– 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.
It’s already been a busy 2019 as we have had 3 breakouts, each from several of my watch lists. There has also been 1 short, which triggered Tuesday, from the two stocks which I had on the ShortSetUps WatchList.
Below is an update on all 4 of these stocks which have been our only actionable trades so far this week.
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
On Monday, we had two breakouts confirm a BUY signal as both DORM and FIVN traded above their posted TRIGGER PRICE while also making their TRIGGER VOLUME.
Shares of DORM quickly started trading higher on Monday’s open, with a sharp increase in volume. This bullish action triggered a BUY signal as price rose above the posted TRIGGER PRICE of $91.42 mid-morning, while volume was well on pace to make the stock’s TRIGGER VOLUME.
Unfortunately, the stock did pull back that afternoon and close the breakout day below the TRIGGER PRICE. Of course, this is never a good sign. So, that was already 1 technical strike for this breakout.
Tuesday’s action did not add any reassurance as shares closed down another -1% with volume up +85%. The stock closed just under its 1st SUPPORT. Any further declines would be tough to tolerate.
Chart courtesy of stockcharts.com
FIVN is from the TrendLine SetUps WatchList and it broke out Monday morning with gap open – backed with a +113% increase in volume. The stock made some decent follow-through gains Tuesday, with continued volume conviction, and a close at the session highs (+2.3%). Looks poised to move higher as soon as Wednesday morning.
Chart courtesy of stockcharts.com
From the Technical SetUps WatchList we had CIEN also broke out on Monday. Volume was not as much as we normally like to see being only +15%, however, lower volume breakouts can still work out in an up-trending market.
Chart courtesy of stockcharts.com
On Tuesday, we had one of the two stocks which were on the ShortSetUps WatchList trigger a SHORT by default as shares of ANTM headed lower.
Volume on the session showed a +78% increase above normal levels. However, the fact that shares closed well off of the session lows, is a concern, especially considering the present bullish environment.
Further upward trading tomorrow would be a concern, any gains above the 200-day moving average ($253.10) would be an appropriate place to cover with a manageable -3%~ loss.
Chart courtesy of stockcharts.com
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Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases.
We now have a total of 9 stocks which we will be watching for a potential breakout.
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
Missed any of these morning reports? You can find all previous reports 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. _________________________________________________
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. _________________________________________________ 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.