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.


3:05 PM

The Dow broke above 20k this morning as the major averages rally for a second straight day.

More importantly…

After having 7 BreakOut Alerts yesterday, we actually had a another 9 BreakOut Alerts today.

Here is another quick rundown/recap…

All of these stocks are trading above their TRIGGER PRICE. We now just have to check the volume to be sure it is at least on pace to be at a +50% increase.

1) MLM – As reported this morning, the volume is confirming a BUY signal.

2) HBHC – The volume is NOT confirming a BUY signal, nor is it likely to be by session’s end.

3) SMTC – The volume is NOT confirming a BUY signal, nor is it likely to be by session’s end.

4) CPRT – The volume is NOT confirming a BUY signal, and it will not be by session’s end.

5) TREX – The volume is NOT confirming a BUY signal, and it will not be by session’s end.

6) IDTI – The volume is NOT confirming a BUY signal, and it will not be by session’s end.

7) FLEX – The volume is confirming a BUY signal. However this is an pre-earnings breakout, and those carry more risk.

8) AGX – The volume is NOT confirming a BUY signal, but may do so before the close.

9) MRVL – The volume IS confirming a BUY signal.

Our Previous breakouts from the TrendLine SetUps WatchList with some interesting action today include…

Shares of TSEM which are making new multi-year highs today with above average volume.

There is also our SCHW as it is posting some new highs today, yet volume lacks conviction.

Shares of RTN are at support of the 50-day moving average ($146.18) as the company is set to announce earnings tomorrow before the open.

We have VMW holding its new highs that it made yesterday, but also has earnings tomorrow. (after the close)

After making gains yesterday of +2.5% to new all-time highs on only about average volume, shares of MPWR are holding up today.

There are some above average volume gains today in ABM as shares approach resistance of the 50-day moving average.

Still lacking strenght is ANGO as after continually falling since first breaking out, shares remain below what was support of the 50-day moving average. The market is rallying and this stock is not participating. This stock can be SOLD to free up capital for some of these new breakouts.

Updates on all previous TrendLine BreakOuts can be found below.

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

Today’s TrendLine BreakOuts Currently Trading Above Their Trigger Price

The stocks in this table are from the TrendLine SetUps WatchList and are trading above their respective TRIGGER PRICE, yet the volume for each stock at this time IS NOT confirming a clear BUY signal.

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Today’s TrendLine BreakOuts Confirming a BUY Signal

The stocks in the table are from the TrendLine SetUps WatchList and are trading above their respective TRIGGER PRICE, and the volume at this time IS confirming a BUY signal.

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Previous TrendLine BreakOuts – Portfolio

The stocks in this table are from the TrendLine SetUps WatchList and had previously traded above their respective TRIGGER PRICE while each also cleared their TRIGGER VOLUME, and became a BUY. They are now covered here (below) as holdings, and are being monitored for any weakness or SELL signals.

Previous TrendLine BreakOutsAnalysis & Charts

UPDATE: AngioDynamics, Inc. (ANGO – Nasdaq)

After continually falling since first breaking out, shares remain below what was support of the 50-day moving average.

Today, there are some gains (+1.4%), yet the volume is well below average.

The market is rallying and this stock is not participating.

This stock can be SOLD to free up capital for some of these new breakouts.

A final support area is at the previous lows at $16.


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

UPDATE: Incyte Corporation (INCY – Nasdaq)

After a negative reversal on Friday, shares are holding up again today and that is an encouraging sign.

Initial support is at the previous lows near $113.

A break below there would be a concern, especially if those declines are made with an increase in volume.


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

UPDATE: Tower Semiconductor Ltd. (TSEM – Nasdaq)

Shares are making new multi-year highs today with above average volume.

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

UPDATE: TCF Financial Corporation (TCB – NYSE)

Shares sold off sharply (-3%/+168%) last Thursday as the company was hit with federal consumer finance regulators suing, alleging the bank deceived consumers so it could charge them exorbitant overdraft fees.

Today, the stock continues moving up from support of the 50-day, which is at $18.54, however volume lacks conviction.

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

UPDATE: Northern Trust Corporation (NTRS – Nasdaq)

Continues holding up today after a gap down -4.6% on last Wednesday as the company reported earnings results that did not meet Wall Street expectations.

We currently sit with +10% gains.

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

UPDATE: PacWest Bancorp (PACW – Nasdaq)

Volume remains below average as shares are above support of the 50-day moving average, which is currently at $53.45.

Ranks are solid.

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

UPDATE: CommScope Holding Company, Inc. (COMM – Nasdaq)

After a gap down and sell off (-4.4%) on Tuesday of last week on a downgrade, shares regained the 50-day moving average yesterday, and are holding above there today.

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

UPDATE: Boardwalk Pipeline Partners, LP (BWP – NYSE)

Shares remain near new highs with no concerns as volume is well below average.

Support is at that 50 DMA ($17.57).

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

UPDATE: VMware, Inc. (VMW – NYSE)

Holding on to the nice advance to new highs with above average volume that shares made yesterday.

Support, if needed is at the 50-day moving average ($80.53).

Most importantly – has earnings tomorrow after the close.

We currently have +10.5% gains.

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

UPDATE: Potlatch Corporation (PCH – Nasdaq)

After falling further below what was support of the 50-day moving average, shares made some gains, yet volume was below the normal rate.

The stock remains below what is now resistance of the 50 DMA ($41.66) and the previous lows.

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

UPDATE: The Charles Schwab Corporation (SCHW – NYSE)

Some new highs today, yet volume lacks conviction.

Ranks remain solid.

In the event of a pull back, there is support at the 50-day moving average ($39.57).

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

CONTINUED HERE