EarningsBeats Digest

Published: Wed, 01/20/21

EarningsBeats.com Digest for January 20, 2021

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.

Model ETF Portfolio Unveiled

In yesterday's webinar, Chief Market Strategist Tom Bowley unveiled 7 ETF's that now make up the Model ETF Portfolio that are meant to be held the next 90 days. The prior Model Portfolio was closed out after rising almost 17% compared to the S&P 500 of 11% during the same period of time. This Model Portfolio is now available to all EarningsBeats.com members- including those on trial. Sign up for a 30-day NO COST trial to get access to the ETF Portfolio by clicking on the link below!

Click Here!

A 2020 Leader Breaks Out of a Bullish Continuation Pattern

While I haven't been a big fan of health care stocks of late, there are individual stocks that have outperformed that we want to keep watching. Medical equipment ($DJUSAM) has seen its share of relative ups and downs over the past several months, but one component stock, iRhythm Technologies (IRTC) is strengthening after months of consolidation. We haven't seen the breakout to a 52-week high, but a bullish breakout of an inverse head & shoulders pattern has taken place. That suggests to me that IRTC could be off on another big run:

A little more than a week ago, IRTC appeared on one of our favorite scans at EarningsBeats.com, our Downtrend Reversal scan. This scan searches for stocks that have printed lower intraday highs for 5 consecutive sessions before reversing and printing a higher intraday high. It's now on a heater back to the upside, clearing neckline resistance in a bullish inverse head & shoulders continuation pattern. This pattern measures to roughly 310 and I believe it'll get there. I would like to see volume accelerate on a breakout above 270, though.

Happy trading!

Tom Bowley, Chief Market Strategist

EarningsBeats.com

"Better Timing. Better Trades."