I posted this on another board, but thought it might be ok info for here. If you like or are holding some of the listed stocks, they are near IBD buy points and could give you the incentive to buy more if they breakout.
The board posts a number of screens for growth stocks that might be good hunting ground for members of this board.
http://discussion.fool.com/ibd-pivots-32944652.aspx
First a breif review of the markets:
We are down to 2 distribution days on Naz and 1 and S&P thanks to some more falling off the list due to time (25 trading days).
…While the stock market indexes have kept rising, it’s been more of a holder’s market. Those who bought shares in quality stocks months ago are padding the gains. But new money is having a more challenging time.
Breakouts have been either scarce or they lacked strong volume.
…
Where does this leave the individual investor? Here are two items to keep in mind.
First, the stock market remains in a confirmed uptrend and it has shown an ability to handle adverse financial news. Yet, a pullback would be no surprise. Watch to see how the market reacts if that happens. Ideally, bulls want to see soft trade on a pullback.
Second, hold where possible, but be careful with new buys. Until breakouts begin to spread, boldness is not appropriate.
-------------------------Bases forming, but not ready:-------------------------------
ALGN, AMAT (late stage), CGNX, SQ (may form), SHOP (144.04 potential), TEAM (51.87). For SHOP and TEAM I have seen IBD give them a pivot poing in one place and say the base is forming in another.
----------------------------Pivot Points -------------------------------
Here is a dump from my tracking spreadsheet. It shows Friday’s price, the pivot, % above or below pivot composit rating, #rank in group, and some notes.
HTHT, FB, ABMD are in buy range already. ABMD, NVDA, are late stage. WUBA is third stage base with 79.89 pivot but they also say the base is too short because it shot up too fast - so maybe it will form a handle for us over the next week or so.
Look for breakout volume that is 40% better than average.
Below, column pvt% is % above or below pivot/buy point
5% max is the highest price to pay before it is too far extended from breakout
Stock Price Pivot Pvt% 5% Max COMP # in Group Notes
loma $24.18 $24.20 -0.08% $25.41 90 1 1/2: grout D-
vmc $131.90 $135.02 -2.31% $141.77 66 4 1/3:lots of reds
wuba $79.57 $79.89 -0.40% $83.88 99 1 1/3: a couple yellows, late stage.
splk $87.88 $84.98 3.41% $89.23 99 1 1/3:all green
fb $186.85 $184.35 1.36% $193.57 99 - 1/4: all green
adbe $185.34 $186.37 -0.55% $195.69 98 1 1/4: all green
ipgp $242.34 $248.33 -2.41% $260.75 99 1 1/4: group yellow
pypl $78.70 $79.48 -0.98% $83.45 99 1 1/4: all green
wb $120.86 $123.10 -1.82% $129.26 99 1 1/4: EPS 81 yellow
team $51.87 $53.55 -3.14% $56.23 98 1 1/4: all green base stil forming?
nvda $215.40 $218.77 -1.54% $229.71 97 1 1/6: all green but see warning note
oled $179.30 $192.85 -7.03% $202.49 98 1 1/6: all green
anet $236.77 $245.75 -3.65% $258.04 99 1 1/6: distribution is Red D-
baba $190.70 $191.85 -0.60% $201.44 99 1 1/6: all green
tho $154.87 $156.96 -1.33% $164.81 99 1 1/6: all green
pypl $78.70 $79.48 -0.98% $83.45 99 1 1/6: all green
payc $83.88 $86.20 -2.69% $90.51 99 3 1/6: all green
adbe $185.34 $186.37 -0.55% $195.69 98 1 1/6: all green
tal $32.62 $36.26 -10.04% $38.07 99 1 1/6: EPS yellow
wuba $79.57 $79.89 -0.40% $83.88 99 1 1/6: EPS and SMR yellow
abmd $202.32 $200.38 0.97% $210.40 98 2 1/6: all green
shop $110.58 $124.04 -10.85% $130.24 84 15 1/6:potential base forming. EPDS 69 red, others poor
bzun $36.03 $37.08 -2.83% $38.93 98 4 1/6: bouble bottom base, all green
NVDA note: The stock’s new, potential entry may seem like a chance to jump into a tech leader. But a closer look at the chart reveals a key shortcoming: the Relative Strength line remains below the current base’s high, meaning that any breakout has greater odds of failing. It also comes after a massive run-up in 2017 that saw shares nearly double.
Links:
Alibaba: https://www.investors.com/stock-lists/stock-spotlight/how-to…
SQ: https://www.investors.com/news/technology/square-retakes-50-…
IPGP, Arista, Tencent: https://www.investors.com/market-trend/stock-market-today/wa…
Others: https://www.investors.com/stock-lists/sector-leaders/a-new-y…