Last week, the major indices all made good upward progress. The Dow surged 2.4%, the S&P 500 and the NYSE composite both gained 2.0%, and the Nasdaq tacked on 1.9%. The IBD outlook remains at “confirmed uptrend”. Sell in May and go away? No way! Forget the clichés and listen to what the markets are telling you.
This week, four watch list stocks, ARUN, AGP, AH, and ORCL are potential buy candidates. ARUN, trading at $35.92, is still in buy range up to $36.61 after finding ten week support. AGP, trading at $68.30, found support at its ten week line and is in buy range up to $69.66. AH, trading at $28.24, found support at its ten week line and is in buy range up to $29.50. ORCL, trading at $35.96, is still barely within 5% of a $34.53 buy point after breaking out of a cup with high handle pattern.
/as usual, your mileage may vary, always do your own homework