Watchlist Report: Stocks Breaking Out Into New Stage 2 Advances
Justin Smyth | Feb 26, 2015 12:51AM ET
Here's a new Watchlist with new additions to the list. The goal of this list is to identify stocks breaking out into new Stage 2 advances, which is an ideal time to purchase a stock that is getting ready to make a major move. The list will be pruned over time by removing stocks that have already made major runs, or removing stocks that breakdown into Stage 4 declines. The list will include names in Stage 4 declines that are possibly getting close to ending as well.
I entered into a position in Angie's List (NASDAQ:ANGI), which is still technically in a Stage 4 decline, but it is close to breaking above its 30-week moving average. ANGI had a breakaway gap on monster volume after earnings, and it's likely that gap could end its Stage 4 decline, which is why I took a position. ANGI also has a large short position against it which could provide fuel for a new advance.
Of the names currently on the Watchlist I also like Chegg Inc (NYSE:CHGG). It has a nice year-long base and broke out recently on big volume into a Stage 2.
h2 Stage Analysis: Watchlist Report/h2| Ticker | Stage | Weeks | Links |
| FSLR | 1 | 1 | G |
| SPWR | 1 | 1 | G |
| RNF | 1 | 2 | G |
| TWTR | 1 | 3 | G |
| AMKR | 1 | 3 | G |
| ROSG | 1 | 4 | G |
| BBRY | 2 | 1 | G |
| CHGG | 2 | 1 | G |
| TILE | 2 | 1 | G |
| CLRX | 2 | 1 | G |
| GT | 2 | 2 | G |
| RNG | 2 | 3 | G |
| ANTH | 2 | 3 | G |
| FEYE | 2 | 3 | G |
| ARIA | 2 | 3 | G |
| SPLK | 2 | 3 | G |
| GENE | 2 | 4 | G |
| SUNE | 2 | 4 | G |
| MVNR | 2 | 4 | G |
| AMZN | 2 | 4 | G |
| PPO | 2 | 4 | G |
| MCHP | 2 | 5 | G |
| RGLD | 2 | 6 | G |
| DNA.TO | 2 | 6 | G |
| SCIF | 2 | 7 | G |
| CUBI | 2 | 7 | G |
| MRVL | 2 | 10 | G |
| OPK | 2 | 10 | G |
| SLAB | 2 | 11 | G |
| ARRY | 2 | 11 | G |
| HASI | 2 | 11 | G |
| RUBI | 2 | 11 | G |
| CLDX | 2 | 12 | G |
| SIMO | 2 | 13 | G |
| POT | 2 | 13 | G |
| DE | 2 | 13 | G |
| AVG | 2 | 13 | G |
| CODE | 2 | 15 | G |
| SLGN | 2 | 15 | G |
| TNA | 2 | 15 | G |
| PAYC | 2 | 15 | G |
| TSEM | 2 | 16 | G |
| UWM | 2 | 16 | G |
| PLCM | 2 | 16 | G |
| EBIX | 2 | 16 | G |
| FLTX | 2 | 16 | G |
| TNK | 2 | 17 | G |
| NXPI | 2 | 18 | G |
| SJM | 2 | 18 | G |
| IPGP | 2 | 18 | G |
| APH | 2 | 18 | G |
| AGU | 2 | 18 | G |
| RGLS | 2 | 19 | G |
| MTSN | 2 | 24 | G |
| TNAV | 2 | 26 | G |
| INFN | 2 | 28 | G |
| DEPO | 2 | 28 | G |
| KSS | 2 | 30 | G |
| SWIR | 2 | 30 | G |
| AMBA | 2 | 37 | G |
| PTLA | 2 | 37 | G |
| BPY | 2 | 42 | G |
| MOH | 2 | 44 | G |
| EXR | 2 | 58 | G |
| CVTI | 2 | 75 | G |
| MU | 3 | 7 | G |
| AUQ | 4 | 2 | G |
| SGNL | 4 | 6 | G |
| STLD | 4 | 7 | G |
| BNFT | 4 | 7 | G |
| X | 4 | 9 | G |
| PLM | 4 | 21 | G |
| TGD | 4 | 23 | G |
| WYNN | 4 | 25 | G |
| LVS | 4 | 29 | G |
| URG | 4 | 41 | G |
| ANGI | 4 | 54 | G |
Get The News You Want
| Stage 1 | Stage 2 | Stage 3 | Stage 4 |
| 7.8% | 76.7% | 1.3% | 14.3% |
| Ticker | From | To | Links |
| FSLR | 4 | 1 | G |
| SPWR | 4 | 1 | G |
| BBRY | 3 | 2 | G |
| CHGG | 4 | 2 | G |
| TILE | 1 | 2 | G |
| CLRX | 1 | 2 | G |
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