Both previous CwH picks broke out and have met their target prices.
The screen has been yielding no picks for a couple weeks, but tonight’s picks have made up for that. I say that because visually, these charts are hot. Visual appeal may not translate into guaranteed profits, but if you have looked at lots of charts, you can see that these issues look primed to move.
Crown Holdings, Inc. [[CCK]] Profit target at $29.21
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Hawaiian Holdings, Inc. [[HA]] Profit target at $8.87
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Philip Morris International Inc. [[PM]] Profit target of $51.55 (This target price is too low. Perhaps $55 is better.)
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Stewart Information Services Corporation [[STC]] Profit target of $14.90
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May your breakouts be many and often!
me likes HA, thanks.
What are you using for stops on these, Wood?
I’ve backtested it using the handle low as a stop. For some of these, that will be really really tight and will probably need some added cushion.
It seems the market is slowly making a shift back to momo from mean reversion, and if that is the case, the CwH type setups are going to start working really well after almost a decade of not working so well. IBD should be thrilled!