The market suffered gap down as global market sell off hit the US shores. IKt was a whipsaw territory with some recent breakouts gapping down. There was an attempted bounce, but it failed. However the breadth was not overwhelmingly negative. The $bpnya is down to 74 from elevated levels of 79 few weeks ago.
The vast majority of stocks continue to hold their gains and the setups on the momentum stocks continue to show continuation pattern rather than topping patterns. Lot more selling will be required for those setups to deteriorate.
Top 30 stocks by momentum
The vast majority of stocks continue to hold their gains and the setups on the momentum stocks continue to show continuation pattern rather than topping patterns. Lot more selling will be required for those setups to deteriorate.
Top 30 stocks by momentum
- CLVS
- LAS
- VNDA
- PLUG
- MNKD
- YRCW
- VRML
- CSIQ
- ZLC
- CLSN
- LPTH
- HTCH
- TSLA
- ENG
- AEGR
- DANG
- BLDP
- CLFD
- SUNE
- MVIS
- TSRO
- IMMU
- TEAR
- ACAD
- CLNT
- HSOL
- HUSA
- NLST
- ACRX
- INSM
- ESI
- TMUS
- OSTK
- ET
- NVTL
- YY
- ABFS
- ANW
- WTSL
- PXLW
- KNDI
- BIOD
- MTSN
- IQNT
- JASO
- PCO
- UNIS
- SCTY
- STEI
- ACTV
TSLA, YRCW, OSTK, WTSL, and RH are some of the stocks setting up well. OSTK is the best out of that with recent earnings surprise.
Any high volume breakout on this will make me a buyer . It also has low float and comparatively high short interest with 24% of float short. This kind of situation can lead to explosive moves.
2 comments:
Hi stockbee,
love your blog! Like you, I also focus on earnings breakouts but with an additional value filter. My screen triggered buys on OSTK @ $17 and YRCW @ $12. Based on previous posts about your strategy (e.g. 'Serendipity, little luck and discovery of a profitable strategy') I'd have assumed you were also in OSTK and YRCW already, has anything changed?
Currently in cash due to market conditions. So do not have any open positions.
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