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AFTER MARKET UPDATE - TUESDAY, NOVEMBER 6TH, 2018
Previous After Market Report Next After Market Report >>>
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DOW |
+173.31 |
25,635.01 |
+0.68% |
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Volume |
815,017,470 |
-13% |
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Volume |
2,279,804,200 |
+6% |
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NASDAQ |
+47.11 |
7,375.96 |
+0.64% |
|
Advancers |
1,867 |
62% |
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Advancers |
1,882 |
61% |
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S&P 500 |
+17.14 |
2,755.45 |
+0.63% |
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Decliners |
1,125 |
38% |
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Decliners |
1,186 |
39% |
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Russell 2000 |
+8.59 |
1,556.10 |
+0.55% |
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52 Wk Highs |
51 |
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52 Wk Highs |
45 |
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S&P 600 |
+5.53 |
980.27 |
+0.57% |
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52 Wk Lows |
65 |
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52 Wk Lows |
83 |
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Major Indices Edged Higher With a Bit More Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished higher Tuesday. The Dow added 173 points to 25635, while the S&P 500 climbed 17 points to 2755. The Nasdaq Composite gained 47 points to 7375. The volume totals reported were mixed, lighter on the NYSE and higher on the Nasdaq exchange versus the prior session. Advancers led decliners by more than a 3-2 margin on the NYSE and on the Nasdaq exchange. There were 22 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, doubling the total of 11 on the prior session. New 52-week lows totals still outnumbered new 52-week highs on the NYSE and Nasdaq exchange. Reports since October 10th have noted that the major indices (M criteria) have shown action indicative of a market correction. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index posted a small gain (+0.63%) on Tuesday with lighter volume which marked Day 6 of a new rally attempt. Technically, the market remains in a "correction" under the fact-based investment system. Members have been reminded repeatedly that new buying efforts are against the rules until a convincing follow-through day occurs. Between Day 4 and Day 7 investors should watch for a "follow-through day" of solid gains (at least +1%) from one or more of the major indices, backed by higher volume, and coupled with a leadership expansion (increase in new 52-week highs). All of the above are necessary elements required to confirm a new rally. Until then, patience and discipline are paramount.
The major averages inched upwards on light trading volume as investors await the results of the midterm elections. Interest rates also remained in focus during the session as the FOMC is set to begin a two-day policy meeting on Wednesday. On the data front, the Labor Department’s Job Openings and Labor Turnover Survey revealed the number of job openings eased slightly in September from a record high in the prior month.
All 11 S&P 500 sectors finished higher as the Industrials and Materials groups both climbed over 1.0%. Healthcare stocks also outperformed amid a flurry of earnings releases. Shares of CVS (CVS +5.71%) and Mylan (MYL +16.13%) rose after both companies topped analyst projections. Meanwhile, Eli Lilly (LLY -3.85%) fell after the pharmaceutical giant revealed several key drugs had disappointing sales in the third-quarter. Technology shares rebounded as International Business Machines (IBM +2.55%) and Apple (AAPL +1.08%) rose.
Treasuries were weaker along the curve as the yield on the 10-year note climbed two basis points 3.22%. In commodities, WTI crude slipped 1.4% to $62.19/barrel amid reports the U.S. has granted exemptions to several countries to continue importing Iranian oil. COMEX gold was off 0.4% to $1,227.80/ounce. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail, Financial, Tech, and Energy Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.41%), Broker/Dealer Index ($XBD +0.84%), and Retail Index ($RLX +0.79%) posted unanimous gains on Tuesday. The tech sector had a positive bias as the Networking Index ($NWX +0.69%) and Semiconductor Index ($SOX +1.14%) both rose, but the Biotech Index ($BTK -0.09%) finished flat. The Integrated Oil Index ($XOI +0.37%) and the Oil Services Index ($OSX +0.49%) both posted gains, meanwhile the Gold & Silver Index ($XAU -1.24%) was a standout decliner.
Charts courtesy of www.stockcharts.com
 PICTURED: The Broker/Dealer Index ($XBD +0.84%) recently slumped below the prior 2018 lows, yet it has rebounded to its 200-day moving average (DMA) line with a streak of 7 consecutive gains. Subsequent gains and progress above the 200 DMA line would be a reassuring sign for the broader market outlook.
| Oil Services |
$OSX |
123.06 |
+0.60 |
+0.49% |
-17.71% |
| Integrated Oil |
$XOI |
1,381.83 |
+5.10 |
+0.37% |
+3.47% |
| Semiconductor |
$SOX |
1,242.63 |
+14.03 |
+1.14% |
-0.83% |
| Networking |
$NWX |
530.33 |
+3.63 |
+0.69% |
+8.11% |
| Broker/Dealer |
$XBD |
266.95 |
+2.21 |
+0.84% |
+0.65% |
| Retail |
$RLX |
2,152.49 |
+16.97 |
+0.79% |
+24.15% |
| Gold & Silver |
$XAU |
66.31 |
-0.83 |
-1.24% |
-22.24% |
| Bank |
$BKX |
100.57 |
+0.41 |
+0.41% |
-5.75% |
| Biotech |
$BTK |
4,790.74 |
-4.25 |
-0.09% |
+13.47% |
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Hit New High Following Another Strong Earnings Increase
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Zebra Tech Corp Cl A (ZBRA +$10.74 or +6.39% to $178.74) was highlighted in yellow with new pivot point cited based on its 9/14/18 high plus 10 cents. Volume and volatility often increase near earnings news. It reported Sep '18 earnings +54% on +17% sales revenues, continuing its strong earnings track record. A new high was hit with today's volume-driven gain, but it failed to finish above the pivot point to trigger a convincing technical buy signal. Confirming volume-driven gains for the stock would be a reassuring sign, however, concerns also remain until a follow-through day confirms a new market rally (M criteria). It faces no resistance due to overhead supply. It found support in recent weeks after a pullback near its 200 DMA line.
Fundamentals remain strong. The past 3 quarters showed earnings increases above the +25% minimum guideline (C criteria). Recent sequential comparisons show encouraging sales revenues acceleration. Annual earnings (A criteria) history has been strong since a downturn in FY '08 and '09.
ZBRA was last shown in this FSU section on 10/23/18 with an annotated graph under the headline, "Zebra Tech Sputtering Near 50-Day Moving Average". It was highlighted in yellow with pivot point cited based on its 6/08/18 high plus 10 cents in the 8/07/18 mid-day report (read here).
The number of top-rated funds owning its shares from 553 in Sep '17 to 694 in Sep '18, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days. It has earned an A Timeliness Rating and a B Sponsorship Rating. There are 53.7 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling.
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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 |
MPX
-
NYSE
Marine Products Corp
AUTOMOTIVE - Recreational Vehicles
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$21.20
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-0.14
-0.66% |
$21.58
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19,715
48.09% of 50 DAV
50 DAV is 41,000
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$24.82
-14.59%
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10/24/2018
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$23.00
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PP = $24.92
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MB = $26.17
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Most Recent Note - 11/2/2018 5:57:22 PM
G - Still sputtering below its 50 DMA line ($21.67). A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Weak Finish Amid Widely Negative Market Environment - 10/24/2018 |
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C
A
S
I |
GMED
-
NYSE
Globus Medical Inc Cl A
CHEMICALS - Specialty Chemicals
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$55.91
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+1.33
2.44% |
$56.03
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682,503
100.96% of 50 DAV
50 DAV is 676,000
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$57.55
-2.85%
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9/26/2018
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$56.11
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PP = $57.65
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MB = $60.53
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Most Recent Note - 11/1/2018 10:19:33 AM
G - Consolidating near its 50 DMA line ($52.98). Subsequent gains above the pivot point backed by more than +40% above average volume are needed to trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Consolidating -5.2% Off 52-Week High Ahead of Earnings News - 11/5/2018 |
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C
A
S
I |
ZBRA
-
NASDAQ
Zebra Tech Corp Cl A
COMPUTER HARDWARE - Computer Peripherals
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$178.74
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+10.74
6.39% |
$184.75
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1,230,191
309.87% of 50 DAV
50 DAV is 397,000
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$179.47
-0.41%
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11/6/2018
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$170.41
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PP = $179.57
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MB = $188.55
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Most Recent Note - 11/6/2018 5:50:08 PM
Y - Hit a new high with today's volume-driven gain but did not finish above the pivot point to clinch a convincing technical buy signal.Color code was changed to yellow with new pivot point cited based on its 9/14/18 high plus 10 cents. Volume and volatility often increase near earnings news. Reported Sep '18 earnings +54% on +17% sales revenues, continuing its strong earnings track record. Concerns also remain until a follow-through day confirms a new market rally (M criteria). Found support in recent weeks after a pullback near its 200 DMA line. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Hit New High Following Another Strong Earnings Increase - 11/6/2018 |
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Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CME
-
NASDAQ
C M E Group Inc
DIVERSIFIED SERVICES - Business/Management Services
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$186.40
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+0.90
0.49% |
$188.49
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2,550,148
153.90% of 50 DAV
50 DAV is 1,657,000
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$186.76
-0.19%
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10/4/2018
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$179.29
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PP = $177.45
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MB = $186.32
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Most Recent Note - 11/6/2018 12:05:30 PM
G - Color code is changed to green while hitting yet another new all-time high and rising above its "max buy" level with above average volume behind today's 8th consecutive small gain. Found support above its 50 DMA line ($176) after recently reporting earnings +22% on +2% sales revenues for the Sep '18 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Broad market weakness (M criteria) is also a serious concern. The 50 DMA line and prior low ($170.04 on 9/28/18) define important near-term support.
>>> FEATURED STOCK ARTICLE : Perched Near High After Latest Earnings Report Below +25% Minimum - 10/26/2018 |
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C
A
S
I |
HZO
-
NYSE
Marinemax Inc
SPECIALTY RETAIL - Specialty Retail, Other
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$25.86
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+0.01
0.04% |
$26.11
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683,603
226.36% of 50 DAV
50 DAV is 302,000
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$25.90
-0.15%
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11/2/2018
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$25.10
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PP = $25.15
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MB = $26.41
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Most Recent Note - 11/6/2018 12:22:35 PM
Y - Perched at a new 52-week high today following an impressive streak of 6 consecutive volume-driven gains. Prior session's gain above the pivot point backed by +72% above average volume triggered a technical buy signal. Highlighted in yellow with pivot point cited based on its 6/07/18 high plus 10 cents in the 11/02/18 mid-day report. New buying efforts are discouraged until a convincing follow-through day confirms a new market rally (M criteria). Reported Sep '18 earnings +105% on +23% sales revenues, its 4th consecutive quarter with a big earnings increase versus the year ago period. Sales revenues growth has shown encouraging acceleration in sequential quarterly comparisons versus the year ago periods. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Boat Retailer Has Strong Earnings History - 11/2/2018 |
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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 |
DPZ
-
NYSE
Dominos Pizza Inc
Retail-Restaurants
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$263.56
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+3.30
1.27% |
$268.63
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556,617
95.80% of 50 DAV
50 DAV is 581,000
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$305.34
-13.68%
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8/13/2018
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$288.60
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PP = $293.91
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MB = $308.61
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Most Recent Note - 11/5/2018 5:54:09 PM
G - Volume totals have been cooling while finding support at its 200 DMA line ($257). A subsequent rebound above the 50 DMA line ($280) is needed for its outlook to improve. The prior low ($253.63 on 7/31/18) and 200 DMA line define important near-term support to watch. Reported earnings +54% on +22% sales revenues for the Sep '18 quarter, continuing its strong earnings track record.
>>> FEATURED STOCK ARTICLE : Found Support at 200-Day Moving Average Line - 10/31/2018 |
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C
A
S
I |
FIVE
-
NASDAQ
Five Below Inc
Retail-DiscountandVariety
|
$118.21
|
+1.12
0.96% |
$120.72
|
629,575
63.98% of 50 DAV
50 DAV is 984,000
|
$136.13
-13.16%
|
7/6/2018
|
$98.90
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PP = $104.09
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MB = $109.29
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Most Recent Note - 11/5/2018 5:56:12 PM
G - Slumped back below its 50 DMA line ($120) with today's loss on light volume. Recently found support near the prior high ($109.09 on 7/19/18), but more damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Sputtering Below 50-Day Moving Average Near Prior High - 10/25/2018 |
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C
A
S
I |
HQY
-
NASDAQ
Healthequity Inc
COMPUTER SOFTWARE and SERVICES - Healthcare Information Service
|
$95.38
|
-0.06
-0.06% |
$96.54
|
512,455
57.39% of 50 DAV
50 DAV is 893,000
|
$99.99
-4.61%
|
11/2/2018
|
$95.56
|
PP = $100.09
|
|
MB = $105.09
|
Most Recent Note - 11/2/2018 12:32:39 PM
Y - Color code is changed to yellow with new pivot point cited based on its 9/14/18 high plus 10 cents. Rebound above the 50 DMA line helped its outlook improve this week. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add on) technical buy signal. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Average Helped Outlook Improve - 11/1/2018 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$89.49
|
+0.33
0.37% |
$90.29
|
555,057
81.15% of 50 DAV
50 DAV is 684,000
|
$97.61
-8.32%
|
7/12/2018
|
$74.43
|
PP = $77.60
|
|
MB = $81.48
|
Most Recent Note - 11/5/2018 12:59:30 PM
G - Slumping below its 50 DMA line ($90.27) with today's big loss on higher volume raising concerns. The recent low ($84.66 on 10/11/18) defines the next important support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Finding Support Near its 50-Day Moving Average - 10/30/2018 |
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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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