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Volume-Driven Breakout for Paccar - Tuesday, January 23, 2024
Paccar (PCAR +$3.26 or +3.36% to $100.35) finished strong after highlighted in yellow in the earlier mid-day report (read here). Today's gain backed by +153% above average volume for a new 52-week high cleared the pivot point based on its 12/13/23 high plus 10 cents triggering a technical buy signal.
PCAR has a 93 Earnings Per Share rating. It reported Dec '23 quarterly earnings +53% on +11% sales revenues versus the year-ago period, its 9th quarterly comparison with better than the +25% minimum earnings guideline (C criteria). There was a downturn in FY' 20 annual earnings (A criteria) like many companies during the pandemic.
The number of top-rated funds owning its shares rose from 2,052 in Mar '23 to 2,147 in Dec '23, 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 Timeliness rating of A and an Accumulation/Distribution rating of A-.
