Home » Watchlist Week of July 25th, 2022

Watchlist Week of July 25th, 2022

Enphase Energy, Inc. (Long Idea)

I have been talking about the strength in solar stocks for several weeks now, and Enphase Energy, Inc. (ENPH) is one of my favorites.

TradingView Chart
Daily Chart of Enphase Energy, Inc. (ENPH) – Source: TradingView
  • Surge score: 98/100
  • % Above 52-wk low: 93%
  • Sales growth: +46%
  • Return on Equity: 74%
  • Triple momentum: yes 

The stock is completing a textbook breakout pattern, with volatility compressing as pullbacks have shallowed from left to right.

The pivot area is around $220. 

A move above that level has a high probability of leading to a strong move to the upside.

McKesson Corporation (Long Idea)

Despite a hideous bear market in the first half of 2022, McKesson Corporation (MCK) stock has been surging.

TradingView Chart
Daily Chart of McKesson Corporation (MCK) – Source: TradingView
  • Surge score: 97/100
  • % Above 52-wk low: 79%
  • Sales growth: +12%
  • Return on Equity: N/A
  • Triple momentum: yes 

Shares are up 34% year-to-date, and most of that move occurred in just the first quarter.

After making new all-time highs, the medical supply company began consolidating in April and now looks ready to break out for another leg higher.

There are definite signs of accumulation in the base, and volume is drying up as price is tightening at the end… Exactly what we want to see.

Consider buying on a move above $336 with a sell stop at $315. This equates to a 6% risk on the trade.

Consolidated Water Co. Ltd. (Long Idea)

Consolidated Water Co. Ltd. (CWCO) is a small-cap company focused on treating and supplying water products to customers in the Cayman Islands, Bahamas and British Virgin Islands.

TradingView Chart
Daily Chart of Consolidated Water Co. Ltd. (CWCO) – Source: TradingView
  • Surge score: 97/100
  • % Above 52-wk low: 61%
  • Sales growth: +14%
  • Return on Equity: 2%
  • Triple momentum: yes

The stock made a powerful move higher in May, advancing 40% in just one month. Shares then pulled back and consolidated in the $14 area.

A look at the volume candles below the chart shows clear signs of accumulation (large buying) and very little selling. 

This is a good sign that may point to institutions building large positions in the stock.

Consider buying CWCO on a move above $15.00. 

This is a smaller stock with lighter trading volume, so I want to see a large volume spike on the breakout for confirmation.

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Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

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