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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 7TH, 2024
Previous After Market Report Next After Market Report >>>
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DOW |
+156.00 |
38,677.36 |
+0.40% |
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Volume |
991,157,231 |
+6% |
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Volume |
4,603,528,400 |
-4% |
|
NASDAQ |
+147.65 |
15,756.64 |
+0.95% |
|
Advancers |
1,398 |
50% |
|
Advancers |
1,768 |
42% |
|
S&P 500 |
+40.83 |
4,995.06 |
+0.82% |
|
Decliners |
1,374 |
50% |
|
Decliners |
2,477 |
58% |
|
Russell 2000 |
-3.27 |
1,950.36 |
-0.17% |
|
52 Wk Highs |
154 |
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|
52 Wk Highs |
225 |
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S&P 600 |
-2.49 |
1,257.53 |
-0.20% |
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52 Wk Lows |
31 |
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52 Wk Lows |
147 |
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Leadership Improved as Major Indices Posted Solid Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major averages posted solid gains on Wednesday. Volume was reported mixed, higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Advancers and decliners were evenly matched on the NYSE while decliners led advancers by a 4-3 margin on the Nasdaq exchange. Leadership improved as there were 93 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, well above the total of 36 on the prior session. New 52-week highs outnumbered new lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts should be only made in stocks fitting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average managed a new high close.
Enphase Energy (ENPH +16.91%), Emerson Electric (EMR +10.43%), Chipotle Mexican Grill (CMG +7.21%), Ford (F +6.05%), and CVS Health (CVS +3.10%) each posted gains following their earnings reports. Meta Platforms (META +3.27%), NVIDIA (NVDA +2.75%), Microsoft (MSFT +2.11%), Alphabet (GOOG +0.87%), Amazon.com (AMZN +0.82%) and Eli Lilly (LLY +2.89%) provided tremendous market-cap weighted influence on the major indices which was positive. Snap (SNAP -34.61%) fell below Q4 revenue estimates and issued disappointing guidance. Dow component Amgen (AMGN -6.39%) fell following its earnings results. New York Community Bancorp (NYCB +7.1%) managed a positive reversal after Moody's downgraded its long-term issuer rating to junk status (Ba2).
The leading sectors included information technology (+1.4%), consumer discretionary (+1.1%), communication services (+0.9%), and the materials (+0.8%) sector. The financial sector rose +0.7%.
The new $42 billion 10-yr note auction met strong demand. The 2-yr note yield settled up two basis points at 4.42% while the 10-yr note yield also settled up two basis points to 4.11%. Thursday will feature a new $25 billion 30-yr bond auction.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Semiconductor Indexes Led Gainers
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.01%) outpaced the Broker/Dealer Index ($XBD +0.37%) while the Bank Index ($BKX +0.03%) finished flat. The tech sector was mixed as the Semiconductor Index ($SOX +1.62%) rose while the Biotech Index ($BTK -2.00%) fell and the Networking Index ($NWX -0.26%) edged lower. The Gold & Silver Index ($XAU -1.06%) fell while the Oil Services Index ($OSX -0.05%) and the Integrated Oil Index ($XOI +0.17%) both were little changed.
![]() PICTURED: The Bank Index ($BKX +0.03%) recovered from the session's low and closed just above its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
78.67 |
-0.04 |
-0.05% |
-6.22% |
| Integrated Oil |
$XOI |
1,880.56 |
+3.17 |
+0.17% |
+0.97% |
| Semiconductor |
$SOX |
4,408.73 |
+70.46 |
+1.62% |
+5.59% |
| Networking |
$NWX |
829.84 |
-2.13 |
-0.26% |
-0.36% |
| Broker/Dealer |
$XBD |
541.21 |
+2.00 |
+0.37% |
-2.89% |
| Retail |
$RLX |
4,235.07 |
+42.55 |
+1.01% |
+8.91% |
| Gold & Silver |
$XAU |
111.70 |
-1.20 |
-1.06% |
-11.13% |
| Bank |
$BKX |
93.47 |
+0.03 |
+0.03% |
-2.65% |
| Biotech |
$BTK |
5,089.96 |
-103.68 |
-2.00% |
-6.07% |
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Gap Up Gain Followed Latest Earnings Report
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Tenable Holdings (TEMB +$2.52 or 5.29% to $50.15) was highlighted in yellow in the earlier mid-day report (read here) with a pivot point cited based on its 8/01/23 high plus 10 cents. It pulled back from its early high after hitting a new 52-week high and there was +225% above average volume behind the gain and close above the pivot point clinching a technical buy signal.
TENB has a 98 Earnings Per Share Rating. Bullish action came after it reported earnings for the Dec '23 quarter +108% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. Its prior quarterly and annual earnings history (C and A criteria) is a good match with the fact-based investment system's fundamental guidelines.
It hails from the Computer Sftwr-Security group which is currently ranked 4th on the 197 Industry Groups list (L criteria). There are only 116.9 million shares outstanding (S criteria). The number of top-rated funds owning its shares rose from 551 in Jun '23 to 569 in Dec '23, and its currently Up/Down Volume Ratio of 1.7 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 |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$267.05
|
+2.16
0.82% |
$270.16
|
2,342,027
136.80% of 50 DAV
50 DAV is 1,712,000
|
$276.99
-3.59%
|
10/31/2023
|
$188.84
|
PP = $198.80
|
|
MB = $208.74
|
Most Recent Note - 2/6/2024 6:01:29 PM
G - Extended from any sound base and retreating from its all-time high with today's volume-driven loss. Its 50 DMA line ($241) defines near-term support above the prior low ($226.60 on 1/04/24) area. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Pulled Back From All Time High With Gap Down on Prior Session - 2/1/2024 |
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C
A
S
I |
NVO
-
NYSE
Novo Nordisk ADR
Medical-Ethical Drugs
|
$118.66
|
+1.05
0.89% |
$119.67
|
6,198,258
143.15% of 50 DAV
50 DAV is 4,330,000
|
$118.70
-0.03%
|
11/2/2023
|
$100.97
|
PP = $104.10
|
|
MB = $109.31
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Most Recent Note - 2/6/2024 12:36:38 PM
G - Holding its ground stubbornly and extended from any sound base after a spurt of volume-driven gains. Its 50 DMA line ($104) and recent low ($103.38 on 1/23/24) define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gap Up Gain on Prior Session Triggered Technical Buy Signal - 1/5/2024 |
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C
A
S
I |
AXON
-
NASDAQ
Axon Enterprise
Security/Sfty
|
$265.47
|
+6.01
2.32% |
$270.95
|
784,466
208.63% of 50 DAV
50 DAV is 376,000
|
$262.95
0.96%
|
11/8/2023
|
$127.84
|
PP = $223.30
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MB = $234.47
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Most Recent Note - 2/7/2024 7:04:14 PM
G - Posted a 5th consecutive gain today backed by above-average volume for a new all-time high. Recently found support above its 50-day moving average (DMA) line ($248.72).
>>> FEATURED STOCK ARTICLE : Consolidating Well Above Near-Term Support - 1/9/2024 |
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C
A
S
I |
TDG
-
NYSE
TransDigm Group
Aerospace/Defense
|
$1,147.01
|
+6.41
0.56% |
$1,150.15
|
368,429
189.91% of 50 DAV
50 DAV is 194,000
|
$1,142.55
0.39%
|
12/12/2023
|
$1,000.39
|
PP = $1,013.18
|
|
MB = $1,063.84
|
Most Recent Note - 2/6/2024 6:11:21 PM
G - Posted a 6th consecutive gain today with above-average volume for a new all-time high. Prior highs in the $1,013-1,015 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Inching to New Highs With 6th Consecutive Gain - 1/11/2024 |
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C
A
S
I |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
|
$364.56
|
+23.07
6.75% |
$366.14
|
6,539,550
180.95% of 50 DAV
50 DAV is 3,614,000
|
$350.60
3.98%
|
1/10/2024
|
$313.65
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PP = $318.00
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MB = $333.90
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Most Recent Note - 2/7/2024 1:14:46 PM
G - Volume is heavier behind today's gain for a new all-time high, getting very extended from any sound base. Prior high ($318) and its 50 DMA line ($312) define important support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Paused After 6 Gains to a New All-Time High - 1/17/2024 |
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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 |
URI
-
NYSE
United Rentals
Comml Svcs-Leasing
|
$652.73
|
-1.81
-0.28% |
$658.86
|
402,302
57.15% of 50 DAV
50 DAV is 704,000
|
$658.63
-0.90%
|
1/24/2024
|
$576.90
|
PP = $585.60
|
|
MB = $614.88
|
Most Recent Note - 2/6/2024 6:14:10 PM
G - Volume totals cooling while stubbornly holding its ground near its all-time high. Prior high ($585.50) defines initial support to watch. Reported Dec '23 quarterly earnings +16% on +13% sales revenues versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Negative Reversal After New High for United Rentals - 1/24/2024 |
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C
A
S
I |
TBBK
-
NASDAQ
The Bancorp
Banks-Northeast
|
$42.12
|
-0.33
-0.78% |
$42.66
|
545,598
115.59% of 50 DAV
50 DAV is 472,000
|
$47.11
-10.59%
|
1/22/2024
|
$40.87
|
PP = $42.56
|
|
MB = $44.69
|
Most Recent Note - 2/6/2024 6:10:06 PM
Y - Posted a volume-driven gain today while testing prior highs in the $42 area and its color code is changed to yellow. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout Triggered Buy Signal After Earnings Report - 1/26/2024 |
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C
A
S
I |
LULU
-
NASDAQ
lululemon athletica
Retail-Apparel/Shoes/Acc
|
$457.75
|
+1.21
0.27% |
$463.25
|
1,012,274
64.76% of 50 DAV
50 DAV is 1,563,000
|
$516.39
-11.36%
|
12/8/2023
|
$490.61
|
PP = $485.93
|
|
MB = $510.23
|
Most Recent Note - 2/5/2024 6:57:11 PM
G - Halted its slide after gapping down on 1/31/24 violating its 50 DMA line ($479) triggering a technical sell signal. A rebound above the 50 DMA line is needed to help its outlook improve.
>>> FEATURED STOCK ARTICLE : Violation of 50-Day Moving Average Hurt Outlook - 2/2/2024 |
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C
A
S
I |
CRWD
-
NASDAQ
CrowdStrike Holdings
Computer Sftwr-Security
|
$317.78
|
+15.67
5.19% |
$321.07
|
3,975,862
117.66% of 50 DAV
50 DAV is 3,379,000
|
$307.77
3.25%
|
1/2/2024
|
$246.42
|
PP = $261.91
|
|
MB = $275.01
|
Most Recent Note - 2/7/2024 7:01:04 PM
G - Volume was +19% above average behind today's big gain for another new all-time high. Its 50 DMA line ($266) defines near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooking While Stubbornly Perched at All-Time High - 2/6/2024 |
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C
A
S
I |
ELF
-
NYSE
e.l.f. Beauty
Cosmetics/Personal Care
|
$164.82
|
-8.50
-4.90% |
$172.92
|
4,138,163
297.07% of 50 DAV
50 DAV is 1,393,000
|
$174.65
-5.63%
|
1/2/2024
|
$138.23
|
PP = $153.63
|
|
MB = $161.31
|
Most Recent Note - 2/7/2024 6:59:04 PM
G - Pulled back from its all-time high with today's big volume-driven loss. Reported Dec '23 quarterly earnings +54% on +85% sales revenues versus the year-ago period, continuing its strong earnings track record. Volume and volatility often increase near earnings news. Its 50 DMA line ($146) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Peched at All-Time High With Earnings News Due - 2/5/2024 |
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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 |
KOF
-
NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic
|
$97.59
|
-0.42
-0.43% |
$99.27
|
146,925
95.41% of 50 DAV
50 DAV is 154,000
|
$102.94
-5.20%
|
1/12/2024
|
$93.38
|
PP = $99.34
|
|
MB = $104.31
|
Most Recent Note - 2/5/2024 7:02:40 PM
Y - Abruptly reversed the prior session's gain and undercut its prior high today raising concerns while retreating from its 52-week high. Its 50 DMA line ($91.61) recently acted as support. Color code was changed to yellow as a valid secondary buy point was noted up to +5% above the recent high since finding support at its 10 WMA line after an earlier breakout. Its Relative Strength Rating is currently 84, well above the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Secondary Buy Point Noted After Finding Support - 1/12/2024 |
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C
A
S
I |
PCAR
-
NASDAQ
Paccar
Trucks and Parts-Hvy Duty
|
$105.06
|
+0.83
0.80% |
$105.61
|
1,883,631
81.72% of 50 DAV
50 DAV is 2,305,000
|
$105.00
0.06%
|
1/23/2024
|
$100.35
|
PP = $98.57
|
|
MB = $103.50
|
Most Recent Note - 2/6/2024 6:05:11 PM
G - Hit a new all-time high with today's 4th consecutive gain and its color code is changed to green after wedging above its "max buy" level. Reported Dec '23 quarterly earnings +53% on +11% sales revenues versus the year-ago period, its 9th quarterly comparison with better than the +25% minimum earnings guideline (C criteria). There was a downturn in FY' 20 annual earnings (A criteria) like many companies during the pandemic.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout for Paccar - 1/23/2024 |
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C
A
S
I |
HUBB
-
NYSE
Hubbell
Electrical-Power/Equipmt
|
$355.13
|
+4.88
1.39% |
$358.12
|
393,991
102.34% of 50 DAV
50 DAV is 385,000
|
$356.38
-0.35%
|
1/30/2024
|
$343.26
|
PP = $336.83
|
|
MB = $353.67
|
Most Recent Note - 2/2/2024 1:46:41 PM
Y - Hitting another new all-time high with today's volume-driven gain. Finished strong after highlighted in yellow in the 1/30/24 mid-day report with pivot point cited based on its 1/22/24 high after a cup-with-handle base.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Breakout Gain for Hubbell - 1/30/2024 |
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C
A
S
I |
MANH
-
NASDAQ
Manhattan Associates
Computer Sftwr-Enterprse
|
$245.73
|
-1.79
-0.72% |
$251.67
|
475,139
110.50% of 50 DAV
50 DAV is 430,000
|
$258.91
-5.09%
|
1/31/2024
|
$240.57
|
PP = $230.71
|
|
MB = $242.25
|
Most Recent Note - 2/6/2024 6:17:29 PM
G - Color code is changed to green while stubbornly holding its ground above its "max buy" level near its all-time high with volume totals cooling. Prior highs in the $230 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Big Volume Behind Breakout Gain - 1/31/2024 |
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C
A
S
I |
TENB
-
NASDAQ
Tenable Holdings
Computer Sftwr-Security
|
$50.15
|
+2.52
5.29% |
$53.50
|
3,163,830
345.77% of 50 DAV
50 DAV is 915,000
|
$49.77
0.76%
|
2/7/2024
|
$49.50
|
PP = $49.87
|
|
MB = $52.36
|
Most Recent Note - 2/7/2024 7:32:51 PM
Y - Finished in the lower third of its intra-day range but above the pivot point after it was highlighted in yellow in the mid-day report. The gain backed by +225% above average volume triggered a technical buy signal. Bullish action came after it reported earnings for the Dec '23 quarter +108% on +16% sales revenues versus the year-ago period. Volume and volatility often increase near earnings news. Prior quarterly and annual earnings history is a good match with the fact-based investment system's fundamental guidelines. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Gap Up Gain Followed Latest Earnings Report - 2/7/2024 |
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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 |
|
|
|
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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