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Stalled After Recent Technical Breakout - Tuesday, January 30, 2018
Rogers Corp (ROG +$0.60 or +0.36% to $167.58) is consolidating above its 50-day moving average (DMA) line ($163.44) which defines important near-term support to watch. It encountered distributional pressure and stalled after recently rallying into new high territory.
It was highlighted in yellow with pivot point cited based on its 11/22/17 high plus 10 cents in the 12/29/17 mid-day report (read here). On the next session volume-driven gains above the pivot point triggered a technical buy signal from a riskier "late stage" base.
ROG was last shown in the 12/29/17 mid-day report with an annotated graph under the headline, "Hovering Near Prior High After 3rd Strong Quarterly Earnings". Recently the Chemicals - Plastics firm reported earnings +45% on +25% sales revenues for the Sep '17 quarter, its 3rd strong quarterly comparison above the +25% minimum guideline, helping it better match with the fact-based investment system's fundamental guidelines (C criteria). Annual earnings (A criteria) history has been good after a downturn in FY '12.
The number of high ranked funds owning its shares rose from 342 in Dec '16 to 415 in Dec '17. Its current Up/Down Volume Ratio of 1.1 is an unbiased indication its shares have been under accumulation over the past 50 days. It has a small supply of only 18.2 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling.
Charts used courtesy of www.stockcharts.com
Hovering Near Prior High After 3rd Strong Quarterly Earnings - Friday, December 29, 2017
Rogers Corp (ROG +$3.94 or +2.49% to $161.92 ) was highlighted in yellow with pivot point cited based on its 11/22/17 high plus 10 cents. Hovering within striking distance of its all-time high, finding support above its 50 DMA line. Subsequent volume-driven gains above the pivot point may trigger a technical buy signal from a riskier ""late stage" base.
Recently the Chemicals - Plastics firm reported earnings +45% on +25% sales revenues for the Sep '17 quarter, its 3rd strong quarterly comparison above the +25% minimum guideline, helping it better match with the fact-based investment system's fundamental guidelines (C criteria). Annual earnings (A criteria) history has been good after a downturn in FY '12.
The number of high ranked funds owning its shares rose from 342 in Dec '16 to 406 in Sep '17. 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 only 18.2 million shares outstanding (S criteria) which can contribute to greater price volatility in the event of institutional buying or selling.
Charts used courtesy of www.stockcharts.com
