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AFTER MARKET UPDATE - WEDNESDAY, NOVEMBER 13TH, 2024
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DOW |
+47.21 |
43,958.19 |
+0.11% |
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Volume |
968,804,833 |
-1% |
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Volume |
9,757,930,300 |
+24% |
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NASDAQ |
-50.66 |
19,230.74 |
-0.26% |
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Advancers |
1,071 |
40% |
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Advancers |
1,458 |
34% |
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S&P 500 |
+1.39 |
5,985.38 |
+0.02% |
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Decliners |
1,621 |
60% |
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Decliners |
2,794 |
66% |
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Russell 2000 |
-22.47 |
2,369.37 |
-0.94% |
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52 Wk Highs |
186 |
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52 Wk Highs |
270 |
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S&P 600 |
-12.34 |
1,495.48 |
-0.82% |
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52 Wk Lows |
69 |
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52 Wk Lows |
184 |
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Breadth Negative as Major Indices Were Mixed
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The market had a mixed showing on Wednesday. Volume totals reported were mixed, slightly lower than the prior session total on the NYSE and higher on the Nasdaq exchange. Breadth was negative as decliners led advancers by an 8-5 margin on the NYSE and almost a 2-1 margin on the Nasdaq exchange. There were 85 high-ranked companies from the Leaders List that hit new 52-week highs and were listed on the BreakOuts Page, matching the total of 85 on the prior session. New 52-week highs totals still solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. The major indices are in a confirmed uptrend (M criteria). Disciplined investors know that new buying efforts are only to be made in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The S&P 500 Index posted a small gain, consolidating near its all-time high.
The October Consumer Price Index.was released with Total CPI up +2.6% year-over-year, versus +2.4% in September. Core CPI was up +3.3% year-over-year, unchanged from September, stoking worries about inflation persisting above the Fed's 2.0% target.
The 10-yr yield settled two basis points higher at 4.45%. The 2-yr yield settled four basis points lower at 4.28%. Rate cut expectations increased slightly in response to the CPI print. The fed funds futures market now sees a 82.3% probability of a 25 basis points rate cut at the December FOMC meeting, up form 58.7% yesterday, according to the CME FedWatch tool.
Semiconductor stocks were a pocket of weakness. This S&P 500 information technology sector fell -0.3% despite gains in Microsoft (MSFT +0.51%) and Apple (AAPL +0.40%).
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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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Retail and Integrated Oil Indexes Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Retail Index ($RLX +1.99%) posted an influential gain while the Bank Index ($BKX -0.05%) was unchanged and the Broker/Dealer Index ($XBD -1.04%) fell on Wednesday. The tech sector had a negative bias as the Semiconductor Index ($SOX -2.00%) outpaced the Networking Index ($NWX -0.89%) to the downside, meanwhile the Biotech Index ($BTK +0.09%) was unchanged. The Gold & Silver Index ($XAU -1.47%) and the Oil Services Index ($OSX -1.57%) both lost ground while the Integrated Oil Index ($XOI +1.42%) rose.
PICTURED: The Gold & Silver Index ($XAU -1.47%) has slumped -18.4% from its October 22, 2024 high.
| Oil Services |
$OSX |
78.46 |
-1.25 |
-1.57% |
-6.46% |
| Integrated Oil |
$XOI |
1,937.02 |
+27.14 |
+1.42% |
+4.00% |
| Semiconductor |
$SOX |
5,006.29 |
-102.34 |
-2.00% |
+19.90% |
| Networking |
$NWX |
1,196.70 |
-10.71 |
-0.89% |
+43.69% |
| Broker/Dealer |
$XBD |
826.18 |
-8.66 |
-1.04% |
+48.25% |
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$RLX |
5,121.70 |
+99.80 |
+1.99% |
+31.70% |
| Gold & Silver |
$XAU |
143.42 |
-2.14 |
-1.47% |
+14.11% |
| Bank |
$BKX |
134.05 |
-0.07 |
-0.05% |
+39.61% |
| Biotech |
$BTK |
6,022.96 |
+5.54 |
+0.09% |
+11.15% |
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Pulling Back After Considerable Rally
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Celestica (CLS -$2.01 or -2.39% to $82.05) pulled back for a 3rd consecutive loss backed by average volume after a "negative reversal" at its all-time high. It is extended from any sound base after a noted spurt of volume-driven gains. Prior highs in the $63 area define initial support to watch above its 50-day moving average (DMA) line ($59.12).
CLS was highlighted in yellow in the 10/11/24 mid-day report (read here) with new pivot point cited based on its 7/16/24 high plus 10 cents. It was shown in greater detail in this FSU section that evening with an annotated graph under the headline, "Celistica Hits New All-Time High With 8th Straight Gain". It hails from the high ranked Elec-Contract Mfg group which is now ranked 50th on the 197 Industry Groups List (L criteria). CLS recently reported earnings +60% on +22% sales revenues for the Sep '24 quarter versus the year ago period, and 9 of the last 10 quarterly comparisons were at or above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history has been strong since bottoming in FY '19. It has a highest possible 99 Earnings Per Share Rating.
There are only 116.4 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 322 in Jun '23 to 644 in Sep '24, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 2.1 is an unbiased indication its shares have been under accumulation 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 |
USLM
-
NASDAQ
U.S. Lime & Minerals
Bldg-Cement/Concrt/Ag
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$142.58
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+4.80
3.48% |
$145.12
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129,006
189.71% of 50 DAV
50 DAV is 68,000
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$146.70
-2.81%
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9/17/2024
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$71.26
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PP = $87.23
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MB = $91.59
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Most Recent Note - 11/12/2024 5:27:28 PM
G - Pulled back from its all-time high with today's 2nd consecutive volume-driven loss following a noted spurt of volume-driven gains. Its 50 DMA line ($100) defines important near-term support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended From Any Sound Base After Impressive Rally - 11/12/2024 |
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C
A
S
I |
GVA
-
NYSE
Granite Construction
Bldg-Heavy Construction
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$96.74
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-0.49
-0.50% |
$98.41
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405,238
58.48% of 50 DAV
50 DAV is 693,000
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$99.32
-2.60%
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6/11/2024
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$59.76
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PP = $64.33
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MB = $67.55
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Most Recent Note - 11/13/2024 5:48:02 PM
G - Perched near its all-time high, holding its ground while very extended from any sound base. Bullish action has come after it reported Sep '24 quarterly earnings +19% on +14% sales revenues versus the year-ago period, below the +25% minimum guideline (C criteria) of the fact-based investment system.
>>> FEATURED STOCK ARTICLE : Extended From Base After Streak of Gains for New Highs - 11/8/2024 |
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C
A
S
I |
TXRH
-
NASDAQ
Texas Roadhouse
Retail-Restaurants
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$200.59
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+4.40
2.24% |
$201.35
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669,745
91.12% of 50 DAV
50 DAV is 735,000
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$201.24
-0.32%
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7/26/2024
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$173.08
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PP = $175.82
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MB = $184.61
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Most Recent Note - 11/12/2024 2:12:20 PM
G - Volume totals have been cooling while holding its ground after a gap up on 11/06/24 hitting a new all-time high. Prior highs in the $177-180 area define important support to watch coinciding with its 50 DMA line ($178).
>>> FEATURED STOCK ARTICLE : Gain With Light Volume for New High Close - 10/18/2024 |
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C
A
S
I |
HWM
-
NYSE
Howmet Aerospace
Aerospace/Defense
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$115.77
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+2.19
1.93% |
$116.59
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2,331,597
101.42% of 50 DAV
50 DAV is 2,299,000
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$115.98
-0.18%
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7/30/2024
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$93.95
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PP = $85.52
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MB = $89.80
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Most Recent Note - 11/12/2024 2:18:39 PM
G - Stubbornly holding its ground perched at its all-time high, extended from any sound base. Its prior high ($106.93 on 10/21/24) and 50 DMA line ($101) define near-term support levels to watch on pullbacks. Reported Sep '24 quarterly earnings +54% on +11% sales revenues versus the year-ago period.
>>> FEATURED STOCK ARTICLE : Found Support at 50-Day Moving Average Line Before Earnings Report - 11/5/2024 |
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C
A
S
I |
NGVC
-
NYSE
Natural Grocers
Retail-Super/Mini Mkts
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$33.52
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-0.65
-1.90% |
$34.65
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76,827
86.32% of 50 DAV
50 DAV is 89,000
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$34.76
-3.57%
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11/5/2024
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$30.57
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PP = $30.42
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MB = $31.94
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Most Recent Note - 11/13/2024 5:50:00 PM
G - Pulled back from its all-time high with today's loss on lighter volume breaking a streak of 6 consecutive gains marked by higher volume. Prior high in the $30 area defines initial support to watch above its 50 DMA line ($28.18).
>>> FEATURED STOCK ARTICLE : New High After 6th Consecutive Gain - 11/11/2024 |
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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 |
CLS
-
NYSE
Celestica
Elec-Contract Mfg
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$82.05
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-2.01
-2.39% |
$85.41
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2,238,440
97.71% of 50 DAV
50 DAV is 2,291,000
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$87.99
-6.75%
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10/11/2024
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$57.62
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PP = $63.59
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MB = $66.77
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Most Recent Note - 11/13/2024 5:46:44 PM
G - Pulled back from its all-time high with today's 3rd consecutive loss backed by average volume. It is very extended from any sound base. The prior highs in the $63 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Pulling Back After Considerable Rally - 11/13/2024 |
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C
A
S
I |
PAY
-
NYSE
Paymentus Holdings
Finance-CrdtCard/PmtPr
|
$33.80
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+7.19
27.02% |
$37.00
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3,037,449
1,393.33% of 50 DAV
50 DAV is 218,000
|
$27.93
21.02%
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10/17/2024
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$26.15
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PP = $25.31
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MB = $26.58
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Most Recent Note - 11/13/2024 1:37:56 PM
G - Reported Sep '24 quarterly earnings +67% on +52% sales revenues versus the year ago period. Powered to a new 52-week high with today's considerable volume-driven gain well above its "max buy" level and its color code was changed to green. Found support near prior highs in the $24-25 area during the recent consolidation.
>>> FEATURED STOCK ARTICLE : Paymentus Featured Breaking Out With Volume Driven Gains - 10/17/2024 |
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C
A
S
I |
RMD
-
NYSE
ResMed
Medical-Products
|
$235.44
|
-11.77
-4.76% |
$247.73
|
990,153
93.50% of 50 DAV
50 DAV is 1,059,000
|
$260.49
-9.62%
|
10/25/2024
|
$256.64
|
PP = $255.28
|
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MB = $268.04
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Most Recent Note - 11/13/2024 5:52:09 PM
G - Color code is changed to green after today's big loss violated its 50 DMA line ($243) triggering a technical sell signal and it closed near the session low. A prompt rebound above the 50 DMA line is needed for its outlook to improve.
>>> FEATURED STOCK ARTICLE : ResMed Negated Friday's Breakout Raising Concerns - 10/28/2024 |
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C
A
S
I |
ATGE
-
NYSE
Adtalem Global Education
Consumer Svcs-Education
|
$89.85
|
+0.59
0.66% |
$91.27
|
369,791
99.41% of 50 DAV
50 DAV is 372,000
|
$92.93
-3.31%
|
10/30/2024
|
$83.34
|
PP = $80.28
|
|
MB = $84.29
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Most Recent Note - 11/12/2024 2:14:53 PM
G - Extended from the previously noted base and perched at its all-time high, holding its ground following volume-driven gains. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Recent Technical Breakout - 11/4/2024 |
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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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