Major averages finished flat to lower on higher volume. The rate of ascent has slowed allowing the 10- and 20-day moving averages to catch up.
Focus List Notes:
NFLX closed six cents below its 20-dema yesterday on volume that was higher than the prior day's volume, but -15% below-average. The next level of support is the 50-dma, and one should be open to the possibility of NFLX morphing into an LSFB short-sale set-up.
TTWO reported earnings yesterday after the close and is gapping up about 12% this morning. This should be monitored for a possible buyable gap-up buy set-up if it can set a firm intraday low.
WTW gapped up yesterday after earnings and closed in the lower part of its gap-up trading range. The stock set an intraday low yesterday at 49.22 and closed t 50.87, so could be considered to be within buying range of that low while using it as a tight selling guide.
Other Focus List names are holding their own along with the major market averages.
Note that while holding a stock through earnings carries gap down risk, if you had sufficient profit cushion, you may choose to hold a partial or full position into earnings, depending on your personal risk tolerance levels.
Market Lab Report - Premarket Pulse 11/8/17
|Published:||8 Nov 2017 09:25 ET|
Like what you read?
Let us help you make sense of these markets by signing up for our free Market Lab Reports:
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. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.