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The William O'Neill CANSLIM scan outlined below as an Active Screen in our Premium Suite returned 45 stocks as of December 9th. If the stocks are ranked by Market Cap the top 8 stocks of the 45 become: Apple (AAPL), Baidu (BIDU), Research in Motion (RIMM), Celgene Corporation (CELG), Cognizant Technology Solutions (CTSH), Southwestern Energy (SWN), Intuitive Surgical (ISRG) and Netflix (NFLX). 



Of the first group of stocks, Research in Motion (RIMM) is shaping a cup-and-handle around $64 resistance and support at $60. A break of $64 sets up a measured move target of $83, although stiff resistance can be expected at $75. Apple (AAPL) is holding $320 support and is moving in steps with support at $300 (and again at $275). The measured move target for AAPL is $340. Baidu (BIDU) has been a consistent trend follower since its low in March 2009, moving from $10s to $110s. The past month-and-a-bit has seen the stock range bound between $104 and $115 and its not immediately clear whether the challenge and break will come from support or resistance. Whatever the break direction, a measured move target of $11 is to watch for.



The second group of four stocks show two stocks in clear downtrends and not offering too much for longs: South Western Energy (SWN) and Intuitive Surgical (ISRG). Netflix (NFLX) has eased back to rising support and offers upside potential back to channel resistance. Stops can go on a loss of $180. Cognizant Technology Solutions (CTSH) has also trended higher in a well defined channel, but is lying neither close to resistance or support. A drop back to channel support currently around $64 could offer some opportunity with reaction high support at $68.60 an alternative short term area for demand.