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AFTER MARKET UPDATE - MONDAY, MARCH 22ND, 2021
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DOW |
+103.23 |
32,731.20 |
+0.32% |
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Volume |
780,681,258 |
-77% |
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Volume |
5,200,422,600 |
-31% |
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NASDAQ |
+162.31 |
13,377.54 |
+1.23% |
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Advancers |
1,443 |
45% |
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Advancers |
1,780 |
44% |
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S&P 500 |
+27.49 |
3,940.59 |
+0.70% |
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Decliners |
1,783 |
55% |
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Decliners |
2,280 |
56% |
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Russell 2000 |
-20.70 |
2,266.84 |
-0.91% |
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52 Wk Highs |
119 |
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52 Wk Highs |
131 |
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S&P 600 |
-19.27 |
1,335.82 |
-1.42% |
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52 Wk Lows |
30 |
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52 Wk Lows |
82 |
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Major Indices Rose With Less Decisive Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow rose 103 points, while the S&P 500 is added 0.7%. The tech-heavy Nasdaq Composite jumped 1.2%. The Russell 2000 bucked the uptrend, with the index of small cap-stocks falling 0.9%. The volume totals were lighter than the prior session totals on the NYSE and on the Nasdaq exchange, Friday's having been inflated by options expirations. Breadth was negative as decliners led advancers by a 9-7 margin on the NYSE and by an 11-9 margin on the Nasdaq exchange. There were 19 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 26 on the prior session. New 52-week highs totals still outnumbered new 52-week lows totals on both the NYSE and the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Investors are reminded to always make buying and selling decisions on case-by-case basis under the strict criteria and rules of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average is perched near its all-time high. The graph illustrates Friday's big volume spike, largely attributed to options expirations.
US stocks ended higher on Monday, with tech and growth-oriented shares leading the way as falling Treasury yields provided a tailwind to equities. Treasuries advanced, with the yield on the 10-year note down four basis points to 1.68%, stabilizing after the benchmark yield posted a seventh consecutive weekly increase on Friday. Notably, an index that tracks Treasury bonds maturing 10 years or longer closed more than 20% below its March 2020 peak last week, signaling the end of a bull market for longer-dated Treasuries that began in 1981. On the data front, existing home sales fell 6.6% to a six-month low in February as inclement weather and record low supply weighed on housing activity. Separately, the Chicago Fed's National Activity Index unexpectedly deteriorated to negative 1.09 last month from January's upwardly revised 0.75 reading.
Seven of 11 S&P 500 sectors closed in positive territory. Technology stocks paced the gains, with shares of Apple and Microsoft each rising more than 2%. Financials was the worst performer, as a decline in bond yields weighed on bank stocks. In corporate news, Kansas City Southern (KSU +11.17%) rose after the company agreed to a $25 billion cash and stock takeover offer from Canadian Pacific Railway (CP -5.66%). Meanwhile, AstraZeneca (AZN +4.04%) rose after a U.S. study showed its Covid-19 vaccine had 79% efficacy in preventing symptomatic illness and 100% effectiveness against critical disease and hospitalization. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Retail and Tech Indices Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.83%) posted a gain and was a positive influence on the major indices while the Bank Index ($BKX -2.29%) created a drag and the Broker/Dealer Index ($XBD -0.19%) also edged lower. The Semiconductor Index ($SOX +2.20%) and Biotech Index ($BTK +1.32%) led the tech sector while the Networking Index ($NWX +0.46%) also ended higher. Commodity-linked groups had a negative bias as the Gold & Silver Index ($XAU -1.00%), Oil Services Index ($OSX -1.43%), and Integrated Oil Index ($XOI -1.20%) each lost ground.
PICTURED: The Networking Index ($NWX +0.46%) is consolidating above its 50-day moving average (DMA) line, not far off its all-time high.
| Oil Services |
$OSX |
55.58 |
-0.81 |
-1.43% |
+25.38% |
| Integrated Oil |
$XOI |
1,005.24 |
-12.25 |
-1.20% |
+26.85% |
| Semiconductor |
$SOX |
3,077.55 |
+66.18 |
+2.20% |
+10.09% |
| Networking |
$NWX |
809.66 |
+3.68 |
+0.46% |
+12.90% |
| Broker/Dealer |
$XBD |
450.92 |
-0.85 |
-0.19% |
+19.42% |
| Retail |
$RLX |
3,613.83 |
+29.75 |
+0.83% |
+1.42% |
| Gold & Silver |
$XAU |
140.15 |
-1.42 |
-1.00% |
-2.80% |
| Bank |
$BKX |
118.52 |
-2.77 |
-2.29% |
+21.05% |
| Biotech |
$BTK |
5,653.32 |
+73.73 |
+1.32% |
-1.49% |
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Slumping Into Prior Base Following Breakout
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Flagstar Bancorp Inc (FBC $46.42 -$1.16 -2.44%) suffered a 3rd consecutive loss today, slumping below its pivot point and falling back further into the prior base, raising concerns. Its 50-day moving average (DMA) line ($45.54) define important near-term support to watch above prior lows on pullbacks.
FBC produced a spurt of gains that triggered a technical buy signal after it was highlighted in yellow with pivot point cited based on its 1/26/21 high plus 10 cents in the 3/04/21 mid-day report (read here). The FSU section included an annotated graph under the headline, "Negative Reversal When Poised For Technical Breakout".
The high-ranked BANKING - Savings and Loans firm reported very strong quarterly earnings results through Dec '20 well above the +25% minimum (C criteria). Annual earnings history has been good. The number of top-rated funds that own its shares rose from 395 in Mar '20 to 440 in Dec '20, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight 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 |
FBC
-
NYSE
Flagstar Bancorp Inc
BANKING - Savings and Loans
|
$46.42
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-1.16
-2.44% |
$47.46
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472,636
70.23% of 50 DAV
50 DAV is 673,000
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$51.58
-10.00%
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3/4/2021
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$47.26
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PP = $48.02
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MB = $50.42
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Most Recent Note - 3/22/2021 5:32:15 PM
Y - Suffered a 3rd consecutive loss today, slumping below its pivot point and falling further into the prior base, raising concerns. Its 50 DMA line ($45.54) defines important near-term support to watch above the prior low. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Slumping Into Prior Base Following Breakout - 3/22/2021 |
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News |
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C
A
S
I |
CRL
-
NYSE
Charles River Labs Intl
DRUGS - Biotechnology
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$288.13
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+1.45
0.51% |
$291.70
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300,698
94.86% of 50 DAV
50 DAV is 317,000
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$303.79
-5.15%
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12/17/2020
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$247.06
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PP = $257.98
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MB = $270.88
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Most Recent Note - 3/19/2021 5:18:11 PM
G - Extended from any sound base, still consolidating well above its 50 DMA line ($278.48) which acted as support throughout its ongoing ascent. Its Relative Strength Rating is 75, below the 80+ minimum guideline for buy candidates. Recently reported Dec '20 quarterly earnings +19% on +14% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Made Gradual Progress, Now Extended From Any Sound Base - 3/16/2021 |
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News |
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C
A
S
I |
OPY
-
NYSE
Oppenheimer Holdings Inc
FINANCIAL SERVICES - Investment Brokerage - Regiona
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$41.08
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-1.15
-2.72% |
$42.55
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185,815
142.93% of 50 DAV
50 DAV is 130,000
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$44.38
-7.44%
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2/25/2021
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$38.95
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PP = $38.11
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MB = $40.02
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Most Recent Note - 3/22/2021 5:36:52 PM
G - Traded below its "max buy" level as it pulled back from its all-time high with today's 2nd consecutive volume-driven loss.
>>> FEATURED STOCK ARTICLE : Perched at Record High After 6 Consecutive Gains - 3/12/2021 |
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C
A
S
I |
CLFD
-
NASDAQ
Clearfield Inc
TELECOMMUNICATIONS - Cables / Satalite Equipment
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$31.66
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-0.31
-0.97% |
$32.71
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94,928
54.56% of 50 DAV
50 DAV is 174,000
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$38.75
-18.30%
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1/20/2021
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$31.38
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PP = $28.42
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MB = $29.84
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Most Recent Note - 3/18/2021 5:31:04 PM
G - Pulled back today on lighter volume but closed below its 50 DMA line ($32.29) raising concerns. It has not formed a sound base of sufficient length. Prior highs in the $28 area previously acted as support. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Quiet Gain Repaired 50-Day Moving Average Violation - 3/9/2021 |
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C
A
S
I |
EDUC
-
NASDAQ
Educational Development
WHOLESALE - Basic Materials Wholesale
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$17.90
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-0.48
-2.61% |
$19.00
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48,164
126.75% of 50 DAV
50 DAV is 38,000
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$20.00
-10.50%
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3/10/2021
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$17.89
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PP = $20.10
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MB = $21.11
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Most Recent Note - 3/19/2021 5:22:58 PM
Y - Rebounded toward its 52-week high with today's gain backed by light volume. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal. This thinly traded Media - Books firm's annual earnings (A criteria) history has strong.
>>> FEATURED STOCK ARTICLE : Gain Leaves Media - Books Firm Perched Near Pivot Point - 3/10/2021 |
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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 |
SMPL
-
NASDAQ
Simply Good Foods Co
Food-Confectionery
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$31.77
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-0.49
-1.52% |
$33.13
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708,282
102.65% of 50 DAV
50 DAV is 690,000
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$35.25
-9.87%
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12/28/2020
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$30.40
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PP = $31.44
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MB = $33.01
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Most Recent Note - 3/19/2021 1:10:00 PM
Y - Gapped down today after a weak finish on the prior session. Prior highs in the $32 area define initial support to watch above its 50 DMA line ($29.72). Its Relative Strength Rating is 77, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average; Relative Strength Improved - 3/5/2021 |
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C
A
S
I |
XPEL
-
NASDAQ
Xpel Inc
Auto/Truck-Tires andamp; Misc
|
$55.26
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-0.81
-1.44% |
$58.92
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130,616
42.41% of 50 DAV
50 DAV is 308,000
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$65.74
-15.94%
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3/11/2021
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$59.70
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PP = $60.87
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MB = $63.91
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Most Recent Note - 3/18/2021 5:29:30 PM
Y - Today's 4th loss in the span of 5 sessions completely negated the recent breakout as it rolled back into the prior base raising concerns. The next important support to watch is its 50 DMA line ($54.08).
>>> FEATURED STOCK ARTICLE : Powerful Breakout Backed by Heavy Volume - 3/11/2021 |
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C
A
S
I |
DT
-
NYSE
Dynatrace Inc
Computer Sftwr-Enterprse
|
$51.76
|
+0.86
1.69% |
$53.62
|
2,557,923
97.13% of 50 DAV
50 DAV is 2,633,400
|
$56.94
-9.10%
|
2/4/2021
|
$51.39
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PP = $48.95
|
|
MB = $51.40
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Most Recent Note - 3/19/2021 5:21:08 PM
Y - Tested support again at its 50 DMA line ($48.96) today and managed a "positive reversal". Prior highs in the $48 area help define import near-term support. More damaging losses would raise serious concerns. Its Relative Strength Rating has slumped to 63, well below the 80+ minimum guideline for buy candidates. Fundamentals remain strong after it reported Dec '20 earnings +70% on +28% sales revenues versus the year ago period. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Tested Again - 3/19/2021 |
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C
A
S
I |
MRBK
-
NASDAQ
Meridian Corp
Banks-Northeast
|
$25.88
|
-1.39
-5.10% |
$26.88
|
45,665
134.71% of 50 DAV
50 DAV is 33,900
|
$27.96
-7.44%
|
2/22/2021
|
$25.58
|
PP = $26.10
|
|
MB = $27.41
|
Most Recent Note - 3/22/2021 5:34:49 PM
Y - Gapped down today, abruptly retreating after closing at the session high on the prior session while challenging its 52-week high. Prior high defines initial support to watch above its 50 DMA line ($23.41) on pullbacks.
>>> FEATURED STOCK ARTICLE : Prior High Defines Initial Support to Watch - 3/15/2021 |
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C
A
S
I |
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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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only to active Paid Premium Members.
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