Major averages rose yesterday on higher volume. A number of big cap stocks surged in price from constructive basing patterns on strong volume indicating institutional interest. While some major averages are still trading under their respective 50dma and 200dma's, the market appears to be rounding out its lows thus it is increasingly likely the market has found its floor.
A pair of pockets:
Network security infrastructure company Palo Alto Networks (PANW) - earnings and sales strong, institutional sponsorship increased since IPO over 8 quarters, group rank 72.
Semiconductor company Software Toolworks (SWKS) - accelerating earnings and sales, pretax margin 25.4%, group rank 12.
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. ©2018 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.