We had a very interesting week for the market which finished with a nice move up on Friday. The SPY and QQQ are at all time highs, and the DIA is not far behind. We also saw a strong move up from the IWM. That is the good news; however, we still need to be concerned that all time highs have been strong resistance recently. That trend may continue as some of the indices start to get a bit extended. This week we will continue our patient approach and watch very carefully to see what happens on any small pullbacks. Do buyers come in or do we see signs of weakness? Here are some names that we will be watching this week:
ADPT is a recent issue that has been beat up like so many of these and looks ready for a bounce into earnings on November 12th. We like this over 28.50 for a push up to $30 or higher
SDC is another beat up recent issue and although we don't like this company long term, I think its due for some continued bounce in the short term. Ideally we like this on a pullback and hold of the $12 area and an entry around 12.15 for a push to $13 or higher
INSM is a biotech name that has some Phase 2 data coming in early 2020 and may be setting up for a run into that. We like this on a break over the sma100 around 19.75 for a push to $21 or higher or possibly on a pullback to $19 to enter on the way back up.
HCSG is a beat up name that gapped up on a earnings beat recently and saw heavy profit taking on that gap up. It also has a nice TTM Squeeze on the daily. We like this on a move over the sma100 around 25.50 for a test of the earnings high and possible push up into the gap above
WB had made a nice recovery off of the summer lows and looks poised for a run into earnings on November 14th. It also has a nice TTM Squeeze on the daily. We like this over $51 for a push up to test the sma200 around 52.50 We would also be interested on a pullback and hold off the $50 level
PDCO has been in a nice consolidation off of its summer lows and has worked its way over the sma50 and sma20 in a TTM Squeeze on the daily. We like this over 17.71 for a test of $18 and possible push to $19 or higher
LSCC gapped down on is recent earnings and the dip was bought up aggressively. It is also in a nice TTM Squeeze on the daily. We like this over 20.23 for a push up to the summer highs around 21.50
GRA gapped up on its recent earnings and being a name that saw weakness into earnings there was quite a bit of profit taking. It held its sma20 well and is in a TTM Squeeze on the daily. We like this over 67.50 for a test of the earnings high around $69 and possible move higher
SNAP is somewhat similar to GRA in that it pulled into earnings, gapped up, and then saw profit taking. It has now taken out the earnings high, and we like this on a slight pullback and move back up off the $15 level for a test of the recent highs in the mid $15s and possible push higher
K gapped up on earnings and has since trade sideways in a number of inside days. We like this over $64 for a tst of the recent highs around $65 and possible push higher. It also has a TTM Squeeze on the daily.