Five Stocks To Watch
The
Nasdaq finished out one more day of positive action as the index
increased over 1% on heavier volume than yesterday. This
heavy volume indicates that institutional dollars were moving into the market.
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Many leading names have been
attempting moves through resistance. Some of them have
continued higher while others have not.
United Online
(
UNTD |
Quote |
Chart |
News |
PowerRating) made a move through
its pivot point at 40.72 on 9/18. Volume was very heavy,
but since then the stock has returned to this level and made very little
upward progress. The recent pullback has been on lighter
volume, so technically the stock still looks healthy.
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USANA
(
USNA |
Quote |
Chart |
News |
PowerRating) made a solid move
through a double-bottom base with a pivot point of 50.10 today.
The company carries with it excellent financial strength.
The move has succeeded so far, but it is still early.
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Network Appliance
(
NTAP |
Quote |
Chart |
News |
PowerRating) gapped through a potential pivot
point at 19.94 on positive news on 8/20. After pushing
higher, the stock has been stuck in a recent attempt to digest those gains.
It would be positive to see NTAP hit new 52-week highs above 24.32, but
this also acts as a handle for a multi-year base that can be seen extending
back to 10/2000.
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American Healthways
(
AMHC |
Quote |
Chart |
News |
PowerRating) is in
the midst of a volume-backed move out of a recent base.
The stock pushed through 40.85 and popped a dollar higher in about 20 seconds
today! The medical/dental services group it is in has
produced some outstanding winners in recent months including recent buyout,
Advance PCS
(
ADVP |
Quote |
Chart |
News |
PowerRating).
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Every stock that starts to
push higher is not going to succeed and hand out profits.
It is important to have solid loss-cutting and profit-taking rules in place.
If 1 out of 3 or 4 stocks work that you are picking, it can still
increase an account if proper sell rules are in place. We
remain in a very solid market that is flashing all of the right signs for an
extended run. The most recent trait I have welcomed has
been the increase in the number of deals. The calendars
are filling up with Initial Public Offerings (IPOs) and Secondary Offerings,
https://biz.yahoo.com/ipo/ .
IPO’s are a chance for the next leaders of the stock market to be
produced.