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stock watch, stock split
Begin Part 3 of 3
WATCHLISTS:
PRE-ANNOUNCEMENTS WATCHLIST: ACDO, AROW, BMS, BRL, CTAS, ESI, EXPD, GTK, MRBK, PDCO, RNR, SLM and STU.
LE ($46.99; -7.70): Forecast to announce a split on 4-15-01 in conjunction with a board meeting. The company will not confirm this date but based upon our research the board meeting should be on this date. Got absolutely killed after its breakout move, dropping on huge volume with earnings. For positions not stopped out, we could get a test of the 50 day (49.24) for a better exit.
RUS ($31.43; -0.12): Looking at a date in mid-April, and we are working to narrow that down. Tightening up again. Its pennant had tightened, then widened, and is now tightening again. Looking for the breakout, with a buy point of 31.95 on volume of 34,000. Stock only.
DRYR ($42.30; +0.65): Forecast to announce a split with earnings on 4-24-02 before the open. Dipped all the way back to the 50 day MVA (41.03) Wednesday, but is holding. We will see if it can bounce back, with the breakout at 44.98 on volume of 390,000.
BER ($56.84; +0.34): Researching a new announcement date. Kept moving, with volume up to 188,100 (average 125,400), but pulled back off of its high of 57.22 to close. That could indicate a pullback, and we are looking for BER to hold the 10 day (55.84) and continue its trend down.
SUI ($39.99; +0.08): Forecast to announce a split with a board meeting on 4-01-02. Started a move out of its recent consolidation, hitting 40.19 but volume was not there. Could see a test of the 10 day (39.65) before a move.
CYN ($51.89; -0.27): Forecast to announce a split with earnings 4-16-02 before the open. Trending up, having moved out of its ascending wedge. The last two sessions CYN pulled back, and is still holding the short-term MVA's (18 day at 51.36). Looking for a hold, and the aggressive can play a move over 52.80 on volume of 275,000, with stock and/or May $50 calls to buy (CYN EJ).
AHC ($73.88; -1.61): Forecast to announce a split with earnings on April 24 (tentative date). Has been a concern as drifting up on light volume. That is a recipe for trouble, but after gapping down today it held the 10 day MVA (73.45). We will watch cautiously.
DRS ($39.60; +1.55): Has again retreated to the 50 day MVA (66.73), bouncing back up today on low volume (100,900; average 245,500). In a large ascending wedge, and we will see if it can make a move up to the recent high of 42.80.
XL ($95.20; +0.42): Working on an announcement date, but are looking at a board meeting the first week in April. Bounced from the 50 day MVA (92.36) this week, but on weak volume, and today it pulled way back off of its intraday high. That action typically signals a pullback.
PRE SPLITS WATCHLIST: Watching DHI, MKC, DF and CUB (which just continues to move - protecting those positions).
WRI ($50.50; +0.20): Splits 3:2 effective 4-16-02. WRI is testing the former highs of its saucer. It is hold the 18 day MVA (51.08), today with a loose doji and much stronger volume (139,900; average 76,000). We are looking for a move over 51.20 on volume of 100,000, with stock.
SMD ($26.40; +1.05): Splits 3:2 effective 3-18-02. SMD has made a nice run into the split, and continued up today, showing unusually high volume (93,600; average 49,100). One more session before the split, and the high today was just below the all-time high (made on an intraday spike in early February) of 26.80. We will see if it can continue to move into the split with current positions.
WERN ($27.22; +0.03): Splits 4:3 on March 15. Splits tomorrow, and it pulled back and is holding the 10 day MVA (26.88), making a doji today. We will see if it can hang on through the split and set up another move.
THQI ($48.62; +0.06): Splits 3:2 effective 4-10-02. Is holding with its third consecutive doji after dipping back through its 200 day MVA (50.37). The aggressive can look at a move back over that level in a strong Nasdaq, with stock and/or June $45 calls to buy (QHI FI).
ICUI ($49.98; +0.08): Splits 3:2 effective 3-18-02. Holding the 50 day (49.34), showing consecutive dojis. Aggressive on a bounce from here, with the 18 day MVA ahead at 51.08).
WLP ($123.76; -0.24): Announced a 2:1 split, effective March 18. Going into the split, but the run appeared to end with the pull off of the intraday high on Wednesday.
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 AZO, BBBY, DHR, DIAN, EDS, FLIR, GNSS, GOSHA, HB, JCI, LLL, RARE, RYL, STJ, TGH, TGIC, THC and YUM.
APPB ($34.94; +0.67): Bounced up again, using support at 34. It closed right at the 50 day MVA, but volume was low and we could see the drop we are looking for. Getting a bit tight for a put play.
BBY ($76.61; +1.34): Is holding right at the recent highs, pushing up again today but on weak volume. We will see if we get a test back to the 73 range that can set up a move.
ETH ($39.72; -0.32): ETH made a nice run up from one of its long-term up trendlines (36), which was at the neckline of a head and shoulders pattern. The recent run hit 42.15, but has pulled back to test its 18 day MVA (39.69), where it has held for several sessions. The aggressive can play a move over 40.50 on volume of 350,000, with stock and/or May $35 calls to buy (ETH EG - low open interest).
IGT ($62.26; +0.59): Has dipped back intraday the last two sessions (low of 60.43 - with the January-February lows), but recovering each day, with strong volume (1.8 million today; average 1.1 million). We will watch positions for a bounce off of this level. The 50 day is resistance to the upside at 49.34.
MI ($61.94; +0.10): MI is forming a handle to a cup formed since December (high of 64.20). It is settling down, hold the 18 day MVA (61.56) at its lows. The breakout is 63.12 on volume of 590,000, with stock and/or June $60 calls to buy (MI FL - low open interest).
PII ($64.00; +0.20): Holding up after the great breakout last week, forming a bit of a consolidation on low volume. The recent high is 65.60. Holding positions for a move toward the target of 69, still wary of some profit taking.
POST SPLITS WATCHLIST: Watching BLL, CHS, GILD, NJR, SONC, VAR and XRAY.
ACS ($52.58; +0.01): Split 2:1 on 2-25-02. Erratic now in the handle, hitting up to 54.50 today but pulling back to close. Needs to settle down and form a better pattern.
BSG ($33.70; +0.59): Split 2:1 on 2-25-02. Holding up well, trending up the short-term MVA's (18 day at 32.64). For positions, looking for a move over 34 with volume of 600,000, and stock and/or June $30 calls to buy (BSG FF).
MGAM ($32.90; +0.25): Split 3:2 on February 12. MGAM has been making its choppy way up the 18 day MVA (30.27), but could not hold a move Wednesday, pulling back and showing a doji today. Looking for a continued move over the high, but we need to see volume. For new or additional positions, over 34 on volume of 400,000, with stock and/or July $30 calls to buy (QMG GF - low open interest).
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.
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stock watch
stock split
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