Major averages sold off yesterday at the open but then pushed back to near breakeven on lower volume as sellers failed to materialize. Baby step moves have been the order of the day. Continued constructive action on the part of leaders has been pronounced over the last few weeks suggesting further upside as a number of leading stocks such as Tesla Motors (TSLA) and GW Pharmaceuticals (GWPH) continue their march higher.
3-D bioprinting company Organovo (ONVO) had a pocket pivot/buyable gap up through its 200day moving average, but keep in mind this company in thin so is subject to wild swings.
Network security infrastructure products Palo Alto Networks (PANW) had a pocket pivot yesterday coming up through its 10-day moving average. Earnings and sales are soaring, group rank 67.
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.