As the market is working on a two-day rally, several of our Breakout names are moving right along with it. I still see a lot of strength in those charts, and I’ll talk a bit more about them in tonight’s issue. For now, I want us to lock in profits in one stock that’s had a great run.
Entravision (EVC) has been one of our steadiest performers in the fourth quarter, making an incredible turnaround to jump over 85% from its October lows. As I talked about in the Update Center last week, the stock has been the closest to looking overbought among our rallying names, but I wanted to wait for the signal that the bulls are getting tired. I believe we’ve gotten that signal as shares have stalled a bit since peaking last week after the company’s dividend payout. After this kind of steady run, EVC is more than overdue for a rest. And with shares just above our $7 target, now is a great time to lock in our solid double-digit profit. Sell EVC.