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AFTER MARKET UPDATE - THURSDAY, NOVEMBER 9TH, 2017
Previous After Market Report Next After Market Report >>>
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DOW |
-101.42 |
23,461.94 |
-0.43% |
|
Volume |
886,294,910 |
+1% |
|
Volume |
2,225,776,220 |
+5% |
|
NASDAQ |
-39.07 |
6,750.05 |
-0.58% |
|
Advancers |
1,097 |
38% |
|
Advancers |
1,055 |
42% |
|
S&P 500 |
-9.76 |
2,584.62 |
-0.38% |
|
Decliners |
1,817 |
62% |
|
Decliners |
1,440 |
58% |
|
Russell 2000 |
-6.72 |
1,475.02 |
-0.45% |
|
52 Wk Highs |
71 |
|
|
52 Wk Highs |
68 |
|
|
S&P 600 |
-3.82 |
893.16 |
-0.43% |
|
52 Wk Lows |
70 |
|
|
52 Wk Lows |
91 |
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Leadership Wanes as Major Indices Retreat From Record Highs
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks finished lower Thursday. The Dow lost 101 points to 23461. The S&P 500 fell 9 points to 2584. The Nasdaq dropped 39 points to 6750. Volume totals reported were slightly higher than the prior session totals on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by more than 3-2 on the NYSE and by a 7-5 margin on the Nasdaq exchange. Leadership waned as there were 22 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 48 on the prior session. New 52-week highs and new 52-week lows totals were evenly matched on the NYSE, but new lows outnumbered new highs on the Nasdaq exchange. The Featured Stocks Page provides the latest analysis on noteworthy high-ranked leaders. Charts used courtesy of www.stockcharts.com
 PICTURED: The Dow Jones Industrial Average's small loss broke a 7 session winning streak into new high territory.
Leadership has recently been waning, however, the major averages (M criteria) are still in a confirmed uptrend. Investors should only consider stocks meeting all key criteria of the fact-based investment system as they trigger technical buy signals.
The major averages fell from record levels as investors digested a deluge of updates on tax reform. On Thursday, GOP Senators released their own tax plan which included a one year delay on the reduction of the corporate tax rate. On the economic front, initial jobless claims were 239,000, versus projections of 232,000. In a separate release the Commerce Department revealed wholesale inventories grew 0.3% in September in line with consensus estimates. In central bank news, the confirmation hearing for Jerome Powell’s Fed chair nomination was scheduled for November 28th.
Six of 11 S&P 500 sectors were lower. The Technology sector underperformed as Nvidia (NVDA -1.84%) pulled back ahead of its scheduled quarterly release after the close. In other earnings news, CenturyLink (CTL -4.80%) fell after the communication company missed revenue projections. Kohl’s (KSS +0.93%) eked out a small gain after results came in below analyst forecasts. The Consumer Discretionary sector was a notable outperformer as Coty (COTY +13.82%) and Macy’s (M +10.98%) rose after both companies’ topped earnings estimates.
Treasuries finished lower as the yield on the benchmark 10-year note climbed one basis point to 2.33%. In commodities, NYMEX WTI crude added 0.5% to $57.08/barrel. COMEX gold gained 0.2% to $1286.90/ounce amid a weaker dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech Sector and Bank Index Fell
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Thursday the Retail Index ($RLX +0.22%) posted a modest gain, meanwhile the Broker/Dealer Index ($XBD -0.06%) finished flat and the Bank Index ($BKX -0.79%) fell. The tech sector lagged as the Networking Index ($NWX -2.26%), Semiconductor Index ($SOX -2.00%) and the Biotechnology Index ($BTK -0.73%) fell. The Gold & Silver Index ($XAU -0.64%) edged lower, the Integrated Oil Index ($XOI +0.06%) finished flat, and the Oil Services Index ($OSX +0.77%) was a standout gainer. Charts courtesy www.stockcharts.com
 PICTURED: The Biotechnology Index ($BTK -0.73%) recently met resistance at its 50-day moving average (DMA) line while trying to rebound toward its record high.
| Oil Services |
$OSX |
142.21 |
+1.09 |
+0.77% |
-22.62% |
| Integrated Oil |
$XOI |
1,281.95 |
+0.81 |
+0.06% |
+1.10% |
| Semiconductor |
$SOX |
1,294.66 |
-26.47 |
-2.00% |
+42.82% |
| Networking |
$NWX |
458.46 |
-10.59 |
-2.26% |
+2.77% |
| Broker/Dealer |
$XBD |
244.77 |
-0.16 |
-0.06% |
+19.24% |
| Retail |
$RLX |
1,592.57 |
+3.48 |
+0.22% |
+18.58% |
| Gold & Silver |
$XAU |
81.88 |
-0.53 |
-0.64% |
+3.83% |
| Bank |
$BKX |
97.99 |
-0.79 |
-0.80% |
+6.75% |
| Biotech |
$BTK |
4,114.44 |
-30.30 |
-0.73% |
+33.80% |
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Perched at Record High Following Volume-Driven Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Arista Networks Inc (ANET -$0.64 or -0.30% to $213.55) paused at its all-time high today after posting 4 consecutive volume-driven gains, rallying above its "max buy" level, getting extended from the previously noted base. Big volume-driven gains helped its outlook improve after an abrupt pullback below the 50-day moving average (DMA) line. It was noted in the 11/03/17 mid-day report - "Reported earnings +95% on +51% sales revenues for the Sep '17 quarter. Volume and volatility often increase near earnings news."
Fundamentals remain very strong. It was last shown in this FSU section on 10/16/17 with an annotated graph under the headline, "Perched Near All-Time High, Extended From Any Sound Base". ANET has shown strong and steady increases in quarterly sales revenues while earnings have routinely been well above the +25% minimum guideline (C criteria). Its annual earnings (A criteria) growth has been strong, however, its history is limited since its $43 IPO in June of 2014. It traded up as much as +134.8% since first highlighted at $93.80 in yellow with pivot point cited based on its 2015 high plus 10 cents in the 11/21/16 mid-day report (read here).
The number of top-rated funds owning its shares rose from 360 in Dec '15 to 654 Sep '17, a reassuring sign concerning the I criteria. The high-ranked Computer - Networking firm has a Timeliness Rating of A and a Sponsorship Rating of B. Its small supply of 45.3 million shares (S criteria) in the public float may contribute to greater 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 |
THO
-
NYSE
Thor Industries Inc
AUTOMOTIVE - Recreational Vehicles
|
$130.00
|
-0.24
-0.18% |
$130.77
|
618,310
89.74% of 50 DAV
50 DAV is 689,000
|
$138.07
-5.84%
|
8/14/2017
|
$106.67
|
PP = $110.01
|
|
MB = $115.51
|
Most Recent Note - 11/7/2017 3:54:46 PM
G - Pulling back with higher (near average) volume after wedging to new all-time highs with gains lacking great volume conviction. Still very extended from the previously noted base. Its 50 DMA line ($123) defines near-term support above prior highs in the $115 area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base With Volume Totals Cooling - 10/13/2017 |
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C
A
S
I |
PFBC
-
NASDAQ
Preferred Bank Los Angls
BANKING - Regional - Pacific Banks
|
$57.65
|
-0.44
-0.76% |
$58.22
|
88,802
112.84% of 50 DAV
50 DAV is 78,700
|
$66.58
-13.41%
|
10/10/2017
|
$59.38
|
PP = $59.08
|
|
MB = $62.03
|
Most Recent Note - 11/8/2017 5:16:12 PM
Y - Slumped below prior highs in the $60 area raising concerns while completely negating the recent breakout. Its 50 DMA line ($57.56) defines important near-term support where a violation would raise greater concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Slump Back Into Prior Base Raised Concerns - 11/8/2017 |
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C
A
S
I |
AVGO
-
NASDAQ
Broadcom Limited
ELECTRONICS - Semiconductor - Broad Line
|
$265.64
|
-6.76
-2.48% |
$270.40
|
3,005,670
101.27% of 50 DAV
50 DAV is 2,968,000
|
$281.80
-5.73%
|
10/30/2017
|
$261.19
|
PP = $259.46
|
|
MB = $272.43
|
Most Recent Note - 11/6/2017 12:26:28 PM
G - Trading near its "max buy" level, it triggered a new (or add-on) technical buy signal with volume-driven gains noted last week. Churning above average volume today while hitting another new all-time high and reversing into the red following news it made a bid for Qualcomm Inc (QCOM). Its current Relative Strength rating of 86 is above the 80+ minimum guideline for buy candidates. Subsequent losses below the 50 DMA line and recent low ($231.53 on 9/25/17) would raise serious concerns and trigger a more worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Moving Average Line Again - 10/17/2017 |
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C
A
S
I |
YY
-
NASDAQ
YY Inc Ads
INTERNET - Internet Service Providers
|
$90.65
|
+1.25
1.40% |
$91.09
|
819,220
59.93% of 50 DAV
50 DAV is 1,367,000
|
$97.59
-7.11%
|
9/25/2017
|
$80.26
|
PP = $83.10
|
|
MB = $87.26
|
Most Recent Note - 11/7/2017 2:03:11 PM
G - Found support above prior highs in the $83 area and above its 50 DMA line ($84.95) defining important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Extended After Rallying From Base - 10/19/2017 |
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C
A
S
I |
STMP
-
NASDAQ
Stamps.com Inc
INTERNET - Internet Software and Services
|
$174.30
|
-3.00
-1.69% |
$175.70
|
470,008
108.30% of 50 DAV
50 DAV is 434,000
|
$233.13
-25.23%
|
9/11/2017
|
$193.65
|
PP = $220.35
|
|
MB = $231.37
|
Most Recent Note - 11/7/2017 4:22:00 PM
G - A rebound above the 50 DMA line ($207.87) is needed for its outlook to improve. Holding its ground since it gapped down on 11/03/17 with a damaging volume-driven loss. Violated its 50 DMA line and undercut the recent low ($195.05 on 9/28/17) triggering technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Perched Near Record High Ahead of Earnings News - 11/1/2017 |
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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 |
HTHT
-
NASDAQ
China Lodging Group Ads
LEISURE - Lodging
|
$126.42
|
-1.38
-1.08% |
$127.00
|
698,321
167.46% of 50 DAV
50 DAV is 417,000
|
$142.80
-11.47%
|
9/29/2016
|
$46.12
|
PP = $47.82
|
|
MB = $50.21
|
Most Recent Note - 11/7/2017 4:09:56 PM
G - Found support at its 50 DMA line ($123.36) since proposing a new Public Offering on 10/26/17 and enduring distributional pressure. It is very extended from any sound base. Earnings +19% on +18% sales revenues for the Jun '17 quarter were below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Testing 50-Day Moving Average Line After Proposed Offering - 11/2/2017 |
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C
A
S
I |
LMAT
-
NASDAQ
Lemaitre Vascular Inc
Medical-Products
|
$33.39
|
+0.39
1.18% |
$33.40
|
176,756
83.93% of 50 DAV
50 DAV is 210,600
|
$39.88
-16.27%
|
7/28/2017
|
$33.50
|
PP = $33.32
|
|
MB = $34.99
|
Most Recent Note - 11/7/2017 4:18:22 PM
G - Halted its slide at its 200 DMA line after gapping down and violating its 50 DMA line with a volume-driven loss on 10/27/17 triggering technical sell signals. Its Relative Strength rating has slumped to 78, below the 80+ minimum guideline for buy candidates. A rebound above the 50 DMA line is needed for its outlook to improve. More damaging losses would raise greater concerns. Reported Sep '17 quarterly earnings +47% on +7% sales revenues.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average Before Earnings - 10/18/2017 |
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C
A
S
I |
PATK
-
NASDAQ
Patrick Industries Inc
Bldg-Mobile/Mfg and RV
|
$87.85
|
-1.15
-1.29% |
$88.75
|
72,773
92.12% of 50 DAV
50 DAV is 79,000
|
$96.25
-8.73%
|
10/26/2017
|
$90.90
|
PP = $87.90
|
|
MB = $92.30
|
Most Recent Note - 11/7/2017 3:59:45 PM
Y - Pulling back with 3 consecutive losses on lighter than average volume. Prior highs in the $86-87 area define initial support to watch above its 50 DMA line. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume 4 Times Average Behind Breakout Gain on Earnings News - 10/26/2017 |
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C
A
S
I |
ESNT
-
NYSE
Essent Group Ltd
Finance-MrtgandRel Svc
|
$42.22
|
+0.43
1.03% |
$42.69
|
1,378,501
162.96% of 50 DAV
50 DAV is 845,900
|
$45.10
-6.39%
|
10/9/2017
|
$39.75
|
PP = $41.54
|
|
MB = $43.62
|
Most Recent Note - 11/6/2017 12:35:51 PM
Y - Finding prompt support near its 50 DMA line ($40.44) following last week's noted volume-driven losses. More damaging losses would trigger a technical sell signal. Due to report earnings news prior to the open on Thursday, November 9th.
>>> FEATURED STOCK ARTICLE : Perched Near High After Streak of Gains - 10/24/2017 |
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C
A
S
I |
FIVE
-
NASDAQ
Five Below Inc
Retail-DiscountandVariety
|
$57.39
|
-0.75
-1.29% |
$58.05
|
625,407
73.58% of 50 DAV
50 DAV is 850,000
|
$58.34
-1.62%
|
10/6/2017
|
$57.13
|
PP = $54.23
|
|
MB = $56.94
|
Most Recent Note - 11/7/2017 2:08:54 PM
Y - Quietly hovering near its "max buy" level and perched near its all-time high. Stayed above prior highs in the $54 area during its recent consolidation while it stayed well above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Prior Highs Define Important Support While Consolidating - 10/31/2017 |
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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 |
OLED
-
NASDAQ
Universal Display Corp
Elec-Misc Products
|
$169.60
|
+0.90
0.53% |
$169.95
|
779,871
80.98% of 50 DAV
50 DAV is 963,000
|
$170.00
-0.24%
|
8/31/2017
|
$128.22
|
PP = $127.78
|
|
MB = $134.17
|
Most Recent Note - 11/6/2017 1:05:37 PM
G - Hitting yet another new high today, getting very extended from a riskier "late stage" base pattern. Reported Sep '17 quarterly earnings of 28 cents per share versus a year-ago loss of 3 cents per share on sales revenues +104%. Volume and volatility often increase near earnings news. Its 50 DMA line ($132.80) and prior highs in the $130 area define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Prior Highs and 50-Day Average Define Near-Term Support - 10/25/2017 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment
|
$213.55
|
-0.64
-0.30% |
$217.92
|
1,010,583
136.94% of 50 DAV
50 DAV is 738,000
|
$216.00
-1.13%
|
10/27/2017
|
$195.65
|
PP = $196.37
|
|
MB = $206.19
|
Most Recent Note - 11/9/2017 5:23:01 PM
G - Paused today after 4 consecutive volume-driven gains into new high territory. Extended from the previously noted base. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High, Extended From Any Sound Base - 10/16/2017 |
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C
A
S
I |
GRUB
-
NYSE
Grubhub Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software
|
$61.64
|
-0.78
-1.25% |
$62.21
|
1,132,670
62.20% of 50 DAV
50 DAV is 1,821,000
|
$63.16
-2.41%
|
6/21/2017
|
$47.33
|
PP = $46.94
|
|
MB = $49.29
|
Most Recent Note - 11/7/2017 4:06:39 PM
G - Quietly holding its ground near its all-time high after impressive volume-driven gains. Rebound above its 50 DMA line ($54.90) helped its outlook improve. Reported Sep '17 quarterly earnings +22% on +32% sales revenues. The 2 latest quarters were below the +25% minimum earnings guideline (C criteria), raising fundamental concerns with regard to the fact-based investment system.
>>> FEATURED STOCK ARTICLE : Technical Strength in Popular Internet Platform - 10/27/2017 |
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C
A
S
I |
IBP
-
NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services
|
$60.75
|
+0.30
0.50% |
$61.20
|
319,348
188.96% of 50 DAV
50 DAV is 169,000
|
$70.25
-13.52%
|
9/19/2017
|
$59.15
|
PP = $60.10
|
|
MB = $63.11
|
Most Recent Note - 11/7/2017 5:26:59 PM
G - Raised concerns with today's 5th consecutive volume-driven loss and 50 DMA line ($62.54) violation triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. Prior highs in the $60 area also define important near-term support to watch. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Violation Triggered Technical Sell Signal - 11/7/2017 |
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C
A
S
I |
HQY
-
NASDAQ
"HealthEquity, Inc"
COMPUTER SOFTWARE and SERVICES - Healthcare Information Service
|
$50.77
|
+0.72
1.44% |
$50.78
|
357,462
63.71% of 50 DAV
50 DAV is 561,100
|
$55.31
-8.21%
|
11/6/2017
|
$54.63
|
PP = $52.87
|
|
MB = $55.51
|
Most Recent Note - 11/7/2017 1:51:28 PM
Y - Abruptly retreating back into the prior base with today's volume-driven loss, raising concerns. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. Highlighted in yellow with new pivot point cited based on its 10/04/17 high in the 11/06/17 mid-day report as it hit a new high with a considerable volume-driven gain triggering a technical buy signal. Recently tested and found support after rebounding above its 50 DMA line ($48.42). Three of the past 4 quarterly comparisons through Jul '17 were above the +25% minimum earnings guideline (C criteria). See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Hit New High With Big Volume-Driven Gain - 11/6/2017 |
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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 |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$43.55
|
+0.20
0.46% |
$43.60
|
420,118
87.16% of 50 DAV
50 DAV is 482,000
|
$46.90
-7.14%
|
9/8/2017
|
$45.20
|
PP = $46.18
|
|
MB = $48.49
|
Most Recent Note - 11/7/2017 2:01:30 PM
G - Slumping further below its 50 DMA line ($45.05) line with today's loss on light volume. A rebound above the 50 DMA line is needed for its outlook to improve. Prior low ($41.30 on 8/31/17) defines the next important support level where further deterioration would raise more serious concerns.
>>> FEATURED STOCK ARTICLE : Sell Signal Triggered by 50-Day Moving Average Violation on Higher Volume - 10/30/2017 |
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C
A
S
I |
HLI
-
NYSE
Houlihan Lokey Inc Cl A
Finance-Invest Bnk/Bkrs
|
$41.67
|
-0.01
-0.02% |
$41.77
|
360,374
128.71% of 50 DAV
50 DAV is 280,000
|
$44.15
-5.62%
|
9/18/2017
|
$37.04
|
PP = $39.78
|
|
MB = $41.77
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Most Recent Note - 11/7/2017 4:02:51 PM
Y - Color code is changed to yellow while quietly consolidating below its "max buy" level. On 10/26/17 it priced a Secondary Offering, and abruptly retreated from its all-time high. Such offerings typically hinder price performance for a short time, yet they also help to attract new or greater institutional interest (I criteria). Reported earnings +51% on +30% sales revenues for its second quarter ended September 30th versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Recent Gains Lacked Volume; Earnings Report Due Soon - 10/23/2017 |
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A
S
I |
ICHR
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NASDAQ
Ichor Holdings Ltd
ELECTRONICS - Semiconductor Equipment
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$29.82
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-0.63
-2.07% |
$30.31
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792,440
104.97% of 50 DAV
50 DAV is 754,900
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$35.51
-16.02%
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10/10/2017
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$29.39
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PP = $28.36
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MB = $29.78
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Most Recent Note - 11/7/2017 2:21:12 PM
G - Color code is changed to green after trading back above its "max buy" level. Due to report Sep '17 quarterly earnings news on Thursday, November 9th after the close. Volume and volatility often increase near earnings news. Found prompt support last week near prior highs in the $29 area and its 50 DMA line ($27.52). More damaging losses would raise greater concerns.
>>> FEATURED STOCK ARTICLE : Undercut Prior Highs and Tested 50-Day Moving Average Line - 11/3/2017 |
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A
S
I |
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