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AFTER MARKET UPDATE - MONDAY, JULY 17TH, 2023
Previous After Market Report Next After Market Report >>>
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DOW |
+76.32 |
34,585.35 |
+0.22% |
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Volume |
785,817,775 |
-4% |
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Volume |
4,612,008,800 |
-14% |
NASDAQ |
+131.25 |
14,244.95 |
+0.93% |
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Advancers |
1,636 |
57% |
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Advancers |
2,735 |
62% |
S&P 500 |
+17.37 |
4,522.79 |
+0.39% |
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Decliners |
1,245 |
43% |
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Decliners |
1,695 |
38% |
Russell 2000 |
+20.18 |
1,951.27 |
+1.04% |
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52 Wk Highs |
136 |
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52 Wk Highs |
223 |
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S&P 600 |
+9.54 |
1,246.20 |
+0.77% |
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52 Wk Lows |
21 |
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52 Wk Lows |
87 |
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Major Averages Posted Gains With Solid Leadership
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The stock market saw very little challenge from sellers outside of some individual stocks and the S&P 500 hit a new 52-week high. The volume totals reported were lighter on the NYSE and on the Nasdaq exchange versus the prior session. Breadth was positive as advancers led decliners by a 4-3 margin on the NYSE and by more than a 3-2 margin on the Nasdaq exchange. Leadership improved as there were 119 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus the total of 65 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Appropriate new buying efforts may be considered under the fact-based investment system.
PICTURED: The Nasdaq Composite Index outpaced the other major averages with Monday's solid gain. It is up +36.1% year-to-date.
Leadership continues from mega-cap stocks including Apple (AAPL +1.7%), Tesla (TSLA +3.20), and NVIDIA (NVDA +2.2%). The financial sector (+1.0%) was a pocket of relative strength in front of earnings reports due from Bank of America (BAC +1.0%), Morgan Stanley (MS +0.7%), and Charles Schwab (SCHW +0.2%) before Tuesday's open.
AT&T (T -6.7%) and Verizon (VZ -7.5%) both slumped amid concerns about potential liabilities and financial risk related to the telecom industry's historical use of lead sheathed cables. The weakness in Alphabet (GOOG -0.5%) also was responsible for the underperformance of the communication services sector (-0.7%). Microsoft (MSFT +0.1%) eked out a gain after the 9th Circuit Court of Appeals rejected the FTC's appeal to uphold the block on Microsoft's acquisition of Activision Blizzard (ATVI +3.5%).
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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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Tech and Financial Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.07%) and Broker/Dealer Index ($XBD +0.93%) both posted gains while the Retail Index ($RLX -0.49%) lost ground. The tech sector had a positive bias as the Semiconductor Index ($SOX +2.32%) outpaced the Networking Index ($NWX +0.67%) and the Biotech Index ($BTK +0.55%) posted unanimous gains. The Gold & Silver Index ($XAU +0.09%) finished flat while the Integrated Oil Index ($XOI -0.26%) inched lower and the Oil Services Index ($OSX +0.65%) posted a modest gain.
PICTURED: The Broker/Dealer Index ($XBD +0.93%) posted a modest gain. It has been making steady progress above its 50-day and 200-day moving average (DMA) lines and it has rallied +18.9% from its May 2023 low.
Oil Services |
$OSX |
87.29 |
+0.54 |
+0.63% |
+4.09% |
Integrated Oil |
$XOI |
1,682.02 |
-4.38 |
-0.26% |
-5.89% |
Semiconductor |
$SOX |
3,837.31 |
+86.90 |
+2.32% |
+51.55% |
Networking |
$NWX |
832.77 |
+5.58 |
+0.67% |
+6.31% |
Broker/Dealer |
$XBD |
491.81 |
+4.52 |
+0.93% |
+9.50% |
Retail |
$RLX |
3,539.14 |
-17.49 |
-0.49% |
+28.51% |
Gold & Silver |
$XAU |
127.26 |
+0.12 |
+0.09% |
+5.30% |
Bank |
$BKX |
83.16 |
+0.88 |
+1.07% |
-17.54% |
Biotech |
$BTK |
5,354.94 |
+29.48 |
+0.55% |
+1.40% |
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Perched Near Pivot Point After Best-Ever Close
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Lattice Semiconductor (LSCC +$4.30 or +4.67% to $96.45) posted a gain today with below average volume for a best-ever close. It is perched within close striking distance of its 52-week high Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Its 50-day moving average (DMA) line ($86.38) defines near-term support to watch on pullbacks
LSCC was highlighted in yellow with pivot point cited based on its 3/23/23 high plus 10 cents in the 6/13/23 mid-day report (read here). Fundamentals remain strong. The high-ranked Elec-Semicondctor Fablss firm reported Mar '23 quarterly earnings +38% on +22% sales revenues versus the year-ago period, its 9th consecutive strong quarterly comparison above the +25% minimum earnings guideline (C criteria). Its annual earnings history (A criteria) has been strong. It has a 99 Earnings Per Share Rating, the highest possible rank. The company has 137.6 million shares outstanding (S criteria). The number of top-rated funds owning its share rose from 765 in Jun '22 to 1,043 in Jun '23, a reassuring sign concerning the I criteria. It has a Timeliness Rating of A but an Accumulation/Distribution Rating of C+. Its current Up/Down Volume Ratio of 0.9 is a sign of slight distribution 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 |
STRL
-
NASDAQ
Sterling Infrastructure
Bldg-Heavy Construction
|
$59.24
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+0.42
0.71% |
$59.93
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416,809 130.66% of 50 DAV
50 DAV is 319,000
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$59.48 -0.40%
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12/14/2022
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$32.41
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PP = $33.72
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MB = $35.41
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Most Recent Note - 7/11/2023 8:28:18 PM
G - Posted a 3rd consecutive gain with lighter volume, perched near its all-time high, very extended from any sound base. Mar '23 quarterly earnings were below the +25% minimum guideline (C criteria) raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Streak of Gains Lifts Sterling Infrastructure to New Highs - 7/3/2023 |
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C
A
S
I |
FIX
-
NYSE
Comfort Systems USA
Bldg-A/C and Heating Prds
|
$165.95
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+2.17
1.32% |
$166.69
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166,859 67.28% of 50 DAV
50 DAV is 248,000
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$167.53 -0.94%
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4/27/2023
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$148.85
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PP = $152.23
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MB = $159.84
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Most Recent Note - 7/12/2023 5:09:58 PM
G - Posted a 4th consecutive small gain today with below-average volume. Hovering near its all-time high and above its "max buy" level. No resistance remains due to overhead supply. Its 50 DMA line ($155.72) defines important near-term support to watch.
>>> FEATURED STOCK ARTICLE : "Negative Reversal" Following Recent Volume-Driven Gains - 6/16/2023 |
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C
A
S
I |
KOF
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NYSE
Coca-Cola Femsa ADR
Beverages-Non-Alcoholic
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$83.69
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-0.73
-0.86% |
$84.40
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130,922 75.24% of 50 DAV
50 DAV is 174,000
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$91.23 -8.26%
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6/9/2023
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$88.61
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PP = $91.33
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MB = $95.90
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Most Recent Note - 7/13/2023 5:26:07 PM
G - Posted a 3rd consecutive gain today approaching its 50 DMA line following a positive reversal. A rebound above the 50 DMA line ($86.18) is needed for its outlook to improve. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Slumping Below 50-Day Moving Average and Below Prior Low - 7/6/2023 |
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C
A
S
I |
CLH
-
NYSE
Clean Harbors
Pollution Control
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$167.22
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+1.95
1.18% |
$167.75
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173,215 41.94% of 50 DAV
50 DAV is 413,000
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$172.54 -3.08%
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3/10/2023
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$136.89
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PP = $136.74
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MB = $143.58
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Most Recent Note - 7/11/2023 8:32:56 PM
G - Volume was heavy today while there was a "negative reversal" after touching a new all-time high. It is extended from any sound base. Its 50 DMA line ($150.46) and prior high define important near-term support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base and Hovering Near High - 6/15/2023 |
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C
A
S
I |
SPSC
-
NASDAQ
SPS Commerce
Comp Sftwr-Spec Enterprs
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$193.73
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+4.07
2.15% |
$194.55
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156,879 81.71% of 50 DAV
50 DAV is 192,000
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$192.67 0.55%
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4/24/2023
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$150.01
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PP = $157.56
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MB = $165.44
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Most Recent Note - 7/11/2023 8:26:47 PM
G - Posted a 2nd consecutive gain with above average volume. Still very extended from the previously noted base. Reported Mar '23 quarterly earnings +22% on +20% versus the year-ago period, below the +25% minimum earnings guideline (C criteria) raising some fundamental concerns.
>>> FEATURED STOCK ARTICLE : Perched Near High Following Noted Volume-Driven Gains - 6/21/2023 |
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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 |
HUBB
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NYSE
Hubbell
Electrical-Power/Equipmt
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$331.96
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+1.96
0.59% |
$333.74
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290,766 75.52% of 50 DAV
50 DAV is 385,000
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$337.23 -1.56%
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4/25/2023
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$262.85
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PP = $257.51
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MB = $270.39
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Most Recent Note - 7/14/2023 12:20:32 PM
G - Still hovering near its all-time high, very extended from the prior base. Its 50 DMA line ($301.72) defines initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hubbell on Track for 11th Weekly Gain - 6/22/2023 |
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C
A
S
I |
NVR
-
NYSE
NVR
Bldg-Resident/Comml
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$6,408.98
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+12.43
0.19% |
$6,445.00
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13,242 55.18% of 50 DAV
50 DAV is 24,000
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$6,392.26 0.26%
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4/25/2023
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$5,882.18
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PP = $5,978.25
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MB = $6,277.16
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Most Recent Note - 7/11/2023 8:37:54 PM
Y - Color code is changed to yellow after pulling back below its "max buy" level. Its 50 DMA line ($5,911) defines near-term support watch.
>>> FEATURED STOCK ARTICLE : New High Close for Strong Homebuilder - 6/30/2023 |
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C
A
S
I |
PHM
-
NYSE
PulteGroup
Bldg-Resident/Comml
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$81.70
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-0.81
-0.98% |
$82.43
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2,148,964 76.78% of 50 DAV
50 DAV is 2,799,000
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$81.06 0.79%
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4/25/2023
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$65.17
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PP = $64.01
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MB = $67.21
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Most Recent Note - 7/14/2023 12:55:01 PM
G - On track for a 6th consecutive gain today with lighter volume. Very extended from any sound base. Reported earnings +28% for the Mar '23 quarter versus the year-ago period. Important support to watch is defined by its 50 DMA line ($72).
>>> FEATURED STOCK ARTICLE : Negative Reversal After Hitting Another New High - 6/26/2023 |
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C
A
S
I |
AMPH
-
NASDAQ
Amphastar Pharm
Medical-Biomed/Biotech
|
$56.69
|
+0.82
1.47% |
$56.95
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274,497 60.73% of 50 DAV
50 DAV is 452,000
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$58.80 -3.59%
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5/15/2023
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$43.56
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PP = $44.15
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MB = $46.36
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Most Recent Note - 7/11/2023 8:30:26 PM
G - Pulled back today with higher (near average) volume, retreating from its all-time high. Extended from any sound base. Its 50 DMA line ($47.21) and prior highs in the $44 area define important support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Hit Another New High With 4th Consecutive Volume-Driven Gain - 6/20/2023 |
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C
A
S
I |
ANET
-
NYSE
Arista Networks
Computer-Networking
|
$170.42
|
+4.84
2.92% |
$170.46
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1,873,314 52.52% of 50 DAV
50 DAV is 3,567,000
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$178.36 -4.45%
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5/30/2023
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$176.35
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PP = $171.54
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MB = $180.12
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Most Recent Note - 7/17/2023 5:49:16 PM
G - Posted a gain today with below-average volume, approaching prior highs. It faces little near-term resistance due to overhead supply up to the $178 level. Fundamentals remain strong. Its 50 DMA line ($154) defines near-term support above the prior low ($148.32).
>>> FEATURED STOCK ARTICLE : Wedging Higher After Rebounding Above 50-Day Moving Average - 7/12/2023 |
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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 |
PANW
-
NASDAQ
Palo Alto Networks
Computer Sftwr-Security
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$250.05
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+8.79
3.64% |
$250.77
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5,675,937 85.71% of 50 DAV
50 DAV is 6,622,000
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$258.88 -3.41%
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6/5/2023
|
$228.35
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PP = $213.73
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MB = $224.42
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Most Recent Note - 7/17/2023 5:52:38 PM
G - Posted a 3rd gain today with lighter volume and it remains perched near its all-time high. Its 50 DMA line ($223.48) and prior high ($213) define near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Strength Continues for Network Security Leader - 6/27/2023 |
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C
A
S
I |
LSCC
-
NASDAQ
Lattice Semiconductor
Elec-Semicondctor Fablss
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$96.45
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+4.30
4.67% |
$97.23
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1,693,976 70.85% of 50 DAV
50 DAV is 2,391,000
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$97.27 -0.84%
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6/13/2023
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$91.73
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PP = $96.92
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MB = $101.77
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Most Recent Note - 7/17/2023 5:44:22 PM
Y - Posted a gain for a best-ever close and it is perched within close striking distance of its 52-week high and pivot point. Its 50 DMA line ($86.38) defines near-term support to watch. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched Near Pivot Point After Best-Ever Close - 7/17/2023 |
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C
A
S
I |
XPEL
-
NASDAQ
XPEL
Auto/Truck-Replace Parts
|
$83.01
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+0.07
0.08% |
$84.40
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72,986 54.47% of 50 DAV
50 DAV is 134,000
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$87.46 -5.09%
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6/28/2023
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$83.14
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PP = $87.11
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MB = $91.47
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Most Recent Note - 7/13/2023 5:28:26 PM
Y - Pulled back today with below-average volume. Perched near the pivot point cited based on its 8/15/23 high plus 10 cents. Within close striking distance of its 52-week high after an orderly 10-month base. Reported Mar '23 quarterly earnings +46% on +19% sales revenues versus the year ago period, its 3rd quarterly comparison above the +25% minimum earnings guideline (C criteria), helping it better match the winning models of the fact-based investment system.
>>> FEATURED STOCK ARTICLE : XPEL Returns to Featured Stocks List After Long Consolidation - 6/28/2023 |
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C
A
S
I |
FTNT
-
NASDAQ
Fortinet
Computer Sftwr-Security
|
$80.28
|
+1.36
1.72% |
$80.60
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3,961,586 71.95% of 50 DAV
50 DAV is 5,506,000
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$79.03 1.58%
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7/10/2023
|
$78.29
|
PP = $74.45
|
MB = $78.17
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Most Recent Note - 7/12/2023 5:13:14 PM
Y - Touched a new high but there was a "negative reversal" today with slightly higher volume. Gain and close above the pivot point backed by +51% above average volume on 7/10/23 triggered a proper technical buy signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Fortinet Powered to New All-Time High - 7/10/2023 |
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C
A
S
I |
PII
-
NYSE
Polaris
Leisure-Products
|
$129.43
|
+1.57
1.23% |
$129.75
|
372,053 69.93% of 50 DAV
50 DAV is 532,000
|
$131.09 -1.27%
|
7/11/2023
|
$126.92
|
PP = $123.97
|
MB = $130.17
|
Most Recent Note - 7/12/2023 12:37:44 PM
Y - Hit another new high today. Finished strong after highlighted in yellow in the prior mid-day report with pivot point cited based on its 8/16/22 high plus 10 cents. Gain and strong close above the pivot point triggered a technical buy signal. Reported very strong Sep, Dec '22, and Mar '23 quarterly sales revenues and earnings increases above the +25% minimum (C criteria) versus the year ago periods. Annual earnings (A criteria) history had a slight downturn in FY '19 followed by strong growth. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Volume-Driven Breakout for Polaris - 7/11/2023 |
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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 |
ALGM
-
NASDAQ
Allegro MicroSystems
Elec-Semicondctor Fablss
|
$51.98
|
+2.11
4.23% |
$52.38
|
1,558,602 107.05% of 50 DAV
50 DAV is 1,456,000
|
$52.60 -1.18%
|
7/13/2023
|
$49.86
|
PP = $48.82
|
MB = $51.26
|
Most Recent Note - 7/17/2023 5:46:31 PM
Y - Posted a gain with average volume for a best-ever close. It was highlighted in yellow with pivot point cited based on its 4/03/23 high plus 10 cents in the 7/13/23 mid-day report.
>>> FEATURED STOCK ARTICLE : Volume Heavy Behind Considerable Breakout Gain - 7/13/2023 |
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C
A
S
I |
ESQ
-
NASDAQ
Esquire Finl Hldgs
Finance-Commercial Loans
|
$47.44
|
+1.17
2.53% |
$47.60
|
48,028 165.61% of 50 DAV
50 DAV is 29,000
|
$48.13 -1.43%
|
7/14/2023
|
$45.80
|
PP = $48.23
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MB = $50.64
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Most Recent Note - 7/17/2023 5:50:43 PM
Y - Posted a volume-driven gain today challenging its 52-week high. Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a proper technical buy signal.
>>> FEATURED STOCK ARTICLE : Esquire Perched Near Prior Highs - 7/14/2023 |
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A
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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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You may opt-out of receiving report notifications
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by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
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