|
|
stock trading site, stock trading information
Begin Part 3 of 3
WATCHLISTS:
PRE-ANNOUNCEMENTS WATCHLIST: AROW, LE, LSTR, MUR, PDCO, SLM, STU and XL.
CTAS ($56.28; +1.45): Researching a date. The breakout test held the 10 day (54) and the stock is moving up again as volume remains above average and steady at 1.26m (average 1m). Riding positions toward the 65 target.
ABC ($75.23; -0.36): Researching a date. Holding the handle over the 18 day (74.73), as volume is steadily rising, pulling above average today at 1.23 million (average 981k). Still looking for a strong move off of this pattern, targeting 90. A bit out there, but we are keeping the buy point at a move over 78 on volume of 1.2 million. Stop: 72.63 (7%). Stock and/or August $75 calls to buy (ABC HO).
BRL ($67.15; +2.00): Gapped up and tried to clear the 50 day (67.31) today, but the slightly increased volume was merely average and it fell back to close below that resistance. Looking for the resistance to push BRL down. We could still get that put play.
MEG ($67.60; +1.90): Forecast to announce a split on 5-24-02 in conjunction with its annual shareholder meeting. Fell out of the shallow ascending wedge pattern late last week, but after testing down toward the 50 day (64), is trying to mount a recovery with today's weaker push up to close. Still watching to see if it can hold and set something up on decent volume.
BBBY ($36.06; +1.26): Researching a new date. With the strong retail sales BBBY ran back up today, a bounce from the 50 day MVA (34.77) as volume held steady and below average. Not convinced of this move, and we will see how it reacts.
PRE-SPLITS WATCHLIST: Watching GTK (5/24), MI (6/15), PMI (6/18), SU (5/23), FBC (6/21), UPC (6/7) and GG (TBA).
ATK ($108.00; -2.60): Splits 3:2 on or about June 11. The test continued today, as volume picked up considerably (463,200) and ATK pulled back to close just under the 18 day (108.31 - just over the range of the April consolidation highs). ATK is strong, so we are looking for it to catch support and give us another move.
ANN ($49.36; +1.15): Splits 3:2 effective 5-21-02. The retail sales sparked a gap up, but ANN showed a tight doji. Off of that pattern spells a pullback, and we will see how it handles the 48 level.
ZRAN ($38.64; +3.42): Splits 3:2 effective 5-23-02. Was caught up in the AMAT effect, gapping up over the 50 day (36.45) and running on strong volume (1.46m). We are out of the put after this second run, and from here we will see what it does. If it holds the 50 day on a pullback and mounts a solid move up on good volume, we can look to the upside.
RNR ($114.00; +1.85): Splits 3:1 effective May 31. As expected, tested back toward the 50 at (110.15) Monday and is trying to push back up through the short-term MVA's, but it has a struggle there.
ESI ($51.25; +1.61): Splits 2:1 effective June 6. Volume continues to rise as ESI gapped up over our aggressive buy point and continued moving up today, approaching its former double tops (53). Looks to have strength, and we will see how it handles the high at 53.30.
IFIN ($77.01; -0.98): Splits 2:1 effective 6-17-02. Hit our buy point Monday on solid volume, and promptly tested that move today, as volume fell but remained strong at 393k. Looking for a hold of 76 and then a continuation of the move.
YUM ($64.15; +0.40): Splits 2:1 effective June 18. Continues to creep up the 10 day and barely cleared the ascending wedge highs to close today. We could see another test back here, looking for a hold of 63, with the buy point from there on a move to 64.43 on volume of volume of 1 million, and July $60 calls to buy (YUM GL). Stop: 60.
PNRA ($68.07; -0.17): Splits 2:1 effective June 25. Volume is falling as PNRA continues to test and hold the 67.50 level. We want to see it hold here still looking for a bounce and run, which would prevent a bearish head and shoulders. The aggressive can play a move over 70 on increased, above average volume of 500k, stock and/or August $65 calls to buy (UPA HM).
CONTINUING CANDIDATES WATCHLIST: When splits are not announced, we will keep the best split prospects on the report rather than continue to carry all of them in case there is a an unexpected announcement. We will continue to monitor the stocks that are trimmed and add them again when we ascertain a revised split announcement date. These include AHC, AZO, CPS, CYN, DHR, DIAN, DRYR, ETH, ETN, EXPD, GOSHA, JCI, KRB, MGA, MTG, RCII, RUS, SRCL, STI, TGH, and TGIC.
ACDO ($55.51; -0.48): Monday ACDO tested through 55 (support from February-March consolidation highs) on significantly increased, above average volume, but pulled up and held that level to close with a "shooting star" doji. It closed with another doji over that support today, as volume fell, but remained strong and above average at 1.28m. It has the 50 day MVA above to battle at 57.57. Watching support carefully for remaining positions, and still watching to see if it can recover.
AHC ($81.44; +0.65): Gapped up to open, but despite a volume surge to 878,200, AHC could not clear the handle highs. Still watching for the breakout move of 82.32 on continued strong volume (minimum 980,000), with stock and/or August $75 calls (AHC HO). We would not mind seeing a bit of a pause that holds 80, setting up the move with a rest.
ASD ($77.55; +1.60): Gapped back to open but held the 10 day at (75.61), and made a solid push up from there, closing at a new high on decreased, above average volume of 832,000. Riding existing positions but protecting profits.
BER ($58.95; +0.56): Did not get the announcement. Volume is holding steady and light as BER is trying to bounce up from it recent visit to the 50 day (57.70). It did hit our buy point today, but the volume just wasn't there. We will see if it forms up.
FITB ($67.80; +0.70): As expected, tested up toward the 50 day Monday, and tried to continue moving today, gapping up to open but FITB could only manage to close with a weak "hanging man doji." Still looking for stronger selling to kick and trigger a put play. We will see.
KLAC ($60.29; +2.82): Volume remains strong and above average as KLAC continues to bounce around with the market. It gapped way up to open today, but could not clear the 50 day (60.37) to close and closed well off the high. We could get a gap up Wednesday, but we will see from there if it can hold the 50 day.
MMM ($129.99; +1.49): Hit our buy point Monday, but volume was just steady and average, not generating a strong breakout. Gapped up today with the market, making a decent move. We will see it continues up or gives us a test, looking for a hold of 127.50. Target: 145.
PII ($73.70; -0.55): Still holding this 3rd flag pattern, and closing with a higher volume doji over the 18 day (55.24) today. The plays remain: Breakout: 76.85 on volume of 230k. Stop: 72.50. Aggressive: 76.10 on volume of 230k. Stop: 72.50 September $70 calls to buy (PII IN).
STJ ($81.95; -1.80): Sold back hard today as volume shot up to 1.30 million. STJ barely held 82, and we are not looking at riding it down (50 day below at 80).
POST SPLITS WATCHLIST: Watching ABM, ACS, DF, FAST, ICUI, MKC, OPTN, PFCB, SONC, STZ, UOPX, and WLP.
AMAT ($26.64; +1.06): Gapped way up today in anticipation of earnings, and they did not disappoint after hours. The stock was trading after hours up in the 28 range, so we could expect another gap up. We can keep playing these techs, understanding they are not in good patterns and are undergoing base-building. AMAT offers the additional plus of blow-out earnings.
APOL ($37.56; +0.91): Split 3:2 effective 4-26-02. Gapped up on huge volume today as it was added to the S&P 500 to replace WCOM. It tapped near 39 but pulled back intraday, tapped the short-term MVA's at 37 before closing. Looking for a hold of 37.
BBY ($48.13; +1.33): Split 3:2 effective 5-13-02. After hitting the put buy point and taking a ride down, BBY reversed with the strong retail sales number and gapped up today. However, it could only manage a doji (volume up to 4.56m; avg. 2.73m) under its 10 day MVA (48.49), so we are looking for BBY's move to stall here and resume the downward move. Target 45.25.
CHS ($40.61; +1.46): Creeping up since the recent test held over the prior highs at 38, but the volume has been quite weak and below average. It is now back in the range of the breakout high, but with this set up, we could see another test. Still targeting 44, but protective of positions.
CHBS ($41.62; +1.24): After the gap up and reversal, CHBS held 40 and is now trying to resume the move, today up on increased volume of 457k. Riding positions to a target of 46.
PRHC ($23.18; -0.02): Split 3:2 effective 5-1-02. Little overall change today, as PRHC tested through the 50 day (22.73) once again before pulling up and holding over 23 to close. Volume has been and remains light on the retreat from the strong breakout move, so we will see if it can hold on here. If it forms more of a lateral consolidation we could see another strong run.
WTNY ($36.26; -0.95): Split 3:2 effective 4-10-02. Tested back from the recent breakout and held 36, and is making a nice recovery on increasing, above average volume (today: 104,000; avg. 56k). From here the aggressive can play a move over 38.10 on continued strong volume, with a move over the prior breakout highs at 38.75. Stock only.
WTSLA ($22.10; +0.71): Split 3:2 effective 5-10-02. Still holding 21 as volume is picking up, but with the considerable resistance ahead (loose convergence of the 50 day and short-term MVA's at 22.50-23) we are still looking for a put play on a drop through 21 with continued strong volume. July $25 puts to buy (WTQ SE - no open interest as yet).
Good Investing!
Jon L. Johnson and the Stock Split Report Staff.
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners of Online Investment Services, LP or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
|
stock trading site
stock trading information
|
