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AFTER MARKET UPDATE - WEDNESDAY, OCTOBER 13TH, 2021
Previous After Market Report Next After Market Report >>>
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DOW |
-0.53 |
34,377.81 |
-0.00% |
|
Volume |
794,811,204 |
+2% |
|
Volume |
4,034,309,100 |
+0% |
NASDAQ |
+105.71 |
14,571.64 |
+0.73% |
|
Advancers |
1,992 |
63% |
|
Advancers |
2,558 |
58% |
S&P 500 |
+13.15 |
4,363.80 |
+0.30% |
|
Decliners |
1,194 |
37% |
|
Decliners |
1,855 |
42% |
Russell 2000 |
+7.70 |
2,241.97 |
+0.34% |
|
52 Wk Highs |
71 |
|
|
52 Wk Highs |
67 |
|
S&P 600 |
-0.71 |
1,353.54 |
-0.05% |
|
52 Wk Lows |
35 |
|
|
52 Wk Lows |
73 |
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We have repeatedly posted this notice that the direction of the major averages (M) has shifted to a "market correction" and new buying is to be avoided. Greater caution is now warranted until a new confirmed rally with a follow-through day is noted.
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Dow Lags Major Indices as Rally Attempt Still Lacks Follow-Through
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 and Nasdaq Composite both snapped three-session losing streaks, up 0.3% and 0.7%, respectively, amid strength in tech-related shares. The Dow ended just below the flat line, recouping a more than 260-point decline. The volume totals reported were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by a 3-2 margin on the NYSE and by 5-3 on the Nasdaq exchange. There were 16 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page versus the total of 20 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows still outnumbered new highs on the Nasdaq exchange. The major indices (M criteria) have repeatedly been noted in a "market correction". Investors are reminded to remain cautious and avoid new buying decisions, meanwhile selling any weakening stocks on a case-by-case basis, reducing exposure and raising cash as per the rules of the fact-based investment system.
PICTURED: The Nasdaq Composite Index has been sputtering. Disciplined investors following the fact-based investment system will wait to make new buys only after a proper follow-through day - which requires a solid gain from at least one of the major averages backed by higher volume and coupled with an expansion in the number of stocks hitting new highs. U.S. stocks finished mostly higher on Wednesday as Wall Street digested an influx of inflation data, corporate earnings results, and central bank updates. Investors assessed the Federal Reserve’s latest meeting minutes, which indicated that most participants believed a gradual tapering of pandemic-era asset purchases should begin in mid-November or mid-December. Additionally, policymakers noted that ongoing supply chain disruptions and labor shortages could cause price pressures to persist for longer than previously anticipated. An update on inflation today revealed U.S. consumer prices climbed 0.4% in September, unexpectedly increasing from the prior month’s 0.3% uptick that had represented the smallest gain in seven months. The Treasury yield curve flattened, with the 10-year note yield down three basis points to 1.54%, while the yield on the two-year note increased two basis points to 0.36%, its highest level since March 2020. A gauge of the U.S. dollar dropped 0.5%.
Nine of 11 S&P 500 sectors closed in positive territory, with Financials and Energy the two declining groups. JPMorgan Chase & Co (JPM -2.64%) slumped as muted loan growth overshadowed record revenue from dealmaking activity in its latest quarter. BlackRock (BLK +3.78%) bucked downtrend in the sector, climbing after beating consensus profit and revenue estimates. In other earnings, Delta Airlines (DAL -5.78%) fell as a warning about higher fuel costs outweighed its first quarterly profit without federal aid since the onset of the pandemic.
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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, Tech, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.96%) posted an influential gain while the Bank Index ($BKX -0.77%) and Broker/Dealer Index ($XBD -0.37%) both created a drag on the major averages. The Semiconductor Index ($SOX +0.46%) and Networking Index ($NWX +0.31%) both edged higher while the Biotech Index ($BTK -0.46%) edged lower. The Gold & Silver Index ($XAU +3.66%) posted a standout gain while the and Integrated Oil Index ($XOI +0.21%) each posted a smaller gain.
PICTURED: The Oil Services Index ($OSX +0.86%) found prompt support near its April low and has been rebounding.
Oil Services |
$OSX |
62.87 |
+0.54 |
+0.86% |
+41.82% |
Integrated Oil |
$XOI |
1,182.37 |
+2.48 |
+0.21% |
+49.20% |
Semiconductor |
$SOX |
3,192.75 |
+14.61 |
+0.46% |
+14.21% |
Networking |
$NWX |
833.32 |
+2.60 |
+0.31% |
+16.20% |
Broker/Dealer |
$XBD |
480.58 |
-1.77 |
-0.37% |
+27.27% |
Retail |
$RLX |
3,932.96 |
+37.38 |
+0.96% |
+10.38% |
Gold & Silver |
$XAU |
129.78 |
+4.58 |
+3.66% |
-9.99% |
Bank |
$BKX |
133.42 |
-1.04 |
-0.77% |
+36.27% |
Biotech |
$BTK |
5,571.52 |
-25.98 |
-0.46% |
-2.92% |
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Rebounding From 50-Day Moving Average Toward Prior Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Workday Inc Cl A (WDAY +$9.41 or +3.66% to $266.60) gapped up today, but encountered pressure and ended near the middle of its intra-day range after larger early gains. Its 50-day moving average (DMA) line ($255).and recent lows ($246) define near-term support to watch where violations would raise concerns. It still faces a little resistance due to overhead supply up to the $278 level. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong. WDAY was highlighted in yellow with pivot point cited based on its 2/16/21 high plus 10 cents in the 9/07/21 mid-day report (read here). It was shown in detail with an annotated graph that evening under the headline "Gap Up and Recent Gains Challenge All-Time High".
It has a 94 Earnings Per Share Rating. It reported Jul '21 quarterly earnings +46% on +19% sales revenues versus the year ago period, its 5th consecutive quarterly comparison well above the +25% minimum guideline (C criteria). Its annual earnings (A criteria) history has also been strong and steady. It has a Timeliness Rating of A and Sponsorship Rating of B.
WDAY hails from the Computer Software-Enterprise group which is ranked 25th on the 197 Industry Groups list (L criteria). There are 189.1 million shares in the public float (S criteria). The number of top-rated funds owning its shares rose from 1,560 in Sep '20 to 1,826 in Sep '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days.
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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 |
SIVB
-
NASDAQ
S V B Financial Group
BANKING - Regional - Pacific Banks
|
$667.72
|
+8.63
1.31% |
$668.10
|
243,236 61.11% of 50 DAV
50 DAV is 398,000
|
$692.21 -3.54%
|
8/6/2021
|
$589.70
|
PP = $608.94
|
MB = $639.39
|
Most Recent Note - 10/12/2021 5:43:56 PM
G - There was a "negative reversal" on the prior session after hitting a new all-time high. Extended from the previously noted base, the prior highs in the $608 area define initial support to watch above its 50 DMA line ($600). Completed a new Public Offering on 8/11/21.
>>> FEATURED STOCK ARTICLE : Pullback After 5 Straight Gains into New High Territory - 9/28/2021 |
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C
A
S
I |
BLDR
-
NYSE
Builders Firstsource Inc
Bldg-Constr Prds/Misc
|
$56.42
|
+0.97
1.75% |
$56.61
|
1,392,526 67.53% of 50 DAV
50 DAV is 2,062,000
|
$56.31 0.20%
|
8/12/2021
|
$52.38
|
PP = $54.09
|
MB = $56.79
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Most Recent Note - 10/7/2021 5:49:13 PM
Y - Posted a 3rd consecutive gain today with light volume for its 2nd best ever close. Its 50 DMA line ($51.50) defines important near term support. Subsequent gains for new highs backed by at least +40% above average volume may clinch a proper technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Sputtering After Wedging to New Highs - 10/1/2021 |
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C
A
S
I |
KFRC
-
NASDAQ
Kforce Inc
Comml Svcs-Staffing
|
$66.72
|
-0.49
-0.73% |
$67.57
|
79,879 68.86% of 50 DAV
50 DAV is 116,000
|
$69.00 -3.30%
|
9/10/2021
|
$59.53
|
PP = $64.48
|
MB = $67.70
|
Most Recent Note - 10/7/2021 12:28:12 PM
Y - Hitting a new all-time high with today's gain. Previously noted - "Subsequent gains above its pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. Fundamentals are strong."
>>> FEATURED STOCK ARTICLE : Staffing Firm Still Faces Some Overhead Supply - 9/13/2021 |
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C
A
S
I |
GNRC
-
NYSE
Generac Hldgs Inc
Electrical-Power/Equipmt
|
$418.91
|
-2.52
-0.60% |
$430.81
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601,934 97.40% of 50 DAV
50 DAV is 618,000
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$466.92 -10.28%
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8/30/2021
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$449.36
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PP = $457.10
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MB = $479.96
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Most Recent Note - 10/7/2021 5:59:02 PM
G - Rebounded toward its 50 DMA line ($423.46) which may act as resistance after damaging volume-driven losses. A rebound above the 50 DMA line is needed for its outlook to improve. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Prior Lows Define Near-Term Support After 50 DMA Violation - 10/6/2021 |
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C
A
S
I |
CAMT
-
NASDAQ
Camtek Ltd
ELECTRONICS - Scientific and Technical Instrum
|
$38.47
|
-0.33
-0.85% |
$39.22
|
140,443 83.10% of 50 DAV
50 DAV is 169,000
|
$46.01 -16.39%
|
8/4/2021
|
$39.67
|
PP = $40.57
|
MB = $42.60
|
Most Recent Note - 10/8/2021 5:45:55 PM
G - Slumped today with light volume as it fell below its 50 DMA line ($39.97). The prior low ($34.68 on 8/17/21) defines the next important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Fell Below Prior High and Violated 50-Day Moving Average - 10/5/2021 |
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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 |
PKI
-
NYSE
Perkinelmer Inc
ELECTRONICS - Scientific and Technical Instrum
|
$168.00
|
+1.34
0.80% |
$169.03
|
566,005 84.33% of 50 DAV
50 DAV is 671,200
|
$192.00 -12.50%
|
8/18/2021
|
$181.07
|
PP = $188.50
|
MB = $197.93
|
Most Recent Note - 10/12/2021 5:47:58 PM
G - Suffered a 3rd consecutive loss. A rebound above the 50 DMA line ($181.78) is needed for its outlook to improve. Its Relative Strength Rating has slumped to 78. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Stalled But Holding Ground After Recent "3 Weeks Tight" - 9/17/2021 |
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C
A
S
I |
UMC
-
NYSE
United Microelectrnc Adr
ELECTRONICS - Semiconductor - Integrated Cir
|
$10.16
|
-0.18
-1.74% |
$10.24
|
5,901,471 81.37% of 50 DAV
50 DAV is 7,253,000
|
$12.62 -19.49%
|
8/5/2021
|
$11.62
|
PP = $11.38
|
MB = $11.95
|
Most Recent Note - 10/7/2021 5:55:19 PM
G - Gapped up today rebounding toward the 50 DMA line ($11.24) which may act as resistance. Gains above the 50 DMA line are needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-day Moving Average Near "Max Buy" Level - 9/27/2021 |
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C
A
S
I |
BRKS
-
NASDAQ
Brooks Automation
ELECTRONICS - Semiconductor Equipment and Mate
|
$98.67
|
-0.73
-0.73% |
$101.44
|
355,202 55.41% of 50 DAV
50 DAV is 641,000
|
$110.40 -10.63%
|
9/20/2021
|
$101.21
|
PP = $108.82
|
MB = $114.26
|
Most Recent Note - 10/7/2021 5:57:10 PM
Y - Posted a gain today with higher volume. Perched within striking distance of its 52-week high hit last week. Pivot point cited was based on its 4/27/21 high plus 10 cents. Subsequent gains above the pivot point backed by at least 40% above average volume may trigger a convincing technical buy signal.
>>> FEATURED STOCK ARTICLE : Rallying Near High After Brief Consolidation Below 200 DMA Line - 9/20/2021 |
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C
A
S
I |
ENTG
-
NASDAQ
Entegris Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$121.11
|
-0.56
-0.46% |
$123.73
|
562,589 81.02% of 50 DAV
50 DAV is 694,400
|
$135.99 -10.94%
|
8/4/2021
|
$125.33
|
PP = $126.51
|
MB = $132.84
|
Most Recent Note - 10/11/2021 4:50:38 PM
G - Finding prompt support near its 50 DMA line ($121.97) after damaging losses. Its prior low and 200 DMA line define the next important support in the $109 area.
>>> FEATURED STOCK ARTICLE : Hit New High and Rose Above its Max Buy Level - 9/23/2021 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$52.33
|
+0.44
0.85% |
$52.72
|
70,801 87.41% of 50 DAV
50 DAV is 81,000
|
$53.52 -2.22%
|
7/23/2021
|
$40.23
|
PP = $43.74
|
MB = $45.93
|
Most Recent Note - 10/11/2021 4:54:06 PM
G - Posted a gain with above average volume today. Perched at its 52-week high, extended from the previously noted base. Found prompt support near its 50 DMA line ($44.58) after testing the prior low ($42.34) where more damaging losses may trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Quietly Consolidating Near All-Time High - 9/14/2021 |
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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 |
TGH
-
NYSE
Textainer Group Holdings
TRANSPORTATION - Logistics
|
$37.00
|
-0.36
-0.96% |
$37.75
|
544,530 122.92% of 50 DAV
50 DAV is 443,000
|
$37.88 -2.32%
|
10/7/2021
|
$36.97
|
PP = $36.80
|
MB = $38.64
|
Most Recent Note - 10/7/2021 5:44:35 PM
Y - Finished near the session low today after churning above average volume. Color code was changed to yellow in the earlier mid-day report with pivot point cited based on its 9/29/21 high while building on a cup-with-handle base. It is perched within close striking distance of its 52-week high after finding prompt support near its 50 DMA line ($33.73) during an orderly consolidation. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a proper technical buy signal. Reported Jun '21 quarterly earnings +429% on +29% sales revenues versus the year ago period, its 5th strong earnings comparison. Sales revenues growth has been improving and accelerating in the 3 latest quarterly comparisons after years of sub-par and negative comparisons, not a match with with regard to the fact-based investment system's fundamental guidelines. Annual earnings (A criteria) history has been strong after a downturn and loss in FY '16. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Near High With Strong Fundamentals - 10/7/2021 |
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C
A
S
I |
SMPL
-
NASDAQ
Simply Good Foods Co
Food-Confectionery
|
$34.45
|
-0.98
-2.77% |
$35.62
|
244,359 74.57% of 50 DAV
50 DAV is 327,700
|
$38.50 -10.52%
|
12/28/2020
|
$30.40
|
PP = $31.44
|
MB = $33.01
|
Most Recent Note - 10/12/2021 5:39:46 PM
G - Consolidating just above its 50 DMA line ($35.37). Its Relative Strength Rating has slumped to 78. Recent low ($33.55 on 9/20/21) and 200 DMA line define important support where more damaging losses would raise greater concerns. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Just Above 50-Day Moving Average Line - 10/12/2021 |
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C
A
S
I |
WDAY
-
NYSE
Workday Inc Cl A
Computer Sftwr-Enterprse
|
$266.60
|
+9.41
3.66% |
$273.55
|
2,508,335 162.00% of 50 DAV
50 DAV is 1,548,400
|
$282.77 -5.72%
|
9/7/2021
|
$275.69
|
PP = $282.87
|
MB = $297.01
|
Most Recent Note - 10/13/2021 6:16:10 PM
Y - Gapped up today, but encountered pressure and ended near the middle of its intra-day range after larger early gains. Its 50 DMA line ($255).and recent lows ($246) define near-term support to watch where violations would raise concerns. Faces resistance due to overhead supply up to the $278 level after trading higher for the past month. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebounding From 50-Day Moving Average Toward Prior Highs - 10/13/2021 |
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C
A
S
I |
CTLT
-
NYSE
Catalent Inc
DRUGS - Biotechnology
|
$128.16
|
-0.47
-0.37% |
$129.50
|
440,734 49.63% of 50 DAV
50 DAV is 888,000
|
$142.64 -10.15%
|
8/25/2021
|
$128.72
|
PP = $127.78
|
MB = $134.17
|
Most Recent Note - 10/11/2021 4:52:39 PM
Y - Volume totals have been cooling. Sputtering below Its 50 DMA line ($130) and testing prior highs in the $124-127 area which define important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Found Support Near Prior High While Consolidating - 10/8/2021 |
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A
S
I |
MEDP
-
NASDAQ
Medpace Holdings Inc
Medical-Research Eqp/Svc
|
$183.55
|
+0.81
0.44% |
$183.87
|
76,944 46.35% of 50 DAV
50 DAV is 166,000
|
$199.04 -7.78%
|
9/10/2021
|
$196.32
|
PP = $196.22
|
MB = $206.03
|
Most Recent Note - 10/11/2021 4:55:46 PM
Y - Quietly slumped from near its 52-week high with a loss today on light volume testing its 50 DMA line ($184.63). More damaging losses would raise concerns. Highlighted in yellow with pivot point cited based on its 4/26/21 high plus 10 cents in the 9/10/21 mid-day report. Subsequent gains and strong close above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Negative Reversal Indicative of Distributional Pressure - 9/10/2021 |
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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 |
JEF
-
NYSE
Jefferies Financial Grp
Finance-Invest Bnk/Bkrs
|
$40.56
|
+0.12
0.30% |
$40.75
|
2,024,045 116.93% of 50 DAV
50 DAV is 1,731,000
|
$40.94 -0.93%
|
6/28/2021
|
$31.81
|
PP = $34.42
|
MB = $36.14
|
Most Recent Note - 10/11/2021 12:35:18 PM
G - Posting a 7th consecutive gain today for another new all-time high. Its 50 DMA line ($36.43) defines important near-term support to watch on pullbacks. Reported Aug '21 quarterly earnings +713% on +70% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Perched at 52-week High With Earnings News Due - 9/29/2021 |
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A
S
I |
AVTR
-
NYSE
Avantor Inc
Medical-Research Eqp/Svc
|
$37.20
|
+0.05
0.13% |
$37.39
|
5,677,320 149.68% of 50 DAV
50 DAV is 3,793,000
|
$44.37 -16.16%
|
6/10/2021
|
$32.94
|
PP = $34.09
|
MB = $35.79
|
Most Recent Note - 10/12/2021 12:00:13 PM
G - Gapped down today violating its 50 DMA line ($40.39) and also undercutting the recent low ($39.24 on 10/01/21) with a damaging volume-driven loss triggering technical sell signals. Completed a Secondary Offering on 9/13/21 while perched at its all-time high, very extended from any sound base.
>>> FEATURED STOCK ARTICLE : Pulled Back Finding Support Near 50-Day Moving Average - 10/11/2021 |
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MIME
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NASDAQ
Mimecast Limited
Computer Sftwr-Security
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$64.39
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+1.49
2.37% |
$65.52
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326,263 33.77% of 50 DAV
50 DAV is 966,000
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$71.45 -9.88%
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8/2/2021
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$56.12
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PP = $59.58
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MB = $62.56
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Most Recent Note - 10/12/2021 5:42:21 PM
G - Recently slumped below its 50 DMA line ($64.27) toward prior highs in the $59 area defining near-term support to watch. Fundamentals remain strong. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Consolidating After Getting Extended from Previous Base Noted - 9/21/2021 |
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