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Long-Short Idea List: 03-15-19

Written by Lance Roberts | Mar, 14, 2019

The new SCAN TOOL also has several new screening parameters to include both fundamental factors (Piotroski Score) and momentum factors (Mohanram Score) along with Zack’s rankings.

HOW TO READ THE CHARTS

There are four primary components to each chart:

  • The price chart is contained within the shaded area which represents 2-standard deviations above and below the short-term moving average.  
  • The Over Bought/Over Sold indicator is in orange at the top.
  • The Support/Resistance line (green) is the longer-term moving average which also acts as a trailing stop in many cases.
  • The Buy / Sell is triggered when the green line is above the red line (Buy) or vice-versa (Sell).

LONG CANDIDATES

CRM – Salesforce

  • Two weeks ago we recommended CRM as a potential long.
  • With the 50-dma crossing above the 200-dma, a breakout to new highs, and a triggered “buy” signal, the bullish trend for CRM remains.
  • We said that with CRM being very overbought to look for a pullback to support to add exposure.
  • We recommended buying 1/2 position and add on a on pullback to $150-155.
  • That target was reached this week, and the rally this week keeps it on our long-list.
  • Stop moved up to $150

ALE – Alete, Inc.

  • ALE recently broke above its previous highs.
  • Currently, ALE is pushing 2-standard deviations above its intermediate term trend so scaling into the position makes some sense.
  • Buy 1/2 position now and 1/2 position on a pullback to $80 that holds.
  • Stop-loss is currently $78

AMT – American Tower Corp.

  • AMT was a buy recommendation several weeks ago, since then it has just gone parabolic and is grossly extended.
  • It’s time to take profits for now.
  • Sell 1/2 of the position and look for a pullback to $170 to add back holdings.
  • Stop-loss is $160

BLL – Ball Corp.

  • BLL was another long-recommendation we made previously which likewise has just gone vertical.
  • It is time to take profits out of the position.
  • Sell 1/2 of the position and look to add back to BLL on a pullback to support at $51 currently.
  • Stop Loss on balance moved up to $50

VZ – Verizon Communications

  • Note: We are long VZ in the Equity Portfolio
  • After several months of consolidation, VZ finally broke out to the upside.
  • A position can be added at current levels.
  • Stop is currently $55

SHORT CANDIDATES

AMD – Advanced Micro Devices

  • After a rally with the rest of the market, it looks like the trade is done for AMD.
  • Global economic weakness is likely to continue weighing on the semi-conductor space for now.
  • Parameters are very tight for this trade.
  • Short on break, and close, below the 50-dma ($21.50 currently)
  • Stop-loss is at $25

APA – Apache Corp.

  • The oil and gas drillers continue to struggle under weaker energy prices and the slowing economy doesn’t bode well for them in the near term.
  • The recent rally in APA is likely done and there is a reasonable short set-up on the position.
  • Short at current levels with a stop $35
  • Target is $26

BMY – Bristol Meyers Squibb

  • BMY continues to struggle currently.
  • The recent rally failed at the 200-dma and has now broken back below the 50-dma.
  • Short at current levels with a stop set at $54
  • Target is $46.

Anheuser-Busch InBev


  • BUD recently failed on a rally to its 200-dma which has defined its downtrend over the last 18-months.
  • Short at current levels with a stop at $82.50
  • Target for the trade is $65-67.50

COTY – Coty Inc.

  • COTY remains in a long-term downtrend and the recent earnings related rally did nothing to change that.
  • Short at current levels with a stop at $11.50
  • Target for trade is $6-7

Talk with an Advisor & Planner Today!

lance_sig

Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube

2019/03/14
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