5 PowerRatings Stocks for the Next 5 Days: UBNK, SQNM, JBLU, SMG, BVF
Stocks ended Monday mixed. Both the S&P 500 and the Dow industrials have dropped back into oversold territory below the 200-day moving average, while the Nasdaq rebounded more strongly on the first trading day of the week and is now in a more neutral mode below the 200-day.
Of the three stocks mentioned in my last’s report, “PowerRatings and Profit-Taking in Short ETFs,” one ended Monday up, one ended Monday down, and the third ended Monday way up.
That third stock was The Pantry Inc.
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PowerRating), which gained more than 7% on Monday. As such, this is not a stock that we still consider a high probability trade insofar as its move had already — at a minimum — begun. If you took at an opportunity to trade PTRY to the long side, consider taking at least partial profits.
United Financial Bancorp
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PowerRating) also advanced on Monday, though not quite as strongly as PTRY. Here, the stock is still in the neutral mode, but insofar as it has maintained a relatively high Short Term PowerRating, short term traders may want to keep an eye on UBNK for the possibility of additional upside.
Last but not least in our follow-up from last time is Sequenom Inc.
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PowerRating). Unlike PTRY and UBNK, this stock actually moved lower and, because it is still trading above its 200-day moving average, has become only more attractive as a potential buying candidate. Remember, when stocks are trading above their 200-day moving averages, buying opportunities are marked by the degree and severity of the pullback. The harder they fall, the more interested in them we become as short term, high probability, mean reversion stock traders and ETF traders.
So keeping both UBNK and SQNM on our list, I will add another three stocks to round out today’s 5 PowerRatings Stocks for the Next 5 Days.
JetBlue Airways Corporation
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PowerRating) Short Term PowerRating 8. RSI(2): 8.30
Scots Miracle-Gro
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PowerRating) Short Term PowerRating 8. RSI(2): 9.41
Biovail Corporation
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PowerRating) Short Term PowerRating 9. RSI(2): 7.35
Recall that stocks with Short Term PowerRatings of 8 have outperformed the average stock by a margin of more than 8 to 1 after five days. Stocks with Short Term PowerRatings of 9 have fared even better, besting the average stock by a more than 13 to 1 margin over the same time period.
Does your stock trading need a tune-up? Our highest Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days.
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