Momentum Wrap – Nu Skin Goes Wild

on July 10 | in Uncategorized | by

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Apparently it pays to make anti-aging products in a country with 80 million baby boomers and they are not the only buyers of course. Nu Skin ($NUS), which is a recent St50 addition and one of the highlighted setups over the weekend, announced better than expected earnings guidance and broke out to new all-time highs. 6% of its float was short , which further fueled the momentum behind the move.

Other St50 stocks that made new all-time highs include: $ASGN, $QIHU, $TYPE, $ININ

Out of the 8 potential short squeezes that we mentioned yesterday, only $PLAB triggered. $CNQR from that list looks good for the rest of the week. Add to the list also $DDD, which is setting up again.
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Technology stocks ($QQQ, $XLK) outperformed substantially, while the continued strength in crude oil ($CL_F) kept the rest of the sectors at bay. There was especially pronounced strength in biotech stocks. $PCYC, which is one of the best performers of the past two years, gained 11%. Watch the momo leaders in the biotech space: $ALKS $BIIB $REGN $CELG, etc.
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We saw Notable movement in the software security space. $FTNT was upgraded and gained 5%. $CHKP broke out, $FIRE is setting up on all time frames.
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Some of the notable 52-week high breakouts on Wednesday include:

$BGFV (sporting goods). Watch $CAB from the same group.
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$YNDX, which is the biggest search engine in Russia is right below multi-year highs.
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