Mid-Day Breakouts Report - Thursday, October 12th, 2023

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MIDDAY BREAKOUTS REPORT - THURSDAY, OCTOBER 12TH, 2023
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DOW 33778.33 -26.54 (-0.08%) | NASDAQ 13694.38 34.7 (0.25%) | S&P 500 4379.61 2.66 (0.06%)

Time of Screening : 10/12/2023 12:19:02 PM Report Released : 10/12/2023 12:52:10 PM
Price is: Above 52W High and Less Than 52W High but within 15% of the 52 Week High
Volume Is: At least 57.5% 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

NONE OF OUR FEATURED STOCKS MET TODAY'S SCREENING CRITERIA FOR VOLUME AND PRICE ACTION.

Symbol - Exchange - Industry Group Company Name	Last	Chg	Day High	52 WK Hi	% From Hi	Volume % DAV	DAV
ADBE - NASDAQ - COMPUTER SOFTWARE & SERVICES - Application Software Adobe Systems Inc	$569.36	+19.45 3.54%	$574.40	$570.24	-0.15%	2,410,565 92.89%	2,595,000
Most Recent Note for ADBE - 10/12/2023 12:24:16 PM Hitting a new 52-week high with today's 5th consecutive gain. Still faces resistance due to overhead supply up to the $699 level. Reported Aug '23 quarterly earnings +20% on +10% sales revenues versus the year ago period. Prior quarterly comparisons also were below the +25% minimum earnings guideline (C criteria).
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AMAT - NASDAQ - ELECTRONICS - Semiconductor Equipment & Mate Applied Materials Inc	$147.19	+5.01 3.52%	$148.40	$155.26	-5.20%	3,306,299 62.82%	5,263,000
Most Recent Note for AMAT - 10/12/2023 12:26:05 PM Rebounding above its 50 DMA line ($143) with today's gain. Last noted with caution in the 9/15/23 mid-day report - "Reported earnings -2% on -1% sales revenues for the Jul '23 quarter, its 6th consecutive quarterly earnings comparison below the +25% minimum (C criteria). Annual earnings (A criteria) history included a downturn in FY '19. There is a large supply of 839.7 million shares outstanding (S criteria) and as of Jun '23 it is owned by 3,736 top-rated mutual funds (I criteria)."
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AVGO - NASDAQ - ELECTRONICS - Semiconductor - Integrated Circuits Broadcom Inc	$913.55	+38.99 4.46%	$915.86	$923.67	-1.10%	1,811,868 83.00%	2,183,000
Most Recent Note for AVGO - 10/12/2023 12:28:11 PM Rallying near its 52-week high with today's 7th consecutive gain. Reported earnings +8% on +5% sales revenues for the Jul '23 quarter versus the year ago period, its 3rd subpar quarter. Prior quarterly comparisons were above the +25% minimum guideline (C criteria). Annual earnings history (A criteria) has been strong.
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BSY - NASDAQ - Computer Sftwr-Enterprse Bentley Systems Class B	$53.72	+0.01 0.02%	$53.99	$55.37	-2.98%	681,962 70.74%	964,000
Most Recent Note for BSY - 10/12/2023 12:30:39 PM Perched within striking distance of its 52-week high. Reported Jun '23 quarterly earnings +4% on +11% sales revenues versus the year ago period. Fundamental concerns remain as prior quarterly results were subpar.
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CAMT - NASDAQ - ELECTRONICS - Scientific & Technical Instrum Camtek Ltd	$63.76	+3.89 6.50%	$64.64	$65.13	-2.10%	368,098 76.37%	482,000
Most Recent Note for CAMT - 10/12/2023 12:31:52 PM Perched near its 52-week high with today's 3rd consecutive gain. Recently consolidating above its 50 DMA line. Noted with caution in prior mid-day reports - "Fundamental concerns remain after it reported Jun '23 quarterly earnings -2% on -7% sales revenues versus the year ago period."
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CNM - NYSE - Bldg-Constr Prds/Misc Core & Main Inc Cl A	$31.91	+0.73 2.34%	$32.04	$33.32	-4.23%	1,239,939 75.15%	1,650,000
Most Recent Note for CNM - 10/12/2023 12:33:42 PM Rebounding further above its 50 DMA line toward its 52-week high with today's 5th consecutive gain. Reported Jul '23 quarterly earnings -1% on +0% sales revenues versus the year-ago period, its 3rd subpar quarter. Prior quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Limited history is a concern since its $20 IPO on 7/23/21.
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CRH - NYSE - Bldg-Cement/Concrt/Ag C R H Plc Adr	$58.86	-0.36 -0.61%	$59.42	$60.00	-1.90%	1,598,525 89.91%	1,778,000
Most Recent Note for CRH - 10/12/2023 12:35:20 PM Rebounded above its 50 DMA line ($56.25) and after 6 consecutive volume-driven gains it is perched within close striking distance of its 52-week and all-time highs. Irish Building - Cement firm has an erratic earnings (C and A criteria) history. Fundamental concerns remain.
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GWW - NYSE - WHOLESALE - Electronics Wholesale Grainger W W Inc	$742.16	+27.87 3.90%	$744.80	$811.60	-8.56%	163,793 73.12%	224,000
Most Recent Note for GWW - 10/12/2023 12:38:46 PM Rebounding from support at its 200 DMA line in recent weeks. Faces resistance due to overhead supply up to the $811 level. Reported earnings +29% for the quarter ended June 30, 2023 versus the year-ago period marking its 8th consecutive quarterly comparison well above the minimum +25% earnings guideline (C criteria). The annual earnings history for this Retail/Wholesale Building Prds firm included a downturn in FY '20, a common flaw in this post-pandemic era with respect to the A criteria of the fact-based investment system's guidelines.
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IHG - NYSE - LEISURE - Lodging Intercontinental Hotels	$74.78	-0.50 -0.66%	$74.99	$79.41	-5.83%	251,489 145.37%	173,000
Most Recent Note for IHG - 10/12/2023 12:39:34 PM Still sputtering below its 50 DMA line ($75.86) which has acted as resistance following recent volume-driven losses. Reported earnings +50% on +24% sales revenues for the quarter ended June 30th, 2023 versus the year ago period and prior quarterly comparisons were well above the +25% minimum earnings guideline (C criteria). Annual earnings history (A criteria) included a big downturn in FY '20.
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NVO - NYSE - DRUGS - Drug Manufacturers - Other Novo Nordisk A/S Adr	$100.71	+1.87 1.89%	$102.07	$100.88	-0.17%	6,393,548 143.51%	4,455,000
Most Recent Note for NVO - 10/12/2023 12:40:28 PM This Denmark-based Medical - Ethical Drugs firm gapped up again today hitting a new all-time high. Found suport after briefly undercutting its 50 DMA line when noted with caution in the 10/03/23 mid-day report - "Shares split 2-1 on 9/20/23. Reported Jun '23 quarterly earnings +53% on +37% sales revenues versus the year-ago period, its 2nd strong quarter. Fundamental concerns remain. Prior quarterly comparisons were below the +25% minimum earnings guideline (C criteria)."
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STVN - NYSE - Medical-Services Stevanato Group S P A	$34.85	+0.96 2.82%	$35.22	$36.30	-4.01%	201,642 63.61%	317,000
Most Recent Note for STVN - 10/12/2023 12:43:32 PM Challenging its all-time high with today's gain adding to an impressive spurt of gains while rebounding from support at its 200 DMA line. Reported Jun '23 quarterly earnings +21% on +13% sales revenues versus the year-ago period. Prior quarterly comparisons were not strong and steady above the +25% minimum earnings guideline (C criteria).
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TEAM - NASDAQ - Comp Sftwr-Spec Enterprs Atlassian Corp Plc	$190.30	-9.15 -4.59%	$193.29	$215.77	-11.80%	1,245,692 95.16%	1,309,000
Most Recent Note for TEAM - 10/12/2023 12:47:54 PM Gapped down today violating its 50 DMA line ($197). Reported improved results for the Mar and Jun '23 quarters versus the year-ago periods but fundamental concerns remain. Went through a deep consolidation since 3/03/21 when it was dropped from the Featured Stocks list.
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VMW - NYSE - COMPUTER SOFTWARE & SERVICES - Technical & System Software Vmware Inc Cl A	$179.79	+8.31 4.85%	$180.12	$176.20	2.04%	2,374,497 140.34%	1,692,000
Most Recent Note for VMW - 10/12/2023 12:49:49 PM Hitting a new 52-week high with above average volume behind today's big 5th consecutive gain after an orderly consolidation above its 50 DMA line. Reported earnings +12% on +2% sales for the Jul '23 quarter versus the year-ago period. Prior quarters were not strong and steady above the +25% minimum guideline (C criteria). It was dropped from the Featured Stocks list on 5/14/12.
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WTS - NYSE - MANUFACTURING - Industrial Equipment & Compone Watts Water Technologies	$180.50	+0.37 0.21%	$180.67	$192.93	-6.44%	60,772 62.01%	98,000
Most Recent Note for WTS - 10/12/2023 12:52:03 PM Found support at its 200 DMA line and it is rebounding above its 50 DMA line with today's gain. Faces near-term resistance due to overhead supply up to the $192 level. Fundamental concerns remain as when noted with caution in the 7/28/21 mid-day report - "Prior quarterly comparisons showed sub par results and its annual earnings (A criteria) history has not been strong and steady."
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