The major indexes have seen steep slides this week, with the DOW posting significant consecutive losses.
Industry giants like Caterpillar (CAT) and 3M (MMM), which have been deemed as the crystal balls of the market, have made moves to the downside after publishing concerning financial reports.
Despite the weakness, our technology continues to find bright spots in the markets.
Below is MarketClub’s technical take on 3 stocks on the move.
#1 – Repligen Corporation | RGEN
Repligen is an American company devoted to the development and production of materials used in the manufacture of biological drugs. The company is based in Waltham, Massachusetts, and incorporated in Delaware in 1981.
Smart Scan Score: +100
Our proprietary Smart Scan technology confirms that a strong uptrend is in place and the long-term trend remains positive.
On 4/10/18, a long-term Trade Triangle detected the presence of a very strong trend driven by strong forces and insiders.
Intermediate-Term Trader: Long position
Long-Term Trader: Long position
Get the Next Trade Signal for RGEN
#2 – Amerisafe | AMST
AMERISAFE Inc is a specialty provider of workers’ compensation insurance to employers engaged in hazardous industries, mainly construction, trucking, manufacturing, oil and gas and agriculture.
Smart Scan Score: +90
Our proprietary Smart Scan technology suggests that this market will remain positive long term. Look for this market to remain firm.
Last long-term Monthly Trade Triangle was issued on 7/20/18.
Intermediate-Term Trader: Long position
Long-Term Trader: Long position
Get the Next Trade Signal for AMST
#3 – Meridian Bank Common | MRBK
Meridian Corporation operates as the bank holding for Meridian Bank that provides commercial banking products and services for retail and commercial customers primarily in southeastern Pennsylvania, Delaware, and south New Jersey.
Smart Scan Score: -100
Our proprietary Smart Scan technology confirms that a strong downtrend is in place and the long-term trend remains negative.
On 1/30/17, a long-term Trade Triangle detected the presence of a very strong trend driven by strong forces and insiders.
Intermediate-Term Trader: Short position
Long-Term Trader: Short position
Get the Next Trade Signal for MRBK
When you join MarketClub, you’ll have complete access to some of the web’s best trading tools and signals for over 320K stocks, ETFs, futures, forex or mutual funds.
