Pocket Pivot Review - TEAM, WIX, FIT 8-30-16 and notes on LN, TWLO, SQ

Published : August 30 2016 at 17:33 ET

Pocket pivots:

TEAM - has had two 5-day pocket pivots in a row. 5-day pkts qualify when they are preceded by low volume, constructive price formation. TEAM bounced off its 50-day line and now appears to be moving higher with greater conviction. 

WIX - Extended here, but watch for a constructive pullback to its 10-day line. WIX gapped higher on its prior earnings report. 

FIT - This is a bottom-fishing pocket pivot (BFPP). FIT is rounding out its base. The time value could be big here as its next point of resistance is 13% away at its 200-day line. When a stock with the right technical pattern is still near the bottom of its base, it can sometimes make big strides in a matter of a few days. 


LN - low volume retest of 20-dma.

TWLO - constructive low volume last two days after bounce off its 20-dma.

SQ - nice low volume pullback into 10-dma.

This information is provided by Virtue of Selfish Investing, LLC (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, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.