NEW YORK (TheStreet) -- The eight momentum stocks I have been tracking began 2014 with mixed performances questioning the sustainability of continued new highs for the stock market. Tesla Motors (TSLA) may be up 9.1% on the new year but not without extreme volatility as this week's range for the stock has been between $136.67 and $172.23 as negative stock specific news was offset by positive news.
On the opposite side of the ledger Netflix (NFLX) is down 10.3% so far in 2014 and its earnings report Jan. 22 should sort out whether its momentum will return. Following its last earnings report Netflix popped to its all-time intraday high at $389.16 on Oct.22 then traded as low as $309.20 on Oct. 29 and this trading range remains intact.
Meanwhile, Apple (AAPL) traded down to $529.88 on Monday then up to $560.20 yesterday as Apple's deal with China Mobile takes shape. At the low the stock was upgraded to buy from hold as I wrote about Apple in Wrong Calls: Intel, America Online and Apple on Tuesday.
Here are my buy-and-trade parameters for my eight momentum stocks:Apple ($557.36 vs. $561.02 on Dec. 31 down 0.7%) set a 52-week high at $575.15 on Dec. 5 then traded as low as $529.88 on Monday and is above its 200-day simple moving average at $478.53. The weekly chart profile is neutral with its five-week modified moving average at $542.86 and its 200-week SMA at $430.47. Apple has a buy rating according to www.ValuEngin.com is 13.3% overvalued with a gain of 14.7% over the last 12 months. My annual value level is $517.05 with a monthly pivot at $549.13 and an annual risky level at $586.06. Above are my new semiannual risky levels at $657.40 and $666.94.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV