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Momentum Wrap - The Medical Devices Index Clears All-Time Highs | StockTwits 50StockTwits 50 | The best stocks with the best setups

Momentum Wrap – The Medical Devices Index Clears All-Time Highs

on January 9 | in Daily Update | by

new highs Jan 9

New Highs

 61 New All-Time Highs among stocks that gained 1% or more. Some of the largest gainers: VIPS PERI AMBA SSYS N SFUN TMO COR

156 Stocks reached new 52-week highs while appreciating 1%+. Some of the notable movers include:

  • Many of the fresh breakouts are following through, which is usually a sign of a healthy market; Some recent examples: $GEOY  $DGI $RNF $LNN
  • Yes, there are some failed breakouts too; it is normal. It is the nature of bull markets = sector rotation+ low correlation
  • There have been quite a few breakouts among medical devices and instruments stocks lately. No wonder that the ETF itself – $IHI is breaking out to new all-time highs from a very long base
  • The overall market breadth continues to be strong with new highs from various industries: homebuilders, chemicals, air delivery, property insurance, REITs; even $FDX (which is considered a good economic bellwether) is approaching levels not seen since 2007.

StockTwits 50 Notables

  • $V and $MA reached new all-time highs after an upgrade from Goldman Sachs; both have had quite a run over the past 5-6 months, so it won’t be a surprise to see some profit taking here;
  • $AZZ broke out to new all-time highs and failed intra-day;
  • $N and $TYL cleared new highs too.

 

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