CANSLIM.net Stock Bulletins - PSUN
02/16/04 CANSLIM.net
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 STOCK BULLETIN
"A Vital Service for the CANSLIM Investor"
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Monday, February 16th, 2004 | 5:44 PM
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Pacific Sunwear of California, Inc. (PSUN $24.56) is a retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. The Company operates three nationwide, primarily mall-based chains of retail stores .
With the benefit of some positive technical activity including the recent breakout for the S&P Retail Index (RLX) and also confirming leadership from other retailers (like Urban Outfitters - URBN, and Cache - CACH), it seems that Pacific Sunwear Ca Inc is a very strong leader in the Retail - Clothing/Shoe industry group. It recently cleared a better than six-month base to hit a new all-time. If one adds ten cents to PSUN’s most recent significant high of $24.56 on 11/03/03, you arrive at a pivot of $24.66. Note that the prior high close had been on 10/14/03 at $23.97, and on 02/05/04 it cleared that point on more than twice its average volume for a new high close. That flashed a buy signal also on 02/05/04 as it intra-day cleared the pivot point, yet it cooled off and didn't quite close that session above it. It has, however, managed seven consecutive closes above the $24 mark. Additional confirmation in the form of another new high on above average volume would be make the case for buying PSUN even clearer.
NOTE: The stock is up +81.9% since it was featured in the April 2003 issue of CANSLIM.net News, yet sometimes the best leaders come around again and again and provide technical reassurances in their chart action. Recent message board ramblings, interestingly, concern a Wall Street Journal article suggesting PSUN may be getting "pricey". Technically, this stock's chart action does not suggest that the market thinks so. Its present Up/Down volume ratio of 2.1 suggests there has been a fair level of institutional buying demand.
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Prior 4 Quarterly earnings % Changes: |
| Jan '03 vs '02 +63% |
Apr '03 vs '02 +120% |
Jul '03 vs '02 +70% |
Oct '03 vs '02 +48% |
| Shares Outstanding: 78.3 Million |
50-Day Avg Vol: 1,666,900 |
| Pivot Point: (.10 above high on 11/03/03) $24.66 |
Max Buy Price: $25.89 |
More Info: 5-year Chart from BigCharts.com
Additional Resources...
Financials StockTalk News Chart SEC Zacks Reports
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Comments contained in the body of this report are technical opinions only and are not necessarily those of Source Capital Group, Inc. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. Source Capital Group, Inc. is a NASD/SIPC member firm. | |
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About :
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.
You can contact Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam at kengruneisen@gmail.com
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