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AFTER MARKET UPDATE - FRIDAY, OCTOBER 23RD, 2020
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DOW |
-28.09 |
28,335.57 |
-0.10% |
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Volume |
721,877,619 |
-15% |
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Volume |
3,119,776,900 |
-8% |
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NASDAQ |
+42.28 |
11,548.28 |
+0.37% |
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Advancers |
1,884 |
63% |
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Advancers |
2,121 |
62% |
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S&P 500 |
-28.79 |
3,467.31 |
-0.82% |
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Decliners |
1,106 |
37% |
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Decliners |
1,290 |
38% |
|
Russell 2000 |
+10.25 |
1,640.50 |
+0.63% |
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52 Wk Highs |
70 |
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52 Wk Highs |
74 |
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S&P 600 |
+4.80 |
933.72 |
+0.52% |
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52 Wk Lows |
21 |
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52 Wk Lows |
29 |
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Breadth Positive as Major Indices Ended Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Dow slipped 28 points, extending its weekly loss to 1.0%. The S&P 500 added 0.3%, paring its weekly decline to 0.5%. The Nasdaq Composite gained 0.4% for the day but slid 1.1% for the week. The reported volume totals were lighter than the prior session on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 3-2 margin on the NYSE and a 5-3 margin on the Nasdaq exchange. There were 32 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, versus the total of 27 on the prior session. New 52-week highs totals outnumbered new 52-week lows totals on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). New buying efforts may be justified in leading stocks on a case-by-case basis.  PICTURED: The Nasdaq Composite Index is consolidating above its 50-day moving average (DMA) line and near its record high.
Stocks finished mixed on Friday, as investors digested corporate earnings reports and continued to monitor negotiations on a pre-election fiscal stimulus deal. Talks for a fifth coronavirus relief bill seemed to reach a stalemate on Friday, with Treasury Secretary Steven Mnuchin remarking “significant issues” remained unresolved despite making progress this week.
Nine of 11 S&P 500 sectors ended in positive territory, with the Communication Services group pacing the gains. Energy stocks lagged the most amid a 2.2% drop in WTI crude oil prices. Information Technology also bucked the uptrend amid a disappointing earnings report from Intel. Shares of the chipmaker slid 10.8% after the company reported an unexpected decline in data center sales and provided tepid forward guidance. Meanwhile, Barclays (BCS +6.00%) rose after the bank reported better than expected profit and revenue numbers. Elsewhere, Boston Beer Company (SAM 18.85%) after strong forward guidance driven by seltzer growth. In other corporate news, Gilead Sciences (GILD +0.20%) edged higher after the U.S. Food and Drug Administration approved its COVID-19 antiviral drug, Remdesivir.
On the data front, a flash reading from research firm Markit showed the U.S. manufacturing sector expanded at a slightly slower pace than expected in October, while the services sector increased more than anticipated. Treasuries strengthened with the yield on the 10-year note down two basis point to 0.84%. |
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, Bank, and Integrated Oil Indexes Posted Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +0.96%) and Bank Index ($BKX +0.76%) posted modest gains and the Broker/Dealer Index ($XBD +0.12%) inched higher. The Semiconductor Index ($SOX -0.43%) and Networking Index ($NWX -0.21%) edged lower and the Biotech Index ($BTK -0.06%) finished flat. The Integrated Oil Index ($XOI +0.46%) edged higher and the Oil Services Index ($OSX -0.16%) finished slightly in the red while the Gold & Silver Index ($XAU -0.65%) suffered a larger loss. PICTURED: The Broker/Dealer Index ($XBD +0.12%) is consolidating above its 50-day moving average (DMA) line near its record high.
| Oil Services |
$OSX |
29.53 |
-0.05 |
-0.16% |
-62.29% |
| Integrated Oil |
$XOI |
603.52 |
+2.76 |
+0.46% |
-52.50% |
| Semiconductor |
$SOX |
2,360.23 |
-10.22 |
-0.43% |
+27.61% |
| Networking |
$NWX |
564.52 |
-1.16 |
-0.21% |
-3.24% |
| Broker/Dealer |
$XBD |
306.31 |
+0.38 |
+0.12% |
+5.49% |
| Retail |
$RLX |
3,487.74 |
+33.26 |
+0.96% |
+42.40% |
| Gold & Silver |
$XAU |
145.46 |
-0.95 |
-0.65% |
+36.04% |
| Bank |
$BKX |
80.97 |
+0.61 |
+0.76% |
-28.57% |
| Biotech |
$BTK |
5,375.13 |
-3.18 |
-0.06% |
+6.07% |
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Featured Stocks
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
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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 |
ADBE
-
NASDAQ
Adobe Inc
COMPUTER SOFTWARE and SERVICES - Application Software
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$488.50
|
+4.90
1.01% |
$488.51
|
1,778,871
57.51% of 50 DAV
50 DAV is 3,093,000
|
$536.88
-9.01%
|
9/10/2020
|
$488.46
|
PP = $536.88
|
|
MB = $563.72
|
Most Recent Note - 10/22/2020 5:31:18 PM
G - Color code is changed to green after slumping below its 50 DMA line ($487.83) with today's loss. Only a prompt rebound above the 50 DMA line would help its outlook improve. Fundamentals remain strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Slump Below 50-Day Moving Average Again Raises Concerns - 10/22/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
CRL
-
NYSE
Charles River Labs Intl
DRUGS - Biotechnology
|
$232.81
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-1.12
-0.48% |
$235.60
|
245,229
80.14% of 50 DAV
50 DAV is 306,000
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$250.29
-6.98%
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7/15/2020
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$192.66
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PP = $189.95
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MB = $199.45
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Most Recent Note - 10/22/2020 5:39:00 PM
G - Consolidating above prior highs and above its 50 DMA line ($223) which define near-term support to watch. Due to report Sep '20 quarterly results on 10/29/20. Volume and volatility often increase near earnings news.
>>> FEATURED STOCK ARTICLE : New Record High for Charles River Labs - 10/9/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
AMD
-
NASDAQ
Advanced Micro Devices
ELECTRONICS - Semiconductor - Broad Line
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$81.96
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+2.54
3.20% |
$81.99
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46,345,922
92.86% of 50 DAV
50 DAV is 49,909,000
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$94.28
-13.07%
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8/31/2020
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$90.42
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PP = $87.39
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MB = $91.76
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Most Recent Note - 10/23/2020 5:17:05 PM
G - Rebounded near its 50 DMA line ($82.04) today with a gain backed by higher (near average) volume. Damaging deterioration below the recent low ($73.85 on 9/18/20) would raise greater concerns and trigger a more worrisome technical sell signal. Faces some near-term resistance due to overhead supply up to the $94 level. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Consolidating Just Above 50-Day Moving Average - 10/14/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
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News |
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C
A
S
I |
TER
-
NASDAQ
Teradyne Inc
ELECTRONICS - Semiconductor Equipment and Mate
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$92.00
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+1.06
1.17% |
$92.46
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1,161,744
50.42% of 50 DAV
50 DAV is 2,304,000
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$93.44
-1.54%
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10/21/2020
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$92.22
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PP = $93.54
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MB = $98.22
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Most Recent Note - 10/21/2020 5:57:03 PM
Y - Challenged its all-time high with today's 3rd consecutive gain backed by ever-increasing volume. A Subsequent gain above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Reported earnings +53% on +41% sales revenues for the Sep '20 quarter versus the year ago period, its 4th consecutive quarterly comparison with earnings above the +25% minimum earnings guideline (C criteria). Sequential comparisons show encouraging acceleration in its sales revenues growth rate. Its annual earnings (A criteria) history has been strong. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Challenging All-Time High With Volume-Drive Gain - 10/21/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
Request a new note
C
A
S
I |
TREX
-
NYSE
Trex Company Inc
MATERIALS and CONSTRUCTION - General Building Materials
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$76.64
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+1.30
1.73% |
$76.86
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500,451
63.35% of 50 DAV
50 DAV is 790,000
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$81.23
-5.65%
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6/26/2020
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$54.53
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PP = $66.47
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MB = $69.79
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Most Recent Note - 10/22/2020 5:36:22 PM
G - Halted its slide with a small gain today after a streak of 6 consecutive losses with below average volume. Any subsequent losses below the 50 DMA line ($72.95) or recent low ($63.32 on 9/21/20) would raise concerns and trigger technical sell signals. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Recently Wedged Into New High Territory - 10/16/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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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 |
NFLX
-
NASDAQ
Netflix Inc
SPECIALTY RETAIL - Music and Video Stores
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$488.28
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+3.05
0.63% |
$490.06
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4,760,130
77.58% of 50 DAV
50 DAV is 6,136,000
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$575.37
-15.14%
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10/14/2020
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$547.45
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PP = $557.39
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MB = $585.26
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Most Recent Note - 10/21/2020 12:18:32 PM
G - Reported earnings +18% on +23% sales revenues for the Sep '20 quarter, below the +25% minimum earnings guideline (C criteria). Gapped down today violating its 50 DMA line ($506) triggering a technical sell signal, and its color code was changed to green due to fundamental and technical deterioration. Recent low ($458.60 on 9/18/20) defines the next important near term support where any further deterioration would raise serious concerns and trigger a more worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure When Poised for Breakout - 10/15/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
LGIH
-
NASDAQ
L G I Homes Inc
Bldg-Resident/Comml
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$116.88
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+4.61
4.11% |
$117.23
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171,993
65.40% of 50 DAV
50 DAV is 263,000
|
$132.98
-12.11%
|
10/1/2020
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$123.17
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PP = $124.04
|
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MB = $130.24
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Most Recent Note - 10/23/2020 5:14:21 PM
Y - Color code is changed to yellow after it rebounded near its 50 DMA line ($116.74) with light volume today helping its outlook to improve after damaging volume-driven losses. Members were cautioned with a recent note - "Recent gains above the new pivot point lacked the +40% above average volume needed to clinch a proper new (or add-on) technical buy signal."
>>> FEATURED STOCK ARTICLE : Hovering Near High But Recent Gains Lacked Great Volume - 10/19/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
Chart |
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C
A
S
I |
NOW
-
NYSE
Servicenow Inc
Computer Sftwr-Enterprse
|
$514.01
|
+8.05
1.59% |
$514.23
|
670,650
49.02% of 50 DAV
50 DAV is 1,368,000
|
$533.37
-3.63%
|
8/20/2020
|
$453.34
|
PP = $454.79
|
|
MB = $477.53
|
Most Recent Note - 10/19/2020 1:52:30 PM
G - Posting a 3rd consecutive gain today with below average volume for yet another new all-time high. Found support at its 50 DMA line ($472) but did not form a new base of sufficient length. Fundamentals remain strong. Any losses below the 50 DMA line and prior low ($432.85 on 9/08/20) would raise concerns and trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Record High With Light Volume Behind 3rd Consecutive Gain - 10/13/2020 |
View all notes |
Set NEW NOTE alert |
Company Profile |
SEC
News |
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C
A
S
I |
VEEV
-
NYSE
Veeva Systems Inc Cl A
Computer Sftwr-Medical
|
$296.85
|
+6.10
2.10% |
$302.11
|
724,700
90.47% of 50 DAV
50 DAV is 801,000
|
$313.99
-5.46%
|
10/6/2020
|
$287.71
|
PP = $298.86
|
|
MB = $313.80
|
Most Recent Note - 10/22/2020 5:34:57 PM
Y - Slumping back below its pivot point with recent losses on lighter than average volume raising some concerns. The 50 DMA line ($278.58) defines important near-term support where a violation would trigger a technical sell signal. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : First Sound Base Being Built After Considerable Rally - 10/6/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$208.49
|
+5.41
2.66% |
$208.57
|
1,110,858
69.21% of 50 DAV
50 DAV is 1,605,000
|
$216.30
-3.61%
|
10/12/2020
|
$193.77
|
PP = $199.60
|
|
MB = $209.58
|
Most Recent Note - 10/22/2020 12:20:02 PM
Y - Color code is changed to yellow while pulling back from its 52-week highs and below its "max buy" level. Prior highs in the $199 area define initial support to watch above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : TEAM Perched Within Close Striking Distance of New Highs - 10/12/2020 |
View all notes |
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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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