The IBD50 List this week looks poised for gains. Many of the names on the list meet criteria we like to see when choosing swing candidates. Most of these stocks have earnings over the next couple of weeks, so these will be short term positions.
Arista Networks, Inc. supplies cloud networking solutions in the US and internationally. ANET reports on 11/04/2016. Consensus estimates are increasing year over year.
The stock triggered a buy signal on Monday. We are interested at 83.00 or better, with a stop around 82.00. RSI is trending higher, which MACD shows bearish momentum is changing to bullish.
Aspen Technology, Inc., together with its subsidiaries, provides software and services to process industries globally. AZPN reports this Thursday 10/27/2016. We like this for a short term swing or an options play on earnings.
There is no overhead supply above current levels. RSI and MACD are suggesting higher prices. Apparently other investors think the stock is higher, considering recent volume. We like this stock at 47.75 or better, with 46.90 stop.
COMM looks ready to continue higher. We are looking for volume and a breakout of this pattern. If volume does not increase soon, we would likely consider this stock after earnings are reported on 11/03/16.
IYR bounced three weeks ago, sending real state shares and REITs higher.
COR is the recipient of recent industry group strength and a candidate from previous watch lists over the past two weeks.
Core site found buyers at the 200ma. The company reports on Thursday 10/27/2016. Th stock has changed trends, so a safer entry would be post earnings. We will likely review this stock again post-EPS.
Facebook reports in 11/02/16. Options may be the better way to play this stock, until after earnings are reported. Zuckerberg continues to add revenue streams to this monster.
View the additional names on the watch list with the same mindset. CPE as a pullback to support, GRUB as a continuation play (add) and MPWR as a play off the 50ma, similar to the weekend video newsletter commentary in the same context.
A few previous watch list names rolled forward to this week.
Futures are higher.
Happy Trading – Vinny
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up;
Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.