EarningsBeats.com Digest for December 21, 2020
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Trading Places Live!
Join Tom Bowley for a briefing on market activity on Mondays and Wednesdays from 9-9:30 am EST before the opening bell. Click here to listen live or visit our YouTube page later today to view the recorded session.
Annual Holiday Special Extended through Today!
A FANTASTIC event this past Saturday: "Market Vision 2021" featuring Tom Bowley, David Shelby and Grayson Roze that was available to our Annual members. We want as many members of the EarningsBeats community as possible to get access to this VALUABLE information (including a significant number of individual stocks and
sectors showing tremendous strength) as we get ready to head into a new year. Accordingly, we are including a link below to our Annual Holiday Special - that we are extending through today - that includes two BONUS months, PLUS recording of the Market Vision 2021 event PLUS access to our new ETF service that will be officially kicking off January 1! Our BEST deal of the year by far.
Wishing everyone the very best of the Holiday Season!
This Previously Overbought Biotech Looks Better Now
While the stock market may appear too overbought from time to time to add positions, I'd argue against that. Rotation sends money towards some areas, while it takes money out of other areas. Even within the same industry group, some stocks are bought while others are sold. In my opinion, the best time to buy a stock is during a period of selling and/or consolidation. The following stock is Veracyte, Inc. (VCYT), which was flying high a
couple weeks ago, but ran into significant selling of late:
Check out the horizontal line on the RSI indicator panel. RSI 40 tends to provide solid buy signals during an uptrend. After VCYT had an overbought RSI for a few weeks, it finally saw selling with the RSI falling back into the 40s. I found VCYT by running a scan against our Strong Earnings ChartList (SECL), selecting all stocks with RSIs below 50. There were 66 such stocks out of the 491 stocks on the SECL. We're providing our
entire EB Digest community a one-time look at our SECL by CLICKING HERE. StockCharts.com Extra and/or Pro members can download this ChartList into their own StockCharts.com account.
Happy trading!
Tom Bowley, Chief Market Strategist
EarningsBeats.com
"Better Timing. Better Trades."
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