January 27, 2013
Uncategorized
By Geoff Bysshe
It’s always fun to find stocks with everything going in the right direction. You do need to be careful about paying up because when everything looks too good – Wall St. has often pushed the price as far as it will go. Sometime the overbought condition is short term, and sometimes it’s a real top. However, if the good news reflects a change in trend, then there is often more good news (and higher prices) to come.
With that warning, there are a few standout stocks from Friday’s earnings reaction list. I’ve not had time to do extensive research on these names but based on the fact that they responded remarkably in price and volume, beat estimates on EPS and revenues and issued improved guidance, they are worthy of my attention for the next several weeks at least. The stocks that meet all these criteria are: QLGC, SYNA, COV, OSK, and PG.
The daily charts in all of these names suggest that the size of Friday’s move will lead to digestion before any trade should be considered, but the weekly charts reinforce my feeling that this earnings report is worth paying attention to as a real “heads up” for good trades ahead.
Another stand out in Friday’s list is EFII which I cover in another blog post if you click here.
All of this, and I’m sure more, can be found in the screen shot below.
