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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 2ND, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
+59.87 |
29,883.79 |
+0.20% |
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Volume |
997,382,089 |
-5% |
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Volume |
5,098,463,200 |
-21% |
|
NASDAQ |
-5.42 |
12,349.69 |
-0.04% |
|
Advancers |
1,873 |
60% |
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Advancers |
1,965 |
55% |
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S&P 500 |
+6.56 |
3,669.01 |
+0.18% |
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Decliners |
1,236 |
40% |
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Decliners |
1,616 |
45% |
|
Russell 2000 |
+1.98 |
1,838.03 |
+0.11% |
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52 Wk Highs |
105 |
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52 Wk Highs |
139 |
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S&P 600 |
+4.94 |
1,051.69 |
+0.47% |
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52 Wk Lows |
5 |
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52 Wk Lows |
10 |
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Major Indices Were Mixed With Less Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow reversed early session losses to add 59 points, while the S&P 500 gained 0.2% to a new all-time high. The Nasdaq Composite narrowly bucked the uptrend with a less than 0.1% decline. The volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 3-2 margin on the NYSE and by 5-4 on the Nasdaq exchange. There were 23 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 62 on the prior session. New 52-week highs totals contracted yet 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 has been hitting new record highs.
Stocks finished mixed on Wednesday, as equities fluctuated between small gains and losses a day after the S&P 500 and Nasdaq Composite rallied to fresh record closing highs. Fiscal stimulus updates continued to remain in focus, with renewed efforts by bipartisan lawmakers to craft a relief package reviving hope that Congressional leaders could come to an agreement.
On the data front, the ADP Employment report showed the U.S. added 307,000 private payrolls in November, lower than the expected 440,000 figure and October's upwardly revised 404,000 reading. Central bank news also garnered attention, with the Fed's Beige Book noting that "little or no growth" was seen in a third of their regional districts as COVID-19 cases surged in many parts of the country. Treasuries were mixed, with longer-dated Treasuries extending yesterday's slump. The yield on the 10-year note added two basis points to 0.94%, while the two-year note rate slipped one basis point to 0.16%.
Six of 11 S&P 500 sectors ended in positive territory. The Energy group outperformed, with WTI crude climbing 1.3% to $45.14/barrel after a government report showed U.S. crude stockpiles declined last week. In corporate news, Pfizer (PFE +3.53%) and BioNTech (BNTX +6.21%) both advanced after the U.K. granted emergency authorization for their joint COVID vaccine candidate. Salesforce.com (CRM -8.52%) after confirming reports from last week that it will acquire Slack Technologies (WORK -2.58%) for $27.7 billion. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Energy and Financial Indexes Posted Solid Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.37%) and Bank Index ($BKX +1.58%) both posted solid gains while the Retail Index ($RLX -0.72%) edged lower. The Semiconductor Index ($SOX +0.22%), Networking Index ($NWX +0.19%) and Biotech Index ($BTK +0.07%) each ended the session with a tiny gain. The Oil Services Index ($OSX +2.80%) and Integrated Oil Index ($XOI +2.98%) both posted solid gain while the Gold & Silver Index ($XAU +0.53%) edged higher.
PICTURED: The Broker/Dealer Index ($XBD +1.37%) is hitting a new all-time high.
| Oil Services |
$OSX |
41.86 |
+1.14 |
+2.80% |
-46.53% |
| Integrated Oil |
$XOI |
776.68 |
+22.50 |
+2.98% |
-38.87% |
| Semiconductor |
$SOX |
2,715.65 |
+5.92 |
+0.22% |
+46.82% |
| Networking |
$NWX |
648.74 |
+1.24 |
+0.19% |
+11.20% |
| Broker/Dealer |
$XBD |
358.27 |
+4.83 |
+1.37% |
+23.38% |
| Retail |
$RLX |
3,505.92 |
-25.59 |
-0.72% |
+43.14% |
| Gold & Silver |
$XAU |
140.66 |
+0.74 |
+0.53% |
+31.55% |
| Bank |
$BKX |
93.99 |
+1.46 |
+1.58% |
-17.09% |
| Biotech |
$BTK |
5,570.30 |
+3.81 |
+0.07% |
+9.92% |
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Volume Totals Cooloing While Stubbornly Holding Ground at High
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Yeti Holdings Inc (YETI +$0.34 or +0.54% to $62.81) is stubbornly holding its ground near its all-time high with volume totals cooling. Prior highs in the $54-55 area define initial support to watch above Its 50-day moving average (DMA) line ($53.25).
YETI was highlighted in yellow in the 11/05/20 mid-day report with pivot point cited based on its 8/06/20 high plus 10 cents (read here) and it was shown with an annotated graph that evening under the headline, "Finished Strong After Breakout Gain Was Noted in Mid-Day Report". It powered to a new all-time high (N criteria) with a big volume-driven gain clearing an orderly base and triggering a technical buy signal. Volume was +390% above average behind he gain, indicative of heavy institutional buying demand, but it quickly got extended from the prior high. Disciplined investors avoid chasing stocks more than +5% above their pivot point.
Bullish action came after it reported earnings +126% on +29% sales revenues for the Sep '20 quarter versus the year ago period, its 5th consecutive quarterly earnings increase above the +25% minimum earnings guideline (C criteria) of the fact-based investment system. Its limited annual earnings (A criteria) history was previously noted as a concern.
It hails from the Leisure-Products group which currently has a B+ (74) Group Relative Strength rating (L criteria). There is a small supply of only 87.1 million shares outstanding (S criteria). The number of top-rated funds owning its shares rose from 310 in Dec '19 to 490 in Sep '20, a reassuring sign concerning the I criteria. Completed Secondary Offerings on 5/12/20, 2/20/20, 11/08/19 and 5/08/19 after its $18 IPO on 10/25/18.
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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
|
$235.46
|
-1.80
-0.76% |
$236.86
|
198,711
62.68% of 50 DAV
50 DAV is 317,000
|
$257.88
-8.69%
|
7/15/2020
|
$192.66
|
PP = $189.95
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|
MB = $199.45
|
Most Recent Note - 11/30/2020 6:27:35 PM
G - The prompt rebound above its 50 DMA line ($232.62) helped 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
|
$93.74
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+1.11
1.20% |
$96.37
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57,590,325
114.62% of 50 DAV
50 DAV is 50,246,000
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$94.28
-0.57%
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11/18/2020
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$82.54
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PP = $88.72
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MB = $93.16
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Most Recent Note - 12/2/2020 12:17:24 PM
G - Trading further above its "max buy" level and hitting a new all-time high with today's gain. Rallied above the pivot point on 11/30/20 with a noted big gain backed by +69% above average volume triggering a technical buy signal. Its 50 DMA line ($82.63) defines important near term support.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind AMD's Breakout from Double Bottom Base - 11/30/2020 |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$113.96
|
-1.16
-1.01% |
$114.95
|
1,382,815
87.91% of 50 DAV
50 DAV is 1,573,000
|
$115.94
-1.71%
|
10/21/2020
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$92.22
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PP = $93.54
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MB = $98.22
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Most Recent Note - 12/1/2020 6:45:50 PM
G - Posted a big gain today with above average volume for another new all-time high close. 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
|
$73.85
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-1.28
-1.70% |
$75.31
|
623,405
85.28% of 50 DAV
50 DAV is 731,000
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$81.23
-9.09%
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6/26/2020
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$54.53
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PP = $66.47
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MB = $69.79
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Most Recent Note - 12/1/2020 6:43:54 PM
G - Posted a 3rd consecutive quiet gain today while consolidating above its 50 DMA line ($73.74). 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. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Back Above 50-Day Moving Average Line - 12/1/2020 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$23.74
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-0.41
-1.70% |
$24.25
|
61,763
68.63% of 50 DAV
50 DAV is 90,000
|
$25.97
-8.59%
|
11/17/2020
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$22.06
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PP = $26.07
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MB = $27.37
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Most Recent Note - 11/30/2020 12:18:39 PM
Y - Erased an early gain today after challenging its 52-week high. Near term support is defined by its 50 DMA line ($22.05) and an upward trendline. 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
|
$102.52
|
-5.11
-4.75% |
$107.67
|
375,085
147.61% of 50 DAV
50 DAV is 254,100
|
$132.98
-22.91%
|
10/1/2020
|
$123.17
|
PP = $124.04
|
|
MB = $130.24
|
Most Recent Note - 12/2/2020 5:59:35 PM
Slumped again today for a big loss with higher volume and finished near the session low. It will be dropped from the Featured Stocks list tonight due to technical deterioration.. A rebound above the 50 DMA line ($115.75) 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
|
$526.52
|
-13.07
-2.42% |
$535.00
|
1,053,113
82.40% of 50 DAV
50 DAV is 1,278,000
|
$541.74
-2.81%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 11/30/2020 6:26:10 PM
G - Posted a gain with above average volume for its second best ever close. 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.
>>> 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
|
$272.40
|
-11.80
-4.15% |
$278.13
|
3,818,189
437.87% of 50 DAV
50 DAV is 872,000
|
$313.99
-13.25%
|
10/6/2020
|
$287.71
|
PP = $298.86
|
|
MB = $313.80
|
Most Recent Note - 12/2/2020 12:49:55 PM
G - Rebounded from the early low after gapping down today, slumping back below its 50 DMA line ($282.64) and nearly testing the prior low ($253.42 on 11/10/20). Reported Oct '20 quarterly earnings +30% on +34% sales revenues versus the year ago period. Volume and volatility often increase near earnings news. 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
|
$74.27
|
+1.07
1.46% |
$74.36
|
294,672
86.16% of 50 DAV
50 DAV is 342,000
|
$79.38
-6.44%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 12/2/2020 5:57:14 PM
Y - Managed a "positive reversal" today after slumping below its pivot point. Gain on 11/30/20 was backed by +74% above average volume as it rallied and closed above the pivot point triggering a 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
|
$227.99
|
+3.93
1.75% |
$228.28
|
1,436,400
76.16% of 50 DAV
50 DAV is 1,886,000
|
$228.97
-0.43%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 12/2/2020 6:01:07 PM
G - Posted a gain with below average volume today for a new best-ever close. 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.
>>> 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
|
$62.81
|
+0.34
0.54% |
$63.68
|
575,706
47.70% of 50 DAV
50 DAV is 1,207,000
|
$64.37
-2.42%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 12/2/2020 5:53:15 PM
G - Volume totals have been cooling while stubbornly holding its ground near its all-time high. Prior highs in the $55-54 area define initial support to watch above its 50 DMA line ($53.25). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooloing While Stubbornly Holding Ground at High - 12/2/2020 |
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C
A
S
I |
BJ
-
NYSE
B J S Whlsl Club Hldgs
Retail-DiscountandVariety
|
$39.74
|
-0.66
-1.63% |
$40.11
|
2,078,354
92.25% of 50 DAV
50 DAV is 2,253,000
|
$47.46
-16.27%
|
11/19/2020
|
$42.97
|
PP = $47.56
|
|
MB = $49.94
|
Most Recent Note - 12/1/2020 6:26:54 PM
G - Pulled back and closed below its 50 DMA line ($40.88) with a loss today on lighter volume and its color code is changed to green. A prompt rebound above the 50 DMA line is needed for its outlook to improve. 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
|
$123.92
|
-1.34
-1.07% |
$124.50
|
287,321
52.34% of 50 DAV
50 DAV is 549,000
|
$130.41
-4.98%
|
11/6/2020
|
$122.75
|
PP = $113.00
|
|
MB = $118.65
|
Most Recent Note - 12/2/2020 5:55:11 PM
G - Perched near its all time high with volume totals cooling. Wedged 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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A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$113.83
|
+0.51
0.45% |
$115.94
|
454,604
116.86% of 50 DAV
50 DAV is 389,000
|
$116.95
-2.67%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 12/1/2020 6:30:02 PM
G - Pulled back today with higher volume yet found support and ended near the session high. 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 |
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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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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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