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There are 4 more featured stock write-ups on since to 2/13/2024
Peched at All-Time High With Earnings News Due - Monday, February 5, 2024
e.l.f. Beauty (ELF -$0.02 or -0.01% to $169.74) finished flat after churning above average volume and hitting another new all-time high. It is extended from any sound base and rallied +22.8% since featured in the 1/02/24 mid-day report (read here) and in that evening's report under the headline, "Pulled Back After Closing 3 Weeks Tight". Its 50-day moving average (DMA) line ($143.63) defines important near-term support to watch. Keep in mind it is due to report Dec '23 quarterly results after the close on Tuesday, 2/06/24. Volume and volatility often increase near earnings news.
ELF currently has a 98 Earnings Per Share rating. It reported Sep '23 quarterly earnings +128% on +76% sales revenues versus the year-ago period, adding to its streak of very strong quarterly results well above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history over the past 3 years has been strong, making it a better match with the fact-based investment system's fundamental guidelines.
The number of top-rated funds owning its shares rose from 510 in Mar '23 to 752 in Dec '23, a very 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. Its small supply (S criteria) of only 55.2 million shares outstanding can contribute to greater price volatility in the event of institutional buying or selling.
Pulled Back After Closing 3 Weeks Tight - Tuesday, January 2, 2024
e.l.f. Beauty (ELF -$4.68 or -3.24% to $139.66) has been addeed to the Featured Stocks list highlighted in yellow with pivot point cited based on its 12/20/23 high plus 10 cents after forming an advanced "3 weeks tight" base (the 2nd chart is a weekly graph). It rebounded from early low of the session after gapping down, finished in the upper third of its intra-day range and near its 52-week high. Subsequent volume-driven gains for new highs are needed to trigger a technical buy signal.
ELF has a 98 Earnings Per Share rating. It reported Sep '23 quarterly earnings +128% on +76% sales revenues versus the year-ago period, adding to its streak of very strong quarterly results well above the +25% minimum earnings guideline (C criteria). Annual earnings (A criteria) history over the past 3 years has been strong, making it a better match with the fact-based investment system's fundamental guidelines.
The number of top-rated funds owning its shares rose from 510 in Mar '23 to 722 in Dec '23, a very reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. Its small supply (S criteria) of only 55.2 million shares outstanding can contribute to greater price volatility in the event of institutional buying or selling.
