The medical sector has been outperforming. QCOR, maker of drugs to treat disorders of the central nervous sytem, is both a buyable gap up (BGO) and pocket pivot (PP) in today's trade. Earnings and sales have nicely accelerated over the last 3 quarters. Industry group rank is 13th out of 202 groups. Institutional sponsorship has increased over the last 7 quarters. Overall rating is 99.
QCOR BGO+PP remains valid as long as it does not close at the low of its trading range AND below its 50dma. If it does one or the other, it is not as strong, so only a smaller than normal position could be bought, if at all. If it does both, it would be prudent to wait-and-see, buying in subsequent days if it shows strength.
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