Big Weekly Winners: Swing Trading with PowerRatings
Despite suffering losses on Wednesday and Thursday the market rallied on Friday to close the week, marking the fourth week in a row of gains for the S&P 500 and Dow indices. Traders reacted sharply to the announcements from the European Central Bank but stocks settled coming into Friday’s trading. The July jobs report from the Labor Department announcing an additional 163,000 jobs helped fuel the rally notwithstanding the unemployment rate remaining in the 8% territory for the month. The top performing stocks from this trading week came from the technology and services 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 27, 2012.
To learn more about PowerRatings, including how to swing trade stocks and ETFs with PowerRatings, click here.
Performance of 7/27/12 – 8/03/12 Trading Week
Web.com Group, Inc. (WWWW)
Shares of Web.com Group, Inc. surged this week after representatives announced a strong Q2 report detailing a broader customer base and a spike in revenue. The 15.53% gain came off the heels of a dramatic 17% loss the previous week, with WWWW now trading just barely below its 50-day moving average after the recovery.
- 7/27/12 Entry Price: 15.53 with a PowerRating of 8
- 8/03/12 Exit Price: 17.94
- Gain: 15.52%
Bridgepoint Education, Inc. (BPI)
Bridgepoint Education, Inc. shares sustained steep losses throughout July after one of its universities was denied certification last month. Recovering from last week’s losses, BPI gapped-up significantly on Wednesday and reverted into extremely oversold territory by Friday’s close with a 12.25% weekly gain.
- 7/27/12 Entry Price: 8.41 with a PowerRating of 8
- 8/03/12 Exit Price: 9.44
- Gain: 12.25%
Innodata Inc. (INOD)
After hitting a new 52-week high last month on July 10, Innodata Inc. reported a $2.4 million loss in revenue since the previous quarter and shares dropped steadily for most of the remainder of July. INOD spiked however on Tuesday amid a surge of insider buying and was able to sustain those gains to close the week with a double-digit gain.
- 7/27/12 Entry Price: 3.56 with a PowerRating of 8
- 8/03/12 Exit Price: 3.98
- Gain: 11.80%
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Joshua Glasgall is Editor in Chief of Connors Research