Mid-Day Breakouts Report - Thursday, May 23rd, 2024

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MIDDAY BREAKOUTS REPORT - THURSDAY, MAY 23RD, 2024
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DOW 39422.77 -248.27 (-0.63%) | NASDAQ 16935.27 133.73 (0.80%) | S&P 500 5319.85 12.84 (0.24%)

Time of Screening : 5/23/2024 12:47:22 PM Report Released : 5/23/2024 1:31:29 PM
Price is: Above 52W High and Less Than 52W High but within 15% of the 52 Week High
Volume Is: At least 75% of 50 Day Average at the time of the screening.
More details about this report...

To View Current Notes and Data on currently Featured Stocks go to the latest
Featured Stocks Page

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
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (50 DAV)	52 Wk Hi % From Hi	Date Featured	Price Featured	Max Buy
CLS - NYSE Celestica Inc	$57.02	+3.14 5.83%	$57.13	1,807,390 80.90% of 50 DAV 50 DAV is 2,234,000	$54.28 5.05%	5/15/2024	$51.52	PP = $51.22 MB = $53.78
Most Recent Note - 5/23/2024 12:59:33 PM G - Gapped up again today for yet another new all-time high, getting extended from any sound base. Color code was changed to green after rising above its "max buy" level. On pullbacks prior highs in the $51 area define initial support to watch above its 50 DMA line ($46.69). >>> The latest Featured Stock Update with an annotated graph appeared on 5/15/2024. Click here.
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Symbol - Exchange - Industry Group Company Name	Last	Chg	Day High	52 WK Hi	% From Hi	Volume % DAV	DAV
ANET - NYSE - Computer-Networking Arista Networks, Inc	$303.72	-12.78 -4.04%	$306.07	$329.04	-7.70%	3,934,788 147.04%	2,676,000
Most Recent Note for ANET - 5/23/2024 12:50:32 PM Retreating from its 52-week high with today's 6th consecutive loss, undercutting the prior high ($307) after rising from a deep "V" shaped base in prior weeks. Faces no resistance due to overhead supply. It stayed well above its 200 DMA line and showed resilience since dropped from the Featured Stocks list on 4/17/24. Fundamentals remained strong through the Mar '24 quarter.
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AX - NYSE - Finance-Savings & Loan Axos Financial Inc	$58.77	-1.84 -3.04%	$60.78	$63.00	-6.71%	554,942 121.97%	455,000
Most Recent Note for AX - 5/23/2024 12:52:55 PM Volume is above average today while retreating from its all-time high hit last week. Two of the 3 latest quarterly comparisons through Mar '24 showed earnings increases below the +25% minimum earnings guideline (C criteria). Annual earnings growth has been strong and steady.
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BJ - NYSE - Retail-Discount&Variety BJs Wholesale Club Hldgs	$82.14	+1.65 2.05%	$85.11	$81.19	1.17%	1,384,787 86.01%	1,610,000
Most Recent Note for BJ - 5/23/2024 12:55:39 PM Today's 2nd consecutive volume-driven gain has it hitting a new all-time high. Reported Apr '24 quarterly earnings +0% on +4% sales revenues versus the year ago period. Earnings increases were below the +25% minimum (C criteria) in prior quarterly comparisons versus the year ago periods. Annual earnings (A criteria) growth was strong until FY '24 was flat versus '23.
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BMA - NYSE - BANKING - Foreign Regional Banks Banco Macro Sa Ads	$58.01	-2.67 -4.40%	$61.50	$67.43	-13.97%	373,747 88.99%	420,000
Most Recent Note for BMA - 5/23/2024 12:58:30 PM Retreating from its 52-week high with today's 3rd consecutive volume-driven loss. Reported earnings +77% on -87% sales revenues for the Mar '24 quarter versus the year-ago period and fundamental concerns remain. Argentine bank has shown strong annual earnings (A criteria) growth after a slight downturn in FY '20 and '21.
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CSWI - NASDAQ - Chemicals-Specialty C S W Industrials Inc	$258.97	+11.44 4.62%	$261.31	$252.14	2.71%	65,315 80.64%	81,000
Most Recent Note for CSWI - 5/23/2024 1:00:54 PM Hitting a new all-time high today, extended from any sound base. Reported earnings +17% on +8% sales revenues for the Mar '24 quarter versus the year ago period, and prior quarterly comparisons were below the +25% minimum guideline (C criteria). Annual earnings history (A criteria) and sales revenues growth rate has been steady.
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DY - NYSE - MATERIALS & CONSTRUCTION - Heavy Construction Dycom Inds Inc	$174.68	+7.54 4.51%	$175.31	$170.39	2.52%	186,708 80.13%	233,000
Most Recent Note for DY - 5/23/2024 1:01:44 PM Gapped up again today powering to new all-time highs with a 5th consecutiev volume-driven gain. Reported Apr '24 quarterly earnings +17% on +9% sales revenues versus the year-ago period. Fundamental concerns remain due to erratic quarterly and annual earnings (C and A criteria) earnings history.
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ENV - NYSE - FINANCIAL SERVICES - Diversified Investments Envestnet Inc	$69.80	+3.67 5.54%	$73.04	$68.83	1.40%	546,104 101.32%	539,000
Most Recent Note for ENV - 5/23/2024 1:03:30 PM Hitting a new 52-week high with today's big volume-driven gain. Reported earnings +30% on +9% sales revenues for the Mar '24 quarter, its 3rd quarterly comparison above or very near the +25% minimum earnings guideline (C criteria). Annual earnings history has been erratic. It went through a long and choppy consolidation since dropped from the Featured Stocks list on 8/08/19.
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ESEA - NASDAQ - TRANSPORTATION - Shipping Euroseas Ltd	$35.98	-0.78 -2.12%	$36.56	$42.29	-14.92%	54,296 201.10%	27,000
Most Recent Note for ESEA - 5/23/2024 1:06:31 PM On track today for a 2nd consecutive volume-driven loss, it gapped down and undercut its 50 DMA line ($35.74) then rebounded from early lows. Reported Mar '24 quarterly earnings -14% on +11% sales revenues versus the year-ago period. Prior earnings and sales revenues growth history has been below the fundamental guidelines of the fact-based investment system.
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FLEX - NASDAQ - Elec-Contract Mfg Flex Ltd	$32.30	+0.93 2.96%	$32.45	$31.39	2.90%	4,965,316 121.31%	4,093,000
Most Recent Note for FLEX - 5/23/2024 1:07:45 PM Hitting new multi-year highs with today's 2nd consecutive volume-driven gain. The 5/02/24 mid-day report noted - "Reported Mar '24 quarterly earnings +30% on -12% sales revenues versus the year-ago period and fundamental concerns remain. Quarterly earnings (C criteria) history is not a match with the fact-based investment system's guidelines."
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FLXS - NASDAQ - CONSUMER DURABLES - Home Furnishings & Fixtures Flexsteel Industries Inc	$35.72	-0.50 -1.37%	$36.07	$41.64	-14.23%	25,170 114.41%	22,000
Most Recent Note for FLXS - 5/23/2024 1:09:12 PM Reported +130% earnings on +8% sales for the Mar '24 quarter but fundamental concerns remain. Quarterly and annual earnings and sales revenues growth history is not a match with the fact-based investment system guidelines.
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FUTU - NASDAQ - Finance-Invest Bnk/Bkrs Futu Holdings Cl A Ads	$74.34	-2.25 -2.94%	$76.23	$81.86	-9.19%	1,356,692 81.39%	1,667,000
Most Recent Note for FUTU - 5/23/2024 1:11:58 PM Pulling back quietly this week after hitting new multi-year highs with volume-driven gains. Retreating toward its Dec '22 high ($72.20) which defines initial support to watch. Found impressive support near its 50 and 200 DMA lines in recent weeks. Due to report Mar '24 quarterly results on 5/28/24. Volume and volatility often increase near earnings news. Reported Dec '23 quarterly earnings -5% on +4% sales revenues versus the year ago period, below (C criteria) the +25% minimum earnings guideline. Annual earnings (A criteria) growth has been strong. China-based Financial firm completed a new Public Offering on 8/18/20. Completed its $12 IPO on 3/08/19.
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GASS - NASDAQ - Transportation-Ship Stealthgas Inc	$7.18	+0.32 4.66%	$7.19	$7.98	-10.03%	87,362 78.70%	111,000
Most Recent Note for GASS - 5/23/2024 1:13:12 PM Consolidating this week after making steady progress toward the prior high since finding support at its 200 DMA line. Prior mid-day reports cautioned members - "Fundamental concerns remain due to its erratic sales revenues and earnings history."
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NVDA - NASDAQ - ELECTRONICS - Semiconductor - Specialized Nvidia Corp	$1,048.94	+99.44 10.47%	$1,051.96	$974.00	7.69%	45,699,067 99.34%	46,002,000
Most Recent Note for NVDA - 5/23/2024 1:18:13 PM Gapped up today hitting a new all-time high clearing an 11-week "V" shaped consolidation. Reported Apr '24 quarterly earnings +461% on +262% sales revenues versus the year ago period, its 4th very strong quarter after 3 quarterly comparisons down from the year-ago periods. Annual earnings (A criteria) history has been up and down, noted as a flaw with regard to the fact-based investment system's guidelines. Completed the Mellanox Technologies (MLNX) acquisition on 4/27/20.
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NWPX - NASDAQ - METALS & MINING - Steel & Iron Northwest Pipe Company	$34.40	-0.80 -2.27%	$34.94	$36.92	-6.83%	33,601 80.00%	42,000
Most Recent Note for NWPX - 5/23/2024 1:20:15 PM Reported Mar '24 quarterly earnings +126% on +14% sales revenues versus the year ago period. Prior 4 quarterly earnings comparisons were down from the year-ago periods, not above the +25% minimum earnings guideline (C criteria). Fundamental concerns remain after a downturn in FY '20 and '21 annual earnings (A criteria), not a match with the fact-based investment system's guidelines.
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PH - NYSE - MANUFACTURING - Industrial Equipment & Compone Parker-Hannifin Corp	$534.20	-11.87 -2.17%	$548.62	$570.15	-6.31%	448,866 76.73%	585,000
Most Recent Note for PH - 5/23/2024 1:21:49 PM Slumping further below its 50 DMA line ($548) with today's 3rd consecutive loss. Last noted with caution in the 5/02/24 mid-day report - "Reported Mar '24 quarterly earnings +10% on +0% sales revenues versus the year-ago period. This giant machinery firm's prior quarterly comparisons were not strong and steady above the +25% minimum guideline (C criteria). Annual earnings history (A criteria) has been strong and steady."
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QCOM - NASDAQ - TELECOMMUNICATIONS - Communication Equipment Qualcomm Inc	$204.60	+1.67 0.82%	$207.95	$204.84	-0.12%	7,036,155 88.83%	7,921,000
Most Recent Note for QCOM - 5/23/2024 1:23:14 PM Hit yet another new 52-week high today but reversed into the red following 4 consecutive gains marked by volume. The 5/21/24 mid-day report noted - "Reported Mar '24 quarterly earnings +12% on +1% sales revenues versus the year ago period. Prior quarterly earnings increases were below the fact-based investment system's +25% earnings guideline. Annual earnings (A criteria) history has been up and down."
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TRNS - NASDAQ - ELECTRONICS - Scientific & Technical Instrum Transcat Inc	$136.40	-5.78 -4.07%	$143.27	$147.00	-7.21%	34,878 85.07%	41,000
Most Recent Note for TRNS - 5/23/2024 1:28:16 PM Powered to new all-time highs with an impressive streak of 8 consecutive gains marked by volume. Prior mid-day reports cautioned members - "Reported earnings +10% on +14% sales revenues for the Mar '24 quarter versus the year ago period. Prior quarterly comparisons were not strong and steady above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) growth has been up and down in recent years."
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VLGEA - NASDAQ - RETAIL - Grocery Stores Village Super Market A	$30.01	+0.03 0.10%	$30.10	$31.00	-3.19%	20,266 96.50%	21,000
Most Recent Note for VLGEA - 5/23/2024 1:31:24 PM Pulled back from its 52-week high toward the prior high in the $29 area which defines initial support to watch. The 5/15/24 mid-day report last noted - "Reported Jan '24 quarterly earnings +14% on +2% sales revenues versus the year-ago period. Sub par sales revenues growth and lackluster annual earnings (A criteria) growth history remain concerns, fundamentally. Small supply of only 6.3 million shares in its trading float can contribute to greater price volatility."
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