– James F. Taulman, former Editor-in-Chief of the first independently
licensed website to offer stock reports and services based on
the CAN SLIM® investment system.
All of This Weeks’ BreakOuts were first featured as they were setting up in our…
Stock WatchList: Morning Update
Before each market open we deliver our watch list of hand-selected, high-ranked stocks with specific buying criteria, knownn as our “Stock WatchList: Morning Update”.
So far, this week we’ve had only 3 breakouts from our watch list.
All three have thus far struggled to make any gains, yet none have broken their most-important support levels.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
% GAIN/ LOSS |
| PRFT | $32.28 | 6/9/19 | $32.38 | 6/13/19 | $34.00 | -0.31% |
| RNG | $118.16 | 6/9/19 | $125.37 | 6/10/19 | $131.64 | -5.75% |
| ARCC | $17.68 | 5/23/19 | $18.17 | 6/10/19 | $19.08 | -2.70% |
#3 Perficient, Inc. (NASDAQ – PRFT)
This stock just broke out Thursday from our Technical SetUps WatchList which was included in this week’s Sunday Stock Report.
Shares traded above the stock’s TRIGGER PRICE of $32.38 very briefly (<5 mins.) mid-afternoon as volume was running at about the normal rate.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
#2 RingCentral Inc (NYSE – RNG)
This selection broke out on Monday morning, yet closed its breakout day back below its TRIGGER PRICE, which is always a concern.
Shares went on to sell off -3.4% the next day.
The stock did close Thursday with a moderate bounce from its 50-day moving average at $115.45, and that is technically helpful.
Ranks do remain nearly as high as they can be for this selection, however, we need to see continued gains preferably with volume to negate the recent technical weakness.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
#1 Ares Capital Corporation (NASDAQ – ARCC)
Was a solid breakout on Monday as shares closed the day above the TRIGGER PRICE of $18.17 coupled with a +88% increase in volume.
The stock did, however, negatively reverse the following day, and that was obviously not a good sign.
Shares held up Wednesday, yet fell on Thursday as the stock went ex-dividend.
Thursday’s close happens to be right at the 50-day moving average which is where ARCC has found support several times since reclaiming that technical line on 1/30.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Although both ARCC and RNG have not violated support of their 50-day moving averages, we need to see each make an advance from these important technical levels. A break below (the 50 DMA) would b a clear SELL signal.
As far as PRFT – it just barely broke out yesterday. We will have to see how it follows-through on Friday.
The previous week was a bit more exciting with a total of 12 breakouts from the Technical SetUps WatchList alone.
Those, we could say, are performing overall better.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
% GAIN/ LOSS |
| NMIH | $28.79 | 6/6/19 | $28.95 | 6/7/19 | $30.40 | -0.55% |
| G | $36.78 | 6/2/19 | $36.89 | 6/7/19 | $38.73 | -0.30% |
| TNET | $69.13 | 5/23/19 | $65.19 | 6/7/19 | $68.45 | +6.04% |
| ADP | $164.45 | 5/18/19 | $165.60 | 6/7/19 | $173.88 | -0.69% |
| DHR | $139.42 | 6/6/19 | $134.92 | 6/6/19 | $141.67 | +3.34% |
| EME | $84.65 | 6/6/19 | $84.22 | 6/6/19 | $88.43 | +0.51% |
| SPGI | $224.45 | 6/6/19 | $222.10 | 6/6/19 | $233.21 | +1.06% |
| TREE | $388.47 | 6/6/19 | $401.05 | 6/6/19 | $421.10 | -3.14% |
| V | $169.35 | 6/6/19 | $165.84 | 6/6/19 | $174.13 | +2.12% |
| VRSK | $145.34 | 6/6/19 | $144.58 | 6/6/19 | $151.81 | +0.53% |
| AIV | $51.38 | 4/14/19 | $51.60 | 6/6/19 | $54.18 | -0.43% |
| AWI | $95.16 | 6/2/19 | $89.54 | 6/3/19 | $94.02 | +6.28% |
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PLUS: Get instant access to any current buyable breakouts and the latest watch list of high-ranked stocks which will be included in the next Stock WatchList: Morning Update. See which high-ranked stocks are breaking out or are looking poised to break out of their bullish bases.
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About the Site’s Founder
For more than 8 years James had served as Editor-in-Chief an independently licensed website that offered stock reports and services based on the CAN SLIM® investment system._________________________________________________
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