With the market pressing new highs I continue to look for stocks that have consolidated nicely after a strong move up. One of my favorite ideas right now is salesforce.com, inc. (CRM). After a strong breakout and close above the $135 area, CRM has digested the move and now looks poised to continue higher. I would look to pick CRM up on weakness today and I will add through the last pivot high of $142.50. Through that pivot there is no resistance until $147.50-$148. CRM earnings are not until May 18th and with the recent strength in cloud earnings I can easily see CRM catching a bid prior to its release.
Revisiting one of my long-time favorite names, Las Vegas Sands Corp. (LVS) looks ready for a move higher after a tight multi-day consolidation. Earnings come out on May 3rd and I am looking for LVS to breakout before that release. Above the consolidation I believe LVS has a clean shot to fill the gap at $47.75. Recently, Wynn Resorts, Limited (WYNN) had blowout earnings off of steady growth in Macau and continues to lead the sector.
*DISCLOSURE: Long LVS, CRM.
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs. Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.
