American Outdoor Brands Corp (AOBC) has had seven consecutive positive closes. On Thursday almost 2 million shares traded, that is almost double its normal trading volume. This stock has been punished with the election of President Trump. At the moment there is no fear of the second amendment rights disappearing. AOBC held its previous low close to $9.00 before breaking out the past couple of weeks.
Stocks to watch – FL, GBTC, DAR, and MNTA
Trade of the Week Archives
Wayfair Inc. (W) broke out from the beginning of May through the end of July. It then experienced over a 16% pullback to $107. It proceeded to hold its 50 day moving average before breaking out last week. On Friday larger than normal volume pushed W higher. The RSI continues to gain since the beginning of August. Keep an eye on Wayfair this week.
Stocks to watch – NDLS, MOMO, and SFIX
Lululemon Athletica (LULU) has been in consolidation between $120 and $130 for the past couple of months. It is still range bound but LULU did have four straight positive closes last week. THE MACD is looking like it could be getting ready to cross, and the overall apparel markets have been gaining nicely. It’s last breakout yield a return of 50% in a little over 2 months.
Stocks to watch – THO, ICHR, CCJ, and CBIS
Cronos Group Inc (CRON) has been range bound for the past five months between $5.50 and $8.00. Last week it held its 200 day moving average four days in a row. Volume is a bit weak but if CRON starts to move it could make an attempt at $7.
Stocks to watch – CGC, XES, ABX, and TEVA
Noah Holdings LTD (NOAH) gained almost 5% on Friday. The stock traded below its 200 day moving average before blasting above it last week. Lately, the Chinese stocks have been in correction mode with the talk of tariffs. NOAH had a bullish MACD crossover late last week. Lets see if that momentum stays in place.
Stocks to watch – BTU, CTRP, and UAA
Foot Lock (FL) began to breakout at the end of May. Since the middle of June it was been in consolidation and is holding at $52. The consumer discretionary sector had a strong second quarter, which Foot Locker is a part of. Volume has been light but FL may be getting set up for a 50 day moving average bounce.
Stocks to watch – CROX, SEDG, RHT and RL
Tenet Healthcare Corp. (THC) began its uptrend in January of 2018 and is currently up over 130% YTD. In April THC ran into its 50 day moving very briefly before blasting higher on strong volume. Last Friday, it once again tested and held the 50 SMA and began to move up. The RSI has been steadily increasing since the end of June.
Stocks to Watch – VALE, MO,ZNGA, and HST
Platform Specialty Products Corp (PAH) has been rallying for the past couple of months. It has done so on very strong volume. On Thursday and Friday of last week it held its 50 day moving average and began to move up. PAH climbed above -100 on the commodity channel index. On the two previous breakouts that CCI cross began an new uptrend.
Stocks to watch – IAG, DATA, TCEHY, and MOM
Pioneer Energy Services Corp (PES) began a massive uptrend in the beginning of May. For the past month. Last week PES pulled back to its 50 day moving average and began to rise on increasing volume. The slow stochastic, rsi, and cci have all been increasing over the past week. If this oil rally continues expect PES to increase in price.
Stocks to watch – IPI, TNK, and PDS
Penn Natl Gaming Inc (PENN) was range bound for over two months before breaking out at the end of April. On Thursday of last week PENN pulled back and held its 50 day moving average. Upon that touch price increased and higher volume followed. That trend should continue this week.
Stocks to watch – BLMN, SC, and NOK
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