Major averages were mixed on lower, below average volume yesterday. Leading stocks, however, continued to shine, suggestive of the continuation of this uptrend. Barring some unforeseen news, expect lighter preholliday volumes as Thursday is a half session and Friday is closed for Independence Day with an upside bias.
Chinese provider of automobile pricing and reviews Bitauto (BITA) had a pocket pivot. Earning and sales which are stellar are accelerating, institutional sponsorship growing last 4 quarters, group rank 55.
Medical systems manufacturer Illumina (ILMN) had a pocket pivot / breakout from the handle in its base yesterday. Pretax margin 25.1%, sales are accelerating, group rank 44.
Palo Alto Networks (PANW) had a buyable gap up/breakout yesterday after Morgan Stanley came out and put a $104 price target on the stock. This comes after we reported on its last pocket pivot on June 26 which came on the heels of its May 29th buyable gap-up.
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. ©2019 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.