Here is an update from the video I posted over the weekend (for subs) featuring stocks from the IBD50 list that I was watching for possible long swing entries today. If you’re looking for a way to participate in swings and not just our Boom Factory day trades, make sure you spend some time watching these videos (IBD50 and StockTwits50).
The following are all from the video and highlight where they sit today. Of course, Greece, earnings and the Fed (on Wednesday) could all put a smack down on these stocks, so we always have stops and watch positions colosely.
CVLT – Perfect entry on bounce off trendline support this morning with Stochastics bottom reversal.
TSCO – I wasn’t really prepared to swing TSCO today, but I mentioned it anyway. I would rather play it off the bottom or through the top… well, now we’re at the top, testing a descending trendline. I might consider long over top of trendline around 64.50.
HUM – Still trading in a consolidation range, but worth considering on breakout if you didn’t get the bounce today. All of it’s friends (health care plans) are doing well, too.
CMG – Made a nice bounce off trendline support today. However, I am looking for a confirmation of sma50 break first.
INFA – Another great bounce off trendline today with an attractive stochastics reversal under the hood. Great swing trade if you jumped in. If not, might want to watch for horizontal resistance just under $57
HS – On last night’s video, I mentioned that we should watch for horizontal breakout. Well, today we got it, but it was a fake-out…At this point, watch for a break of the candle high on 5/19
ISRG pushed through the top of the channel today and is now testing SMA50. Definitely worth a watch for possible continuation.
HANS broke out of falling channel today – looks really good. Today’s entry was ideal, but looks like it has more upside potential with market strength.
COH – Closed at Friday’s highs – light volume concerns me a little, but the chart is strong. A break above horizontal resistance seems likely.
CHKP – Watch for possible break out of falling channel for entry long. Stochastics appears to be bottoming.
ILMN – Nice tight bollinger bands with price consolidating just above SMA50. I’m watching for horizontal resistance break above. Stochastics trying to turn.
ROST looks ready to move out of falling wedge. Stochastics are basing with MACD starting to turn. Watch for break out of wedge and possibly over SMA50 for long swing.
ALTR nice falling wedge setting up for break to the upside if market supports.. Stochastics running along bottom with turning MACD. I might consider long above SMA100 out of wedge.
JAZZ – Nice consolidation channel here. Look for break above and through SMA50. I don’t like the falling volume. We’ll need to see that firm up to get the break out.