Yesterday, we had YNDX breakout from the Technical SetUps WatchList which is emailed out each morning in our Stock WatchList Morning Update report.

I sent out a BreakOut Alert on YNDX to all subscribers, just before 2 PM.

For those who bought, or for those who want to learn, here is a concise update…

Yandex N.V. operates an Internet search engine in Russia and internationally.

This stock was added to our Technical SetUps WatchList on 8/3 as I found it had solid ranks, good fundamentals and was building a base of consolidation near new price highs while trading above its 50-day moving average.

As I have continuously stated – I consider this “technically ideal” as there is no resistance in the way of further possible gains, while in the event of a pullback there is sound support (50 DMA) just below the BUY PRICE.

SYMBOL	CLOSE	ADDED TO WATCH LIST	BREAKOUT DATE	BREAKOUT PRICE
YNDX	$23.24	08-03-16	08-11-16	$ 23.31

1st SUPPORT	2nd SUPPORT	MAX STOP LOSS GUIDE	EARNINGS	CURRENT % GAIN/LOSS
50 DMA	$20.83	$21.44	10/25/16	-0.30%

Charts courtesy of StockCharts.com

On Thursday afternoon, shares traded above their TRIGGER PRICE of $23.30 with volume conviction of +71% above average. This bullish action always confirms a BUY signal.

Those who have taken my 7-Day Investing Course known that once a stock confirms a BUY signal and is added to your portfolio, the next thing you do is update the “trading criteria”. This includes adding a 1st SUPPORT, 2nd SUPPORT, and a MAX LOSS GUIDE. (see table above or contact me if you need help in setting these for your trades)

From here, obviously any above average volume declines (-p%/+v%) would be the first concern. There may be some support at the highs of the base near $23, however I am going to put our 1st SUPPORT at the 50-day moving average, which is currently at $21.64. Below there, we have the lows of the base near $20.83. The MAX LOSS GUIDE is always -8% below the BUY PRICE (BP x 0.92).

Going forward, you should continue to grade this holding by using the “3 Pillars of Analysis” – the (1) fundamental factors such as earnings estimate revisions using Zacks, and company news headlines. Also, note the (2) technicals each day by checking the “stock’s vitals”, meaning daily price/volume action, and also check the appropriate (3) ranks using investors.com or MarketSmith. From there, build and update a “Profile Analysis” and an overall Grade for this position. As long as it maintains a good Grade, hold it. If it gets weak and breaks your noted support levels, cut it before you lose much of any profit or it becomes a considerable loss.

This is how we do it.

If anyone needs any additional information, please let me known, as I would be glad to assist you.

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