Looks like some big-time institutions may have been buying this morning.
Here at 11:15 am, shares are up about 6.3% on the day, and the volume is almost double the 10-day average volume for Pure Storage.
Normally, a 1-day move for a stock covered closely here on Saul’s board would maybe not warrant its own post, but this high volume big move seems notable from my view. Glad I have a nice bit of PSTG shares.
volfan84
long PSTG
Noticed a similiar uptick in volume before the last PSTG announcement, but a rapid sell off disputed a good report. Hope this increase sticks.
Yes, I added on the strong move even though the market is “under pressure” and last to up days have been on lower volume.
Pure Storage (PSTG) broke out cleanly out of a first-stage base, a cup with handle. Volume jumped more than 160% above its 50-day average. The attractive breakout prompted Pure Storage to be added to IBD Leaderboard.
http://stockcharts.com/freecharts/gallery.html?pstg
buy point on the handle was 21.43. I bought a couple times on the way up today. $22.50 is 5% above buy point and max price to pay for traders using IBD rules.
Ranked third in its group…
ChecklistRating
Composite Rating 95 Pass
EPS Rating 67 Fail***weak
RS Rating 95 Pass
Group RS Rating A+ Pass
SMR Rating C Neutral
Acc/Dis Rating B+ Pass
MIME
http://stockcharts.com/freecharts/gallery.html?mime
buy point $39.43 5% max range $41.40
MIME is 9th in its stock group, and ratings are a bit weak for this market state so “riskier” buy than PSTG if you are using chart/TA.
ChecklistRating
Composite Rating 89 Neutral
EPS Rating 44 Fail
RS Rating 94 Pass
Group RS Rating A+ Pass
SMR Rating C Neutral
Acc/Dis Rating A Pass
ULTI
here is the one you want, and might be a very good candidate for this board. David Garnder picked it on his podcast a while back and it is up very nice since then. My new company uses this and it is a very nice HR tool (cloud based of course).
http://stockcharts.com/freecharts/gallery.html?ulti
My alerts are set. Buy point $258.03, 5% max range to $270.93
Top Notch growth ratings too.
ChecklistRating
Composite Rating 99 Pass
EPS Rating 98 Pass
RS Rating 89 Pass
Group RS Rating A+ Pass
SMR Rating A Pass
Acc/Dis Rating A- Pass
NOW
ServiceNow is another cloud-based growth stock I really like. I am evaluating it for my ITSM infrastructure at work for my Gov Program. (IT Service Management, incidents, service request, change management, problem management, etc. Nerd stuff). Many companies have switched. My company is rolling it out for the internal helpdesk. Top rated in Gartner Magic Quadrant. Definite candidate for this board.
Meanwhile, On the Chart/TA side it is at the edge of a breakout (if there is volume on the move).
Buy point is $176.66 5% max buy range up to $185.49.
Number 1 in its stock group.
ChecklistRating
Composite Rating 99 Pass
EPS Rating 98 Pass
RS Rating 94 Pass
Group RS Rating A+ Pass
SMR Rating A Pass
Acc/Dis Rating B Pass
CRM: Salesforce.com
has been a hold on this board in the past. Cloud-based Customer Resource Management (sales, service, etc).
1.55% below it buy point of $128.97. 5% max range up to $135.42
#1 in its group, very strong growth ratings.
ChecklistRating
Composite Rating 99 Pass
EPS Rating 95 Pass
RS Rating 91 Pass
Group RS Rating A+ Pass
SMR Rating B Pass
Acc/Dis Rating B Pass
WDAY WorkDay
another cloud-based HR support tool (timecards, payroll, HR, hiring, training, etc). highly recommend
http://stockcharts.com/freecharts/gallery.html?wday
buy point $140.10, 5%max up to $147.11. This stock has no handle, so breakout is at recent highs of $140.
Pretty strong ratings, EPS a bit weak.
ChecklistRating
Composite Rating 97 Pass
EPS Rating 76 Fail
RS Rating 90 Pass
Group RS Rating A+ Pass
SMR Rating A Pass
Acc/Dis Rating B- Pass
NVDA
broke out strong today
http://stockcharts.com/freecharts/gallery.html?nvda
$251.32 max buy point for IBD breakout traders. All gravy for Saul long term holders.
#1 in its stock group…
ChecklistRating
Composite Rating 94 Neutral
EPS Rating 97 Pass
RS Rating 95 Pass
Group RS Rating C- Neutral
SMR Rating A Pass
Acc/Dis Rating B- Pass
so, I am seeing a lot of strong stocks breaking out or near pivot points. I see institutions still out there buying, it feels like we are ready to be positive again for a while.
…until we are not.
…Top homebuilder LGI Homes (LGIH) is nearing a 75.62 buy point in a cup with handle. The stock also remains above a 72.10 proper buy point after briefly falling more than 7% below the entry on April 25. That day, the stock found support at the 50-day moving average line.
…
Alibaba (BABA), Salesforce (CRM), Red Hat (RHT), Splunk (SPLK) and ServiceNow (NOW) are top stocks near buy points with two particularly bullish traits.
Alibaba, Salesforce, Red Hat, Splunk and ServiceNow all boast best-possible 99 Composite Ratings
Meanwhile, all five stocks have relative strength lines at record highs
…
When searching for the best stocks to buy and watch, a good starting point is to look at names like cloud-based software stock Salesforce.com (CRM), a leading company in a top-rated industry group.
Along with Baozun (BZUN), ServiceNow (NOW) and Ultimate Software (ULTI), Salesforce is one of four stocks in the No. 1-ranked enterprise software industry group with the highest-possible 99 Composite Rating. Each of these stocks is also currently in or near a new buy zone.
RingCentral (RNG), which was featured in the Jan. 12 IBD Stock Analysis just as it broke out to a 40%-plus gain, is just behind its peers with a 98 Composite Rating. The provider of communication software jumped back into a new buy zone on Monday.
**** markets are fighting to get above their 50dma, so it that happens and you see strong volume breakouts in these stocks, that is a sign.
Box also breaking out which is nice to see. I think PSTG and BOX have years and years of hyper growth left in them with massive secular tailwinds.
A