RE: US Stocks - Watchlist and Discussion (Premium)
(2014-04-09, 01:57 AM)isatrader Wrote: A few watchlist candidates for the long side tonight after today's bounce in the markets - JOY, POZN, ECOL, JVA
Quick follow-up on JOY... Popped up in my HighVolume scan and seems to have made good progress since Isa last highlighted in April. Now approaching the $67-$68 Stage 2A target.
-Industrial sector and Commercial Vehicles group performing well
-2X Avg Weekly Volume this week; Subsequent sell-offs in below-avg volume
-Above 30wma and 30wma line rising; Above RP line but RP still relatively flat
-No overhead resistance
Although Monday was a good day, there still seems to be some softness in the US markets this week. JOY's earnings outlook is not great and I would like the RP line to turn up more before I would consider this a serious candidate. It's definitely one for the watchlist though for when strong instiutional buying comes back into the market and the market starts moving higher again.
I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over again in my life. And that is why I succeed. - Michael Jordan