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AFTER MARKET UPDATE - FRIDAY, OCTOBER 21ST, 2016
Previous After Market Report Next After Market Report >>>
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DOW |
-16.64 |
18,145.71 |
-0.09% |
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Volume |
863,806,920 |
+12% |
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Volume |
1,503,540,462 |
-6% |
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NASDAQ |
+15.57 |
5,257.40 |
+0.30% |
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Advancers |
1,501 |
51% |
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Advancers |
1,263 |
45% |
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S&P 500 |
-0.18 |
2,141.16 |
-0.01% |
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Decliners |
1,438 |
49% |
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Decliners |
1,514 |
54% |
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Russell 2000 |
-1.69 |
1,218.10 |
-0.14% |
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52 Wk Highs |
72 |
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52 Wk Highs |
53 |
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S&P 600 |
-1.81 |
733.89 |
-0.25% |
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52 Wk Lows |
24 |
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52 Wk Lows |
43 |
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Nasdaq Composite Index Rebounded Above 50-Day Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
For the week, the Dow was up 0.1%, the S&P added 0.4%, and the Nasdaq gained 0.8%. Stocks finished little changed on Friday. The Dow was down 16 points to 18145. The S&P 500 slipped less than a point to 2141 and the Nasdaq Composite gained 15 points to 5257. The reported volume totals were mixed, higher than the prior session total on the NYSE and lighter on the Nasdaq exchange. Advancers narrowly outnumbered decliners on the NYSE while decliners led advancers by 5-3 on the Nasdaq exchange. There were 14 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 12 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. PICTURED: The Nasdaq Composite Index rose to close the week above its 50-day moving average (DMA) line.
Recent deterioration in the charts of the major averages (M criteria) and evaporating leadership (fewer stocks hitting new highs) are signs that the uptrend is under pressure. The S&P 500 Index and the Dow Jones Industrial Average met resistance near their respective 50 DMA lines and abruptly retreated near prior lows. The Featured Stocks Page lists noteworthy high-ranked leaders.
The major averages fluctuated in choppy trading as a stronger U.S. dollar weighed against corporate earnings reports. In FOREX, the Dollar Index gained 0.4%, with particular strength against the euro. On the M&A front, Reynolds American (RAI +14.01%) rose after British American Tobacco submitted a $47 billion offer for the remaining stake in the company. Shares of Time Warner (TWC +7.82%) rose amid reports the company is in advanced talks to be acquired by AT&T (T -3.00%).
Seven of 11 sectors in the S&P 500 finished in negative territory. In earnings, Schlumberger (SLB -3.04%) fell after reporting an 82% drop in profit from a year earlier. Industrials declined with General Electric (GE -0.31%) edging lower as the company cut its forecast for organic sales growth. In Tech, Microsoft (MSFT +4.21%) gapped up for a new all-time high after revenue for its cloud business rose 8.3% this quarter. In the consumer space, McDonald’s (MCD +3.04%) was higher as global comparable-store sales increased 3.5%. Shares of PayPal (PYPL +10.13%) after being the subject of positive analyst commentary.
Treasuries advanced with the benchmark 10-year note up 6/32 to yield 1.73%. In commodities, NYMEX WTI crude added 0.5% to $50.88/barrel. COMEX gold was little changed at $1265.90/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retailers and Financials Rose While Techs and Commodities Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial shares edged higher on Friday as the Broker/Dealer Index ($XBD +0.48%) and the Bank Index ($BKX +0.28%) both posted small gains. The Retail Index ($RLX +0.73%) posted a slightly better gain. The Gold & Silver Index ($XAU -0.69%) and the Oil Services Index ($OSX -0.89%) both fell while the Integrated Oil Index ($XOI +0.03%) finished flat. The Networking Index ($NWX +0.11%) inched higher while the Biotechnology Index ($BTK -0.03%) finished flat and the Semiconductor Index ($SOX -0.27%) was slightly lower. Charts courtesy www.stockcharts.com
 PICTURED: The Biotechnology Index ($BTK -0.03%) has recently been sputtering below its 200-day moving average (DMA) line.
| Oil Services |
$OSX |
163.48 |
-1.47 |
-0.89% |
+3.65% |
| Integrated Oil |
$XOI |
1,164.20 |
+0.38 |
+0.03% |
+8.53% |
| Semiconductor |
$SOX |
814.53 |
-2.19 |
-0.27% |
+22.77% |
| Networking |
$NWX |
393.43 |
+0.45 |
+0.11% |
+4.65% |
| Broker/Dealer |
$XBD |
173.79 |
+0.83 |
+0.48% |
-2.41% |
| Retail |
$RLX |
1,353.01 |
+9.86 |
+0.73% |
+5.42% |
| Gold & Silver |
$XAU |
86.87 |
-0.60 |
-0.69% |
+91.77% |
| Bank |
$BKX |
73.69 |
+0.20 |
+0.27% |
+0.83% |
| Biotech |
$BTK |
3,058.37 |
-0.93 |
-0.03% |
-19.81% |
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Very Extended From Base Following Additional Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Netease Inc (NTES -0.97% or -0.37% to $263.53) is still holding its ground stubbornly near its all-time high with recent volume totals cooling. It rallied higher since last shown in this FSU section on 9/21/16 with an annotated graph under the headline, "Extended From Prior Base". It has not formed a sound base of sufficient length since and it has been repeatedly noted - "Very extended from any sound base. Its 50 DMA line defines near-term support to watch".
Keep in mind it is due to report earnings on 11/09/16, and volume and volatility often increase near earnings news. NTES reported earnings +89% on +83% sales revenues for the Jun '16 quarter, continuing its strong earnings track record and marking its 4th consecutive quarter with earnings above the +25% minimum guideline (C criteria). Annual earnings (A criteria) growth also has been strong.
Since shown in this FSU section on 6/29/16 the Computer Software - gaming group has seen its Group Relative Strength Rating of rise to 98 from 37, a reassuring improvement regarding the L criteria. NTES has traded up as much as +49.4% since highlighted in yellow with pivot point cited based on its 12/29/15 high plus 10 cents in the 6/29/16 mid-day report (read here).
The number of top-rated funds owning its shares rose from 467 in Jun '15 to 846 in Sep '16, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is also 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 |
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Max Buy |
TDG
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NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services
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$262.86
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+2.67
1.03% |
$263.26
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406,142
112.19% of 50 DAV
50 DAV is 362,000
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$294.38
-10.71%
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5/11/2016
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$248.33
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PP = $245.00
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MB = $257.25
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Most Recent Note - 10/20/2016 5:36:53 PM
G - Rebounded near its 50 DMA line with today's volume-driven gain while issuing a Special Dividend. See the latest FSU analysis for additional details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Needed - 10/19/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CSFL
-
NASDAQ
Centerstate Banks Inc
Banks-Southeast
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$18.64
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-0.15
-0.80% |
$18.79
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196,957
118.65% of 50 DAV
50 DAV is 166,000
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$19.08
-2.31%
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10/10/2016
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$18.20
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PP = $18.37
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MB = $19.29
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Most Recent Note - 10/19/2016 5:23:31 PM
Y - Hit a new 52-week high with today's gain above its pivot point backed by +91% above average volume triggering a technical buy signal under the fact-based investment system's guidelines. Damaging losses below its 50 DMA line would trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Challenged 52-Week High With Another Volume-Driven Gain - 10/10/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
IESC
-
NASDAQ
I E S Holdings Inc
Bldg-Maintenance and Svc
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$15.75
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-0.10
-0.63% |
$16.05
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37,974
49.97% of 50 DAV
50 DAV is 76,000
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$18.16
-13.27%
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7/26/2016
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$15.79
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PP = $15.74
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MB = $16.53
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Most Recent Note - 10/18/2016 3:33:58 PM
G - Found support at prior low ($15.00 on 9/14/16). More damaging losses would raise serious concerns. Only a prompt rebound above the 50 DMA line ($16.12) would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Wedging Higher With Recent Gains Lacking Great Volume - 9/27/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
NTES
-
NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$263.53
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-0.97
-0.37% |
$264.99
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441,369
36.15% of 50 DAV
50 DAV is 1,221,000
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$272.58
-3.32%
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6/29/2016
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$182.42
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PP = $186.55
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MB = $195.88
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Most Recent Note - 10/20/2016 5:34:09 PM
G - Holding its ground stubbornly near its all-time high with recent volume totals cooling. Repeatedly noted - "Very extended from any sound base. Its 50 DMA line defines near-term support to watch."
>>> FEATURED STOCK ARTICLE : Very Extended From Base Following Additional Gains - 10/21/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
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$45.59
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+0.36
0.80% |
$46.09
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94,735
49.34% of 50 DAV
50 DAV is 192,000
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$47.72
-4.46%
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9/29/2016
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$46.12
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PP = $47.82
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MB = $50.21
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Most Recent Note - 10/17/2016 4:55:22 PM
Y - Quietly consolidating near its 50 DMA line ($44.37) and prior low ($43.50 on 9/12/16) which define near term support where violations would raise concerns and trigger technical sell signals. Subsequent volume-driven gains for new highs may trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Possibly Forming New Base While Holding Ground Near Highs - 9/20/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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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 |
PATK
-
NASDAQ
Patrick Industries Inc
WHOLESALE - Building Materials Wholesale
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$61.15
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-0.10
-0.16% |
$61.55
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78,380
38.42% of 50 DAV
50 DAV is 204,000
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$69.53
-12.05%
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9/28/2016
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$64.85
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PP = $66.87
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MB = $70.21
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Most Recent Note - 10/20/2016 5:32:54 PM
G - Color code is changed to green while quietly slumping below its 50 DMA line ($62.88) with recent losses on light volume. A new pivot point was cited based on its 9/06/16 high, however a rebound above the 50 DMA line and volume-driven gains above the pivot point are still needed to trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Found Support While Building on a New "Double Bottom" Base Pattern - 9/28/2016 |
View all notes |
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Company Profile |
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News |
Chart |
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C
A
S
I |
PAYC
-
NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software
|
$49.97
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+1.22
2.50% |
$50.04
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792,075
150.30% of 50 DAV
50 DAV is 527,000
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$52.93
-5.59%
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10/18/2016
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$50.25
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PP = $53.03
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MB = $55.68
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Most Recent Note - 10/21/2016 6:05:49 PM
Y - Rebounded to its 50 DMA line ($49.96) with today's solid gain backed by +50% above average volume. Subsequent volume-driven gains above its pivot point are still needed to trigger a technical buy signal. Support is defined by the recent low in the $46 area. Reported earnings +110% on +61% sales revenues for the Jun '16 quarter, and prior quarterly earnings were above the +25% minimum guideline (C criteria). See the latest FSU analysis for additional details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Technical Breakout Needed to Trigger a Proper Buy Signal - 10/18/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
SFBS
-
NASDAQ
Servisfirst Bancshares
BANKING - Regional - Southeast Banks
|
$53.33
|
+0.10
0.19% |
$53.42
|
61,024
107.06% of 50 DAV
50 DAV is 57,000
|
$53.58
-0.47%
|
7/19/2016
|
$53.28
|
PP = $52.82
|
|
MB = $55.46
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Most Recent Note - 10/19/2016 5:21:48 PM
Y - Color code is changed to yellow after today's gain backed by +127% above average volume challenged its 52-week high and helped clinch a technical buy signal. Found support after undercutting its 50 DMA line ($51.81) More damaging losses would raise concerns.
>>> FEATURED STOCK ARTICLE : Relative Strength Rating is Under Guidelines While Perched Near Highs - 9/22/2016 |
View all notes |
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News |
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C
A
S
I |
INGN
-
NASDAQ
Inogen Inc
HEALTH SERVICES - Medical Instruments and Supplies
|
$58.52
|
-0.24
-0.41% |
$58.66
|
114,539
70.27% of 50 DAV
50 DAV is 163,000
|
$61.87
-5.41%
|
8/5/2016
|
$51.72
|
PP = $56.08
|
|
MB = $58.88
|
Most Recent Note - 10/20/2016 5:30:30 PM
G - Found support near its Sep '15 high in the $56 area and today's rebound above the 50 DMA line helped its outlook improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Line Helped Outlook - 10/20/2016 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$27.16
|
-0.26
-0.95% |
$27.38
|
375,588
34.49% of 50 DAV
50 DAV is 1,089,000
|
$28.72
-5.43%
|
10/4/2016
|
$27.36
|
PP = $28.70
|
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MB = $30.14
|
Most Recent Note - 10/17/2016 4:59:47 PM
Y - Still quietly consolidating above its 50 DMA line ($26.55) since highlighted in yellow with new pivot point cited based on its 9/01/16 high plus 10 cents. Members were repeatedly reminded in prior notes - "Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal."
>>> FEATURED STOCK ARTICLE : Gapped Up on News Being Added to S&P 600 Small Cap Index - 10/4/2016 |
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Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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 |
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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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