Richard-James

– 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.


Today’s BreakOuts & Portfolios Update

3:09 PM

[dropcap]A[/dropcap]fter setting records again yesterday, the major averages are lower this afternoon.

Our bank stocks which jumped higher yesterday, are pulling back today. However, their volume is lighter and they remain above support.

We had 2 stocks from our watch lists trade above their TRIGGER PRICE today. Our PACW, which has yet to confirm a BUY signal, is now actually back below its TRIGGER PRICE and with a loss on the session.

From our TrendLine SetUps WatchList we had MEI, which broke out today on earnings, and is holding up this afternoon, however could still be volatile tomorrow. So, caution is advised.

As far as our previous breakouts…

Both our MRVL and SGMS have earnings today after the close. If you are more risk-adverse you may want to consider selling at least a portion of your holdings in these.


2017 Portfolio – Updates

Below are stocks from our 2017 Portfolio which have noteworthy action today.

ENV – Just broke out yesterday and is getting hit today as the company is having trouble filling its 10-K and there are questions be raised by attorneys about potential SEC violations.

Shares are holding support of the 200-day moving average.

Chart courtesy of stockcharts.com – Click chart to enlarge.

TSM – Sharply lower today by -2.3% with above average volume. Shares look likely to test support of the 50-day moving average.

As noted yesterday – “Shares are starting to dig into our noted 1st SUPPORT of the highs of the previous base. This is a concern.”

Our 1st support is now being lowered to the 50-day moving average ($30.45).

Chart courtesy of stockcharts.com – Click chart to enlarge.

KEY – After some solid gains yesterday, shares are pulling back today, yet remain above support. (same can be said for our other bank stocks)

Chart courtesy of stockcharts.com – Click chart to enlarge.

CMA – Pulling back today, yet volume is lighter.

Chart courtesy of stockcharts.com – Click chart to enlarge.

WAL – Some considerable declines today, yet volume is below average.

Chart courtesy of stockcharts.com – Click chart to enlarge.

AVGO – Opened with a solid gap up this morning after the company reported earnings last night. Shares are well off of those highs.

Chart courtesy of stockcharts.com – Click chart to enlarge.


TrendLine Portfolio – Updates

Below are stocks from our TrendLine Portfolio which have noteworthy action today.

NTES – Shares are selling off today -3.5% with a sharp increase in volume. This is a concern as the stock is extended from support.

Chart courtesy of stockcharts.com – Click chart to enlarge.

 

Any questions or concerns, of course, please email me at james@jamestaulman.com.