Stock Picks for Friday August 17
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On Tuesday, I mentioned PulteGroup, Inc.(NYSE:PHM) as a potential breakout play. Sure enough, the stock broke out today. Technical chart shows very strong bullish sign. I'm using
today’s high of $13.75 as resistance for Friday. A break above that
area could trigger further bullish momentum and keep the bullish
scenario intact. You should use the pullbacks as an opportunity to add fresh longs.
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D.R. Horton, Inc. (NYSE:DHI) had a great move on the upside and closed
at 18.92. The stock is inching closer and closer to another breakout
move. Volume looks like it is picking back up and the technical indicator MACD has crossed over. Look for a break above the 19.31 level to enter longs.
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Weyerhaeuser Company (NYSE:WY) broke out on good volume. The stock hit a high of $24.50, which is
resistance for the follow through move. You should watch this stock
closely on Friday.
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Sarepta Therapeutics Inc (NASDAQ:SRPT) had a strong surge on big volume
today. The stock is poised for a breakout to new 52-week highs, but it
may pull back a bit and consolidate before it moves up again. On watch.
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FormFactor, Inc.(NASDAQ:FORM) - On the technical daily chart above, you can see that the
accumulation/Distribution line is gradually increasing indicating people
are buying shares rather than selling them. Additionally, Slow
Stochastic is way oversold and the Chaikin Money Flow is improving
again indicating more buying than selling pressure. According to Yahoo
Finance, FORM has $5.56 per share in cash and has a book value of $6.65,
so these shares are trading below cash levels and book value.
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Labels: DHI, FORM, PHM, SRPT, WY
