It’s Tuesday already!
That means that we have lost a day to the Labor Day market holiday yesterday to trade my three newest stocks, which I’ve researched and vetted for you using my Stock Surge Indicator (SSI) system.
You now have to step it up and get to work now to make the most of the shortened week and the three new surge stocks that I’ve put on the Watchlist.
Let’s not waste any more valuable time and get straight to the three new surge stocks for this week…
Livent Corporation
Livent Corporation (LTHM) is in the business of taking lithium and making it into useable compounds.
Its products are used across various industries from battery makers, agricultural chemical companies, pharmaceutical companies as well as a host of other companies in varied industries.
Lithium is of course one of the most plentiful of elements on the planet – but it is hard to gather/mine in meaningful amounts.
And when it comes out of the ground – that’s just the start of making it work for countless products, including for batteries that have become must-have ubiquitous items the world over.
Here’s how the stock is set up in the chart:
Daily Chart of Livent Corp. (LTHM) — Source: TradingView
And here’s how the stock sets up with the SSI system:
- Surge score: 95/100
- % Above 52-wk low: 236%
- MFI reading: 60
- Sales growth: +57%
- Triple momentum: yes
Since being spun off from FMC Corporation (FMC), which is a more than century-old company that has its founding in the origins of mechanized crop chemical applications, Livent is one of the only pure investment plays on the lithium market.
Technically, LTHM is completing a huge cup-and-handle base pattern that started back in January.
The stock has also been riding the 20-day moving average (green line) perfectly for the last month.
I’m looking to buy the breakout into new high ground above 27.28.
DexCom
DexCom (DXCM) is a leading medical device designer focused on diabetic monitoring systems.
The frontline product provides continuous monitoring of glucose (sugar) levels in patients that can be transmitted in real time to physicians and healthcare professionals.
Diabetes is unfortunately a very wide-spread disease with dire consequences if not monitored and treated throughout each and every day.
And DexCom continues to capitalize on its expertise to provide lifesaving and life-enhancement services with its products.
Here’s how the stock is set up in the chart:
Daily Chart of DexCom (DXCM) — Source: TradingView
And here’s how the stock sets up with the SSI system:
- Surge score: 90/100
- % Above 52-wk low: 75.7%
- MFI reading: 59
- Sales growth: +32%
- Triple momentum: yes
DexCom develops glucose monitoring systems for patients with diabetes.
The stock is showing a lot of strength. After a quick 66% move to the upside, shares retraced by only 8% on the pullback.
This is a sign of limited profit-taking and typically an indication that investors believe the stock has much further to go.
Technically, a high-tight-flag pattern requires an advance of at least 100%. But this one is close. And the shallow retracement gives me confidence in a continuation higher.
Stepping out to a monthly chart, this appears to be the early stages of a longer-term move higher.
Monthly Chart of DexCom (DXCM) — Source: TradingView
The last base breakout led to a 192% move higher, so those looking for a swing or position trade may also find interest in this setup.
Medpace Holdings
Medpace Holdings (MEDP) provides outpatient medical services and treatments around the US and worldwide.
It covers a wide variety of medical treatments from diagnostics to actual treatments involving heart ailments, blood, cancer and a host of other medical and health issues.
Here’s how the stock is set up in the chart:
Daily Chart of Medpace Holdings (MEDP) — Source: TradingView
And here’s how the stock sets up with the SSI system:
- Surge score: 84/100
- % Above 52-wk low: 85.6%
- MFI reading: 55
- Sales growth: +36%
- Triple momentum: yes
Medpace stock rose 86% in six months before topping at 196.12 in late April.
Shares corrected following earnings, but the retracement was capped at 20% making it a healthy pullback.
Price action then tightened to a 6% range before breaking out higher last Wednesday.
As I’m writing this on Friday afternoon, MEDP is within pennies of making new all-time highs.
Traders may consider buying a move to new highs.
Consider placing a stop in the $180-$185 range.
This level served as resistance during the summer months and should act as support in the event the stock breaks down.
Embrace the Surge,
Ross Givens
Editor, Stock Surge Daily
The post It’s Time to Put These 3 Stocks to Work appeared first on Stock Surge Daily.
