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Market Lab Report - Premarket Pulse 8/23/16

Major averages finished almost flat near the top end of their trading ranges on lower volume, unsurprising after Friday's options expiration when volume tends to be larger.

As reported yesterday:

Japanese provider of a leading mobile networking platform Line (LN) is pulling back toward its 10-day moving average on a volume dry up (VDU) pattern. LN had an extended pocket pivot on 8-12 then launched to new highs on a U-turn pattern. It has since been in the process of digesting those gains. Buying closer to its 10-day line reduces risk. Earnings and sales are skyrocketing, group rank 11.

Keep in mind this is an IPO thus subject to greater than normal volatility so handle with care. We are long a position in LN.

Data driven enterprise platform provider Talend S.A. (TLND) had a pocket pivot off its 10-day moving average yesterday. TLND is an IPO so is subject to greater volatility. While it has only been trading for less than a month, such formations can work but handle with care. Sales are accelerating, group rank 6.

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. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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