Big Weekly Winners: Swing Trading with PowerRatings
After 3 consecutive days of gains this week, stocks slid back on Friday amid worries surrounding further bailout measures for Span’s financial industry. A tepid opening on Friday set the pace for the day’s trading with majority of the main indices closing in the red. Positive earnings reports boosted markets throughout the week and with several influential tech companies scheduled to release their respective reports in the upcoming week, earnings will continue to drive trading. The top-performing stocks from this trading week came from the technology and basic materials sectors.
The stocks in this week’s Big Weekly Winners: Swing Trading with PowerRatings all earned PowerRatings of 8 or higher one week ago on July 13, 2012.
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Performance of 7/13/12 – 7/20/12 Trading Week
Mellanox Technologies, Ltd. (MLNX)
Mellanox Technologies, Ltd. had a fantastic week, hitting a new 52-week high on Thursday after announcing very strong Q2 results. Heavily spiking in volume during Thursday’s trading, MLNX reported more than twice its Q2 sales from the previous year and has garnered high expectations for Q3 growth from most analysts.
- 7/13/12 Entry Price: 66.07 with a PowerRating of 8
- 7/20/12 Exit Price: 89.24
- Gain: 35.07%
Stratasys Inc. (SSYS)
Also hitting a new yearlong high on Thursday, Stratasys Inc. shares have performed impressively so far in 2012. Specializing in the development and manufacturing of 3D printers and rapid prototyping systems, SSYS has grown steadily alongside the rising demand for additive manufacturing devices.
- 7/13/12 Entry Price: 47.54 with a PowerRating of 8
- 7/20/12 Exit Price: 56.64
- Gain: 19.14%
Terra Nitrogen Company, L.P. (TNH)
As grain prices have skyrocketed amid pervasive droughts that continue to wither crops, nitrogen fertilizer companies like Terra Nitrogen Company, L.P. have benefited as producers strive to boost their shrinking yields. TNH reversed from very oversold to overbought throughout this week’s trading.
- 7/13/12 Entry Price: 204.50 with a PowerRating of 8
- 7/20/12 Exit Price: 228.91
- Gain: 11.94%
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Joshua Glasgall is Editor in Chief of Connors Research