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AFTER MARKET UPDATE - WEDNESDAY, FEBRUARY 19TH, 2020
Previous After Market Report Next After Market Report >>>
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DOW |
+115.84 |
29,348.03 |
+0.40% |
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Volume |
829,117,180 |
-10% |
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Volume |
2,457,785,010 |
+10% |
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NASDAQ |
+84.44 |
9,817.18 |
+0.87% |
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Advancers |
1,537 |
53% |
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Advancers |
1,912 |
60% |
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S&P 500 |
+15.86 |
3,386.15 |
+0.47% |
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Decliners |
1,336 |
46% |
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Decliners |
1,263 |
40% |
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Russell 2000 |
+9.05 |
1,692.57 |
+0.54% |
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52 Wk Highs |
252 |
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52 Wk Highs |
279 |
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S&P 600 |
+3.64 |
1,016.31 |
+0.36% |
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52 Wk Lows |
59 |
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52 Wk Lows |
59 |
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Leadership Improves as Major Indices Extended Record Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The S&P 500 rose 0.5%, while the Nasdaq Composite was up 0.9%, with both benchmarks closing at fresh all-time highs. The Dow climbed 115 points, snapping a three-session losing streak. Advancers led decliners by an 8-7 margin on the NYSE and by 3-2 on the Nasdaq exchange. The reported volume totals were mixed, lighter than the prior session total on the NYSE and higher on the Nasdaq exchange. There were 139 high-ranked companies from the Leaders List that hit a new 52-week high and were listed on the BreakOuts Page, versus 90 on the prior session. New 52-week highs totals again solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices' (M criteria) remain in a confirmed uptrend. Disciplined investors buy individual stocks on a case-by-case basis only if all key criteria are met. The Featured Stocks Page provides the most timely analysis on high-ranked leaders. Charts used courtesy of www.stockcharts.com
PICTURED: The S&P 500 Index hit another new all-time high.
Stocks finished higher on Wednesday. The coronavirus remained in focus, with China reporting a slowing number of newly confirmed cases. Signs of fiscal and monetary policy support from Beijing also lifted the mood.
Seven of 11 S&P 500 sectors closed in positive territory, with the more traditionally defensive Real Estate and Utilities groups lagging the most. Technology shares outperformed, with Apple (AAPL +1.45%) rising despite Monday’s warning that the coronavirus would likely result in a quarterly revenue miss. Elsewhere, Tesla (TSLA +6.88%) managed a best-ever close following another analyst price target increase.
The U.S. dollar jumped to the highest level in four months following solid real estate updates. Building permits spiked 9.2% in January to the highest level since March 2007, while housing starts declined by less than expected. Separately, producer prices rose 0.5% in January, the largest increase since October 2018. Treasuries were little changed, with the yield on the benchmark 10-year note steady at 1.56%. In commodities, WTI crude gained 2.4% to $53.29/barrel, while COMEX gold added 0.7% to $1,610.50/ounce, near a seven-year high.
In central bank news, the minutes of the Fed’s January policy meeting showed officials remained comfortable with the current monetary policy stance “for a time,” but continued to monitor lingering risks to the U.S. economic expansion. Additionally, a proposal was outlined in order to wind down ongoing repo and T-bill purchases after April. |
Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Tech, Retail, and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +1.08%) and the Broker/Dealer Index ($XBD +1.16%) both posted solid gains while the Retail Index ($RLX +0.40%) posted a smaller gain. The Semiconductor Index ($SOX +2.61%) led the tech sector higher while the Biotech Index ($BTK +0.90%) followed and the Networking Index ($NWX +0.19%) eked out a much smaller gain. Commodity-linked groups had a positive bias as the Oil Services Index ($OSX +1.08%), Integrated Oil Index ($XOI +1.75%), and Gold & Silver Index ($XAU +1.69%) rounded out the widely positive session.
PICTURED: The Semiconductor Index ($SOX +2.61%) is perched at its record high after posting a solid gain.
| Oil Services |
$OSX |
64.55 |
+0.69 |
+1.08% |
-17.55% |
| Integrated Oil |
$XOI |
1,135.92 |
+19.50 |
+1.75% |
-10.60% |
| Semiconductor |
$SOX |
1,979.50 |
+50.38 |
+2.61% |
+7.02% |
| Networking |
$NWX |
560.96 |
+1.08 |
+0.19% |
-3.85% |
| Broker/Dealer |
$XBD |
305.32 |
+3.51 |
+1.16% |
+5.14% |
| Retail |
$RLX |
2,687.42 |
+10.64 |
+0.40% |
+9.72% |
| Gold & Silver |
$XAU |
107.74 |
+1.79 |
+1.69% |
+0.77% |
| Bank |
$BKX |
108.89 |
+1.17 |
+1.09% |
-3.94% |
| Biotech |
$BTK |
5,308.49 |
+47.16 |
+0.90% |
+4.76% |
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Perched at Record High After 7th Consecutive Gain
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Splunk Inc (SPLK +$1.29 or +0.75% to $174.17) posted a 7th consecutive gain on light volume today for a new all-time high. It is extended from the previously noted base. Its 50-day moving average (DMA) line ($156) defines important support to watch on pullbacks.
SPLK was last shown in this FSU section on 1/29/20 with an annotated graph under the headline, "Volume Totals Cooling While Hovering Near All-Time High" . The number of top-rated funds owning its shares rose from 748 in Jun '17 to 1,225 in Dec '19, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. Its Timeliness Rating is A and Sponsorship Rating is B.
Fundamentals remain strong. Bullish action came as it gapped up on 11/22/19 after reporting earnings +53% on +30% sales revenues versus the year ago period ended October 31st. Quarterly comparisons have been above the +25% minimum guideline (C criteria). Annual earnings history has been strong. The high-ranked Computer Software - Database firm has earned an 99 earnings Per Share Rating, well above the 80+ minimum guideline for buy candidates. Its annual earnings (A criteria) history has been strong since reaching profitability in FY '15.
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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 |
FTNT
-
NASDAQ
Fortinet Inc
Computer Sftwr-Security
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$119.20
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-0.25
-0.21% |
$120.87
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699,975
61.13% of 50 DAV
50 DAV is 1,145,000
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$121.82
-2.15%
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12/9/2019
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$103.85
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PP = $106.10
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MB = $111.41
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Most Recent Note - 2/19/2020 2:52:04 PM
G - It is extended from any sound base and the 50 DMA line ($113) and prior low ($112.06) define important near-term support to watch. Reported earnings +29% on +21% sales revenues for the Dec '19 quarter, continuing its strong earnings track record above the +25% minimum guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Fortinet Posted Gain for Best-Ever Close - 2/4/2020 |
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C
A
S
I |
SPSC
-
NASDAQ
S P S Commerce Inc
COMPUTER SOFTWARE and SERVICES - Application Software
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$59.50
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-1.48
-2.43% |
$60.95
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291,016
173.95% of 50 DAV
50 DAV is 167,300
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$62.26
-4.43%
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11/29/2019
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$56.59
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PP = $59.24
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MB = $62.20
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Most Recent Note - 2/19/2020 2:57:11 PM
Y - Pulling back today following 4 consecutive gains for new all-time highs. Volume-driven gains above its pivot point triggered a new technical buy signal. Reported earnings +30% on +12% sales revenues for the Dec '19 quarter versus the year ago period. Found support near its 50 DMA line ($57) during its recent consolidation. Its current Relative Strength Rating of 77 is below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Perched Near High Finding Support at 50-Day Average - 2/3/2020 |
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C
A
S
I |
AUDC
-
NASDAQ
Audiocodes Ltd
ELECTRONICS - Scientific and Technical Instrum
|
$23.94
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+0.55
2.35% |
$24.22
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170,516
48.86% of 50 DAV
50 DAV is 349,000
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$28.73
-16.67%
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9/13/2019
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$19.68
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PP = $19.84
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MB = $20.83
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Most Recent Note - 2/14/2020 5:25:30 PM
G - Met resistance today after rebounding near its 50 DMA line ($24.94). That short-term average may act as resistance after damaging volume-driven losses triggered technical sell signals. Fundamentals remain strong after it reported earnings +30% on +15% sales revenues for the Dec '19 quarter. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Rebounding After Damaging Losses Triggered Sell Signals - 2/14/2020 |
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C
A
S
I |
CHDN
-
NASDAQ
Churchill Downs Inc
LEISURE - Gaming Activities
|
$164.37
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+0.16
0.10% |
$167.53
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175,014
88.39% of 50 DAV
50 DAV is 198,000
|
$163.63
0.45%
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10/8/2019
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$129.77
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PP = $132.83
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MB = $139.47
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Most Recent Note - 2/18/2020 12:16:54 PM
G - Perched at its 52-week high following a streak of gains. Its 50 DMA line ($141.79) defines near-term support above the prior low ($132.55 on 1/03/19) The Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria) and raised fundamental concerns.
>>> FEATURED STOCK ARTICLE : Perched at New Record High After Recent Gains on Average Volume - 2/7/2020 |
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C
A
S
I |
LULU
-
NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing
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$262.51
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+3.28
1.27% |
$263.50
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900,035
48.78% of 50 DAV
50 DAV is 1,845,000
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$256.80
2.22%
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9/6/2019
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$201.25
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PP = $194.35
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MB = $204.07
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Most Recent Note - 2/18/2020 5:21:44 PM
G - Extended from any sound base and it hit yet another new all-time high with today's gain backed by light volume. Its 50 DMA line ($237.81) and prior low ($231.84 on 1/27/20) define important near-term support to watch. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Hovering Near All-Time High - 1/30/2020 |
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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 |
CPRT
-
NASDAQ
Copart Inc
SPECIALTY RETAIL - Auto Dealerships
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$104.50
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+2.08
2.03% |
$104.88
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1,641,308
103.88% of 50 DAV
50 DAV is 1,580,000
|
$104.10
0.38%
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1/2/2020
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$92.80
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PP = $92.51
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MB = $97.14
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Most Recent Note - 2/18/2020 5:18:32 PM
G - Due to report earning news after the close on Wednesday. Touched a new all-time high today but reversed into the red. Stubbornly holding its ground, extended from any sound base. Its 50 DMA line ($95.71) defines near-term support above prior highs in the $91-92 area. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched at Record High With Earnings News Due - 2/18/2020 |
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C
A
S
I |
SPLK
-
NASDAQ
Splunk Inc
Computer Sftwr-Database
|
$174.17
|
+1.29
0.75% |
$176.31
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1,051,601
70.15% of 50 DAV
50 DAV is 1,499,000
|
$173.84
0.19%
|
11/25/2019
|
$147.79
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PP = $142.16
|
|
MB = $149.27
|
Most Recent Note - 2/19/2020 5:31:26 PM
G - Posted a 7th consecutive gain on light volume today for a new all-time high. It is extended from the previously noted base. Its 50 DMA line ($156) defines important support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Perched at Record High After 7th Consecutive Gain - 2/19/2020 |
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C
A
S
I |
PAYC
-
NYSE
Paycom Software Inc
COMPUTER SOFTWARE and SERVICES - Application Software
|
$324.48
|
+6.32
1.99% |
$325.99
|
857,223
97.63% of 50 DAV
50 DAV is 878,000
|
$342.00
-5.12%
|
11/20/2019
|
$252.97
|
PP = $259.81
|
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MB = $272.80
|
Most Recent Note - 2/14/2020 5:27:50 PM
G - Posted a 3rd consecutive gain, rebounding after an abrupt retreat near its 50 DMA line ($286.64) and prior high ($279.95 on 11/27/19). More damaging losses would raise concerns and trigger a technical sell signal. Fundamentals remain strong after it reported earnings +41% on +29% for the Dec '19 quarter.
>>> FEATURED STOCK ARTICLE : Pulled Back Near 50-Day Average Following Strong Earnings Report - 2/11/2020 |
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C
A
S
I |
BLD
-
NYSE
Topbuild Corp
Bldg-Constr Prds/Misc
|
$123.43
|
+2.80
2.32% |
$125.66
|
401,389
142.84% of 50 DAV
50 DAV is 281,000
|
$120.71
2.25%
|
12/9/2019
|
$109.71
|
PP = $113.84
|
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MB = $119.53
|
Most Recent Note - 2/19/2020 3:00:03 PM
G - Hitting another new 52-week high today rallying further above its "max buy" level. Prior high ($113.74) defines near-term support above its 50 DMA line ($110).
>>> FEATURED STOCK ARTICLE : Volume Totals Cooling While Consolidating Near All-Time High - 2/6/2020 |
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C
A
S
I |
TEAM
-
NASDAQ
Atlassian Corp Plc Cl A
Comp Sftwr-Spec Enterprs
|
$152.05
|
-1.83
-1.19% |
$156.12
|
1,999,987
130.38% of 50 DAV
50 DAV is 1,534,000
|
$155.00
-1.90%
|
1/24/2020
|
$144.66
|
PP = $140.49
|
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MB = $147.51
|
Most Recent Note - 2/18/2020 5:26:54 PM
G - Extended from the prior base and perched above its "max buy" level. Rallied from a cup-with-handle base pattern with volume +514% above average behind the considerable gain on 1/24/20 triggering a technical buy signal. Bullish action came after it reported earnings +48% on +37% sales revenues for the Dec '19 quarter.
>>> FEATURED STOCK ARTICLE : Atlassian Has Been Hovering Near its All-Time High - 2/12/2020 |
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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 |
GLOB
-
NYSE
Globant SA
Computer-Tech Services
|
$129.17
|
+0.56
0.44% |
$130.20
|
266,249
111.40% of 50 DAV
50 DAV is 239,000
|
$131.00
-1.40%
|
11/14/2019
|
$106.87
|
PP = $112.43
|
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MB = $118.05
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Most Recent Note - 2/19/2020 2:53:57 PM
G - Due to report earnings news. Perched near its all-time high, extended from any sound base. Its prior high ($112.33) and 50 DMA line ($114.84) define important near-term support to watch.
>>> FEATURED STOCK ARTICLE : Encountering Distributional Pressure After Wedging to New Highs - 2/5/2020 |
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C
A
S
I |
STNE
-
NASDAQ
Stoneco Ltd Cl A
Finance-CrdtCard/PmtPr
|
$44.31
|
+2.49
5.95% |
$44.70
|
3,028,617
178.68% of 50 DAV
50 DAV is 1,695,000
|
$45.72
-3.08%
|
1/22/2020
|
$43.94
|
PP = $45.72
|
|
MB = $48.01
|
Most Recent Note - 2/19/2020 2:58:57 PM
Y - Posting a 5th gain in the span of 6 sessions. Recently found support near its 50 DMA line ($41). Subsequent gains above the pivot point backed by at least +40% above average volume are needed to trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : 50-Day Moving Average Line Violation Hurts Outlook - 2/10/2020 |
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C
A
S
I |
DAVA
-
NYSE
Endava Plc Cl A Ads
Computer-Tech Services
|
$55.23
|
+1.84
3.45% |
$55.41
|
166,875
158.93% of 50 DAV
50 DAV is 105,000
|
$55.50
-0.49%
|
2/13/2020
|
$53.71
|
PP = $49.86
|
|
MB = $52.35
|
Most Recent Note - 2/19/2020 5:37:09 PM
G - Posted a solid gain today for a best-ever close above its "max buy" level and its color code is changed to green. Prior highs in the $49 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Breakout Gain Backed By +462% Above Average Volme - 2/13/2020 |
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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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