us stock market, stock split

Begin Part 3 of 3

WATCHLISTS:

PRE-ANNOUNCEMENTS WATCHLIST: BMS, CTAS, DLX, EDMC, LSTR, NYT, PDCO, STU, TFX (7/17), and WFMI.

BRL ($64.86; +1.74): Put. Hit the buy point on the put Thursday but did not have any volume behind it, and today rebounded with the market. BRL is still in at the lows of its large descending wedge, and on the move today BRL closed at the 10 day. We are looking for a failure here or near 66, and a strong breakdown. Target of 55.
BUY POINT: A drop through 62 on volume of 500k. Stop: 67
POSITION: August $70p to buy (BRL TN - 121 OI, -63 delta).

HUG ($40.00; +0.20): Working on a new announcement date. Has come back after dropping through the 50 day (38.91) in May, forming an ascending wedge with the 50 day now serving as support. Friday HUG tapped that level at its low but recovered for a loose doji at the 18 day. The higher low creates the ascending wedge with the high at 41.68. Excellent buying and good relative strength. Target: 49
BUY POINT: 40.78 on volume of 250k. Stop: 37.90
POSITION: Stock and/or October $35c to buy (HUG JG - 1 OI as yet, 77 delta).

ABC ($78.90; -0.02): We are researching a forecast date. ABC bounced nicely from the 50 day MVA (currently 75.24) last week, but now is struggling to hold the prior highs in the 79 range (18 day MVA at 78). Friday ABC again pulled back from 80 to close as volume spiked up. We will see if it can hold 78-79 to set up a continued move. Target 92.
BUY POINT: Over 80.20 on volume of 1.4 million. Stop: 74.40 (7%).
POSITION: Stock and/or August $75c to buy (ABC HO).

HSIC ($48.75; +1.12): Made the move down early Friday after testing the breach of the 50 day (47.71), but moved back up with gusto, charging back up on increased volume (274,400; avg. 332k). Skeptical of its ability to continue up, but will not hold through a move over the recent high at 49.75 (the right shoulder high in the head and shoulders).

SLM ($91.72; -0.29): Gapped way down Friday but rebounded with the market, still closing down for the day. Not expecting much from the relief bounce, still targeting 89.

MUR ($87.77; +0.28): Has rebounded slightly, but volume has not been impressive on the little move which is stymied below the 10 day MVA (88.30). Not looking for MUR to sustain a test through the 10 day, and we are still targeting 84 (200 day MVA at 83.49).

PRE-SPLITS WATCHLIST: Watching JNC (6/25), MI (6/17), IFIN (6/17), PMI (6/18), KSWS (6/22), EXPD (6/25), STJ (6/29), GMRK (7/1) and BER (7/3).

HCBK ($39.53; +0.13): Splits 2:1 effective June 18. A bit erratic here, unable to continue its attempted breakout, gapping back on big volume Thursday, and then Friday tapping all the way back to its 50 day (37.36) before recovering to close. The aggressive play on continued upward momentum is over 40 with October $35c to buy (KHQ JG). Quick play and target of 43.

YUM ($62.67; -1.33): Splits 2:1 effective 6-18-02. Pulled back harder Friday, closing back on its 50 day MVA after hitting down to 62.10 intraday. Some restaurants that have been leaders have turned over a bit, so we are ready with stops at 61.50. Not ready to jump on the downside as YUM could recover.

PNRA ($67.50; +0.16): Splits 2:1 effective June 25. Still holding up, as PNRA gapped back Friday but would not give up its 50 day MVA (66.04). The selling back was on low volume, so we are looking for a hold here.

JILL ($35.10; -0.55): Split 3:2 effective July 1. After last week's great bounce from the 50 day (currently 31.61), JILL made a gradual move up (and with a huge volume spike Wednesday on being added to the S&P madcap 600), but could not hold a move over the high. It pulled back slightly today, and we are looking for a hold of 34 to set up another attempt at a move. Target 41.

THC ($74.91; -1.23): Splits 3:2 effective 7-1-02. THC made a solid recent move to a new high, and announced solid business numbers earlier this week. The stock tapped 78 Tuesday and reversed, but has held up well at prior highs. Friday it dropped back to the 10 day MVA. Looking for a hold and continued run for this strong stock in a strong sector. Target: 90
PLAY: A move back over 77.10, with stock and/or August $75c to buy (THC HO).

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, BBBY, EASI, ETH, KSS, MHK, MMM, RCII, RUS, and STI.

AZO ($80.59; -0.41): Has held up on the breakout and formed an ascending wedge. It hit up to 84.50 Monday, but pulled back to close and has pulled back the last few sessions on below average volume to hold the 18 day MVA (80.38). Looking for another strong upward move to add to positions or take new ones, but in this market it could be difficult. Target: Run to 100
BUY POINT: On a move over 83.50 with volume of 1.4m. Stop 78.
POSITION: Stock and/or September $80c to buy (AZO IP).

CYN ($51.34; +0.34): Tapped 50.10 at its low today, rebounding on higher, strong volume (271k; avg. 1.66k). Targeting 48.50 on the put, and we are looking for the downtrend to continue after we get a bit more of a test upward.

DHR ($62.42; -0.66): Hit the put target Friday, hitting as low as 61.28 before recovering to close just below the 200 day MVA.

DRYR ($42.79; -0.17): Has been stubborn on the put play, and Friday started down but pulled back up to close with a doji off of a low of 41.85. We could see a move up to the 10 day (43.40), but the bias is still down and are targeting 38 on the put.

FITB ($63.66; +0.64): We were prepared to take profits after Thursday's action, and as expected, Friday FITB hit the target (62.62) on the put play!

KLAC ($48.45; -0.19): Gapped through the new put buy point (47.50), but as stated in our alerts, we were wary of a bounce off of the lows so did not take positions. KLAC did bounce with the market, and we will see if it again testes the recent resistance of its 10 day MVA (49.96). From there we will evaluate put positions on a renewed move down.

WEN ($38.89; -0.87): A solid move up, but after hitting 40.18 WEN has pulled back, Friday on stronger volume (908k) bit holding over prior highs and the 10 day MVA (38.63). Still holding positions and looking for support here to maintain. Target is 44.

POST SPLITS WATCHLIST: Watching APPB, BBY, CHBS, CHS, DF, JAH, MCHP, MKC, SRCL, WLP, and WTSLA.

AMAT ($19.83; -0.55): Hit 18.94 on the initial drop Friday, but like everything else was able to rise back up as the market pushed back up during the session. Again, not looking for this push to change things, and still targeting 18 on the put.

ATK ($66.64; -0.68): Split 3:2 on or about June 11. Hanging on in a consolidation below the 50 day (69.23; with the short-term MVA's as well). We are still looking for ATK to give in and sell, and on put positions are targeting 60. With selling below 65 on volume of 350k, we can look at new or additional positions with August $70p to buy (ATK TN - no OI as of yet).

COCO ($28.67; +0.98): Bounced again Friday from the 50 day MVA (27.18). Last week's bounce started with promise but was short-lived, topping out at 29.49 (all-time high 29.69). Holding positions, targeting 34.

CPS ($45.68; +0.35): Split 4:3 effective 6-7-02. Broke from the ascending wedge last week, but has come back now, trying to hold prior highs and the 18 day MVA, at 45. We will see if it can hold here and try again to make a move on 49.50.

FAST ($37.77; -0.26): Has dropped back and taken out our aggressive buy point on the put. Friday it tapped 37.16 at the low, catching some support from recent lows and pulling back up a bit to close. Still targeting 36.

FBC ($21.71; +0.29): Split 3:2 effective 6-3-02. Encountering resistance at recent highs at 22. FBC made a very nice bounce from the 50 day MVA (19) recently, and started another move Thursday after a nice consolidation of dojis. However, FBC pulled back Friday from its high of 22.11, closing with a doji on higher volume. On a dip we will look for a hold of 21 to set up another try.

LLL ($52.05; -2.65): Split 2:1 effective 5-21-02. Continued down on the put and took out the initial target of 54! The momentum is down and we are still looking for a move to 51, although we could see a relief bounce soon.

PFCB ($52.05; -2.65): Dropped through the aggressive put buy point but, after hitting 32.15, gave a bounce back up with the market. We look for a failure at the 10 day (57.31), and drop back toward the target of 28. We can look at new or additional positions on a drop through 33, with October $37.50p to buy (HUO VU).

PRV ($25.06; -0.75): Broke out this week but volume was not great, and it turned back around. PRV continued back to close below the 18 day (25.19). Not the move we were looking for, and the 50 day is below at 24.07.

ZRAN ($19.71; -0.13): Like the other semis on the report, gapped down but rebounded toward the recent resistance of the 10 day MVA (20.49). It has already hit our put buy but without much volume; however, this bounce could give us another chance for new or added positions. On a failure at the 10 day, a drop back through 18.68 in a weak market, targeting 14. September 23.375p to buy (HZL UV - 27 OI, -.59 delta).

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.

us stock market
stock split