These candidates are culled from the Stochastic Improving Scan. Stocks herein are flagged and ranked by performance as of market close.
Scan criteria: stochastic is below 20 and turning higher. MACD in most cases is turning more bullish or has crossed in recent days. Volume is increasing and above average. Relative strength (RSI) is rising or crossing above 50.
Stochastic Improving Scan
| SYMBOL | NAME | CLOSE | CHG | % CHG | VOLUME |
|---|---|---|---|---|---|
| CAR | CAR – Avis Budget Group, Inc. | 280.56 | 12.89 | 4.82 | 1696017 |
| NFE | NFE – New Fortress Energy LLC | 40.41 | 1.63 | 4.20 | 1000801 |
| SWCH | SWCH – Switch, Inc. | 31.00 | 1.14 | 3.82 | 4037030 |
| MAXR | MAXR – Maxar Technologies Ltd. | 33.03 | 0.82 | 2.55 | 487228 |
| CORT | CORT – Corcept Therapeutics Inc. | 22.05 | 0.54 | 2.51 | 1064105 |
Corcept Therapeutics (CORT) bounced off the 200d on Friday, setting off a follow through on Monday. Stochastic is turning rather briskly, while RSI heads towards 50. MACD is showing bears are losing control or covering/taking profits on the bounce. Volume is picking up again as well.
The company reports earnings after the close on Thursday May 5.
The company develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States.
The company reported Q4 earnings of $0.26 per share on revenue of $98.8 million. The consensus earnings estimate was $0.22 per share on revenue of $101.5 million.
Revenue grew 15.3% on a year-over-year basis.
“The company said it expects 2022 revenue of $400.0 to $430.0 million.
The current consensus revenue estimate is $414.75 million for the year ending December 31, 2022.”
We’re waiting for the FOMC decision and earnings before taking any new swing positions.
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Happy Trading,
Vinny
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