Weekly Watch List


BIDU
LULU
MELI
CTSH
NETL
SHOO
HLF
EL
HSP

Additions:
EL

Subtractions:
None.

The roller coaster continued last week with all the major indexes were sharply higher. The NYSE composite jumped 5.8%, the S&P 500 climbed 5.4%, the Dow added 5.3% and the Nasdaq tacked on 5%. Last Wednesday’s higher volume gain on the NYSE indexes counted as a follow through day and the IBD outlook was changed to “market in confirmed uptrend”. It’s safe to buy stocks again, however, keep in mind that the previous two confirmed uptrends barely lasted a week each.

This week, one of the watch list stocks, CTSH, can be considered to be in a proper buy range. CTSH, trading at $53.46, has formed a cup with high handle and a $54.91 buy point.

/as usual, your mileage may vary, always do your own homework

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