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Below are several candidates from the IBD50 that meet our criteria.

We like to see RSI rising, preferably oversold and pushing through 50. In addition, price should be ready to breakout of a recognizable pattern and MACD/STO should be following a 10e/STO/MACD arrangement. If all goes well, the stock may trigger a SAR buy signal soon, or recently having done so on above average volume. While most setups do not meet “all” of the criteria, many will exhibit enough to keep us interested. The more criteria that confirm, the higher our odds of success.

We are anticipating AMAT will lead Nasdaq semiconductor stocks higher this week. Citigroup among other analysts recently raised their profit targets on AMAT to 37.00. RSI and stochastic are gaining, while MACD has yet to reverse course. If price gets above 30.90, AMAT will move to 52 week highs, where there is no overhead supply.


Biogen (BIIB) has been on the watch list for over two weeks. RSI suggests we may push off the upper trend line soon. If biotech and pharmaceutical stocks show strength this week, BIIB may continue higher. (Watch XBI IBB and LABU)biib

Carbonite (CARB) is new to the IBD50. The company offers backup and security data solutions for business and industry. SOTEMA is decidedly bullish.


Callon Petroleum (CPE) exhibits strength in the energy sector. Price is a dollar above the pattern shown, but has yet to breakout to 52 week highs. RSI, MACD and increasing volume suggest it might continue this week.


Convergys Corp. (CVG) is new to the IBD50. Price should continue grinding higher if the industrial sector (XLI) follows through this week. RSI and a recent MACD cross suggests CVG might break higher.


Inphi Corp. (IPHI) is another semiconductor exhibiting bullish interest. This candidate is a carry over from previous discussions. RSI is moving higher while MACD crossed last week. The stock has been on a buy signal for three weeks.


Macom Technology Solutions (MTSI) gives us reason to believe price can continue through to new 52 week highs this week. RSI is trending, while MACD reflects momentum that should produce a bull cross very soon. Look for volume.


MaxLinear Inc. (MXL) continues its winning ways. Recent bounces from the 200ma will likely help propel this candidate back to recent 52 week highs.mxl

Zimmer Biomet (ZBH) is breaking out of a tight triangle consolidation. Medical equipment stocks have quite a few candidates ready to break higher in partnership with ZBH. Check IBD for its competitors with similar fundamentals if you like the group as much as we do. RSI and MACD continue to trend higher.


We have a few more potential candidates for this week. Look for those charts before the opening bell.

Happy Trading – CV

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