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Market Lab Report - Premarket Pulse 4/27/17

Published : April 27 2017 at 8:59 ET

Major averages finished about flat though near the lower end of their trading ranges on mixed volume.

Futures are up slightly as March durable goods orders rose 0.7% vs. est 1.2%, and weekly initial jobless claims count totaled 257,000 vs. est 242,000. 

A number of leading Chinese names (BABA, JD, etc) continue to trend higher while BZUN attempts to mend its sharp pullback after its prior breakout.

MOMO undercut the prior 36.26 low in its pattern from last week after selling off at the open yesterday. It also undercut the 20-dema but was able to rally back above the line and close near the highs of its daily trading range. Also, the move back up through the 36.26 low created an undercut & rally (U&R) long set-up at that point, using the 36.26 level as a tight selling guide. The stock closed at 37.43 in what shows up as supporting action at the 20-dema.

NFLX broke out to new highs on Tuesday, and yesterday pulled back in towards the breakout point at 148.29. This puts it within buying range of the breakout.

SNAP has posted two five-day pocket pivots in a row along its 20-dema. We generally like to see clusters of five-day pocket pivots in lieu of a single ten-day pocket pivot. This puts the stock in a lower-risk entry position using the 20-dema or the 10-dma as selling guides.


This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2017 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.