Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for 5 years and we love doing it. Each night we detail 7 to 8 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. For those who would like to see a full copy of our Tuesday Game Plan, email me at chartsmarterblog@gmail.com.
In our Tuesday 5/26 Game Plan we looked at WST. The healthcare group has been strong overall, whether it has been the biotechs, pharma, device plays or the insurers. Stick you buy selections to the powerful groups. WST fell further beneath its 50 day SMA after its last earnings report on 4/30 losing 3.7% on the largest daily volume of 2015 thus far. We recommended a purchase above its 50 day SMA at 56 and then through a double bottom pivot of 57.74 and the stock is UP 6% and 2% respectively.
Stocks that can be bought as they take out their 50 day SMAs and added to above future valid base structures are WST.WST is among the healthcare group and is higher by 4% YTD and 31% over the last one year period. The stock has rose 3 consecutive weeks despite being 8% off recent all time highs. Its last earnings report on 4/30 was its first decline in its last 4, lower by 3.7%. Prior reports gained 2.5, 6.1 and 1.2% on 2/19, 10/30 and 7/31. WST did take out some nice bases recently with a long 10 month cup base pivot of 51.22 taken out on 10/31/14 and a cup with high handle pivot of 55.60 on 3/16. It now rests just beneath its 50 day SMA and enter with a buy stop above 56 and add to through a double bottom pivot point of 57.74.