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AFTER MARKET UPDATE - FRIDAY, DECEMBER 7TH, 2018
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DOW |
-558.72 |
24,388.95 |
-2.24% |
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Volume |
1,035,436,970 |
-19% |
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Volume |
2,468,040,790 |
-12% |
NASDAQ |
-219.01 |
6,969.25 |
-3.05% |
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Advancers |
932 |
31% |
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Advancers |
843 |
27% |
S&P 500 |
-62.87 |
2,633.08 |
-2.33% |
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Decliners |
2,043 |
69% |
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Decliners |
2,224 |
72% |
Russell 2000 |
-29.32 |
1,448.09 |
-1.98% |
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52 Wk Highs |
38 |
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52 Wk Highs |
18 |
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S&P 600 |
-17.17 |
905.26 |
-1.86% |
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52 Wk Lows |
259 |
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52 Wk Lows |
270 |
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Uglier Action for Major Indices as Correction Deepens
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 experienced its worst week since March, falling 4.6%. The Dow posted a 4.5% decline, while the Nasdaq tumbled 4.9%. Stocks ended firmly lower Friday. The Dow lost 558 points to 24388 while the S&P 500 fell 62 points to 2633. The Nasdaq Composite slipped 219 points to 6969. The volume totals on the session were lighter than the prior session totals on the NYSE and on the Nasdaq exchange, indicative of less distributional pressure. Breadth was negative as decliners led advancers by a 2-1 margin on the NYSE and 11-4 on the Nasdaq exchange. There were 6 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus 7 on the prior session. New 52-week lows totals solidly outnumbered new 52-week highs totals on the NYSE and on the Nasdaq exchange. The major indices (M criteria) are in a correction again as damaging losses violated the recent Day 1 lows. New buying efforts are not justified under the fact-based investment system's rules until a new confirmed rally is noted. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Strict buying and selling rules should always be followed on a case by case basis. Charts used courtesy of www.stockcharts.com
PICTURED: The Nasdaq Composite Index's brief new rally ended quickly as losses undercut the Day 1 low. Recent rallies met fierce resistance near its 200-day and its 50-day moving average lines while it has formed a bearish series of lower highs followed by new lows.
The major averages retreated as lingering trade concerns overshadowed the jobs data. Technology stocks took the brunt of the decline after members of the Trump administration said additional tariffs could be imposed after the 90-day trade negotiation. The Labor Department’s jobs report eased worries of accelerated Fed rate hikes after showing the U.S. economy added 155,000 jobs in November, below expectations of 198,000. Additionally, the unemployment rate remained at a 50-year low of 3.7%, while average hourly earnings ticked up 3.1% year-over-year, matching the October report and the best wage growth since 2009.
Ten of 11 S&P 500 sectors finished in negative territory. Technology shares fell the most with NVIDIA (NVDA -6.75%) and Apple (AAPL -3.57%) fell after an analyst cut its iPhone sales estimates. Industrials also lagged amid heightened trade concerns with Caterpillar (CAT -3.75%) sank.
Treasuries and gold strengthened amid a perceived “flight to safety.” The yield on the benchmark 10-year note declined three basis points to 2.85% while gold gained 0.7% to $1246.80/ounce. Elsewhere, WTI crude added 1.8% to $52.43/barrel after OPEC and its allies agreed to production cuts.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Gold & Silver Index Rose Amid Widespread Group Weakness
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX -3.31%) outpaced the Broker/Dealer Index ($XBD -2.30%) and the Bank Index ($BKX -2.02%) as large losses weighed on the major indices. The tech sector had a negative bias as the Semiconductor Index ($SOX -3.74%), Biotech Index ($BTK -3.57%), and the Networking Index ($NWX -2.60%) suffered unanimous losses. Energy-linked groups also fell as the Oil Services Index ($OSX -0.79%) and Integrated Oil Index ($XOI -0.75%) both sank, meanwhile the Gold & Silver Index ($XAU +2.40%) was a standout gainer.
Charts courtesy of www.stockcharts.com
PICTURED: The Integrated Oil Index ($XOI -0.75%) has slumped near its Feb 2018 low..
Oil Services |
$OSX |
97.91 |
-0.78 |
-0.79% |
-34.53% |
Integrated Oil |
$XOI |
1,271.63 |
-9.62 |
-0.75% |
-4.79% |
Semiconductor |
$SOX |
1,157.86 |
-44.97 |
-3.74% |
-7.60% |
Networking |
$NWX |
498.82 |
-13.31 |
-2.60% |
+1.69% |
Broker/Dealer |
$XBD |
246.87 |
-5.82 |
-2.30% |
-6.93% |
Retail |
$RLX |
2,039.32 |
-69.81 |
-3.31% |
+17.62% |
Gold & Silver |
$XAU |
67.94 |
+1.59 |
+2.40% |
-20.32% |
Bank |
$BKX |
93.26 |
-1.93 |
-2.03% |
-12.60% |
Biotech |
$BTK |
4,467.97 |
-165.37 |
-3.57% |
+5.82% |
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Recently Found Support Near 200-Day Average
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Green Dot Corp Cl A (GDOT +$0.04 or +0.05% to $79.00) held its ground today. It is still sputtering below its 50-day moving average (DMA) line. Its 200 DMA line and prior low ($71.50 on 10/29/18) define important near-term support. Disciplined investors always limit losses by selling any stock that falls more than -7% from your purchase price.
It was last shown in the FSU section on 11/08/18 with an annotated graph under the headline, "Volume Heavy Behind Rally to New High". It finished strong after highlighted in yellow with pivot point cited based on its 9/14/18 high plus 10 cents in the earlier mid-day report (read here). The big gain with volume +213% above average and close above the pivot point clinched a technical buy signal.
It reported earnings +74% on +14% sales revenues for the Sep '18 quarter versus the year ago period. Quarterly comparisons have shown strong earnings increases above the +25% minimum guideline (C criteria) with strong sales revenues growth. Its small supply of only 52.6 million outstanding shares (S criteria) can contribute to greater price volatility in the event of institutional buying or selling. Annual earnings (A criteria) history has been strong after a small downturn in FY '15.
The number of top-rated funds owning its shares rose from 455 in Dec '17 to 522 in Sep '18, a reassuring sign concerning the I criteria. It has earned an A Timeliness rating and a B Sponsorship Rating. The current Up/Down Volume ration of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days.
Charts courtesy of www.stockcharts.com
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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 |
MLR
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NYSE
Miller Industries Inc
AUTOMOTIVE - Auto Parts
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$27.24
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-0.36
-1.30% |
$28.28
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45,770 169.52% of 50 DAV
50 DAV is 27,000
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$29.40 -7.35%
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11/30/2018
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$28.35
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PP = $29.50
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MB = $30.98
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Most Recent Note - 12/6/2018 12:27:48 PM
Y - Quietly consolidating within striking distance of its 52-week high. Highlighted in yellow with pivot point cited based on its 8/10/18 high plus 10 cents in the 11/30/18 mid-day report. Faces little resistance due to overhead supply up to the $29 level. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a technical buy signal. Reported earnings +95% on +28% sales revenues for the Sep '18 quarter. Recent quarterly comparisons have been above the +25% minimum earnings guideline (C criteria) and, sequentially, showed encouraging sales revenues acceleration. Annual earnings history (A criteria) has also been good. Very small supply of only 11.4 million shares outstanding (A criteria) can contribute to greater price volatility in the event of institutional buying or selling. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of All Time High - 12/3/2018 |
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C
A
S
I |
MPX
-
NYSE
Marine Products Corp
AUTOMOTIVE - Recreational Vehicles
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$21.84
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+0.00
0.00% |
$22.19
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48,886 116.40% of 50 DAV
50 DAV is 42,000
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$24.82 -12.01%
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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 - 12/6/2018 12:29:05 PM
G - Hovering near its 50 DMA line ($22.08) and above the recent low ($20.25 on 10/26/18) previously noted as important near-term support. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of Pivot Point - 11/13/2018 |
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C
A
S
I |
ZBRA
-
NASDAQ
Zebra Tech Corp Cl A
COMPUTER HARDWARE - Computer Peripherals
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$165.34
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-7.24
-4.20% |
$177.07
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394,081 83.14% of 50 DAV
50 DAV is 474,000
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$184.75 -10.51%
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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 - 12/7/2018 5:14:16 PM
G - Sank below its 50 DMA line ($169) again raising concerns and its color code is changed to green. The prior lows and 200 DMA line ($155) define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Challenging High After Rebound Above 50-day Average - 11/28/2018 |
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C
A
S
I |
CME
-
NASDAQ
C M E Group Inc
DIVERSIFIED SERVICES - Business/Management Services
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$187.11
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-1.21
-0.64% |
$191.39
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1,809,599 83.78% of 50 DAV
50 DAV is 2,160,000
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$197.08 -5.06%
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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 - 12/4/2018 5:26:01 PM
G - Enduring distributional pressure in recent weeks yet still remaining near its all-time high. Its 50 DMA line ($183.27) defines near-term support. Strength continued after reporting earnings +22% on +2% sales revenues for the Sep '18 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Extended From Base After More Gain With Above Average Volume - 11/15/2018 |
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C
A
S
I |
GDOT
-
NYSE
Green Dot Corp Cl A
FINANCIAL SERVICES - Credit Services
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$79.00
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+0.04
0.05% |
$80.07
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796,527 166.99% of 50 DAV
50 DAV is 477,000
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$93.00 -15.05%
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11/8/2018
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$90.35
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PP = $91.61
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MB = $96.19
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Most Recent Note - 12/7/2018 5:12:21 PM
G - Still below its 50 DMA line. Its 200 DMA line and prior low ($71.50 on 10/29/18) define important near-term support. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Recently Found Support Near 200-Day Average - 12/7/2018 |
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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 |
ULTA
-
NASDAQ
Ulta Beauty Inc
SPECIALTY RETAIL - Specialty Retail, Other
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$254.47
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-38.45
-13.13% |
$276.11
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4,213,823 424.35% of 50 DAV
50 DAV is 993,000
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$322.49 -21.09%
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11/8/2018
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$296.36
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PP = $290.40
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MB = $304.92
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Most Recent Note - 12/7/2018 12:59:27 PM
G - Reported earnings +30% on +16% sales revenues for the Oct '18 quarter. Gapped down today violating its 50 DMA line with a damaging volume-driven loss triggering a technical sell signal and its color code is changed to green. Members were previously reminded - "Volume and volatility often increase near earnings news."
>>> FEATURED STOCK ARTICLE : Volume Driven Gains Indicate Institutional Buying Demand - 11/9/2018 |
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C
A
S
I |
UBNT
-
NASDAQ
Ubiquiti Networks
TELECOMMUNICATIONS - Diversified Communication Serv
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$106.48
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-4.16
-3.76% |
$111.30
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221,834 46.31% of 50 DAV
50 DAV is 479,000
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$114.89 -7.32%
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11/9/2018
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$108.20
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PP = $101.43
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MB = $106.50
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Most Recent Note - 12/7/2018 5:17:47 PM
G - Retreated from its all-time high with recent losses on lighter volume. Prior high ($101.33 on 9/25/18) defines initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Pullback Following Breakout Gain on After Latest Earnings Report - 11/12/2018 |
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C
A
S
I |
PRAH
-
NASDAQ
P R A Health Sciences
HEALTH SERVICES - Medical Laboratories and Researc
|
$103.07
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-3.27
-3.08% |
$106.33
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389,309 74.87% of 50 DAV
50 DAV is 520,000
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$121.98 -15.50%
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11/30/2018
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$117.06
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PP = $112.98
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MB = $118.63
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Most Recent Note - 12/7/2018 5:20:19 PM
G - Color code is changed to green after a 4th consecutive loss undercut its 50 DMA line ($103.25). Undercut its pivot point after a noted "negative reversal".
>>> FEATURED STOCK ARTICLE : Streak of Gains For New Highs Marked by Increasing Volume - 11/30/2018 |
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C
A
S
I |
HQY
-
NASDAQ
Healthequity Inc
COMPUTER SOFTWARE and SERVICES - Healthcare Information Service
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$68.38
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-5.65
-7.63% |
$76.34
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2,328,758 319.01% of 50 DAV
50 DAV is 730,000
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$101.58 -32.68%
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11/2/2018
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$95.56
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PP = $100.09
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MB = $105.09
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Most Recent Note - 12/7/2018 1:04:09 PM
Slumping further below its 200 DMA line and prior lows with today's 3rd consecutive volume-driven loss raising more serious concerns. It will be dropped from the Featured Stocks list tonight. Reported earnings +65% on +24% sales revenues for the Oct '18 quarter. A rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : Found Support at 200-Day Average But Faces Overhead Supply - 11/26/2018 |
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C
A
S
I |
OLLI
-
NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety
|
$69.13
|
-2.77
-3.85% |
$74.87
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2,515,940 323.80% of 50 DAV
50 DAV is 777,000
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$97.61 -29.18%
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11/16/2018
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$90.70
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PP = $97.71
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MB = $102.60
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Most Recent Note - 12/7/2018 1:07:52 PM
Slumping further below its 200 DMA line with today's 3rd consecutive volume-driven loss. It will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line is needed for its outlook improve. Fundamentals remain strong after it recently reported earnings +45% on +19% sales revenues for the Oct '18 quarter.
>>> FEATURED STOCK ARTICLE : Consolidating Near 50-Day Average Forming New Base - 11/16/2018 |
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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 |
PLNT
-
NYSE
Planet Fitness Inc Cl A
Leisure-Services
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$53.46
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-2.77
-4.93% |
$56.32
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1,208,063 93.58% of 50 DAV
50 DAV is 1,291,000
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$58.50 -8.62%
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11/7/2018
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$57.10
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PP = $55.45
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MB = $58.22
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Most Recent Note - 12/7/2018 1:10:10 PM
Y - Pulling back further today following a "negative reversal" on 12/04/18 after it touched a new all-time high. Its 50 DMA line and recent low ($48.02 on 11/20/18) define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Fitness Firm Perched Near All-Time High - 11/29/2018 |
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C
A
S
I |
MEDP
-
NASDAQ
Medpace Holdings Inc
Medical-Research Eqp/Svc
|
$57.71
|
-1.96
-3.28% |
$60.05
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592,366 105.59% of 50 DAV
50 DAV is 561,000
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$65.09 -11.34%
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12/3/2018
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$63.43
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PP = $65.19
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MB = $68.45
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Most Recent Note - 12/7/2018 5:15:59 PM
Y - Pulled back today for a 3rd consecutive loss since highlighted in yellow with pivot point cited based on its 9/17/18 high plus 10 cents in the 12/03/18 mid-day report. Subsequent gains above the pivot point backed by a least +40% above average volume may trigger a technical buy signal. Reported earnings +68% on +62% sales revenues for the Sep '18 quarter marking the 3rd consecutive comparison above the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Pullback After 9 Straight Gains Challenged High - 12/4/2018 |
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C
A
S
I |
INVA
-
NASDAQ
Innoviva Inc
Medical-Biomed/Biotech
|
$17.64
|
-0.22
-1.23% |
$18.11
|
825,355 70.54% of 50 DAV
50 DAV is 1,170,000
|
$18.60 -5.16%
|
11/23/2018
|
$17.74
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PP = $18.09
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MB = $18.99
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Most Recent Note - 12/4/2018 5:29:54 PM
Y - Churning above average volume the past 2 sessions while perched near its all-time high, encountering distributional pressure. Subsequent gains and a strong close above the pivot point backed by at least +40% above average volume may clinch a technical buy signal.
>>> FEATURED STOCK ARTICLE : Bullish Action in Biotech Firm With Strong Earnings History - 11/23/2018 |
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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,
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