Results of Ramki’s watchlist of the week of 16 Aug 2021
The following was published on Saturday 14 August 2021 for the upcoming week of 16 August.
1. ENLV: (Enlivex Therapeutics Ltd) Friday Closing: $10.17
Looking to buy in 2 stages. One at $9.80 and the other at $ 9.54. Average will be $9.67
Stop loss at $9.10
ENLV opened the week with a gap up at $11.92, and rallied directly to $13.18. Then, on the following day, 17 August, it declined to a low of $9.41, triggering the two buy orders with an average rate of $9.67. On 18 August, the stock rallied to a high of $10.75, a gain of over 11%.
2. VPG: (Vishay Precision Group, Inc.) Friday Closing: $38.08
Looking to buy in 2 stages. One at $37.20 and the other at $ 36.70. Average will be $36.95
Stop loss at $36.00
On 16 Aug 2021, VPG dipped to a low of $37.48 and then rallied to a high of $39.71. Then, on 19 August it dipped to a low of $37.14, triggering a buy at $37.20. The stock then rallied to $38.04, a gain of over 2%
3. PLMR: (Palomar Holdings, Inc) Friday Closing: $84.51
Looking to buy in 2 stages. One at $83.05 and the other at $ 82.25. Average will be $82.65
Stop loss at $81.00
This stock dipped to a low of $77 on 17 August, there by triggering bith the buy as well as stoploss respectively at $82.65 and $81.00, resulting in a loss of 2%. It then rallied to a high of 87.46, which of course, is of no consequence to us as we are out of the trade.
Thus, all three stocks had action points, resulting in a net gain of around 11%
As for the stocks on India watchlist, here they are:
1. BRTI : (Bharti Airtel Limited) Friday Closing: Rs673.05
Looking to buy in 2 stages. One at Rs610 and the other at Rs595. Average will be Rs602
Stop loss at Rs570
The stock dipped to the first buy level of Rs 610 in the last 10 minutes of market time for the week and closed at breakeven levels. This idea of course is no longer valid as the week is over.
2. HCLT: (HCL Technologies Limited) Friday Closing: Rs1119.45
Looking to buy in 2 stages. One at Rs1070 and the other at Rs1040. Average will be Rs1055. Stop loss at Rs1025 (I must be strict about these stops)
This stock has not dipped to the buy area for the week.
3. TEML: (Tech Mahindra Limited) Friday Closing: Rs1383.15
Looking to buy in 2 stages. One at Rs1255 and the other at Rs1220. Average will be Rs1240. Stop loss at Rs1140
This stock also did not enter the buy area for this week.
Announcement: I had indicated that this product was launched on an experimental basis, and that I could stop offering it in the future. That time has now arrived and I am pulling the plug on the weekly WatchList! I know this will be disappointing for many of you. But I continue to offer help via the online Elliott Wave Program as well as my consulting service. I will also occasionally send out emails about chart packs (which will be priced at 1 unit). I thank you for your confidence in my work. It is always a pleasure to interact with you, my readers.