MLR - PMP 3/20/15
Major averages finished mixed yesterday on lower volume. The NASDAQ Composite is closing in on 5000 once again. Futures are trading strongly higher by more than 0.6% at the time of this writing which would put the NASDAQ at an opening price of over 5020. Today is quadruple witching which means heavy trading volume.
Internet content provider Tencent Holdings (TCEHY) gapped higher on a strong earnings report. It did not trade enough for a pocket pivot but given its size and volume traded on the day, it qualified as a buyable gap up in context with its overall chart. Note, this company is an ADR which tends to gap up and down within its pattern. Earnings are accelerating, pretax margin 37%, ROE 34.8%.
Cell-based cancer immunotherapy company Juno Therapeutics (JUNO) had another pocket pivot. We reported on this company's pocket pivot when it had one a few days ago. Group rank 1.
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