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Negated Breakout Then Finding Support Above 50 Day Average - Tuesday, November 24, 2015
Pinnacle Financial Prtnr (PNFP +$0.02 or +0.04% to $54.50) is quietly consolidating. It negated the recent breakout by closing back below prior highs after last shown in this FSU section on 11/09/15 with an annotated graph under the headline, "Perched at High Following Breakout". Concerns were raised as it slumped back into the prior base. Disciplined investors limit losses by selling any stock that falls more than -7% from their purchase price. Its 50-day moving average (DMA) line ($52.08) defines the next important support level.
It finished strong after highlighted in yellow with pivot point cited based on its 10/23/15 high plus 10 cents in the 11/06/15 mid-day report (read here). While hitting a new 52-week high the strong gain and finish above the pivot point backed by +98% above average volume clinched a technical buy signal.
PNFP found support at its 200-day moving average (DMA) line during its consolidation. Reported earnings +27% on +35% sales revenues for the Sep '15 quarter, its 3rd consecutive quarterly comparison with earnings above the +25% minimum guideline (C criteria) helping it better match the fact-based investment system's guidelines.
The number of top-rated funds owning its shares rose from 269 in Dec '14 to 310 in Sep '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.2 is also an unbiased indication its shares have been under slight accumulation over the past 50 days. Its small supply of only 33.1 million shares in the public float can contribute to greater volatility in the event of institutional buying or selling.
Perched at High Following Breakout - Monday, November 9, 2015
Pinnacle Financial Prtnr (PNFP -$0.47 or -0.83% to $56.33) pulled back today with volume closer to average. It finished strong after highlighted in yellow with pivot point cited based on its 10/23/15 high plus 10 cents in the 11/06/15 mid-day report (read here). While hitting a new 52-week high the strong gain and finish above the pivot point backed by +98% above average volume clinched a technical buy signal.
PNFP found support at its 200-day moving average (DMA) line during its consolidation. Reported earnings +27% on +35% sales revenues for the Sep '15 quarter, its 3rd consecutive quarterly comparison with earnings above the +25% minimum guideline (C criteria) helping it better match the fact-based investment system's guidelines.
The number of top-rated funds owning its shares rose from 269 in Dec '14 to 313 in Sep '15, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.5 is also an unbiased indication its shares have been under accumulation over the past 50 days. Its small supply of only 33.1 million shares in the public float can contribute to greater volatility in the event of institutional buying or selling.
