Price Action Breakout concepts are same whether you apply in Indian market or US market. It’s a good list to follow on how these stocks will do over next six-ten months.
Occidental Petroleum OXY = Breakout
Occidental Petroleum is a play on higher Oil price plus ability to command premium for it’s Pipeline assets in Permian basin.
Target Breakout on move – thanks to strong earnings
Focus on stocks making new highs when the market is witnessing a correction in growth stocks. Two stocks to keep an eye on:
1. Ingersoll Rand @97
2. Target @ 81— Deepak Singh (@smarket) July 30, 2018
Target posted excellent earnings this week and no wonder stock took off in a big way.
Ingersoll Rand Breakout on move
Simon Property Group SPG Breakout on move
Simon Property Group – SPG – big mall operator breaks out above a significant resistance….Interesting very interesting
— Deepak Singh (@smarket) August 2, 2018
It seems the market is excited once again about traditional malls as they transition to become experential stores with lots of food and entertainment options. This REIT also provides 4.5% dividend yield which makes the breakout more attractive.
Medtronic Breakout on earnings
Eli Lilly Breakout on move
This is how Eli Lilly broke out
The Breakout that's happening this week: Eli Lilly is driven by Good earnings and IPO of Elanco Animal Health
Risk: Trump Administration working on a rule that will disallow PBM to negotiate drug prices to favor one drug over other pic.twitter.com/3jM3WGuwPc— Deepak Singh (@smarket) July 27, 2018
Eli Lilly Breakout on move
Merck joins the Breakout List
Canadian National Railway company in Breakout mode
Price Action Breakout concepts are same whether you apply in Indian market or US market. It’s a good list to follow on how these stocks will do over next six-ten months.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers