Major averages traded in a tight trading range, finishing flat on mixed volume. The People's Bank of China is taking a neutral approach to monetary policy at the current time as they focus on mending their economy. Central banks remain open to slowing their respective QE programs provided such action does not upset their fragile economies.
Focus List Notes:
ANET is holding tight over the past three days and found support at the 10-dma yesterday. Earnings are expected on 8/3, but this might be playable for a move ahead of earnings here using the 10-dma as a selling guide.
LITE sold down to its 10-dma on increased selling volume. This may present a lower-risk entry opportunity, but the higher selling volume means taking extreme caution and keeping a tight stop if the stock fails to hold support at the 10-dma or the 20-dema.
NFLX is gapping up this morning after reporting earnings yesterday after the close. Watch for a possible BGU to develop after the open.
TTWO is holding tight as the rising 10-dma and 20-dema approach the current stock price. Watch for any low-volume pullback to the two moving averages as a possilble lower-risk entry opportunity.
YNDX is holding tight as volume declines sharply following last Thursday's BGU move. The stock is currently in a lower-risk entry position using the 30.90 intraday low of last Thursday's BGU as a tight selling guide.
Market Lab Report - Premarket Pulse 7/18/17
|Published:||18 Jul 2017 09:19 ET|
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. ©2023 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.