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 MIDDAY BREAKOUTS REPORT - TUESDAY, MARCH 19TH, 2024
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DOW 39002.94 212.51 (0.55%) | NASDAQ 16052.18 -51.27 (-0.32%) | S&P 500 5150.74 1.32 (0.03%)
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Time of Screening :
3/19/2024 12:06:17 PM Report Released :
3/19/2024 12:27:40 PM
Price is:
Above 52W High and Less Than 52W High
but within 15% of the 52 Week High
Volume Is:
At least 50% of 50 Day Average at
the time of the screening.
More details about this report...
At around
mid-way through each trading day we run
a screen against our database of
high-ranked stocks, searching for
possible buy candidates that are trading
at or near their 52-week high on above
average volume. The results of that
screen are split into the two sections
you see below. The first, titled
"TODAY's FEATURED STOCKS" shows stocks
that our experts have recently
identified as among the strongest candidates to
consider. Stocks highlighted in yellow
are the most timely and noteworthy, so
particular attention and prompt action
may be appropriate. The second section,
titled "TODAY's BREAKOUT SCREEN" shows
the remainder of stocks meeting today's
screen parameters. Our experts have
reviewed and included notes on these
stocks as well, but found that they may
not match up as favorably.
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Y - Today's strongest
candidates
highlighted
by our staff
of experts.
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G - Previously featured in
this report as yellow and
now may no longer be buyable
under the guidelines.
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Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(50 DAV) |
52 Wk Hi
% From Hi |
Date
Featured |
Price
Featured |
Pivot Point |
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Max Buy |
ANET
- NYSE
Arista Networks, Inc
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$275.97
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-13.35
-4.61%
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$284.35
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1,511,683
60.52% of 50 DAV
50 DAV is 2,498,000
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$292.66
-5.70%
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3/18/2024 |
$188.84
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PP = $292.76
MB = $307.40 |
Most Recent Note - 3/19/2024 12:08:07 PM
Y - Slumping toward its 50 DMA line after a gap down today, abruptly retreating following a solid volume-driven gain on the prior session for a best-ever close. Color code was changed to yellow after forming a new flat base. Found support at its 50 DMA line ($268.66) during its ongoing ascent. Recently noted with caution - "It may be considered a riskier late-stage base, however, a gain above the pivot point backed by at least +80% above average volume may trigger a new technical buy signal."
>>> The latest Featured Stock Update with an annotated graph appeared on 3/1/2024. Click here.
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Company Profile |
SEC |
News |
Chart | C
A N
S L
I M
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Symbol - Exchange - Industry Group
Company Name |
Last |
Chg |
Day
High |
52 WK Hi |
% From Hi |
Volume
% DAV |
DAV |
CLS
- NYSE - Elec-Contract Mfg
Celestica Inc
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$42.22 |
-2.48
-5.54%
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$43.78
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$49.36
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-14.48% |
1,346,932
57.34%
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2,349,000
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Most Recent Note for CLS - 3/19/2024 12:10:35 PM
Gapped down again today following a noted "negative reversal" at its 52-week high and gap down. Patient investors may watch for a new base or secondary buy point to possibly develop and be noted in the weeks ahead. Rallied steadily after finding prompt support near its 50 DMA line in January. Reported earnings +36% on +5% sales revenues for the Dec '23 quarter versus the year ago period, and 6 of the last 7 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19.
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Company Profile |
SEC |
News |
Chart | C
A N
S L
I M
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CNM
- NYSE - Bldg-Constr Prds/Misc
Core & Main Inc Cl A
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$54.41 |
+3.72
7.33%
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$54.64
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$51.69
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5.25% |
2,773,467
87.41%
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3,173,000
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Most Recent Note for CNM - 3/19/2024 12:11:41 PM
Hitting a new 52-week high with today's big volume-driven gain, getting very extended from any sound base. Reported Jan '24 quarterly earnings +10% on +5% sales revenues versus the year-ago period, its 5th subpar quarter. Prior quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Limited history is a concern since its $20 IPO on 7/23/21.
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SEC |
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A N
S L
I M
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DB
- NYSE - BANKING - Money Center Banks
Deutsche Bk Ag Adr
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$14.89 |
+0.26
1.78%
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$15.04
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$15.02
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-0.87% |
2,022,120
61.41%
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3,293,000
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Most Recent Note for DB - 3/19/2024 12:14:57 PM
Held its ground stubbornly after hitting a new 52-week high on 3/12/24 with a "breakaway gap" and 9 consecutive gains backed by ever increasing volume. Noted in prior mid-day reports with caution - "Erratic quarterly and annual earnings history leaves fundamental concerns."
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SEC |
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A N
S L
I M
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EGY
- NYSE - ENERGY - Independent Oil & Gas
Vaalco Energy Inc
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$5.92 |
+0.15
2.60%
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$5.93
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$5.81
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1.89% |
522,924
61.96%
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844,000
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Most Recent Note for EGY - 3/19/2024 12:15:43 PM
Hitting new 52-week highs with today's gain adding to a noted streak of volume-driven gains. For the Dec '23 quarter it reported earnings +95% on +55% sales revenues versus the year ago period. Erratic quarterly and annual earnings (C and A criteria) history is a concern. Low priced stocks are riskier choices which the investment system guidelines say should be avoided unless all key criteria are soundly satisfied.
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SEC |
News |
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A N
S L
I M
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FONR
- NASDAQ - HEALTH SERVICES - Medical Appliances & Equipment
Fonar Corp
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$21.55 |
-0.06
-0.28%
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$21.90
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$24.05
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-10.40% |
16,003
84.23%
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19,000
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Most Recent Note for FONR - 3/19/2024 12:16:52 PM
Consolidating above prior highs and its 50 DMA line defining near-term support in the $20-21 area. Reported earnings +69% on +5% sales revenues for the Dec '23 quarter. Fundamental concerns remain. Prior quarterly earnings (C criteria) history and sales revenues growth is not a good match with the fact-based investment system's guidelines.
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SEC |
News |
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A N
S L
I M
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ITT
- NYSE - MANUFACTURING - Industrial Electrical Equipmen
I T T Corp
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$129.46 |
+2.98
2.36%
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$129.57
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$129.40
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0.05% |
183,603
53.69%
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342,000
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Most Recent Note for ITT - 3/19/2024 12:19:55 PM
Hitting a new 52-week high with today's big gain. Last noted with caution in the 2/08/24 mid-day report - "Reported earnings +4% on +7% sales revenues for the Dec '23 quarter versus the year-ago period. Fundamental concerns remain. Earnings increases in prior quarterly comparisons versus the year-ago periods have not been strong and steady above the minimum +25% guideline (C criteria). Annual earnings (A criteria) history has improved steadily after a downturn in FY '20."
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SEC |
News |
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A N
S L
I M
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NVDA
- NASDAQ - ELECTRONICS - Semiconductor - Specialized
Nvidia Corp
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$868.40 |
-16.15
-1.83%
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$877.76
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$974.00
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-10.84% |
28,537,404
51.72%
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55,178,000
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Most Recent Note for NVDA - 3/19/2024 12:21:18 PM
Following a noted "negative revrsal" on 3/08/24 at its all-time high it has been consolidating, extended from any sound base. Reported Jan '24 quarterly earnings +486% on +265% sales revenues versus the year ago period, its 3rd very strong quarter. Prior 3 quarterly comparisons were down from the year-ago periods. Annual earnings (A criteria) history has been up and down, noted as a flaw with regard to the fact-based investment system's guidelines. Completed the Mellanox Technologies (MLNX) acquisition on 4/27/20.
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A N
S L
I M
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PAGS
- NYSE - Finance-CrdtCard/PmtPr
Pagseguro Digital Cl A
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$13.65 |
-0.42
-2.99%
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$13.96
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$14.98
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-8.88% |
2,514,217
85.14%
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2,953,000
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Most Recent Note for PAGS - 3/19/2024 12:24:20 PM
Consolidating above its 50 DMA line ($13.19). Reported improved results for the Dec '23 quarter but fundamental concerns remain. Completed a Secondary Offering on 10/17/19. It went through a long and deep consolidation since dropped from the Featured Stocks list on 10/22/19 when last noted with caution.
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A N
S L
I M
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RYAN
- NYSE - INSURANCE - Insurance Brokers
Ryan Specialty Hlds Cl A
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$54.91 |
-0.42
-0.76%
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$55.70
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$56.00
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-1.95% |
364,318
52.27%
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697,000
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Most Recent Note for RYAN - 3/19/2024 12:26:38 PM
Perched at its all-time high following 6 consecutive weekly gains marked by volume. Reported Sep and Dec '23 quarterly earnings increases above the +25% minimum earnings guideline (C criteria). Prior quarterly results were subpar.
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A N
S L
I M
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VRT
- NYSE - Electrical-Power/Equipmt
Vertiv Holdings Llc
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$73.69 |
-3.45
-4.47%
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$75.70
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$79.66
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-7.49% |
4,392,745
59.19%
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7,422,000
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Most Recent Note for VRT - 3/19/2024 12:27:36 PM
Very extended from any sound base and pulling back today after hitting new all-time highs with 5 consecutive volume-driven gains. Showed very strong quarterly earnings increases through Dec '23 versus the year-ago periods. Limited history is a concern. Annual earnings history has been up and down.
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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.
We are 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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