Last week, the major indices fell slightly. the NYSE composite dropped 1%, the S&P 500 and the Nasdaq each lost 0.6%, and the Dow slid 0.3%. Tuesday’s losses were enough to change the IBD outlook to “uptrend under pressure”. It’s not the best time to be making new purchases, think about raising cash.
However, if you insist on buying stocks with the market uptrend under pressure, this week, three watch list stocks, HS, ILMN, and ORCL are potential buy candidates. HS, trading at $38.54, is finding ten week support and is still slightly below a $38.85 buy point. ILMN, trading at $67.59, has formed a cup with handle base with a buy point of $71.15. ORCL, trading at $34.18, has formed a cup with high handle base with a buy point of $34.53.
/as usual, your mileage may vary, always do your own homework