Perched Within Striking Distance of Pivot Point - Tuesday, November 13, 2018
Weak Finish Amid Widely Negative Market Environment - Wednesday, October 24, 2018
Violation of 50 Day Moving Average Line Hurt Technical Stance - Friday, October 20, 2017
Powerboat Maker Hit Another New 52-Week High - Tuesday, September 26, 2017
Perched Within Striking Distance of Pivot Point - Tuesday, November 13, 2018
Marine Products Corp (MPX -$0.05 or -0.22% to $22.65) challenged its 52-week high but ended lower today. Recent gains were backed by above average volume. Its color code was changed to yellow after rebounding above its 50-day moving average (DMA) line ($21.83) with volume-driven gains. Very little resistance remains due to overhead supply. Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal.
MPX was highlighted in yellow with pivot point cited based on its 9/12/18 high plus 10 cents in the 10/24/18 mid-day report (read here). Recently it reported earnings +62% on +22% sales revenues for the Sep '18 quarter, so the past 4 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Its annual earnings history (A criteria) has been strong and steady, helping it earn the highest possible 99 Earnings Per Share Rating.
The number of top-rated funds owning its shares rose from 126 in Mar '18 to 138 in Sep '18, a reassuring sign concerning the I criteria. It has an A Timeliness Rating and a C Sponsorship Rating. Its small supply of only 7.3 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Weak Finish Amid Widely Negative Market Environment - Wednesday, October 24, 2018
Marine Products Corp (MPX -$1.89 or -8.26% to $21.00) finished weak after highlighted in yellow with pivot point cited based on its 9/12/18 high plus 10 cents in the earlier mid-day report (read here). It gapped up today and challenged its all-time high before reversing into the red. It raised concerns as it closed below its 50-day moving average (DMA) line ($20.42) which acted as support in recent weeks while forming an orderly base.
Subsequent gains above the pivot point backed by at least +40% above average volume may trigger a technical buy signal. Disciplined investors know that new buying efforts in stocks are discouraged until a follow-through day confirms a new rally (M criteria is covered in bold in the FACTBASEDINVESTING.com Market Commentary).
Recently it reported earnings +62% on +22% sales revenues for the Sep '18 quarter, so the past 4 quarterly comparisons were above the +25% minimum earnings guideline (C criteria). Its annual earnings history (A criteria) has been strong and steady, helping it earn the highest possible 99 Earnings Per Share Rating.
The number of top-rated funds owning its shares rose from 126 in Mar '18 to 136 in Sep '18, a reassuring sign concerning the I criteria. It has an A Timeliness Rating and a C Sponsorship Rating. Its small supply of only 7.3 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling.
Charts courtesy of www.stockcharts.com
Violation of 50 Day Moving Average Line Hurt Technical Stance - Friday, October 20, 2017
Marine Products Corp (MPX -$0.15 or -0.98% to $15.19) has sputtered since violating its 50-day moving average (DMA) line ($15.37) with higher volume behind damaging losses triggering a technical sell signal. Only a prompt rebound above the 50 DMA would help its outlook improve.
It was noted with caution in prior reports - "Recent losses negated the breakout attempt and it slumped back into the prior base raising concerns. Confirming volume-driven gains above the pivot point and for new highs would be a very reassuring sign of fresh institutional buying demand,"
In the 9/26/17 mid-day report it was highlighted in yellow with pivot point cited based on its 7/12/17 high plus 10 cents (read here). MPX is a high-ranked leader in the Recreational Vehicles Industry Group.
It is due to report earnings for eh Sep '17 quarter. Recently it reported earnings +38% on +10% sales revenues for the Jun '17 quarter. Three of the past 4 quarterly earnings increases were above the +25% minimum guideline (C criteria), however sequential comparisons show sales revenues growth decelerating. Its annual earnings (A criteria) history has been good."
The number of top-rated funds owning its share rose from 116 in Sep '16 to 127 in Sep '17 (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. Its small supply of only 7.7 million shares in the public float and 34.9 million shares outstanding (S criteria) can contribute to greater price volatility in the event of institutional buying or selling.
Powerboat Maker Hit Another New 52-Week High - Tuesday, September 26, 2017
Marine Products Corp (MPX +$0.19 or +1.18% to $16.31) hit a new high with today's 5th consecutive gain on ever-increasing volume. In the earlier mid-day report it was highlighted in yellow with pivot point cited based on its 7/12/17 high plus 10 cents (read here). Subsequent gains above the pivot point backed by at least +40% above average volume and a strong close could help clinch a convincing technical buy signal.
MPX is a high-ranked leader in the Recreational Vehicles Industry Group. It found support near its 50-day moving average (DMA) line as it formed a sound base since noted in the 8/15/17 mid-day report - "Reported earnings +38% on +10% sales revenues for the Jun '17 quarter. Three of the past 4 quarterly earnings increases were above the +25% minimum guideline (C criteria), however sequential comparisons show sales revenues growth decelerating. Its annual earnings (A criteria) history has been good."
The number of top-rated funds owning its share rose from 116 in Sep '16 to 122 in Jun '17 (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. Its small supply of only 7.7 million shares in the public float and 34.9 million shares outstanding (S criteria) can contribute to greater price volatility in the event of institutional buying or selling.
