Home » Ross Watchlist 7-19-2021

Ross Watchlist 7-19-2021

Published July 12, 2021

Horizon Therapeutics (HZNP)

Surge score: 65/100
% Above 52-wk low: 77.3%
MFI reading: 55
Sales growth: +49% TTM
Triple momentum: YES

Horizon has been surging higher since early 2017.

Shares took a breath at the start of the year and have been consolidating for the last six months.

The company fell shy of quarterly earnings expectations in May for the first time in three years, but the stock held up well.

The right side of the chart is getting nice and tight and selling volume appears to be declining.

I’m looking for a breakout above the ascending channel. A move above $97.05 will be my trigger to buy.

If filled, I will be working a stop below Thursday’s low at $90.80.

Albemarle (ALB)

Surge score: 87/100
% Above 52-wk low: 143%
MFI reading: 48
Sales growth: +12%
Triple momentum: YES

Albemarle’s fundamentals are a little weaker than I’d prefer, but the chart setup looks fantastic.

The stock has consolidated in a textbook cup and handle pattern.

A 25% cup depth and 10% handle would dictate a sell target near $218 on a breakout.

But volatility is high, and a lot of stocks are not seeing the usual follow through here lately.

So don’t be afraid to nail down profits early if ALB makes a decent move in the first 3-5 days.

My entry trigger would be $176.25 with a sell stop at $163.15.

Joint Corp (JYNT)

Surge score: 99/100
% Above 52-wk low: 532%
MFI reading: 77
Sales growth: +29%
Triple momentum: YES

Stocks don’t trend much better than this.

JYNT has a Surge Score of 99/100, and it is easy to see why.

The stock is up 503% for the last twelve months and showing no signs of slowing down.

Along the way, pullbacks have been minimal.

Sales growth is accelerating, earnings are up big, and the price action is picture perfect.

I’m looking for new highs to confirm that the trend is still in place.

My trigger to buy will be a break above $87.25.

I will then work a stop at $80.50.

Albemarle, Horizon Therapeutics, Joint Corp

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