Winning stock picks from the IBD50 have criteria that, once identified, lead to gains over the short term and long haul. When the market indices are cooperating as we see this morning, we can gain quick entry in the morning session and push stops higher soon after taking our new positions.
IBD50 Candidate Control4 Corp.
CTRL showed resilience last week when the markets moved lower. Instead of being sold like the majority of stocks, Control4 held its ground. It gained ground on Friday.
Stochastic and RSI is rising. MACD is turning and rising indicating bulls are taking control. With Bollinger Bands tight and expanding, price action has potential to rise quickly.
A +2.00 (MM) measured move or depth of current pattern could point to 26.94 in the short term, should we break above recent highs. Use the Trade of the Day setup (ToD) for initial entry and stops.
All of the stocks listed on the watch list in the upper and lower sections showed relative strength last week. Watch for similar criteria and reaction to bullish conditions this morning.
Have a great day,