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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 30TH, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
+73.89 |
30,409.56 |
+0.24% |
|
Volume |
691,055,272 |
-5% |
|
Volume |
5,241,454,600 |
+13% |
|
NASDAQ |
+19.78 |
12,870.00 |
+0.15% |
|
Advancers |
2,135 |
68% |
|
Advancers |
2,577 |
69% |
|
S&P 500 |
+5.00 |
3,732.04 |
+0.13% |
|
Decliners |
982 |
31% |
|
Decliners |
1,136 |
31% |
|
Russell 2000 |
+20.63 |
1,979.99 |
+1.05% |
|
52 Wk Highs |
133 |
|
|
52 Wk Highs |
223 |
|
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S&P 600 |
+10.66 |
1,118.01 |
+0.96% |
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52 Wk Lows |
2 |
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52 Wk Lows |
17 |
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Breadth Positive as Major Indices Continue to Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow notched at new record level, adding 73 points. The S&P 500 and Nasdaq Composite advanced 0.1% and 0.2%, respectively, with both benchmarks finishing just under their all-time highs reached on Monday. Meanwhile, the Russell 2000 index of small-cap stocks snapped a three day losing streak. The volume totals were mixed, lighter than the prior session volume total on the NYSE and higher on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 2-1 margin on the NYSE and on the Nasdaq exchange. There were 40 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 20 on the prior session. New 52-week highs totals expanded easily outnumbered the new 52-week lows totals on both exchanges. 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 Nasdaq Composite Index has been quietly hovering near its record high.
Stocks Stocks resumed a year-end rally on Wednesday, as lingering vaccine optimism overshadowed elevated rates of U.S. coronavirus infections and hospitalizations. Sentiment was lifted after British regulators became the first to approve AstraZeneca's (AZN +0.56%) COVID-19 vaccine, the third inoculation to gain their approval. Investors also kept tabs on fiscal stimulus updates, with a bill raising direct payments to $2000 awaiting a vote in the Senate.
Eight of 11 S&P 500 sectors finished in positive territory. Energy and Materials stocks outperformed with both groups rising more than 1%. The Communication Services and Technology groups were notable laggards, with the oft-cited FAANG group slipping 1%. In corporate news, French luxury goods group LVMH (LVMUY +0.29%) rose after Tiffany & Co (TIF +0.02%) shareholders overwhelmingly approved a long-disputed takeover bid. Elsewhere, Caterpillar (CAT +1.92%) rose after being the subject of positive analyst comments.
On the data front, a flash reading of November wholesale inventories unexpectedly ticked down 0.1%, after rising 1.1% the prior month. A separate release showed pending home sales fell 2.6% in November after declining 0.9% in October. Treasuries advanced, with the yield on the benchmark 10-year note holding off one basis point to 0.92%. In commodities, WTI crude rose 0.6% to $48.27/barrel. Gold rose 0.7% to $1,896.70/ounce as a gauge of the U.S. dollar weakened to a two-year low. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Commodity-Linked Groups Outpaced Semiconductor and Bank Indexes
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.75%) posted a modest gain while the Broker/Dealer Index ($XBD +0.04%) finished flat and the Retail Index ($RLX -0.57%) edged lower. The Semiconductor Index ($SOX +1.67%) led the tech sector while the Networking Index ($NWX +0.55%) edged higher and the Biotech Index ($BTK +0.15%) eked out a tiny gain. Commodity-linked groups had a positive bias as the Gold & Silver Index ($XAU +3.29%) outpaced the Oil Services Index ($OSX +1.90%) and the Integrated Oil Index ($XOI +1.77%).
PICTURED: The Gold & Silver Index ($XAU +3.29%) rallied impressively from the March low. In recent months it found support above its 200-day moving average (DMA) line and it is now consolidating above its 50 DMA line.
| Oil Services |
$OSX |
44.16 |
+0.82 |
+1.90% |
-43.60% |
| Integrated Oil |
$XOI |
802.33 |
+13.95 |
+1.77% |
-36.85% |
| Semiconductor |
$SOX |
2,783.77 |
+45.72 |
+1.67% |
+50.50% |
| Networking |
$NWX |
715.14 |
+3.88 |
+0.55% |
+22.58% |
| Broker/Dealer |
$XBD |
375.03 |
+0.14 |
+0.04% |
+29.15% |
| Retail |
$RLX |
3,578.38 |
-20.52 |
-0.57% |
+46.10% |
| Gold & Silver |
$XAU |
147.14 |
+4.68 |
+3.29% |
+37.62% |
| Bank |
$BKX |
96.82 |
+0.72 |
+0.75% |
-14.59% |
| Biotech |
$BTK |
5,777.69 |
+8.47 |
+0.15% |
+14.02% |
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Perched Near Record High Very Extended From Any Sound Base
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Teradyne Inc (TER +$3.09 or +2.64% to $120.29) is still perched near its all-time high, extended from any sound base and stubbornly holding its ground with volume totals cooling. Initial support to watch on pullbacks is its 50-day moving average (DMA) line ($106.47). Recently it 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.
TER has traded up as much as +32.7% since it was highlighted in yellow with pivot point cited based on its 8/14/20 high plus 10 cents in the 10/21/20 mid-day report (read here). It was last shown in this FSU section on 12/07/20 with an annotated graph under the headline, "Stubbornly Holding Ground and Rising for a New High".
The high-ranked ELECTRONICS - Semiconductor Equipment firm has 166.1 million shares outstanding (S criteria). The number of top-rated funds owning its shares rise from 1,149 in Dec '19 to 1,495 in Sep '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume ratio of 1.5 is an unbiased indication its shares have been under accumulation 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
|
$248.59
|
-0.05
-0.02% |
$253.13
|
197,717
63.99% of 50 DAV
50 DAV is 309,000
|
$257.88
-3.60%
|
12/17/2020
|
$247.06
|
PP = $257.98
|
|
MB = $270.88
|
Most Recent Note - 12/29/2020 5:06:36 PM
Y - Posted a small gain today with light volume. The pivot point cited is 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
|
$92.29
|
+1.67
1.84% |
$92.85
|
25,697,846
55.67% of 50 DAV
50 DAV is 46,159,000
|
$97.98
-5.81%
|
11/18/2020
|
$82.54
|
PP = $88.72
|
|
MB = $93.16
|
Most Recent Note - 12/28/2020 5:32:20 PM
Y - Color code is changed to yellow after recently pulling back below its "max buy" level. Its 50 DMA line ($86.36) defines important near term support to watch on pullbacks.
>>> 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
|
$120.29
|
+3.09
2.64% |
$120.72
|
782,872
51.03% of 50 DAV
50 DAV is 1,534,000
|
$122.37
-1.70%
|
10/21/2020
|
$92.22
|
PP = $93.54
|
|
MB = $98.22
|
Most Recent Note - 12/30/2020 5:36:57 PM
G - Still perched near its all-time high, stubbornly holding its ground with volume totals cooling. Support to watch on pullbacks is its 50 DMA line ($106.47). See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Near Record High Very Extended From Any Sound Base - 12/30/2020 |
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C
A
S
I |
AMRC
-
NYSE
Ameresco Inc Cl A
ENERGY - Alternative
|
$51.80
|
+0.96
1.89% |
$52.35
|
505,792
132.06% of 50 DAV
50 DAV is 383,000
|
$54.79
-5.46%
|
12/15/2020
|
$46.72
|
PP = $47.10
|
|
MB = $49.46
|
Most Recent Note - 12/29/2020 5:14:03 PM
G - Sputtered below its "max buy" level today but closed in the upper half of its intra-day range. 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
|
$83.79
|
+0.99
1.20% |
$85.28
|
433,439
57.03% of 50 DAV
50 DAV is 760,000
|
$87.88
-4.65%
|
6/26/2020
|
$54.53
|
PP = $66.47
|
|
MB = $69.79
|
Most Recent Note - 12/28/2020 5:25:53 PM
G - There was a "negative reversal" today after hitting yet another new 52-week high. Its 50 DMA line ($76) 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.
>>> 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
|
$24.56
|
+0.11
0.45% |
$24.95
|
33,671
33.01% of 50 DAV
50 DAV is 102,000
|
$28.32
-13.28%
|
11/17/2020
|
$22.06
|
PP = $26.07
|
|
MB = $27.37
|
Most Recent Note - 12/29/2020 3:41:59 PM
Y - Slumping further below the pivot point with today's big loss on below average volume. Near term support is defined by its 50 DMA line ($23.57) and an upward trendline. Churned higher volume in recent weeks without making meaningful price progress, action indicative of distributional pressure.
>>> 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
|
$547.38
|
+1.40
0.26% |
$552.00
|
573,882
42.70% of 50 DAV
50 DAV is 1,344,000
|
$566.74
-3.42%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 12/29/2020 5:08:13 PM
G - Volume totals have been cooling while still hovering near its all-time high. Found prompt support near its 50 DMA line ($522) 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 |
SMPL
-
NASDAQ
Simply Good Foods Co
Food-Confectionery
|
$30.37
|
+0.62
2.08% |
$30.61
|
1,128,936
82.28% of 50 DAV
50 DAV is 1,372,000
|
$30.75
-1.24%
|
12/28/2020
|
$30.40
|
PP = $31.44
|
|
MB = $33.01
|
Most Recent Note - 12/30/2020 5:38:56 PM
Y - Posted a gain today with light volume for a best-ever close. Color code was changed to yellow with pivot point cited based on its 9/09/19 high plus 10 cents. Subsequent gains above its pivot point backed by at least +40% above average volume may trigger a technical buy signal. Gapped up last week and rallied further on news it was added to the S&P 600 Small Cap Index. Completed a new Pubic Offering on 10/09/19. Reported earnings +33% on +60% sales revenues for the Aug '20 quarter versus the year ago period, its 3rd consecutive quarterly comparison above the +25% minimum earnings guideline (C criteria). Annual earnings history (A criteria) has been strong.
>>> FEATURED STOCK ARTICLE : Challenging All-Time High as it Joins Small Cap Index - 12/28/2020 |
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C
A
S
I |
ALRM
-
NASDAQ
Alarm.com Holdings Inc
Security/Sfty
|
$103.79
|
+3.56
3.55% |
$103.95
|
353,857
84.05% of 50 DAV
50 DAV is 421,000
|
$103.52
0.26%
|
11/6/2020
|
$71.88
|
PP = $74.76
|
|
MB = $78.50
|
Most Recent Note - 12/30/2020 5:41:57 PM
G - Posted a big gain today with lighter than average volume for a best-ever close, very extended from any sound base. Its 50 DMA line ($75.30) and prior high ($74.66 on 7/23/20) define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Perched at High After Impressive Streak of Gains - 12/24/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$234.04
|
+0.89
0.38% |
$236.84
|
559,595
30.09% of 50 DAV
50 DAV is 1,860,000
|
$250.03
-6.40%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 12/29/2020 5:12:44 PM
G - Extended from any sound base, consolidating above its prior high and 50 DMA line which define near-term support in the $115-116 area. 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 |
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 |
SHOP
-
NYSE
Shopify Inc Cl A
Computer Sftwr-Enterprse
|
$1,163.00
|
-8.61
-0.73% |
$1,180.61
|
787,923
51.33% of 50 DAV
50 DAV is 1,535,000
|
$1,285.19
-9.51%
|
12/16/2020
|
$1,146.00
|
PP = $1,147.01
|
|
MB = $1,204.36
|
Most Recent Note - 12/28/2020 12:41:22 PM
Y - Color code is changed to yellow after slumping below its "max buy" level with today's pullback. After spiking to new all-time highs with volume-driven gains, the prior highs in the $1,146-1,130 area define initial support to watch above its 50 DMA line ($1,039).. 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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A
S
I |
YETI
-
NYSE
Yeti Holdings Inc
Leisure-Products
|
$68.19
|
-0.58
-0.84% |
$70.16
|
461,389
38.16% of 50 DAV
50 DAV is 1,209,000
|
$74.82
-8.86%
|
11/5/2020
|
$57.25
|
PP = $55.14
|
|
MB = $57.90
|
Most Recent Note - 12/29/2020 5:04:21 PM
G - Slumped for a 2nd consecutive loss today after quietly wedging to new all-time highs with recent gains lacking great volume conviction. Its 50 DMA line ($61.03) defines initial support to watch above prior highs in the $55-54 area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back After Recently Wedging to New Highs - 12/29/2020 |
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C
A
S
I |
AAXN
-
NASDAQ
Axon Enterprise Inc
Security/Sfty
|
$123.88
|
+0.55
0.45% |
$126.46
|
384,021
71.12% of 50 DAV
50 DAV is 540,000
|
$134.73
-8.05%
|
12/22/2020
|
$127.84
|
PP = $130.51
|
|
MB = $137.04
|
Most Recent Note - 12/28/2020 5:28:41 PM
Y - Slumped for a big loss today with below average volume. 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."
>>> FEATURED STOCK ARTICLE : New All-Time High With Today's 5th Consecutive Gain - 12/23/2020 |
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A
S
I |
QTWO
-
NYSE
Q2 Holdings Inc
Computer Sftwr-Financial
|
$127.88
|
+2.31
1.84% |
$129.61
|
338,789
78.79% of 50 DAV
50 DAV is 430,000
|
$130.59
-2.08%
|
11/12/2020
|
$105.14
|
PP = $106.54
|
|
MB = $111.87
|
Most Recent Note - 12/29/2020 5:10:13 PM
G - Pulled back with lighter volume for a 4th consecutive small loss today, still hovering near its all-time high. Its 50 DMA line ($109.62) and prior high in the $106 area define important near term support to watch.
>>> FEATURED STOCK ARTICLE : Computer Software - Financial Firm Hovering Near Record High - 12/8/2020 |
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A
S
I |
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|
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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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