3 Stocks I'm Watching For 7/12/17

Puma Biotechnology broke out back in May of 2017 around the $45 area & has been digesting that parabolic move ever since. I'll be watching for a close on the hourly chart at ~$88.50 for an entry in $PBYI. Earnings are scheduled for 8/7 for $PBYI so we have some time to own this one before that date.

Celgene Corporation is one of the top holdings in both major Biotech ETF's ($IBB, $XBI). $CELG has formed a bull flag on its daily chart from it's most recent breakout of the $125 area. I'll be watching for an hourly close above $133 on volume for an entry in $CELG.

Square, Inc. broke out today over the $24.78 area on above average volume. You commonly see stocks retest their breakout areas, so I'll be watching to see if $SQ comes back in close to $24.78. RSI on the daily chart above is still only around ~65, so not quite into overbought territory. This tells me $SQ could have a lot further to run up.

Sector Update - Biotechs & Utilties Stand Out

Biotechs Weekly

Biotechs have been taken out to the woodshed ever since July of 2015.  The reasons are numerous from Activist' disagreement (Valeant), overvaluation, & even negative political targeting by both parties.  Regardless, the $XBI looks to be acting healthier & to have formed a bottom on the weekly chart above.  A close above $61 will pique my interest into starting a position. 

Utilities Weekly

Utilities have seen the best sector performance of 2016 with a 19.8% increase.  They have come in some on the weekly chart above & the $XLU is testing it's 10 Week Moving Average.  It has held this line well in its run up in 2016.  I'll be watching closely for a close above $51.25 on Friday to put on a position.