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Cognex (CGNX) Is Set to Make New Records

This week we are featuring a company that was recently added to the Investor’s Business Daily (IBD) Top 50 List. The stock has displayed strong upwards momentum and we look to place spreads that take advantage of this underlying strength. Terry Cognex (CGNX) Is Set to Make New Records Cognex reported earnings at the start of the month which led to a rally above a significant technical hurdle. Cowen has since raised price targets to $135 and Zack’s equity research has written a compelling article outlining why they expect further upside in addition to rating the stock as a Strong Buy. CGNX rallied to a record high after earnings, taking out a notable barrier from a horizontal level at $96.06 as well as the psychological $100.00 price point. The horizontal level had previously held the stock lower on several attempts since early June.

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Global Payments (GPN) Poised to Break $100 Mark

This week we are discussing a new addition to the Investor’s Business Daily (IBD) Top 50 List. We use this list in one of our portfolios to identify stocks that have displayed strong upward momentum and place spreads to profit from the underlying trend. Actually, the stock price can even fall a little bit for the maximum gain to be realized. Terry Global Payments (GPN) Poised to Break $100 Mark Several analysts have recently refreshed their bullish targets for GPN. Here are two of them – Wells Fargo Upgrades Global Payments (GPN) to Outperform and Global Payments price target raised to $105 from $98 at Barclays. GPN boasts a strong uptrend and has recently broken above major resistance at $93.31 after correcting lower for five weeks. The stock has regained its 20-day moving average following a turn higher in the second week of July and broke to all-time highs on Friday.

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