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 MIDDAY BREAKOUTS REPORT - TUESDAY, AUGUST 1ST, 2023
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DOW 35560.29 0.76 (0.00%) | NASDAQ 14281.61 -64.41 (-0.45%) | S&P 500 4572.82 -16.14 (-0.35%)
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Time of Screening :
8/1/2023 12:38:14 PM Report Released :
8/1/2023 1:10:34 PM
Price is:
Above 52W High and Less Than 52W High
but within 15% of the 52 Week High
Volume Is:
At least 90% 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 |
ALGM
- NASDAQ
Allegro Microsystems Inc
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$46.91
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-4.70
-9.11%
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$49.64
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2,381,283
162.32% of 50 DAV
50 DAV is 1,467,000
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$53.05
-11.57%
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7/13/2023 |
$49.86
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PP = $48.82
MB = $51.26 |
Most Recent Note - 8/1/2023 12:40:58 PM
G - Gapped down today undercutting the prior low with a big volume-driven loss raising concerns and its color code is changed to green. Reported Jun '23 quarterly earnings +63% versus the year-ago period. Volume and volatility often increase near earnings news. Disciplined investors always limit losses by selling any stock that falls more than -8% from their purchase price.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/13/2023. Click here.
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SEC |
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A N
S L
I M
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ANET
- NYSE
Arista Networks, Inc
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$188.84
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+33.75
21.76%
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$189.28
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8,736,463
251.48% of 50 DAV
50 DAV is 3,474,000
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$180.39
4.68%
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8/1/2023 |
$188.84
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PP = $178.46
MB = $187.38 |
Most Recent Note - 8/1/2023 12:45:50 PM
Y - Gapped up today and rallied for a new high with a considerable volume-driven gain. Color code is changed to yellow with new pivot point cited based on its 5/30/23 high plus 10 cents. Bullish action came after it reported Jun '23 quarterly earnings +40% on +39% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/12/2023. Click here.
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Company Profile |
SEC |
News |
Chart | C
A N
S L
I M
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STRL
- NASDAQ
Sterling Construction Co
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$62.55
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+2.56
4.27%
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$63.10
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411,346
125.03% of 50 DAV
50 DAV is 329,000
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$62.50
0.08%
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12/14/2022 |
$32.41
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PP = $33.72
MB = $35.41 |
Most Recent Note - 8/1/2023 1:02:46 PM
G - Posting a 6th consecutive gain today for a new all-time high. It is very extended from any sound base and its 50 DMA line ($54) defines near-term support to watch. Mar '23 quarterly earnings were below the +25% minimum guideline (C criteria) raising fundamental concerns.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/3/2023. Click here.
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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 |
BBVA
- NYSE - BANKING - Foreign Regional Banks
Banco Bilbao Viz Arg Adr
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$7.67 |
-0.27
-3.37%
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$7.76
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$8.14
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-5.74% |
1,324,055
129.94%
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1,019,000
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Most Recent Note for BBVA - 8/1/2023 12:46:14 PM
Perched near its 52-week high. Prior mid-day reports cautioned members - "Fundamental concerns remain for this Spanish banking firm."
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A N
S L
I M
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BUR
- NASDAQ - Food-Grain & Related
Burcon Nutrascience Corp
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$13.66 |
+0.18
1.34%
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$13.69
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$14.04
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-2.71% |
474,051
90.30%
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525,000
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Most Recent Note for BUR - 8/1/2023 12:47:17 PM
Rebounded above its 50 DMA line and it is perched within striking distance of its 52-week high. Noted with caution in prior mid-day reports - "Recent quarterly comparisons through Mar '23 showed strong sales revenues and earnings increases versus the year ago periods. Annual earnings history (A criteria) has not been strong and steady."
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SEC |
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A N
S L
I M
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BWMX
- NASDAQ - Hsehold-Appliances/Wares
Betterware de Mexico SAB
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$14.09 |
-0.09
-0.60%
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$15.15
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$14.98
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-5.97% |
72,767
316.38%
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23,000
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Most Recent Note for BWMX - 8/1/2023 12:48:48 PM
Reversed into the red after hitting another new 52-week high today following 2 consecutive gains. Reported Jun '23 quarterly earnings +5% on +17% sales revenues versus the year ago period and fundamental concerns remain.
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A N
S L
I M
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CAT
- NYSE - MANUFACTURING - Farm & Construction Machinery
Caterpillar Inc
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$286.90 |
+21.73
8.19%
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$287.29
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$281.46
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1.93% |
7,495,252
250.43%
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2,993,000
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Most Recent Note for CAT - 8/1/2023 12:51:12 PM
Goliath company in the Machinery - Construction/Mining industry gapped up today and hit a new all-time high with a considerable gain backed by great volume conviction. Reported Jun '23 quarterly earnings +75% versus the year ago period its 4th strong quarterly comparison. Fundamental concerns remain due to its up and down annual earnings (A criteria) history.
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SEC |
News |
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A N
S L
I M
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CLS
- NYSE - Elec-Contract Mfg
Celestica Inc
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$21.76 |
-0.22
-1.00%
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$22.68
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$22.68
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-4.06% |
1,533,765
141.23%
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1,086,000
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Most Recent Note for CLS - 8/1/2023 12:51:50 PM
Hit yet another new 52-week high today following 3 considerable volume-driven gains, extended from any sound base. Reported earnings +25% on +13% sales revenues for the Jun '23 quarter versus the year ago period, and 6 of the last 7 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19 following a multi-year downturn which raised concerns with regard to the fact-based investment system's strict guidelines.
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A N
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I M
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DV
- NYSE - Computer Sftwr-Spec Enterprs
DoubleVerify
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$36.70 |
-5.40
-12.83%
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$37.57
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$42.51
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-13.67% |
4,271,624
313.17%
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1,364,000
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Most Recent Note for DV - 8/1/2023 12:52:38 PM
Gapped down today violating its 50 DMA line. Reported Jun '23 quarterly earnings +17% on +22% sales revenues versus the year-ago period. Fundamental concerns remain as the prior quarterly comparisons were not strong and steady above the +25% minimum earnings guideline (C criteria). Limited history since its $27 IPO in April '21.
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A N
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I M
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ETN
- NYSE - MANUFACTURING - Diversified Machinery
Eaton Corp Plc
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$217.91 |
+12.59
6.13%
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$219.28
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$218.79
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-0.40% |
2,434,746
110.87%
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2,196,000
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Most Recent Note for ETN - 8/1/2023 12:53:23 PM
Gapped up today hitting a new all-time high. Made steady progress since it rebounded above its 50 DMA line when noted in the 5/02/23 mid-day report - "Through the Mar '23 quarter its subpar sales revenues and earnings growth history remain a concern, fundamentally."
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A N
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I M
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FLS
- NYSE - MANUFACTURING - Diversified Machinery
Flowserve Corp
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$37.49 |
-0.27
-0.72%
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$37.99
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$38.89
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-3.60% |
868,672
101.13%
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859,000
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Most Recent Note for FLS - 8/1/2023 12:54:29 PM
Fundamentals are not a match with the fact-based investment system's guidelines (C and A criteria).
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A N
S L
I M
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MPWR
- NASDAQ - ELECTRONICS - Semiconductor - Specialized
Monolithic Power Systems
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$547.76 |
-11.74
-2.10%
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$548.42
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$595.98
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-8.09% |
747,117
115.12%
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649,000
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Most Recent Note for MPWR - 8/1/2023 12:56:19 PM
Testing support at its 50 DMA line with today's loss while pulling back from its all-time high. Reported earnings -13% on -4% sales revenues for the Jun '23 quarter versus the year ago period, its 2nd quarterly comparison below the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong and steady.
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MTW
- NYSE - MANUFACTURING - Farm & Construction Machinery
Manitowoc Co
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$18.67 |
+0.55
3.04%
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$19.02
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$20.20
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-7.57% |
233,165
91.44%
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255,000
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Most Recent Note for MTW - 8/1/2023 12:57:07 PM
Consolidating near its 52-week high. Encountered recent resistance in the $18-20 area. Reported strong earnings on +11% sales revenues for the Mar '23 quarter versus the year-ago period. Recent quarterly comparisons showed strong earnings increases. Its up and down annual earnings history (A criteria) is a flaw with respect to the fact-based investment system.
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NOA
- NYSE - Oil&Gas-Field Services
North American Const Grp
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$24.73 |
+0.42
1.73%
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$24.85
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$26.30
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-5.97% |
76,894
106.80%
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72,000
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Most Recent Note for NOA - 8/1/2023 12:57:21 PM
Patient investors way watch for a new base or secondary buy point to possibly develop and be noted in the weeks ahead. There was a "breakaway gap" as it spiked to a new high on 7/27/23 after reporting Jun '23 quarterly earnings +176% on +15% sales revenues versus the year ago period. Reported strong Sep, Dec '22, and Mar '23 quarterly results versus the year-ago periods, helping it better match the fact-based investment system's fundamental guidelines.
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ROK
- NYSE - Electrical-Power/Equipmt
Rockwell Automation Inc
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$307.92 |
-28.38
-8.44%
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$314.15
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$348.52
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-11.65% |
1,432,476
199.23%
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719,000
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Most Recent Note for ROK - 8/1/2023 1:00:00 PM
Gapped down today violating its 50 DMA line after hovering near its 52-week high. Reported earnings +13% for the Jun '23 quarter versus the year-ago period. Prior quarterly earnings history was not strong and steady above the +25% minimum earnings guideline (C criteria). Annual earnings had a downturn in FY '20. Prior mid-day reports noted - <i>"It still faces resistance due to old overhead supply up to the $354 level."</i>
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RRX
- NYSE - Electrical-Power/Equipmt
Regal Rexnord Corp
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$164.48 |
+8.30
5.31%
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$165.66
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$162.89
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0.98% |
499,925
125.93%
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397,000
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Most Recent Note for RRX - 8/1/2023 1:01:49 PM
Hitting a new 52-week high with today's big volume-driven gain. Reported Jun '23 quarterly earnings -7% on -31% sales revenues versus the year ago period, and prior quarterly comparisons also were below the +25% minimum earnings guideline (C criteria).
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TAP
- NYSE - Beverages-Alcoholic
Molson Coors Brewing B
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$67.24 |
-2.53
-3.63%
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$67.49
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$70.90
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-5.16% |
3,549,750
160.77%
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2,208,000
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Most Recent Note for TAP - 8/1/2023 1:05:29 PM
Gapped down today retreating from its 52-week high testing its 50 DMA line ($66). Reported improved earnings in the Dec '22, Mar and Jun '23 quarters versus the year-ago periods. Annual earnings history (A criteria) is not a match with the fundamental guidelines of the fact-based investment system.
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TEX
- NYSE - MANUFACTURING - Farm & Construction Machinery
Terex Corp
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$60.94 |
+2.31
3.94%
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$62.03
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$65.64
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-7.16% |
718,108
101.57%
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707,000
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Most Recent Note for TEX - 8/1/2023 1:08:36 PM
Consolidating above its 50 DMA line after retreating from its 52-week high. Due to report Jun '23 quarterly results. Reported strong earnings results in the Sep, Dec '22, and Mar '23 quarters versus the year ago period. Prior earnings history has been erratic and not a match with the investment system's guidelines.
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WSO
- NYSE - Bldg-A/C & Heating Prds
Watsco Inc
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$375.87 |
-2.32
-0.61%
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$380.17
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$383.83
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-2.07% |
345,545
90.22%
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383,000
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Most Recent Note for WSO - 8/1/2023 1:10:28 PM
Consolidating near its all-time high and testing support near its 50 DMA line ($349). Reported earnings -19% for the Jun '23 quarter versus the year-ago period, well below the +25% minimum guideline (C criteria). Annual earnings growth has been strong.
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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,
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are the property of their respective owners, and are
likewise used for identification purposes only.
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