5 Reasons To Like This Stock

Hello MarketClub members everywhere. We have come to the end of the week and it has been a welcome relief to see a little less volatility in the marketplace.

MarketClub's Mid-day Market Report

Looking through my Trade Triangles alerts last night, I noticed this one stock that has many of the winning characteristics I like to see in an individual stock. Let's go through them one by one:

1. All of the Trade Triangles are aligned and in a positive mode.

2. The stock is trading above its 50 RSI line.

3. The stock has broken out of a seven-month base.

4. The stock is fairly low-priced at $11.47

5. The stock has a favorable risk reward trade.

The stock I'm talking about is TerraForm Power, Inc. (NASDAQ:TERP). You may want to check this stock out as it is up 4.7% for the week and let me know what you think.

Gold (FOREX:XAUUSDO): The spot gold market is up 1.15% for the week as of last night's closing prices and continues to look positive in the longer run. I suspect that any setbacks in this market will find good support at the 50 RSI line. Intermediate upside target zone for gold is $1395-$1400.

Indices: After the previous week's volatility the indices have settled down and are little changed for the week. Both the S&P 500 (CME:SP500) and the Dow (INDEX:DJI) are slightly lower with losses of about 0.30% while the NASDAQ (NASDAQ:COMP) is just up 0.23% based on last night's closing prices. We continue to see a battle between the bulls and the bears and a trading range environment with no clear side having the edge at the moment. The only major index that is negative is the NASDAQ, which has both a monthly and weekly red Trade Triangle to the downside.

Crude Oil (NYMEX:CL.Q16.E): Crude oil is the big loser for the week or big winner if you are short. Crude is down 7.37% as of last night's closing prices. As I pointed out in my video update on Wednesday, I can see this market going still lower as the trend continues.

Stay focused and disciplined.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

4 thoughts on “5 Reasons To Like This Stock

  1. immediately checked price and saw it was at $12.24 . That.s 6.7% from the $11.47 above, plus 4.7% makes 11.4% . The smart money's already been made.

  2. Nice impulsive wave out of consolidation, good buying vol, I will be looking for a pull back to enter.

  3. Adam, it might be better to do these trading videos later in the day so you are more current on the moves of the day. I mean what happened yesterday in the DOW and S&P made you look bad. They blew through those resistance levels that you kept pointing to like nothing. Now, you have to consider if they will break their all-time highs!

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