Major averages finished roughly flat yesterday, closing near the top end of their trading ranges. The Dow posted its ninth straight up day.
Focus List Notes
BABA broke out of its sideways consolidation on a pocket pivot after trading quietly near its 20-day moving average where shares could have been bought. Yesterday's move also have the look of a trendline breakout from a cup-with-handle base.
NTES managed to cleaer the $300 Century Mark, triggering Jesse Livermore's Century Mark Rule on the long side. This is a Livermorian sign of strength as a stock that makes it through a century mark on good volume is likely to continue higher.
SQ reported earnings last night as is gapping up this morning through its prior 15.99 all-time high. This sets up a possible buyable gap-up (BGU) this morning once the stock is able to set a firm intradeay low for the day.
FB broke out of its tight sideways consolidation on a pocket pivot move that also qualifies as a cup-with-handle breakout. The "voodoo" (volume dry up) action over the last few days made the stock buyable along the 10-day line before the break out.
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. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.