RE: US Stocks - Watchlist and Discussion (Premium)
HILL - Stage 2 continuation attempt with cup and handle pattern. Volume picking up on the breakout attempt today, but the weekly is still below average.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
It was an interesting first week of the year in the market, but for me MIFI stood out early on, and was was highlighted on the elite board early in the trading day on Tuesday 6th, and closed the week strongly 22% higher from there.
MIFI looks like it could be our first candidate with A+ potential imo, as if you look at the weekly chart attached it made a Stage 2 breakout on 2.95x average weekly volume and closed the week strongly above it's near term resistance from the 2013 highs, completing a year and a half inverse head and shoulders pattern, and showing very strong relative performance versus the market also.
The monthly chart shows that's it's moved into Stage 2A position this month, and the monthly volume is approaching it's average, and so looks like it could reach the 2x average monthly volume requirement that we look for.
As we drop down the timescales, the daily chart has the strong technical attributes that we look for - see the breakout quality checklist thread. And the 2 hour chart highlights the strength of the move including the volume change since the beginning of the year.
To round it off, I've included the P&F charts to give a longer term perspective on the price action and relative performance versus the market.
The breakout was very strong this week, and so personally I will be looking for the next pullback / consolidation for a possible entry point using the shorter term charts (Daily and 2 hour) to fine tune the entry point over the next week or so. But if the strength continues, then I might need to have much more patience to wait and see what happens on the first significant pullback.*
*This is not a recommendation, and is just my personal opinion. So please do you own research if you intend to trade this stock.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
MCRI - Stage 2 breakout from a small raised Stage 1 base with 2.92x the average weekly volume and relative performance that's breaking above the zero line.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
As always there was numerous stocks highlighted during the week on the Elite Board, of which here's a few of the most interesting imo:
XNCR - Early in Stage 2, but potential for a Stage 2 continuation attempt after consolidating for the past month since it's Stage 2A breakout.
ARMK - Stage 2 continuation with strong relative volume. Moving to new highs
NPSP - Stage 2 continuation from a one year range with strong relative volume to close at new highs
DHT - Stage 2 continuation on very strong relative volume. Extended short term, and so may need to consolidate or pullback.
MRVL - Potential for Stage 2 continuation attempt. Has recovered back into Stage 2 with a strong volume breakout this week, but is still below near term resistance from the 2014 highs.
IPHI - Stage 2 continuation at the start of the year on strong relative volume, which continued this week.
CJJD - Stage 2 continuation two weeks ago, but attempting to break through near term resistance to new highs.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Below of some the stocks highlighted on the Elite Board earlier in the week:
ADXS - Strong initial Stage 2A move on heavy relative volume, which has continued for four weeks. So now watching for the initial significant pullback for the possibility of trading the investors methods secondary entry point, as this is showing A+ potential so far.
AGEN - Stage 2A breakout on 7.67x the weekly average volume. Relative performance versus the market is strengthening above a rising zero line, but it's yet to clear it's major near term resistance from the two previous highs over the last two years. And so is showing some potential to be an A+ candidate, but needs clear the resistance on continued strong relative performance.
EBIX - Stage 2A breakout from a good sized Stage 1 base on 2.67x the weekly average volume. Strengthening relative performance above a rising zero line.
QURE - Stage 2 continuation to new highs. Close to the IPO high level which may have some resistance.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
