This Week’s Sunday Stock Report – 7/28/19

– 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 | 7 Stocks on Our WatchList for Next Week

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After closing lower the previous week – for only the second week of this current uptrend – all there of the major averages finished higher this past week.

The previous week it was the Nasdaq and S&P 500 taking the brunt of the losses with each index closing down more than -1%, and notching their biggest weekly loss since late May.

This week both those indexes roared back and made new all-time highs on Wednesday. Although they basically gave back those gains on Thursday, both blasted higher on Friday with each closing the week at a new all-time high.

The Dow lagged in comparison to the two other top averages, closing the week with a less significant +38 point/+0.14% net gain.

The index ended at 27,192, off of the all-time high of 27,398 set on 7/16.

The blue-chips did remain above 27,000, and maintaining there is what is most important this week.

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

The Nasdaq Composite gained +183 points or a solid +2.26%, this past week to close at 8330.

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

The S&P 500 held 3000 during Thursday’s pullback, yet did pick up another distribution day on its count.

The bellwether advanced +49 points, or +1.65% on the week and closed at 3025.

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

The Distribution Day count is now at 4 on the S&P 500, and still 4 on the Nasadq.

Earnings season is now nearly half over. As of Friday, 44% of companies in the S&P 500 index had reported second-quarter results. The numbers have been a mixed bag. Some 77% of the reporters have delivered better-than-expected earnings, while 61% have posted revenue beats, according to FactSet. That earnings-beat rate is above the five-year average of 72%. However, expectations were low.

Next week will be another busy one with about 26% of the S&P 500 reporting.

At the sector level, technology and healthcare, the S&P 500’s two largest sector weights, see about 30% of their components report. That is dwarfed by the 72% of energy companies reporting in the week ahead.

Also, negotiators for the U.S. and China will face off in Shanghai this coming week.

The market has been excited about a rate cut for nearly two months. The Federal Reserve will probably cut rates this week.

Finally, the Bureau of Labor Statistics will release its July jobs report on Friday.
Economists expect the US economy added 160,000 jobs in July, and they predict the unemployment rate fell to 3.6%.

Sunday evening futures are currently lower for the Dow Jones, S&P 500 and Nasdaq.

Regardless of market conditions, I continue to run stock screens on a daily basis searching for high-ranked leaders, with solid fundamentals that are building bullish technical bases. This week I added 2 new stocks to the weekly watchlist.

These are now 7 stocks that will be watching for a traditional break out to new highs this coming week. (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.

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BREAK OUT UPDATE: 

From our watch list last week of 8 high-ranked stocks, we had 2 breakouts this past week.

Some of this week’s breakouts remain in a buyable range.

For those who bought the initial breakout, SUPPORT LEVELS AND CHARTS have been updated below.

#2: Wix.Com, Ltd. (NASDAQ – WIX)

SYM LAST ADDED
TO
WATCH
LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
WIX $149.14 7/21/19 $149.69 7/24/19

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

MAX
BUY
PRICE
1st
SUPPORT
2nd
SUPPORT
MAX
STOP
LOSS
GUIDE
%
GAIN/
LOSS
$157.17 $148.00 $140.00 $137.71 -0.37%

Questions? – Click here.

#1: Trade Desk, Inc. (NASDAQ – TTD)

SYM LAST ADDED
TO
WATCH
LIST
BREAK
OUT
PRICE
BREAK
OUT
DATE
TTD $278.55 7/18/19 $258.10 7/26/19

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

MAX
BUY
PRICE
1st
SUPPORT
2nd
SUPPORT
MAX
STOP
LOSS
GUIDE
%
GAIN/
LOSS
$271.01 $250.00 50 DMA $237.45 +7.92%

Questions? – Click here.

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RELATED LINKS:

IBD: Dow Jones Futures: Can Fed Rate Cut, China Trade News, Earnings Drive Stock Market Rally Higher?

IBD: Why Use Sell Rules

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WATCH LIST UPDATE:

I continue to run stock screens on a daily basis searching for high-ranked leaders, with solid fundamentals that are building bullish technical bases. This week I added  2 new stocks to the weekly watchlist.

There are now 7 stocks that will be watching for a traditional break out to new highs this coming week.

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
%
FTP
ADP $169.27 7/28/19 $170.55 2,742,450 $179.08 -0.75%
VMC $136.80 7/28/19 $140.10 1,438,800 $147.11 -2.36%
NEO $23.47 7/18/19 $24.94 1,458,750 $26.19 -5.89%
SERV $52.75 7/18/19 $55.46 1,087,500 $58.23 -4.89%
TGT $87.06 7/18/19 $90.49 7,847,100 $95.01 -3.79%
CECO $19.44 7/16/19 $20.49 940,800 $21.51 -5.12%
TSN $80.98 7/7/19 $84.40 4,500,750 $88.62 -4.05%

* % FTP = A stock’s price percentage from its TRIGGER PRICE.

ANNOTATED CHARTSTechnical SetUps WatchList

The charts below are for each stock that is currently on our weekly watch list.

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.

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

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

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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