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PPR - Investor education on pocket pivots vs buyable gap ups

JAZZ did not qualify the last two days as actionable even though it had a pocket pivot on both days. Given the questionable choppy action of the general market, the lagging action of leading stocks, and the failure of most stocks to trend in recent months, a stock must show considerable strength to taken under consideration. This strength can be in the form of relative price/volume strength. Since November 28, JAZZ has somewhat lagged the general market, up until today's gap up.

With today's gap up, its technical pattern redeemed itself, tilting it to being actionable.

The company announced yesterday after the close that they are raising guidance for 2012 from $3.39 to $4.00-$4.15, a substantial jump.

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.
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