TTG Proprietary Stock Screen with Charts 4/7/23 $TSCO $ZBH $LMT
Out of the Box MarketWebs Screen
Here is today’s TTG Proprietary Stock Screen using Volume At Price
End of Week Market / Macro Commentary
Quick Takeaway from the scan:
A decent amount of names on the scan and from all over the place, meaning multiple sectors. Just a reminder that the scan contains names breaking out on multiple timeframes, that are not extended on any timeframe. More defensive areas like Consumer Staples & Health Care are showing strength (high quantity of names and after that it is a variety of other sectors. One other important point to make is that the $NYSI McClellan Summation Index has an active crossover with its 10d MA (see below chart), which means that for now the breadth trend is recently expanding.
Bottom Line: Breadth has expanded - THIS IS A GOOD THING. However, it is not just hot growth names breaking out, it is also Value & Defensive type names. Keep an open mind.
Remember, I am only showing a few setups from the list here and review more in the TTG Trading Room. I provide a more detailed watchlist every weekend to start the week at TTG.
Charts
TSCO Weekly & Daily chart
Tractor Supply Company operates a retail farm store chain in the United States. The Company provides farm maintenance, animal, general maintenance, lawn and garden, light truck equipment, work clothing, and other products. Tractor Supply serves ranchers, hobby, part-time, and full-time farmers, as well as rural customers, contractors, and tradesman. (Bloomberg)
-price is checking back to the top of the Apr Value, the breakout point (see 2nd chart)
-suggested stop price $232 from the TTG MarketWebs
ZBH Weekly & Daily chart
Zimmer Biomet is the top global manufacturer of reconstructive implants used in knee or hip replacement surgery. It makes a variety of other orthopedic devices including shoulder implants, bone and tissue grafting materials, sports medicine products, dental implant systems, spinal implants, and trauma products for broken bones (such as screws). Additionally, Zimmer Biomet makes medical equipment used in orthopedic surgeries, and related surgical products. The company's products are sold around the globe, primarily in the Americas (generates about 60%). (Bloomberg)
-suggested stop price $126 from the TTG MarketWebs
LMT Weekly Daily chart
Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide. (Bloomberg)
-LMT is breaking out of a 6mo consolidation period
-suggested stop price $479 from the TTG MarketWebs
Remember, this is just one type of screen / setup that I focus on in my analysis!
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