EarningsBeats Digest

Published: Fri, 11/13/20

EarningsBeats.com Digest for November 13, 2020

Join Tom Bowley with Special Guest Bill Shelby for

"Advanced Scanning Strategies"

Today, 10:00am EST

Join Tom Bowley, Chief Market Strategist, EarningsBeats.com and Bill Shelby, Lead Software Engineer, StockCharts.com for a very informative and educational webinar TODAY at 10:00am EST.

Tom will demonstrate how to combine the powerful research platform at EarningsBeats.com with tailored pre-defined scans to produce high reward-to-risk trades. Bill Shelby, who created the scan engine at StockCharts.com, will share tips and tricks to help StockCharts and EarningsBeats members create more meaningful scans to zero in on EXACTLY the types of trades you're looking for.

Click on the link below to join the webinar. Room will open at 9:30 am EST.

Click Here!

This Could Be The Best Stock In The Most Improved Industry

It's always encouraging to see new leaders emerge among industry groups and there's no doubt that commercial vehicles & trucks ($DJUSHR) has done exactly that in recent months. Quanta Services (PWR) has been a leader in this space, which can be seen in the chart below. Also, focus on the two dotted vertical lines. The first green vertical line marks the absolute bottom in the DJUSHR. The second blue vertical line marks the relative bottom in the DJUSHR:

PWR has every detail I like to see in a core holding. It's been leading its peer group since February and the S&P 500 since May. As price action moves higher, so too does its accumulation/distribution line (AD line). That's confirmation in my view that PWR is being accumulated by institutions. In the most recent surge since mid-September, PWR has shown excellent volume to accompany the higher price action, which also confirms this bullish move. Finally, the DJUSHR itself has become one of the best relative performing industry groups vs. the benchmark S&P 500. The $DJUSHR:$SPX weekly PPO has just broken above 4, placing it among the top handful of industry groups in terms of weekly relative momentum. That type of relative strength is what lands companies in our portfolios at EarningsBeats.com.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
Better Timing. Better Trades.