Major averages finished mixed yesterday on lower volume. The NASDAQ Composite is closing in on 5000 once again. Futures are trading strongly higher by more than 0.6% at the time of this writing which would put the NASDAQ at an opening price of over 5020. Today is quadruple witching which means heavy trading volume.
Internet content provider Tencent Holdings (TCEHY) gapped higher on a strong earnings report. It did not trade enough for a pocket pivot but given its size and volume traded on the day, it qualified as a buyable gap up in context with its overall chart. Note, this company is an ADR which tends to gap up and down within its pattern. Earnings are accelerating, pretax margin 37%, ROE 34.8%.
Cell-based cancer immunotherapy company Juno Therapeutics (JUNO) had another pocket pivot. We reported on this company's pocket pivot when it had one a few days ago. Group rank 1.
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.