I love when stocks are making life-time highs. Especially when those highs are the first all-timers since the first days or weeks following an IPO.
That is precisely what is happening with $NVCR which came public in October 2015, printed a high of $30.89 in the days around that initial offering, then hasn’t traded anywhere near there since. Until this month…
— Sean McLaughlin 📈 (@chicagosean) May 29, 2018
On Thursday of last week, the IPO high was finally pierced and you have to believe the stock isn’t going to stop there. The volume wasn’t exactly gangbusters heading into the holiday weekend, but there is signs the crowd is taking notice, and HOLLY seems to agree as she got involved earlier in the week. I wouldn’t be surprised to see a high volume push higher coming in the next few days, especially if broader markets hold firm.
We’ll be adding $NVCR to the List today at the open (Tuesday May 29, 2018) and we’ll keep the name active on the list until we experience a 20% pullback. Size your trade accordingly.
HOLLY Hot List Portfolio Update
The biggest driver far and away over the past 5 trading days has been $GDS, delivering +20% in gains. While a second notable performer has been $USAT which popped higher out of the high flag that had caught my attention in the first place. Gotta love it when a plan comes together! 😉
Meanwhile, $PSTG has been the biggest laggard, pulling back 13% since it’s high print for us on 5/22, $NTNX is looking for a floor on it’s recent pullback, and $FITB is making up it’s mind whether or not it wishes to close the gap from Monday of last week.
At the end of the day, I’m pleased that nearly every update here has me adjusting trailing stop loss levels higher in at least a few names — meaning we’re finding new highs in our positions regularly. That’s Alpha.
If you’d like to learn how HOLLY, the Artificially Intelligent Virtual Analyst, can improve your trading and investing results, please visit Trade Ideas.
Good luck out there!
~ Sean McLaughlin (@chicagosean)