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Market Lab Report - VoSI Focus List Review for the Week Ended December 9, 2016

Published : December 11 2016 at 21:52 ET

Current VoSI Focus List

The VoSI Focus List is a compilation and reference list of stocks for which Pocket Pivot or Buyable Gap-Up Reports have been issued. It is not intended as a "buy list" or a list of recommendations. Stocks on the list may or may not be in proper buy positions, and investors should exercise discretion and proper judgement in determining when and where stocks on the Focus List can be purchased. The following notes are intended to assist in this process.

General Observations: We are adding Qualcomm (QCOM) back to the Focus List based on the recent action. The stock broke down hard last week but undercut the lows of its current base and rallied back up above the 50-day moving average. The rally did occur on light volume, which is wedging-type action, but the low-volume pullback followed by a close in the upper part of the daily trading range helped to "correct the wedge."

QCOM's weekly chart also shows a base-on-base formation with the prior week's price and volume bars indicating supporting action along the lows of the base. As long as the stock remains within this current base, it may make sense to try and enter the stock on pullbacks closer to the 50-day/10-week moving averages. In the meantime, we might also keep a close eye out for any pocket pivots that might develop along key moving averages ahead of earnings, which are expected to be reported in late January 2017.

QCOM is moving forward on two new fronts. The first is the company's move into making chips for the "connected car" theme that includes autonomous vehicle technology but which also extends well beyond that when it comes to the future configurations of all automobiles. The second recent move has been to collaborate with Microsoft Corp. (MSFT) to enable Windows 10 on mobile computing devices powered by next-generation Snapdragon™ processors, enabling mobile, power efficient, always-connected cellular PC devices. This is a key development as PC-type devices become more mobile.

The Trade Desk (TTD) is also being added back to the list after it was able to recover back above all three of its current moving averages, the 10-day, 20-day, and 50-day, following the prior week's base breakout failure. 

Eight of the ten stocks currently on the Focus List were added this past week in various Pocket Pivot Reports, so members should refer to our separate Market Lab Report sent out this weekend that reviews those reports for further detail on these names. 

Argan (AGX) and Nvidia (NVDA) constitute the other two stocks on the list. AGX is currently extended after we first reported on the stock on November 10 when the stock was trading at 58.80.

NVDA has been a long-term leader that has stayed on the list throughout its run since we first issued a Pocket Pivot Report on the stock way back on April 6 when it was trading at a "paltry" 35.80. NVDA has nearly tripled from there, and while it was hit with some heavy selling volume the prior week, the net effect on the weekly chart is that the stock simply appears to be trying to build a new base after a huge price run for most of 2016.


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.