MLR - PMP 5/30/14
Major averages rose on lower volume. A number of potential leaders continue to flash actionable buy points. Given that sizeable number of actionable stocks over the last few days, the uptrend seems intact.
Medical company Align Technology (ALGN) had a pocket pivot as it rounds out its base. Earnings are robust, institutional sponsorship has increased 4 quarters in a row, pretax margin 24.3%.
American Airlines (AAL) had a pocket pivot Tuesday and is still trading within buying range as it is poised to break out of its base. It is an airline stock with gives us pause but the group has an 11 ranking, and earnings and sales are accelerating nicely. While in general a slower moving group, airlines have acted reasonably well throughout the market's prior correction.
Anika Pharmaceuticals (ANIK) had a pocket pivot breakout. We reported on this stock's pocket pivot on May 27 when it first became actionable.
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