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We’re adding a stock to the watch list from the IBD50 and moving stops higher on stocks that moved higher on Monday. AEIS, BZUN, CTRL, NTRI, RHT, and YY moved higher on Monday. Most of these are higher in the pre-market session.
KEM – IBD50 – Electronics Components
Manufactures and sells passive electronic components under the KEMET brand worldwide. The company offers its capacitors for use in the automotive, communications, computer-related, industrial, consumer, military/aerospace, and alternative energy industries. The company sells its products to OEMs, electronics manufacturing services providers, and electronics distributors.
Technically, the stock is experiencing some bullish flow, despite following a distribution day on above-average volume last Friday. The stock held a VBP support and looks ready to follow through. Short-term target is the previous pivot high at 24.64. A loss of Monday session lows would stop the position.
NTRI is from the watch list. Look for continuation and move stops higher as this stock starts to accelerate. RSI and MACD are bullish. A break above 57.00 (bag holders) should bring 67.00 soon thereafter. With earnings three weeks away we’re thinking +5.00 from this level if it breaks above 57.00. We will reassess after this is accomplished.
Banks are outperforming as well, so we’re moving stops higher on many of these swing trades taken in September.
Happy Tuesday and Welcome to the New Members!