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AFTER MARKET UPDATE - FRIDAY, NOVEMBER 27TH, 2020
Previous After Market Report Next After Market Report >>>
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|
|
|
DOW |
+37.90 |
29,910.37 |
+0.13% |
|
Volume |
530,148,181 |
-45% |
|
Volume |
3,322,604,700 |
-24% |
|
NASDAQ |
+111.44 |
12,205.85 |
+0.92% |
|
Advancers |
1,718 |
56% |
|
Advancers |
2,293 |
64% |
|
S&P 500 |
+8.70 |
3,638.35 |
+0.24% |
|
Decliners |
1,362 |
44% |
|
Decliners |
1,264 |
36% |
|
Russell 2000 |
+10.25 |
1,855.27 |
+0.56% |
|
52 Wk Highs |
191 |
|
|
52 Wk Highs |
293 |
|
|
S&P 600 |
-0.38 |
1,059.67 |
-0.04% |
|
52 Wk Lows |
1 |
|
|
52 Wk Lows |
12 |
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|
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Major Indices End Shortened Session Higher for Solid Weekly Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow inched up 37 points and finished the week 2.2% higher. The S&P 500 added 0.2% on the session to cap a 2.3% weekly increase. The Nasdaq Composite’s 0.9% gain topped off a weekly rally of just under 3%. The shortened session's reported volume totals were clearly lighter than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by an 8-7 margin on the NYSE and by nearly 2-1 on the Nasdaq exchange. There were 59 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 48 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows totals on both exchanges. The major indices confirmed a new uptrend (M criteria) with recent follow-through gains backed by higher volume and more leadership. Investors are reminded to always make buying and selling decisions based based on the strict criteria and rules of the fact-based investment system.  PICTURED: The benchmark S&P 500 Index recently rallied to a new record high with volume-driven gains.
U.S. stocks advanced modestly on Friday in a holiday-shortened trading session. It was a quiet day of news on Wall Street, with no economic data of note. The COVID pandemic remained at the forefront of investor’s minds, with upbeat vaccine data being weighed against a 17th consecutive day of record hospitalizations in the United States. On the political front, President Donald Trump announced for the first time that he would leave the White House if the Electoral College votes for President-elect Joe Biden.
Five of 11 S&P 500 sectors finished in positive territory, with Health Care stocks pacing the gains and Energy shares lagging. In corporate news, Amazon (AMZN +0.35%) as market participants awaited an update on Black Friday holiday shopping. Meanwhile, AstraZeneca (AZN) was essentially flat amid questions around the legitimacy of phase III trial results for its COVID vaccine.
Treasuries strengthened is an abbreviated session, with the yield on the benchmark 10-year note falling four basis points to 0.84%. In commodities, WTI crude oil slid 0.7% to $45.38/barrel amid concerns about next week’s OPEC+ meeting. Gold dipped 1.2% to $1783.30/ounce amid a weaker U.S. dollar. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Tech, Retail, Broker/Dealer, and Gold & Silver Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.74%) and Retail Index ($RLX +0.36%) both posted gains while the Bank Index ($BKX -1.04%) pulled back on Friday. The techsector had a positive bias as the Biotech Index ($BTK +1.40%) and Semiconductor Index ($SOX +1.21%) both outpaced the Networking Index ($NWX +0.48%). Commodity-linked groups were mixed as the Oil Services Index ($OSX -2.06%) and Integrated Oil Index ($XOI -1.25%) both fell while the Gold & Silver Index ($XAU +0.57%) edged higher.
PICTURED: The Biotech Index ($BTK +1.40%) is consolidating above its 50-day and 200-day moving average (DMA) lines.
| Oil Services |
$OSX |
42.03 |
-0.89 |
-2.06% |
-46.32% |
| Integrated Oil |
$XOI |
796.95 |
-10.08 |
-1.25% |
-37.28% |
| Semiconductor |
$SOX |
2,631.66 |
+31.42 |
+1.21% |
+42.28% |
| Networking |
$NWX |
648.90 |
+3.12 |
+0.48% |
+11.22% |
| Broker/Dealer |
$XBD |
352.59 |
+2.59 |
+0.74% |
+21.42% |
| Retail |
$RLX |
3,510.07 |
+12.59 |
+0.36% |
+43.31% |
| Gold & Silver |
$XAU |
133.76 |
+0.76 |
+0.57% |
+25.10% |
| Bank |
$BKX |
93.08 |
-0.98 |
-1.04% |
-17.89% |
| Biotech |
$BTK |
5,511.58 |
+76.34 |
+1.40% |
+8.76% |
|
|
|
 |
Quiet Volume Behind Gain Today for a New All-Time High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Atlassian Corp (TEAM +$7.65 or +3.54% to $224.00) hit a new all-time high with light volume behind today's 6th consecutive gain. It found prompt support after undercutting the prior low ($180) but did not form a sound new base of sufficient length.
Weak action came after it reported earnings +7% on +26% sales revenues for the Sep '20 quarter versus the year ago period, well below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. TEAM was highlighted in yellow with new pivot point cited based on its 9/01/20 high plus 10 cents in the 10/12/20 earlier mid-day report (read here). An annotated graph was last shown in the 11/02/20 report under the headline, "Weak Technical Action Followed Disappointing Fundamental News". It made limited headway after subsequent gains with above average volume triggered a new technical buy signal.
TEAM has a 94 Earnings Per Share rating. This Australia - based software developer's annual earnings (A criteria) history has been strong since its $21 IPO on 12/10/15. Its Relative Strength Rating is 86, above the 80+ minimum guideline for buy candidates.
The number of top-rated funds owning its shares rose from 266 in Sep '17 to 837 in Jun '20, a reassuring sign concerning the I criteria. It has a Timeliness Rating of B and Sponsorship Rating of A. Its current Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have been under slight distributional pressure 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 |
CRL
-
NYSE
Charles River Labs Intl
DRUGS - Biotechnology
|
$230.16
|
+3.81
1.68% |
$230.16
|
73,048
21.87% of 50 DAV
50 DAV is 334,000
|
$257.88
-10.75%
|
7/15/2020
|
$192.66
|
PP = $189.95
|
|
MB = $199.45
|
Most Recent Note - 11/24/2020 5:21:28 PM
G - Today's loss was backed by light volume but it violated an upward trendline and its 50 DMA line ($232) raising greater concerns while triggering worrisome technical sell signals. Only a prompt rebound above the 50 DMA line would help its outlook improve. Reported Sep '20 quarterly earnings +38% on +11% sales revenues versus the year ago period, above the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Consolidating Near Important Support Levels - 11/23/2020 |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
|
$87.19
|
+0.48
0.55% |
$88.00
|
22,658,557
45.06% of 50 DAV
50 DAV is 50,289,000
|
$94.28
-7.52%
|
11/18/2020
|
$82.54
|
PP = $88.72
|
|
MB = $93.16
|
Most Recent Note - 11/24/2020 5:17:34 PM
Y - Volume totals are cooling while still consolidating above its 50 DMA line ($81.23). Prior lows in the $73 area define important near term support. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Weak Action Raised Concern While Testing Recent Low - 11/3/2020 |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$109.40
|
+1.06
0.98% |
$110.83
|
848,680
39.29% of 50 DAV
50 DAV is 2,160,000
|
$110.03
-0.57%
|
10/21/2020
|
$92.22
|
PP = $93.54
|
|
MB = $98.22
|
Most Recent Note - 11/23/2020 5:24:15 PM
G - Posted another gain today with below average volume for new all-time high. Reported earnings +53% on +41% sales revenues for the Sep '20 quarter versus the year ago period, its 4th consecutive quarterly comparison with earnings above the +25% minimum earnings guideline (C criteria). Sequential comparisons show encouraging acceleration in its sales revenues growth rate. Its annual earnings (A criteria) history has been strong.
>>> FEATURED STOCK ARTICLE : Recent Gains for New Highs Lacked Great Volume Conviction - 11/11/2020 |
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C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
|
$74.63
|
+1.13
1.54% |
$75.38
|
315,632
40.52% of 50 DAV
50 DAV is 779,000
|
$81.23
-8.13%
|
6/26/2020
|
$54.53
|
PP = $66.47
|
|
MB = $69.79
|
Most Recent Note - 11/27/2020 2:25:48 PM
G - Posted a quiet gain today while consolidating above its 50 DMA line ($73.40). Found support when testing the prior low ($63.32 on 9/21/20). Recently noted that it reported Sep '20 quarterly earnings +14% on +19% sales revenues versus the year ago period, below the +25% minimum guideline (C criteria) raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Helped Technical Stance - 11/4/2020 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$23.55
|
-0.13
-0.55% |
$23.74
|
33,452
36.76% of 50 DAV
50 DAV is 91,000
|
$25.97
-9.32%
|
11/17/2020
|
$22.06
|
PP = $26.07
|
|
MB = $27.37
|
Most Recent Note - 11/25/2020 5:01:49 PM
Y - Posted a 4th consecutive small gain today on light volume. Recently found support at its 50 DMA line ($21.97). It has formed an advanced "ascending base" marked by 3 pullbacks of 10-20% after a big breakaway gap on 7/24/20. Subsequent gains above the pivot point marked by +40% above average volume are needed to trigger a proper technical buy signal. Reported earnings +57% on +14% sales revenues for the Sep '20 quarter versus the year ago period, its 3rd consecutive quarterly earnings comparison above the +25% minimum guideline (C criteria). Annual earnings (A criteria) history has improved after a downturn in FY '17.
>>> FEATURED STOCK ARTICLE : Formed Ascending Base Following Earlier Breakway Gap - 11/17/2020 |
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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 |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
|
$111.59
|
+2.00
1.82% |
$112.67
|
147,708
56.16% of 50 DAV
50 DAV is 263,000
|
$132.98
-16.09%
|
10/1/2020
|
$123.17
|
PP = $124.04
|
|
MB = $130.24
|
Most Recent Note - 11/24/2020 5:23:25 PM
G - Still below its 50 DMA line ($116) which may act as resistance after damaging volume-driven losses, and the longer it lingers there the worse its outlook gets. A rebound above the 50 DMA line is needed for its outlook to improve. Reported Sep '20 quarterly earnings +27% on +11% sales revenues versus the year ago period.
>>> FEATURED STOCK ARTICLE : Rebound Toward 50-Day Average Which May Act as Resistance - 11/10/2020 |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$527.48
|
+8.26
1.59% |
$529.78
|
721,156
55.95% of 50 DAV
50 DAV is 1,289,000
|
$537.53
-1.87%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 11/24/2020 5:13:31 PM
G - Consolidating above its 50 DMA line ($498) and still perched very near its all-time high. Tested the prior low ($472 on 11/03/20) noted as important support where a damaging violation raises greater concerns. Recently reported Sep '20 quarterly earnings +22% on +30% sales revenues versus the year ago period, below the +25% minimum guideline (C criteria) of the fact-based investment system. See the latest FSU analysis for more details and a new an annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Average Still Perched Near All-Time High - 11/24/2020 |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$276.45
|
+8.09
3.01% |
$276.87
|
745,974
87.76% of 50 DAV
50 DAV is 850,000
|
$313.99
-11.96%
|
10/6/2020
|
$287.71
|
PP = $298.86
|
|
MB = $313.80
|
Most Recent Note - 11/27/2020 2:35:17 PM
G - Posted a solid gain today with below average volume. A rebound above the 50 DMA line ($282) still is needed to help its outlook improve. Faces resistance due to overhead supply up to the $314 area.
>>> FEATURED STOCK ARTICLE : Weak Technical Action Raised Recent Concerns - 11/16/2020 |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
|
$74.42
|
+1.38
1.89% |
$74.42
|
155,712
43.13% of 50 DAV
50 DAV is 361,000
|
$79.38
-6.25%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 11/27/2020 2:28:43 PM
Y - Posted a gain today with light volume for its second-best ever close. Previously noted - "Subsequent gains above the pivot point may help clinch a convincing technical buy signal. Reported earnings +32% on +24% sales revenues for the Sep '20 quarter versus the year ago period, an improvement after +3% earnings in the Jun quarter. Prior quarterly comparisons were near or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been strong, a good match with the fact-based investment system."
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure as it Hit a New High - 11/9/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$224.00
|
+7.65
3.54% |
$224.00
|
847,869
45.22% of 50 DAV
50 DAV is 1,875,000
|
$217.54
2.97%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 11/27/2020 2:24:51 PM
G - Hit a new all-time high with light volume behind today's 6th consecutive gain.. Found prompt support after undercutting the prior low ($180) but it has not formed a sound new base of sufficient length. Reported earnings +7% on +26% sales revenues for the Sep '20 quarter versus the year ago period, well below the +25% minimum earnings guideline (C criteria), raising concerns. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Quiet Volume Behind Gain Today for a New All-Time High - 11/27/2020 |
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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 |
YETI
-
NYSE
Yeti Holdings Inc
Leisure-Products
|
$64.18
|
+0.60
0.94% |
$64.37
|
356,273
27.70% of 50 DAV
50 DAV is 1,286,000
|
$64.11
0.11%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 11/25/2020 5:04:37 PM
G - Posted a 2nd consecutive gain today with light volume hitting another new all-time high. Its 50 DMA line ($51.86) defines near-term support above prior lows.
>>> FEATURED STOCK ARTICLE : Finished Strong After Breakout Gain Was Noted in Mid-Day Report - 11/5/2020 |
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C
A
S
I |
BJ
-
NYSE
B J S Whlsl Club Hldgs
Retail-DiscountandVariety
|
$41.54
|
-0.30
-0.72% |
$42.20
|
957,191
40.59% of 50 DAV
50 DAV is 2,358,000
|
$47.46
-12.47%
|
11/19/2020
|
$42.97
|
PP = $47.56
|
|
MB = $49.94
|
Most Recent Note - 11/25/2020 5:00:12 PM
Y - Pulled back toward its 50 DMA line ($40.83) with a loss today on light volume. Facing some near-term resistance. Highlighted in yellow in the 11/19/20 mid-day report with pivot point cited based on its 8/26/20 high plus 10 cents. Subsequent volume-driven gains above the pivot point may trigger a technical buy signal. Reported Oct '20 quarterly results +124% on +16% sales revenues versus the year ago period, its 3rd consecutive strong quarterly comparison above the +25% minimum guideline (C criteria), helping it better match with the fundamental guidelines of the fact-based investment system. Annual earnings growth (A criteria) has been strong. Completed its new IPO at $17 on 6/28/19. Has a new CEO as of 2/03/20.
>>> FEATURED STOCK ARTICLE : Rebounding Near High With 3rd Strong Quarterly Report - 11/19/2020 |
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C
A
S
I |
AAXN
-
NASDAQ
Axon Enterprise Inc
Security/Sfty
|
$125.55
|
-2.19
-1.71% |
$128.70
|
255,568
45.72% of 50 DAV
50 DAV is 559,000
|
$130.41
-3.73%
|
11/6/2020
|
$122.75
|
PP = $113.00
|
|
MB = $118.65
|
Most Recent Note - 11/27/2020 2:27:26 PM
G - Pulled back with lighter volume today after wedging to new high territory with gains lacking volume conviction. Recently reported Sep '20 quarterly earnings +43% on +27% sales revenues versus the year ago period. It broke out of a cup-with-high-handle base with volume drying up during the handle.
>>> FEATURED STOCK ARTICLE : Breakaway Gap From Cup-With-High-Handle Pattern - 11/6/2020 |
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C
A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$115.10
|
-0.90
-0.78% |
$116.84
|
200,809
51.49% of 50 DAV
50 DAV is 390,000
|
$116.95
-1.58%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 11/27/2020 2:31:17 PM
G - Holding its ground stubbornly with volume totals cooling while perched at its all-time high, extended from the previously noted base. Showed great earning increases with strong underlying sales revenues growth for the Jun and Sep '20 quarters versus the year ago periods. Annual earnings growth has been strong. Completed new Public Offerings on 6/06/19 and 5/13/20.
>>> FEATURED STOCK ARTICLE : Churning Action Near Prior High Indicative of Distributional Pressure - 11/12/2020 |
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A
S
I |
|
|
|
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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by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
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