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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 23RD, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
+114.32 |
30,129.83 |
+0.38% |
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Volume |
812,666,631 |
-11% |
|
Volume |
7,021,062,400 |
+25% |
|
NASDAQ |
-36.80 |
12,771.11 |
-0.29% |
|
Advancers |
2,116 |
68% |
|
Advancers |
2,354 |
63% |
|
S&P 500 |
+2.75 |
3,690.01 |
+0.07% |
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Decliners |
994 |
32% |
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Decliners |
1,368 |
37% |
|
Russell 2000 |
+17.22 |
2,007.10 |
+0.87% |
|
52 Wk Highs |
280 |
|
|
52 Wk Highs |
432 |
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S&P 600 |
+12.29 |
1,121.74 |
+1.11% |
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52 Wk Lows |
4 |
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52 Wk Lows |
8 |
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Breadth Positive and Leadership Expanded While Indices Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow advanced 114 points, while the Nasdaq Composite slipped 0.3% from Tuesday's record closing level. The S&P 500 gained 0.1%, snapping a three day losing streak. Wednesday's volume totals were mixed, lighter than the prior session on the NYSE and higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 2-1 margin on the NYSE and by a 12-7 margin on the Nasdaq exchange. There were 80 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 74 on the prior session. New 52-week highs totals expanded and solidly outnumbered shrinking new 52-week lows. The major indices are in a confirmed uptrend (M criteria). 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 Dow Jones Industrial Average is hovering near its record high.
Stocks finished mixed on Wednesday, as investors assessed economic data and monitored fiscal stimulus updates. Equity markets also weighed President Trump's suggestion that he may veto the fifth coronavirus relief measure passed by Congress earlier this week, as he urged lawmakers to increase direct payments to Americans.
On the data front, initial jobless claims fell to 803,000 in the week ending Dec. 19 from the previous week's upwardly revised 892,000 tally. Another report showed personal income and spending each slipped more than anticipated in November. Elsewhere, the FHFA House Price Index climbed 1.5% in October, nearly doubling consensus estimates, while new home sales slumped 11% in November. Rounding out the docket, the final reading of the University of Michigan consumer sentiment slipped to 80.7 from the initial 81.4 reading. Treasuries declined, with the yield on the 10-year note climbing two basis points to 0.94%. in FOREX trading, the British pound rallied nearly 1% against the U.S. dollar following reports the EU and U.K. outlined an agreement for a post-Brexit trade deal.
Eight of 11 S&P 500 sectors ended in positive territory, with Real Estate, Technology and Utilities bucking the uptrend. Energy stocks led advancers, as WTI crude added 2.2% to $48.07/barrel. Financials also outperformed amid an uptick in Treasury yields. In corporate news, Pfizer (PFE +1.91%) rose on news that the U.S. government will purchase another 100 million doses of its Covid-19 vaccine. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups and Financials Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Oil Services Index ($OSX +3.39%) and Integrated Oil Index ($XOI +3.28%) posted standout gains and the Gold & Silver Index ($XAU +1.76%) also rose. The Bank Index ($BKX +2.89%) and Broker/Dealer Index ($XBD +0.94%) both had a positive influence on the major indices while the Retail Index ($RLX -0.32%) edged lower. The Biotech Index ($BTK +0.26%) eked out a small gain while the Semiconductor Index ($SOX -0.74%) and the Networking Index ($NWX -0.59%) both edged lower.
PICTURED: The Biotech Index ($BTK +0.26%) is trading above its 50-day and 200-day moving average (DMA) lines approaching its July high.
| Oil Services |
$OSX |
44.81 |
+1.47 |
+3.39% |
-42.77% |
| Integrated Oil |
$XOI |
798.23 |
+25.34 |
+3.28% |
-37.17% |
| Semiconductor |
$SOX |
2,723.53 |
-20.44 |
-0.74% |
+47.25% |
| Networking |
$NWX |
713.99 |
-4.22 |
-0.59% |
+22.38% |
| Broker/Dealer |
$XBD |
376.75 |
+3.51 |
+0.94% |
+29.74% |
| Retail |
$RLX |
3,518.49 |
-11.43 |
-0.32% |
+43.65% |
| Gold & Silver |
$XAU |
143.01 |
+2.48 |
+1.76% |
+33.75% |
| Bank |
$BKX |
96.83 |
+2.72 |
+2.89% |
-14.58% |
| Biotech |
$BTK |
5,955.84 |
+15.41 |
+0.26% |
+17.53% |
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New All-Time High With Today's 5th Consecutive Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Axon Enterprise Inc's (AAXN +$3.33 or +2.59% to $131.83) hit a new all-time high with average volume behind today's 5th consecutive gain. Its color code was recently changed to yellow after a 4-week square box base pattern was noted. Members were reminded - "A solid gain and close above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal." Its 50-day moving average (DMA) line ($117) defines near term support to watch on pullbacks.
Bullish action has followed after AAXN reported Sep '20 quarterly earnings +43% on +27% sales revenues versus the year ago period. AAXN was last shown in this FSU section on 12/03/20 with an annotated graph under the headline, "Volume Totals Cooling While Hovering Near All-Time High". It was highlighted in yellow in the 11/06/20 mid-day report (read here) while hitting a new all-time high with a "breakaway gap" and volume-driven gain triggering a technical buy signal.
AAXN completed a new Pubic Offering on 6/17/20. Such offerings often hinder price progress temporarily, yet they help companies attract greater institutional ownership interest (I criteria). The company has a small supply of only 63.5 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 400 in Sep '19 to 572 in Sep '20, a reassuring sign concerning the I criteria. AAXN has a Timeliness Rating of B and an Accumulation/Distribution Rating of B+. The Security/Safety industry group currently has a Group Relative Strength Rating of C- (43).
The Jun '20 quarterly comparison was a one cent per share loss versus 14 cent per share gain on +26% sales revenues, a noted blemish on its otherwise strong record. The Sep, Dec '19 and Mar '20 quarterly comparisons versus the year ago periods showed earnings increases above the +25% minimum guideline (C criteria) with strong underlying sales revenues increases. Its annual earnings (A criteria) history has also been strong, helping it get a 86 Earnings Per Share Rating. |
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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
|
$251.80
|
-0.82
-0.32% |
$254.25
|
275,339
85.51% of 50 DAV
50 DAV is 322,000
|
$257.88
-2.36%
|
12/17/2020
|
$247.06
|
PP = $257.98
|
|
MB = $270.88
|
Most Recent Note - 12/22/2020 5:14:13 PM
Y - Posted a 4th consecutive gain today with light volume for a best ever close. Color code was changed to yellow with new pivot point cited based on its 11/09/20 high plus 10 cents. Subsequent gains above its pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($237) has been acting as support. 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 : CRL Consolidating Above 50-Day Moving Average Line - 12/14/2020 |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
|
$91.55
|
-1.61
-1.73% |
$93.13
|
25,893,769
55.06% of 50 DAV
50 DAV is 47,025,000
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$97.98
-6.56%
|
11/18/2020
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$82.54
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PP = $88.72
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MB = $93.16
|
Most Recent Note - 12/21/2020 5:37:53 PM
G - Pulled back from its all-time high, slumping near its "max buy" level with average volume behind today's 4th consecutive loss. Its 50 DMA line ($85.73) defines important near term support to watch on pullbacks. See the latest FSU anaylsys for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back From its Record High Hit Last Week - 12/21/2020 |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
|
$117.26
|
-1.31
-1.10% |
$119.29
|
926,669
59.48% of 50 DAV
50 DAV is 1,558,000
|
$122.37
-4.18%
|
10/21/2020
|
$92.22
|
PP = $93.54
|
|
MB = $98.22
|
Most Recent Note - 12/21/2020 5:40:45 PM
G - Perched near its all-time high, stubbornly holding its ground. Support to watch on pullbacks is its 50 DMA line ($102.70).
>>> FEATURED STOCK ARTICLE : Stubbornly Holding Ground and Rising for a New High - 12/7/2020 |
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C
A
S
I |
AMRC
-
NYSE
Ameresco Inc Cl A
ENERGY - Alternative
|
$51.76
|
-1.46
-2.74% |
$54.79
|
439,905
117.31% of 50 DAV
50 DAV is 375,000
|
$54.05
-4.24%
|
12/15/2020
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$46.72
|
PP = $47.10
|
|
MB = $49.46
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Most Recent Note - 12/22/2020 3:19:04 PM
G - Color code is changed to green after rallying above its "max buy" level and hitting new all-time highs with today's 4th consecutive gain. Prior highs in the $46-47 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gain From Ascending Base Pattern Backed by Above Average Volume - 12/15/2020 |
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C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
|
$85.82
|
-0.21
-0.24% |
$86.75
|
476,006
61.66% of 50 DAV
50 DAV is 772,000
|
$86.48
-0.76%
|
6/26/2020
|
$54.53
|
PP = $66.47
|
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MB = $69.79
|
Most Recent Note - 12/22/2020 5:07:10 PM
G - Hit yet another new 52-week high with light volume behind today's 4th gain. Its 50 DMA line ($75.63) defines near-term support. 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 : Hit New High With Light Volume Behind 4th Consecutive Gain - 12/22/2020 |
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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 |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
|
$25.29
|
+0.14
0.56% |
$25.55
|
44,054
43.19% of 50 DAV
50 DAV is 102,000
|
$28.32
-10.70%
|
11/17/2020
|
$22.06
|
PP = $26.07
|
|
MB = $27.37
|
Most Recent Note - 12/22/2020 5:12:49 PM
Y - Sputtering below the pivot point after churning higher volume last week without making meaningful price progress. Near term support is defined by its 50 DMA line ($23.36) and an upward trendline.
>>> FEATURED STOCK ARTICLE : Perched Near Pivot Point in Need of Confirming Gain on Volume - 12/10/2020 |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$550.06
|
-11.66
-2.08% |
$565.00
|
883,379
65.10% of 50 DAV
50 DAV is 1,357,000
|
$566.74
-2.94%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 12/22/2020 5:10:29 PM
G - Posted a gain today with light volume for its second best ever close. Found prompt support near its 50 DMA line and stubbornly held its ground in recent weeks. 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 : Hit New Record High With Light Volume Behind Gain - 12/17/2020 |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
|
$100.93
|
+0.63
0.63% |
$102.94
|
661,649
170.97% of 50 DAV
50 DAV is 387,000
|
$100.51
0.42%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 12/22/2020 5:08:50 PM
G - Powered to yet another new all-time high with today's 7th consecutive gain, getting very extended from any sound base. Prior high ($74.66 on 7/23/20) defines initial support to watch above its 50 DMA line ($71).
>>> FEATURED STOCK ARTICLE : Alarm Hits a New Record High - 12/4/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$240.88
|
-6.13
-2.48% |
$247.85
|
1,468,653
73.65% of 50 DAV
50 DAV is 1,994,000
|
$250.03
-3.66%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 12/22/2020 5:15:48 PM
G - Volume totals cooled while stubbornly holding its ground perched at its 52-week high. Showed resilience and strength after earnings rose +7% on +26% sales revenues for the Sep '20 quarter versus the year ago period, below the +25% minimum earnings guideline (C criteria), raising concerns.
>>> FEATURED STOCK ARTICLE : Extended From Any Base After Streak of Gains for New Highs - 12/18/2020 |
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C
A
S
I |
SHOP
-
NYSE
Shopify Inc Cl A
Computer Sftwr-Enterprse
|
$1,197.96
|
-79.12
-6.20% |
$1,276.22
|
2,118,972
141.55% of 50 DAV
50 DAV is 1,497,000
|
$1,285.19
-6.79%
|
12/16/2020
|
$1,146.00
|
PP = $1,147.01
|
|
MB = $1,204.36
|
Most Recent Note - 12/23/2020 1:06:49 PM
G - Pulling back today after rallying above its "max buy" level for new all-time highs with volume-driven gains. Its 50 DMA line ($1,035) defines near-term support to watch above its 200 DMA line ($870). Reported Sep '20 quarterly earnings of $1.13 per share versus a loss of 29 cents per share on +96% sales revenues versus the year ago period. The Ontario, Canada-based Computer Software - Enterprise firm's prior quarters showed big earnings and sales revenues growth. After years of losses it had strong earnings growth in FY '17-19 (A criteria).
>>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New High After Long Consolidation - 12/16/2020 |
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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
|
$72.89
|
-1.43
-1.92% |
$74.73
|
480,120
39.07% of 50 DAV
50 DAV is 1,229,000
|
$74.82
-2.58%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 12/22/2020 3:21:33 PM
G - Quietly wedging to new all-time highs with recent gains lacking great volume conviction. Its 50 DMA line ($59.54) defines initial support to watch above prior highs in the $55-54 area.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooloing While Stubbornly Holding Ground at High - 12/2/2020 |
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C
A
S
I |
AAXN
-
NASDAQ
Axon Enterprise Inc
Security/Sfty
|
$131.83
|
+3.33
2.59% |
$134.73
|
559,060
100.55% of 50 DAV
50 DAV is 556,000
|
$131.63
0.15%
|
12/22/2020
|
$127.84
|
PP = $130.51
|
|
MB = $137.04
|
Most Recent Note - 12/23/2020 6:02:46 PM
Y - Hit a new all-time high with average volume behind today's 4th consecutive gain. Color code was changed to yellow after a 4-week square box base pattern as it was noted - "A solid gain and close above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal. Its 50 DMA line ($116.42) defines near term support to watch on pullbacks. Recently reported Sep '20 quarterly earnings +43% on +27% sales revenues versus the year ago period." See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : New All-Time High With Today's 5th Consecutive Gain - 12/23/2020 |
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C
A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$128.59
|
-0.40
-0.31% |
$130.59
|
303,308
72.39% of 50 DAV
50 DAV is 419,000
|
$129.40
-0.63%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 12/22/2020 3:23:05 PM
G - Posting a 4th consecutive gain today hitting another new all-time high. Prior high in the $106 area and its 50 DMA line ($107.20) define important near term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Computer Software - Financial Firm Hovering Near Record High - 12/8/2020 |
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C
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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You may opt-out of receiving report notifications
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