Superior Profit

Overvalued growth stock falling down.

 

CGNX.

 

I found it from real-time CUE Edge Insight category "worst performing growth stocks".

 

Growth stocks go up fast and fall equally hard. CGNX had consistent annual earnings growth and now earnings are slowing down. As seen from the latest quarterly earnings being negative. The stock is overvalued.

 

Its industry is weak today and it is decelerating over five days (seen from Pace calculation).

 

In the weekly, backdrop color is bearish (magenta). In the daily, the last magenta candle did not give a low-risk short opportunity though that had broken below Memory support. After that for 3 days price moved slightly upward and then today it is falling hard. Today it has given a low-risk short opportunity. 

 

All snapshots are as of ~2 PM EST.



CGNX Chart 2018-12-13_14-06-17.jpg  CGNX EDGE 2018-12-13_14-09-15.jpg  CGNX INSIGHT 2018-12-13_14-08-46.jpg  CGNX VITAL 2018-12-13_14-09-49.jpg 
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Superior Profit
CGNX fell near Lower Boundary and for last four days hovering sideways. As of 9:40 AM EST today (19th Dec) it has yellow Traffic Light candle color in the daily chart. In view of the Fed rate event today, one might consider booking (small) profit and not hold on to the trade through the event.


cgnx chart 2018-12-19_9-45-47.jpg 
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