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AFTER MARKET UPDATE - WEDNESDAY, APRIL 26TH, 2023
Previous After Market Report Next After Market Report >>>
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DOW |
-228.96 |
33,301.87 |
-0.68% |
|
Volume |
853,414,693 |
-1% |
|
Volume |
5,328,533,400 |
+9% |
|
NASDAQ |
+55.19 |
11,854.35 |
+0.47% |
|
Advancers |
972 |
34% |
|
Advancers |
1,781 |
40% |
|
S&P 500 |
-15.64 |
4,055.99 |
-0.38% |
|
Decliners |
1,882 |
66% |
|
Decliners |
2,671 |
60% |
|
Russell 2000 |
-15.54 |
1,730.41 |
-0.89% |
|
52 Wk Highs |
31 |
|
|
52 Wk Highs |
54 |
|
|
S&P 600 |
-10.16 |
1,119.76 |
-0.90% |
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52 Wk Lows |
100 |
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52 Wk Lows |
408 |
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Major Indexes Were Mixed With Thin Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow lost 228 points (-0.7%) and S&P 500 declined -0.4%, meanwhile the tech heavy Nasdaq Composite added 0.5%. Volume totals reported were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was negative as decliners led advancers by almost a 2-1 margin on the NYSE and by a 3-2 margin on the Nasdaq exchange. Leaderhsip was thin as there were only 3 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 20 on the prior session. New 52-week lows totals outnumbered new 52-week highs totals on the NYSE and on the Nasdaq exchange.The major indices are in an uptrend under pressure (M criteria). Appropriate new buying efforts may be considered under the fact-based investment system.
PICTURED: The Nasdaq Composite Index pulled back near its 50-day moving average after nearly challenging its February 2, 2023 high.
Ten of 11 sectors finished in negative territory as U.S. equities finished mixed Wednesday. Bank jitters outweighed strong technology earnings. Currently, financial companies have been lagging this earning season as only 57% of the 91 reporting financial companies topped earnings estimates while just 46% beat sales expectations. In earnings news today, Meta Platforms Inc. (META +0.89%) inched higher after it reported better than expected revenue following a series of layoffs, resulting in roughly 21,000 job cuts. The company also topped daily active user estimates by 30 million, resulting in 2.04 billion daily users. However, the company met the estimated 2.99 billion monthly active users.
On the data front, Mortgage Bankers Association mortgage applications for the week ended April 21 jumped 3.7%, reversing from the prior week’s decline of 8.8%, despite the 30-year mortgage rate ticking to a one-month high. Meanwhile, March’s preliminary reading of wholesale inventories remained unchanged at a 0.1% monthly gain while durable goods orders surged to a 3.2% monthly growth, boosted by an increase in commercial aircraft orders.
Treasuries were mixed, with the yield on the 10-year note increasing five basis points (0.05%) to 3.44%, while the 30-year bond yield gained five basis points (0.05%) to 3.70%. The yield on the two-year note, which is more sensitive to changes in Federal Reserve (Fed) policy, remained unchanged at 3.93%. In commodities, West Texas Intermediate (WTI) crude declined 3.7% to $74.25/barrel amid heightened fears of a global recession. Elsewhere, the Department of Energy reported a drop in 5.1 million barrels of U.S. crude inventories for the week ended April 21. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Semiconductor Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial indexes created a drag on the major averages on Wednesday as the Bank Index ($BKX -1.03%) and Broker/Dealer Index ($XBD -1.15%) both lost ground. The Retail Index ($RLX +0.53%) edged higher. The Semiconductor Index ($SOX +0.57%) also posted a small gain, meanwhile the Networking Index ($NWX -0.25%) edged lower and the Biotech Index ($BTK -1.26%) suffered a larger loss. Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -1.02%), Oil Services Index ($OSX -1.23%), and Integrated Oil Index ($XOI -0.90%) fell.
PICTURED: The Networking Index ($NWX -0.25%) has slumped badly below its 50-day and 200-day moving average (DMA) lines with recent losses.
| Oil Services |
$OSX |
77.38 |
-0.96 |
-1.23% |
-7.73% |
| Integrated Oil |
$XOI |
1,724.36 |
-15.73 |
-0.90% |
-3.52% |
| Semiconductor |
$SOX |
2,922.99 |
+16.71 |
+0.57% |
+15.44% |
| Networking |
$NWX |
755.32 |
-1.91 |
-0.25% |
-3.57% |
| Broker/Dealer |
$XBD |
444.08 |
-5.18 |
-1.15% |
-1.12% |
| Retail |
$RLX |
3,007.61 |
+15.87 |
+0.53% |
+9.21% |
| Gold & Silver |
$XAU |
133.07 |
-1.37 |
-1.02% |
+10.10% |
| Bank |
$BKX |
78.87 |
-0.82 |
-1.03% |
-21.79% |
| Biotech |
$BTK |
5,177.04 |
-66.23 |
-1.26% |
-1.97% |
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Recently Rallying to New All-Time Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
PulteGroup (PHM -$0.43 or -0.66% to $64.52) pulled back today. It was highlighted in yellow in the 4/25/23 mid-day report (read here) with pivot point cited based on its May 2021 high. It gapped up hitting a new all-time high with a 4th consecutive volume-driven gain and no resistance remains due to overhead supply.
Bullish action came after it reported earnings +28% for the Mar '23 quarter versus the year-ago period. This Building - Residential/Commercial firm has posted 13 strong quarterly comparisons above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong. It has a 98 Earnings Per Share Rating.
The number of top-rated funds owning its shares reportedly fell from 1,791 in Sep 22 to 1,701 in Mar '23. However, its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a Timeliness Rating of A and an Accumulation/Distribution Rating of A-. |
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Color Codes Explained :
Y - Better candidates highlighted by our
staff of experts.
G - Previously featured
in past reports as yellow but may no longer be buyable under the
guidelines.
***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
GPK
-
NYSE
Graphic Packaging
CONSUMER NON-DURABLES - Packaging and Containers
|
$23.91
|
-0.43
-1.77% |
$24.40
|
1,823,385
63.31% of 50 DAV
50 DAV is 2,880,000
|
$25.62
-6.67%
|
10/25/2022
|
$22.75
|
PP = $24.17
|
|
MB = $25.38
|
Most Recent Note - 4/26/2023 5:12:02 PM
G - Color code is changed to green as it slumped well below its 50 DMA line ($24.34) triggering a technical sell signal. A rebound above the 50 DMA line is needed for its outlook to improve. It remains perched just -6.7% below its all-time high. Recent gains lacked great volume conviction.
>>> FEATURED STOCK ARTICLE : Quietly Consolidating Just Below "Max Buy" Level - 4/10/2023 |
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C
A
S
I |
STRL
-
NASDAQ
Sterling Infrastructure
MATERIALS and; CONSTRUCTION - Heavy Construction
|
$35.68
|
-1.11
-3.02% |
$36.66
|
213,175
88.45% of 50 DAV
50 DAV is 241,000
|
$42.00
-15.05%
|
12/14/2022
|
$32.41
|
PP = $33.72
|
|
MB = $35.41
|
Most Recent Note - 4/26/2023 5:14:10 PM
G - Slumping again after meeting resistance at its 50 DMA line. A rebound above the 50 DMA line ($37.78) is needed for its outlook to improve. Due to report Mar '23 quarterly results on 5/01/23. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : Volume-Driven 50-Day Moving Average Violation Triggered Sell Signal - 4/5/2023 |
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C
A
S
I |
PERI
-
NASDAQ
Perion Network
Comml Svcs-Advertising
|
$35.09
|
-0.23
-0.65% |
$36.75
|
570,739
76.82% of 50 DAV
50 DAV is 743,000
|
$42.75
-17.92%
|
1/25/2023
|
$31.79
|
PP = $33.19
|
|
MB = $34.85
|
Most Recent Note - 4/24/2023 6:51:39 PM
G - Violated its 50 DMA line ($36.58) with a damaging volume-driven loss today triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Perion Pulls Back Toward 50-Day Moving Average Line - 4/20/2023 |
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C
A
S
I |
FIX
-
NYSE
Comfort Systems USA
MATERIALS and CONSTRUCTION - General Contractors
|
$132.83
|
+0.95
0.72% |
$133.10
|
628,759
217.56% of 50 DAV
50 DAV is 289,000
|
$152.13
-12.69%
|
2/23/2023
|
$136.52
|
PP = $128.78
|
|
MB = $135.22
|
Most Recent Note - 4/26/2023 5:10:02 PM
G - Managed a "positive reversal" today and closed near the session high with a volume-driven gain. More damaging losses would raise greater concerns. Its color code is changed to green as it sputtered and its 50 DMA line ($137.42) recently acted as resistance. It has not formed a sound base and faces resistance due to overhead supply up to the $152 level.
>>> FEATURED STOCK ARTICLE : Consolidating Near 50-Day Moving Average and -10.5% off High - 4/21/2023 |
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C
A
S
I |
KOF
-
NYSE
Coca-Cola Femsa ADR
FOOD and BEVERAGE - Beverages - Soft Drinks
|
$83.52
|
-0.67
-0.80% |
$85.22
|
163,684
88.48% of 50 DAV
50 DAV is 185,000
|
$85.61
-2.44%
|
3/7/2023
|
$76.63
|
PP = $77.11
|
|
MB = $80.97
|
Most Recent Note - 4/24/2023 6:54:20 PM
G - Hit a new all-time high with today's quiet gain, getting more extended from the prior base. On pullbacks, prior highs in the $79-$77 area define initial support to watch along with its 50 DMA line ($77.33).
>>> FEATURED STOCK ARTICLE : Streak of 11 Straight Gains into New High Territory - 4/12/2023 |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$155.96
|
+2.38
1.55% |
$159.58
|
3,256,440
126.17% of 50 DAV
50 DAV is 2,581,000
|
$171.44
-9.03%
|
4/24/2023
|
$156.56
|
PP = $171.54
|
|
MB = $180.12
|
Most Recent Note - 4/26/2023 12:08:25 PM
Y - Finding support above its 50 DMA line ($154) with today's gain. Color code was changed to yellow with new pivot point cited based on its 3/23/23 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. The 50 DMA line defines important support to watch above prior highs in the $148-145 area.
>>> FEATURED STOCK ARTICLE : Near High With Volume Cooling Following Volume-Driven Gains - 4/17/2023 |
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C
A
S
I |
CLH
-
NYSE
Clean Harbors
Pollution Control
|
$142.30
|
+0.08
0.06% |
$142.62
|
413,571
97.08% of 50 DAV
50 DAV is 426,000
|
$146.05
-2.57%
|
3/10/2023
|
$136.89
|
PP = $136.74
|
|
MB = $143.58
|
Most Recent Note - 4/24/2023 7:06:52 PM
G - Posted a small gain today with below-average volume matching its best-ever close. Recently wedging up above its "max buy" level with gains backed by lackluster volume, not action considered indicative of fresh institutional buying demand. Found prompt support near its 50 DMA line ($136.49) during recent consolidations. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Wedged to a New High Close Above "Max Buy" Level - 4/19/2023 |
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C
A
S
I |
MTRN
-
NYSE
Materion
METALS and MINING - Industrial Metals and Minerals
|
$107.61
|
-0.21
-0.19% |
$108.95
|
52,143
41.71% of 50 DAV
50 DAV is 125,000
|
$119.75
-10.14%
|
4/18/2023
|
$114.52
|
PP = $118.30
|
|
MB = $124.22
|
Most Recent Note - 4/25/2023 1:34:25 PM
G - Color code is changed to green after slumping below its 50 DMA line ($109.75) with today's loss on light volume. Encountered distributional pressure when poised to break out. A prompt rebound above the 50 DMA line is needed for its outlook to improve. Subsequent gains and a strong close above the pivot point backed by at least +40% above average volume may trigger a proper technical buy signal. Due to report Mar '23 quarterly results on 5/03/23. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised for Breakout - 4/18/2023 |
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C
A
S
I |
SPSC
-
NASDAQ
SPS Commerce
COMPUTER SOFTWARE and SERVICES - Application Software
|
$142.65
|
+1.17
0.83% |
$146.34
|
135,398
85.69% of 50 DAV
50 DAV is 158,000
|
$157.46
-9.41%
|
4/24/2023
|
$150.01
|
PP = $157.56
|
|
MB = $165.44
|
Most Recent Note - 4/25/2023 1:31:16 PM
G - Slumping well below its 50 DMA line ($148.68) with today's big loss raising concerns and its color code is changed to green. Highlighted in yellow with new pivot point cited based on its 2/15/23 high plus 10 cents in the 4/24/23 mid-day report. A prompt rebound above its 50 DMA line ($148.68) is needed for its outlook to improve. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Due to report Mar '23 quarterly results. Volume and volatility often increase near earnings news. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Sputtered While Perched in Striking Distance of 52-Week HIgh - 4/24/2023 |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$260.02
|
+0.61
0.24% |
$263.70
|
653,513
169.74% of 50 DAV
50 DAV is 385,000
|
$265.50
-2.06%
|
4/25/2023
|
$262.85
|
PP = $257.51
|
|
MB = $270.39
|
Most Recent Note - 4/26/2023 12:26:07 PM
Y - Inching higher today. Gapped up on the prior session and closed above the pivot point with a considerable gain backed by +367% triggering a technical buy signal. Highlighted in yellow in the 4/25/23 mid-day report with pivot point cited based on its 3/06/23 high after a 4-month double bottom base. Rebounded above its 50 DMA line ($240) and touched a new 52-week high. Reported strong Mar '23 quarterly earnings +70% over the year-ago period. Its Mar, Jun, Sep, and Dec '22 quarterly earnings increases were above the +25% minimum (C criteria). Annual earnings history (A criteria) had a downturn in FY '20 like many companies during the pandemic. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Gap Up Following Earnings Triggered Technical Buy Signal - 4/25/2023 |
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C
A
S
I |
Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(% 50 day avg vol) |
52 Wk Hi
% From Hi |
Featured
Date |
Price
Featured |
Pivot Featured |
|
Max Buy |
NVR
-
NYSE
NVR Inc
MATERIALS and CONSTRUCTION - Residential Construction
|
$5,681.59
|
-73.12
-1.27% |
$5,837.98
|
27,888
121.25% of 50 DAV
50 DAV is 23,000
|
$5,986.96
-5.10%
|
4/25/2023
|
$5,882.18
|
PP = $5,978.25
|
|
MB = $6,277.16
|
Most Recent Note - 4/25/2023 1:06:40 PM
Y - Color code is changed to yellow with pivot point cited based on its 12/30/21 high plus 10 cents. Pulling back today after rallying to touch a new all-time high. Confirming gains and a close above the pivot point backed by at least +40% above average volume may clinch a proper technical buy signal. Due to report Mar '23 quarterly earnings. Reported earnings +50% on +23% sales revenues for the Dec '22 quarter versus the year-ago period, and prior quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been very strong.
There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below |
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C
A
S
I |
PHM
-
NYSE
PulteGroup
MATERIALS and CONSTRUCTION - Residential Construction
|
$64.63
|
-0.32
-0.49% |
$65.42
|
4,246,345
152.04% of 50 DAV
50 DAV is 2,793,000
|
$66.08
-2.19%
|
4/25/2023
|
$65.17
|
PP = $64.01
|
|
MB = $67.21
|
Most Recent Note - 4/26/2023 5:06:13 PM
Y - Pulled back today breaking a streak fo 4 consecutive volume-driven gains. Highlighted in yellow with pivot point cited based on its May 2021 high in the 4/25/23 mid-day report. Bullish action came after it reported earnings +28% for the Mar '23 quarter versus the year-ago period. This Building - Residential/Commercial firm has posted 13 strong quarterly comparisons above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Recently Rallying to New All-Time Highs - 4/26/2023 |
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C
A
S
I |
|
|
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
This site is not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
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. All trademarks,
service marks and trade names appearing in this report
are the property of their respective owners, and are
likewise used for identification purposes only.
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