This week's Jim's Picks are the following bullish picks: Herbalife (HLF), CenturyLink (CTL), Ancestry.com (ACOM), InterDigital (IDCC), Core Labs (CLB), and bearish picks: Nordic American Tanker (NAT) and Oceaneering International (OII).
What is the PatternDNA view?
|Stock ||No. of |
|Average Return |
Per Trade (> 5 day)
A quick review of the five day projections shows a less than stellar start for Wednesday (1-day) with CenturyLink (CTL) and InterDigital (IDCC), but with a more broadly bullish advance by next Tuesday (5-day) for these two stocks plus Core Labs (CLB) and Nordic American Tanker (NAT). Nordic American Tanker (NAT) is given a 72% probability for a higher close on Thursday.
The 5-day Pattern for Nordic American Tanker (NAT) also has the strongest outlook over the long term; 88% of trades using an initial stop of 10% with an adjusted stop to 5% after a 15% gain (profit target of 25%) close in profit, with an average return per trade of +8.5%.
Only Herbalife (HLF) offered a somewhat disappointing +3.0% average return per trade off 57.3% winners.
Based on PatternDNA analysis the outlook for these stocks looks good over the long term which may indicate the market has not finished rallying yet. For next week, Jim's bearish-watch Nordic American Tanker (NAT) is the one which might offer bulls the most joy.