC (NYSE – FTAI)

Fortress Transportation and Infrastructure Investors LLC owns and acquires infrastructure and related equipment for the transportation of goods and people in Africa, Asia, Europe, North America, and South America.

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
FTAI $20.62 2/6 $20.24 2/13

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$21.25 $20.00 10 DMA $18.62 +1.88%

Questions? – Click here.

#4 Atkore International Group Inc (NYSE – ATKR)

Atkore International Group Inc. manufactures and distributes electrical raceway products, and mechanical products and solutions (MP&S) in the United States and internationally.

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
ATKR $42.16 2/12 $42.89 2/13

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$45.03 $42.50 50 DMA $39.46 -1.70%

Questions? – Click here.

#3 Equitable Holdings Inc (NYSE – EQH)

Equitable Holdings, Inc. operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions.

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
EQH $26.89 2/10 $26.48 2/11

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$27.80 $26.32 $25.00 $24.36 +1.55%

Questions? – Click here.

#2 BWX Technologies Inc (NYSE – BWXT)

BWX Technologies, Inc. manufactures and sells nuclear components in the United States, Canada, and internationally. 

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
BWXT $68.63 2/5 $66.80 2/11

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$70.14 $66.50 50 DMA $61.46 +2.74%

Questions? – Click here.

#1 Steris PLC (NYSE – STE)

STERIS plc provides infection prevention and other procedural products and services worldwide. It operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies.

SYM LAST ADDED TO WATCH LIST BREAK
OUT
PRICE
BREAK
OUT
DATE
STE $168.51 1/20 $156.76 2/11

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

MAX BUY PRICE 1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE % GAIN/
LOSS
$155.50 $61.50 50 DMA $144.22 +7.50%

Questions? – Click here.

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RELATED LINKS:

IBDHow To Invest In Growth Stocks And The Lesson Of Microsoft: When To Use The 8-Week Hold Rule

IBDThe Cup Without Handle Can Also Yield Bullish Breakouts In Growth Stocks

IBDThe L in CAN SLIM: Why Industry-Leading Growth Stocks Are Key To Profitable Investing

IBDHow To Use Stock Charts: Why Patience Is Required To Play The Saucer Base

IBDWhen To Buy Growth Stocks: Some Leaders Can Still Run After Forming Late Stage Bases

 

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WATCH LIST UPDATE:

While reviewing over 212 charts this weekend, I did not add any new stocks to our weekly watch list. There are now 5 stocks that we will be watching for a traditional break out to new highs this coming week.

NOTE: There may be additional watch list stocks here.

TRADING CRITERIA TABLE Technical SetUps WatchList

Any trading above the stock’s TRIGGER PRICE while the day’s volume is at least on pace to make the TRIGGER VOLUME would have this set up confirming a BUY signal up to the MAX BUY PRICE.

SYM LAST ADDED TO WATCH LIST TRIGGER PRICE TRIGGER VOLUME MAX BUY PRICE % FR TRIG PR
JPM $137.46 2/12 $141.20 15,782,850 $148.26 -2.65%
DOV $119.86 2/10 $120.30 1,221,000 $126.32 -0.37%
AME $101.34 2/5 $102.41 1,484,400 $107.53 -1.04%
KLAC $176.28 2/5 $182.88 1,869,150 $192.02 -3.61%
FSS $33.27 1/28 $34.93 472,500 $164.60 -4.75%

ANNOTATED CHARTSTechnical SetUps WatchList

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

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

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

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

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

NOTE: There may be additional watch list stocks here.

Questions? – Click here.

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About the Author: 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.