Today was the first day in a good while that the market moved strongly to the downside. Several stocks have stalled recently, such as FN, BSFT, IESC, and MTCH. All four are up for possible removal tomorrow. FN closed below both trend lines, while the others aren't far behind. Please pay close attention to their price action tomorrow.
After hours today, OCLR moved up 10% and looks to be opening near $6 tomorrow. For new members, OCLR is still within buying range and I'm also likely to add to the portfolio position.
OCLR and FN are in similar fields, so before FN is sold I plan to let it trade for a while tomorrow and see if the price is able to recover some of today's down move.
Below are the charts for FN, BSFT, OCLR, and IESC.
As I mentioned on Sunday, several stocks from the watchlist would be reporting earnings this week. Today, CARB and HDSN both reported good quarters and have pushed higher. Depending on where HDSN opens, a new long position could be established. With CARB, a consolidation point is necessary before entering the trade. Both are setting up strong weekly chart patterns which is a key component to finding good trends to trade. Several other stocks to continue to watch closely and look for entries are CRHM, PRAH, CRY, and NPTN. NPTN is part of the OCLR, FN, LITE technology sector. I'll be watching NPTN to see its price reaction to the OCLR earnings report. If it begins moving higher then a position could be established in the portfolio. There was very little change in the screens today, so continue to scan the lists from Sunday.