Losers Getting the Love

The theme we saw at various intervals in recent weeks, of beaten-down high beta issues like GPRO TWTR catching a bid and exuding relative strength, is persisting the first day back from holiday. 

In addition to TWTR, we have the likes of LNKD and some badly-beaten biotech outperforming. TASR has enjoyed something of a renaissance of late, too. 

With this in mind, should we see this type of continued rotation then Mobileye is probably worth keeping tabs on for a move up and out of the highlighted daily chart consolidation, below. We are looking for a move over $38.30 to serve as a trigger.