Hi, I’m Andy! I’m a freelance writer and restaurant manager, and I have also been following ChartYourTrade.com since the day it launched. This post is a review of the performance of the 10 Elite Stock Setups that Adam sent to his Advanced Stock Reports subscribers on Saturday, December 29, 2018. Each setup comes complete with annotated charts highlighting the advanced entry point and support level(s), as well as all of the necessary fundamental information.
Despite missing New Year’s Day on Tuesday, there was still plenty of action happening both early and late this week. We saw two of our stock setups rocket up through Adam’s entry points to close out 2018, and then we saw two more work their way above buy points at the end of the first week of 2019.
In addition to the four stocks that triggered their buy points this week, there were also quite a few that held up better than the overall market at different points throughout the week. Let’s jump in and see how each of our 10 elite stock setups did this week.
The General Market
In order to properly evaluate what each of our ten elite stock setups did this week, we need to look at them with the context of the general market fresh in our minds.
After closing out the year with a pretty calm day on Monday, the market opened 2019 lower on Wednesday before buyers showed up to push prices higher. However, the exact opposite happened on Thursday when the market opened lower again and those buyers failed to come in as they did on Wednesday.
Friday was an entirely different story as the market opened higher and then climbed throughout the day to close right near the high of the week.
This puts the market well off of the lows we saw before the Christmas holiday, but it still has some serious work to do if it wants to get back above the 50-day and 200-day moving averages.
CIENA Corp. – Triggered
CIEN was able to post a strong day on Monday to close out the year. Then, after following the market a bit higher on Wednesday and then lower on Thursday, the stock shot off like a rocket on Friday and made it all the way up to close right at Adam’s entry point.
It currently sits well above its rising 50-day and 200-day moving averages and looks to be one of the strongest stocks in a market that is finally beginning to show some signs of life.
Workday, Inc. – Triggered
WDAY was another stock that triggered Adam’s entry point this week, and it did so in pretty much the same way that we saw from CIEN. The stock was able to follow the market higher on Wednesday, pulled back with the market on Thursday, and then took off higher closing up above the entry point on Friday.
In addition to breaking through and closing above Adam’s entry point, WDAY is also seeing its 50-day moving average start to pull away from its 200-day line, which is always a sign of strength in a market that might be starting to recover.
Wayfair Inc. – Did Not Trigger
Things weren’t great for all of our stock setups this week, and W was one of the two on our list that went against the general market and posted a loss on the last trading day of 2018. The stock was able to flow with the general market during the first few trading days of 2019, but the losses on Thursday were significantly larger than the gains on Wednesday or Friday.
W never even got close to challenging Adam’s entry point this week, and it’s 50-day moving average is continuing to pull down from its 200-day moving average.
Eli Lilly & Co. – Triggered
If you were following along with Adam’s stock setups throughout the week, you were excited to see that LLY managed to trigger its entry point as the year came to a close on Monday.
However, 2019 has not been great for the stock thus far. It opened the year below its entry point, then continued lower on Thursday and was unable to recover on Friday.
Looking forward to next week, LLY is still above both of its significant moving average lines, and it is right within striking distance of breaking through Adam’s entry point once again.
Merck & Co., Inc. – Did Not Trigger
MRK was another stock that finished 2018 strong on Monday as it closed the year right below Adam’s entry point. But just like we saw from LLY, the stock started off 2019 with two straight losses that saw it drop below its 50-day moving average on Thursday.
A big positive day on Friday brought MRK back above its 50-day line. The stock was able to recover all of its losses from Wednesday and Thursday, and it is sitting right below Adam’s entry point heading into the first full week of 2019.
Church & Dwight Co, Inc. – Did Not Trigger
Over the past few weeks, we’ve seen a lot of stocks that were able to demonstrate strength despite the fact that they didn’t break through Adam’s entry point. CHD was one of those stocks this week.
After closing out the year on a positive note Monday, the stock fell below its 50-day moving average on Wednesday and failed to recover on Thursday. However, it still held up better than the general market on Thursday and was then able to close back above its 50-day line after a positive move on Friday.
CME Group Inc. – Did Not Trigger
CME had a very similar week to what we saw from CHD. After finishing last year on a positive note, the stock opened 2019 with a down day. Then it lost its 50-day moving average with a big drop on Thursday. It rebounded on Friday to close just above that critical 50-day moving average.
This certainly wasn’t a good week for CME, but just like we saw with CHD, it is sitting above rising 50-day and 200-day moving averages and isn’t too far from that entry point line.
Omega Healthcare Invs, Inc. – Did Not Trigger
OHI was one of the closest stocks to the entry point that Adam identified for it coming into the week. But after a down day on Monday, it gapped down below its 50-day moving average on Wednesday.
The stock was able to recover most of those losses on Thursday and Friday, but OHI is still sitting just below its 50-day moving average, as well as Adam’s entry point.
VMware Inc. – Triggered
VMW was the wildest stock on our list by a mile this week. After shooting up through Adam’s entry point on Monday, it started out the new year with a down day on Wednesday followed by another big loss on Thursday.
The stock was able to recover on Friday and closed well above that entry point right at the high of the week. It now sits well above both significant moving averages, and its 50-day line is starting to separate from its 200-day line.
Finisar Corp. – Did Not Trigger
FNSR started out the week tracking right along with the general market, but after Thursday’s losses took it right down to its 50-day moving average, it was unable to bounce off of that line while the general market was heading higher on Friday.
In a perfect world, we would obviously like to see more than four of our elite stock setups get above Adam’s entry points in a given week. But we don’t live in a perfect world, and the market has been rough across the board for the past few months, so the signs of strength that we did see this week are definitely worth noting moving forward.
Make sure you subscribe to Adam’s Find Leading Stocks newsletter to get this weekend’s updated list of stock setups, as well as his FLS Playbook that breaks down what our model portfolio is going to be doing in the week ahead.