EB Watch List Update Report
Dear Members, Chris Hopkins, our technology guru, has provided information on how you can click on a Watch List chart (from the Trading Strategies page) and get a LIVE update from StockCharts. He's also shown you steps how to annotate those charts and save them to a list of yours at StockCharts. Let us know if you have any questions, but hopefully you'll find this to be a valuable feature as we muddle our way through the next several weeks of earnings season. Below is today's update..... ADDITIONS TO WATCH LIST: Nothing is being added at this time, although both iGate (IGTE) and JP Morgan (JPM) are being evaluated technically after solid results. BRIEF COMMENTS ON WATCH LIST STOCKS: Large Cap Watch List: A - is strengthening after trading in its gap support zone for a couple of trading sessions. VMW - was 4 dollars off its recent low and within 1 dollar of its now-declining 20 day EMA. With earnings up in a couple weeks, it's not a bad time to remove this one off its rally. I know it hasn't generated much in the way of profits, but if it pulls back again, your hands may be tied. I prefer cash at this point. Mid Cap Watch List: AYI - climbing on light volume. Respect the short-term price resistance near 98.50-99.00. In other words, small profits are not a bad idea if you own this one - at least until it can show enough buyers to force a breakout. ASNA - is a specialty retailer, which is probably a group being impacted mightily by the government shutdown. Second entry at 19.15 has not yet triggered as ASNA vacillates back and forth in its gap support zone. BRCD - performing well, bouncing off 8.00 support. Continues to trade beneath its rising 20 day EMA intraday, only to rally above it later in the session. FINL - an intraday hammer has printed on the rising 20 day EMA. It would help if this reversing candle holds into today's close. GPN - continues to trade well. It's range bound for now, 53.75-57.00. HAR - the rally is alive off the false breakdown beneath support on Wednesday. 70-71 would be a nice level to take short-term profits on a continuing rally. KFY - breaking out today. Holding above the 22.25 level at the close would be bullish. The accumulation recently on this one is apparent. UNFI - approaching recent high on light volume. Profit taking would be in order if you own it. Small Cap Watch List: FSS - breakout on Thursday occurred on heavy volume. Breakout (bull flag) measures to 16.60. DELETIONS FROM OUR WATCH LISTS: VMW - with earnings approaching and the top of gap support recently being violated, I don't want to take any chances here. I'd move to cash. Have a great weekend! Hopefully you can enjoy it with family and friends! Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com