Upgrade your membership to see all of the expert analysis we have published on CHDN now!
Steep Losses Violated Both 50-Day and 200-Day Moving Average - Friday, February 28, 2020
Churchill Downs Inc (CHDN -$13.22 or -9.52% to $125.64) violated its 50-day and 200-day moving average (DMA) lines this week triggering technical sell signals, and there was heavier volume behind today's 7th consecutive loss. It will be dropped from the Featured Stocks list tonight. A rebound above the 50 DMA line ($144) is needed for its outlook to improve.
Weak action came after CHDN reported Dec '19 earnings +100% on +28% sales revenues, although that was a noted improvement after the Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 95. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
Weak action came after CHDN reported Dec '19 earnings +100% on +28% sales revenues, although that was a noted improvement after the Jun and Sep '19 quarterly earnings versus the year ago periods were both below the +25% minimum guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 95. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of A.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 1/21/20 with an annotated graph under the headline, "Reversal From High Following 5 Gains With Light Volume".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 495 in Dec '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 0.9 is an unbiased indication its shares have been under distributional pressure over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Perched at New Record High After Recent Gains on Average Volume - Friday, February 7, 2020
Churchill Downs Inc (CHDN +$1.22 or +0.79% to $154.75) has stubbornly held its ground and hit yet another new 52-week high with today's big gain on near average volume. Its 50-day moving average (DMA) line ($138) defines near-term support above the recent low ($132.55 on 1/03/19). Bullish action has continued even after 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.
Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of A+.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 1/21/20 with an annotated graph under the headline, "Reversal From High Following 5 Gains With Light Volume".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 486 in Dec '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under slight accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Reversal From High Following 5 Gains With Light Volume - Tuesday, January 21, 2020
Churchill Downs Inc (CHDN -$1.86 or -1.28% to $143.27) reversed into the red after hitting yet another new 52-week high today following 5 consecutive gains. It is extended from the previously noted base. Its 50-day moving average (DMA) line ($133) defines near-term support nearly coinciding with 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.
It has shown resilience following damaging volume-driven losses after it reported Sep '19 earnings +4% on +38% sales revenues versus the year ago period, its 2nd consecutive quarterly comparison below the +25% minimum earnings guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of A.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 12/30/19 with an annotated graph under the headline, "Touched a New High With Gains Backed by Light Volume".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 480 in Dec '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Touched a New HIgh With Gains Backed by Light Volume - Monday, December 30, 2019
Churchill Downs Inc (CHDN +$1.08 or +0.79% to $137.26) posted a 3rd consecutive gain today with below average volume and managed its best-ever close after touching a new 52-week high. Its 50-day moving average (DMA) line ($130.63) defines near-term support. 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.
It has shown resilience following damaging volume-driven losses after it reported Sep '19 earnings +4% on +38% sales revenues versus the year ago period, its 2nd consecutive quarterly comparison below the +25% minimum earnings guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of B+.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 12/09/19 with an annotated graph under the headline, "Met Resistance After Rebounding Near Prior High".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 457 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Met Resistance After Rebounding Near Prior High - Monday, December 9, 2019
Churchill Downs Inc (CHDN -$0.28 or -0.21% to $131.13) remains quietly perched within close striking distance of its 52-week high. It undercut its 50 DMA line and then rebounded but met resistance near the prior high during the latest 6-week base. A new pivot point has not been cited due to previously noted fundamental concerns. Its 50-day moving average (DMA) line ($128.77) defines near-term support above the prior low ($121.81 on 11/07/19).
It has shown resilience following damaging volume-driven losses after it reported Sep '19 earnings +4% on +38% sales revenues versus the year ago period, its 2nd consecutive quarterly comparison below the +25% minimum earnings guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of B+.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 11/18/19 with an annotated graph under the headline, "Resilience Shown Despite Another Sub Par Earnings Report".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 459 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Resilience Shown Despite Another Sub Par Earnings Report - Monday, November 18, 2019
Churchill Downs Inc (CHDN +$1.74 or +1.38% to $128.25) rebounded above its 50 DMA line ($126.87) which recently acted as resistance. It has shown resilience following damaging volume-driven losses after it reported Sep '19 earnings +4% on +38% sales revenues versus the year ago period, its 2nd consecutive quarterly comparison below the +25% minimum earnings guideline (C criteria). Fundamental concerns have been noted, yet it still has an Earnings Per Share Rating of 87. Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of B+.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 10/30/19 with an annotated graph under the headline, "Perched at Record High at Time of Quarterly Report".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 461 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 39.8 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Perched at Record High at Time of Quarterly Report - Wednesday, October 30, 2019
Churchill Downs Inc (CHDN +$0.64 or +0.48% to $133.37) reported earnings news for the Sep '19 quarter after today's close
Recent gains into new all-time high territory were backed by volume that was above average, clearing the new pivot point cited based on its 8/01/19 high plus 10 cents, triggering a new (or add-on) technical buy signal.
Annual earnings (A criteria) growth has been strong since a downturn in FY '14. Members were previously reminded - "Keep in mind that it is due to report earnings news on 10/30/19. Volume and volatility often increase near earnings news. Jun '19 earnings +10% on +26% sales revenues versus the year ago period were below the +25% minimum earnings guideline (C criteria), noted recently as the results raised fundamental concerns. It still has an Earnings Per Share Rating of 95."
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of C+.
CHDN was highlighted in yellow in the 10/08/19 mid-day report (read here) and it was last shown in this FSU section on 10/08/19 with an annotated graph under the headline, "Volume-Driven Gain for Record High Close".
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 469 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 35.2 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Volume-Driven Gain for Record High Close - Tuesday, October 8, 2019
Churchill Downs Inc (CHDN +$1.07 or +0.83% to $129.77) tallied a 4th consecutive gain with higher volume today and finished at a record high close. It is perched within close striking distance of its all-time high. A new pivot point is cited based on its 8/01/19 high plus 10 cents. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a new (or add-on) technical buy signal.
CHDN found support when consolidating near its 50 DMA line ($122.48) in recent weeks. That important short-term average and prior lows define important support levels to watch.
Keep in mind that it is due to report earnings news on 10/29/19. Volume and volatility often increase near earnings news. Jun '19 earnings +10% on +26% sales revenues versus the year ago period were below the +25% minimum earnings guideline (C criteria), noted recently as the results raised fundamental concerns. It still has an Earnings Per Share Rating of 95.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of C-.
CHDN was highlighted in yellow in the 6/05/19 mid-day report (read here). It was last shown in this FSU section on 9/20/19 with an annotated graph under the headline, "Consolidating Above 50-Day Moving Average Line". Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 449 in Sep '19, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 35.2 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Consolidating Above 50-Day Moving Average Line - Friday, September 20, 2019
Churchill Downs Inc (CHDN -$0.69 or -0.56% to $123.03) ended slightly lower with heavier volume on Friday. Volume totals had been cooling while consolidating above its 50-day moving average (DMA) line ($121.01). More damaging losses below that important short-term average or undercutting the recent lows would raise greater concerns and trigger technical sell signals.
Recently it reported Jun '19 earnings +10% on +26% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria). That broke a streak of 6 consecutive quarters well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It still has an earnings Per Share Rating of 95.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of C.
It was highlighted in yellow in the 6/05/19 mid-day report (read here). It was last shown in this FSU section on 9/04/19 with an annotated graph under the headline, "Found Support After Making Limited Progress". Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 447 in Jun '18, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.4 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 35.2 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Found Support After Making Limited Progress - Wednesday, September 4, 2019
Churchill Downs Inc (CHDN +$2.64 or +2.20% to $122.83) is quietly hovering near its all-time high. It made limited progress above its latest pivot point and has been sputtering. Recently it has found support near its 50-day moving average (DMA) line ($119.02). More damaging losses below that important short-term average or undercutting the recent low ($113.88 on 8/05/19) would raise greater concerns and trigger technical sell signals.
Recently it reported Jun '19 earnings +10% on +26% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria). That broke a streak of 6 consecutive quarters well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It still has an earnings Per Share Rating of 95.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of D+.
It was highlighted in yellow in the 6/05/19 mid-day report (read here). It was last shown in this FSU section on 8/14/19 with an annotated graph under the headline, "Recently Found Support at 50-Day Moving Average". Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 437 in Jun '18, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of 35.2 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Recently Found Support at 50-Day Moving Average - Wednesday, August 14, 2019
Churchill Downs Inc (CHDN -$3.32 or -2.76% to $117.04) has been consolidating near its 50-day moving average (DMA) line ($116.55). More damaging losses below that important short-term average or undercutting the recent low ($113.88 on 8/05/19) would raise greater concerns and trigger technical sell signals.
Recently it reported Jun '19 earnings +10% on +26% sales revenues versus the year ago period, below the +25% minimum earnings guideline (C criteria). That broke a streak of 6 consecutive quarters well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It still has an earnings Per Share Rating of 95.
It was highlighted in yellow in the 6/05/19 mid-day report (read here). It was last shown in this FSU section on 7/16/19 with an annotated graph under the headline, "Volume Light While Hovering at Record High". Annual earnings (A criteria) growth has been strong since a downturn in FY '14.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 436 in Jun '18, a reassuring sign concerning the I criteria. It has a small supply of 35.2 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of D+.
Charts courtesy of www.stockcharts.com
Volume Light While Hovering at Record High - Tuesday, July 16, 2019
Churchill Downs Inc (CHDN +$0.82 or +0.70% to $118.02) has seen volume totals cooling while consolidating near its all-time high, extended from any sound base. Its prior low ($108.57 on 6/25/19) and 50-day moving average (DMA) line ($107.22) define important near-term support to watch on pullbacks.
Bullish action came after reported earnings +75% on +40% sales revenues for the Mar '19 quarter, its 6th consecutive quarter well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It has an earnings Per Share Rating of 99. It returned to the Featured Stocks list as it was highlighted in yellow in the 6/05/19 mid-day report (read here).
CHDN was noted and dropped off the list during a long and deep consolidation after shown in this FSU section on 5/14/18 with an annotated graph under the headline, "Breakout Followed New Supreme Court Ruling on Sports Betting". Its up and down annual earnings (A criteria) history was previously noted as a concern with regard to the strict fact-based investment system's guidelines.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 410 in Jun '18, a reassuring sign concerning the I criteria. It has a small supply of 35.4 million shares (S criteria) outstanding following a 3:1 split effective 1/28/19, and this small supply can contribute to greater price volatility in the event of institutional buying or selling.
6/5/2019 12:12:49 PM - Y - Color code is changed to yellow with new pivot point cited based on its 5/16/18 high plus 10 cents. Triggering a technical buy signal with today's 5th consecutive gain backed by above average volume. Share price was impacted by a 3:1 split when last noted on 1/28/19. Its Relative Strength Rating is 87, above the 80+ minimum guideline for buy candidates. Fundamentals have remained strong since dropped from the Featured Stocks list on 8/20/18.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of C+.
Prior notes are republished below -
6/17/2019 1:10:38 PM - G - Hovering near its all-time high, holding its ground stubbornly following a recent streak of 8 consecutive gains. Prior highs in the $104 area define initial support to watch on pullbacks. Share price was impacted by
6/10/2019 5:25:13 PM - G - Color code is changed to green after rallying above its "max buy" level with today's 8th consecutive gain. Prior highs in the $104 area define initial support to watch on pullbacks. Share price was impacted by a 3:1 split when last noted on 1/28/19.
6/5/2019 12:12:49 PM - Y - Color code is changed to yellow with new pivot point cited based on its 5/16/18 high plus 10 cents. Triggering a technical buy signal with today's 5th consecutive gain backed by above average volume. Share price was impacted by a 3:1 split when last noted on 1/28/19. Its Relative Strength Rating is 87, above the 80+ minimum guideline for buy candidates. Fundamentals have remained strong since dropped from the Featured Stocks list on 8/20/18.
Charts courtesy of www.stockcharts.com
Consolidating Near 50-Day Moving Average - Friday, June 29, 2018
Churchill Downs Inc (CHDN +$4.05 or +1.38% to $296.50) is quietly consolidating near its 50-day moving average (DMA) line ($291.83). Below that important short-term average the prior high ($285.70 on 4/26/18) defines the next important support to watch. It was last shown in this FSU section on 5/14/18 with an annotated graph under the headline, "Breakout Followed New Supreme Court Ruling on Sports Betting". It was highlighted in yellow in the earlier mid-day report (read here) with a pivot point cited based on its 4/26/18 high after an advanced "3-weeks tight" base pattern.A new pivot point was cited based on its 5/16/18 high plus 10 cents. Subsequent volume-driven gains for a new high are needed to trigger a new (or add-on) technical buy signal.
Bullish action came after it had just reported earnings +646% on +13% sales revenues for the Mar '18 quarter, its 2nd consecutive quarter well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It has an earnings Per Share Rating of 93. Its up and down annual earnings (A criteria) history was previously noted as a concern with regard to the strict fact-based investment system's guidelines.
The number of top-rated funds owning its shares rose from 333 in Jun '17 to 381 in Mar '18, a reassuring sign concerning the I criteria. Its small supply of only 13.5 million shares (S criteria) outstanding can contribute to greater price volatility in the event of institutional buying or selling.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group has a Group Relative Strength Rating of B+.
Charts courtesy of www.stockcharts.com
Breakout Followed New Supreme Court Ruling on Sports Betting - Monday, May 14, 2018
Churchill Downs Inc (CHDN $292.60 +$13.60 or +4.87%) was highlighted in yellow in the earlier mid-day report (read here) with a pivot point cited based on its 4/26/18 high after an advanced "3-weeks tight" base pattern. No resistance remains due to overhead supply, and today's big volume-driven gain in the wake of a new Supreme Court ruling on sports betting has it galloping to a new all-time high (N criteria).
It held its ground in a tight range forming an advanced "3-weeks tight" base after a considerable gap up gain on 4/26/18. Bullish action came after it had just reported earnings +646% on +13% sales revenues for the Mar '18 quarter, its 2nd consecutive quarter well above the +25% minimum earnings guideline (C criteria) versus the year ago periods. It has an earnings Per Share Rating of 94. Its up and down annual earnings (A criteria) history was previously noted as a concern with regard to the strict fact-based investment system's guidelines. Its small supply of only 13.5 million shares (S criteria) outstanding can contribute to greater price volatility in the event of institutional buying or selling.
The L criteria of the fact-based investment system guides investors toward buying leading stocks that are in leading industry groups. The Leisure - Gaming/Equipment industry group already has a Group Relative Strength Rating of A.
Charts courtesy of www.stockcharts.com