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Quidel is Now Oversold (QDEL)

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Category: topSource: redinewsMay 1st, 2021

Here"s Why FNF Group (FNF) is Poised for a Turnaround After Losing 8.1% in 4 Weeks

The heavy selling pressure might have exhausted for FNF Group (FNF) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. FNF Group (FNF) has been on a downward spiral lately with significant selling pressure. After declining 8.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for FNFThe RSI reading of 29.68 for FNF is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for FNF has increased 7.8%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, FNF currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fidelity National Financial, Inc. (FNF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 22nd, 2021

U.S. Steel (X) Loses 22.9% in 4 Weeks, Here"s Why a Trend Reversal May be Around the Corner

U.S. Steel (X) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term. United States Steel (X) has been beaten down lately with too much selling pressure. While the stock has lost 22.9% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for XThe heavy selling of X shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 29.21. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering X in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 3.2% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, X currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Steel Corporation (X): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 22nd, 2021

Here"s Why Nucor (NUE) is Poised for a Turnaround After Losing 21.9% in 4 Weeks

The heavy selling pressure might have exhausted for Nucor (NUE) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. Nucor (NUE) has been on a downward spiral lately with significant selling pressure. After declining 21.9% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for NUEThe RSI reading of 28.66 for NUE is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for NUE has increased 7.2%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, NUE currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 22nd, 2021

Northern Trust Corporation (NTRS) Loses 10.7% in 4 Weeks, Here"s Why a Trend Reversal May be Around the Corner

Northern Trust Corporation (NTRS) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term. Northern Trust Corporation (NTRS) has been beaten down lately with too much selling pressure. While the stock has lost 10.7% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for NTRSThe heavy selling of NTRS shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 26.37. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering NTRS in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.2% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, NTRS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northern Trust Corporation (NTRS): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 22nd, 2021

A Confused Wall Street Reacts To Evergrande"s Debt Payment

A Confused Wall Street Reacts To Evergrande's Debt Payment After two anxiety-filled days during which China was on holiday and traders hammered Hong Kong trader property stocks, contagion fears arising from China Evergrande Group’s debt crisis moderated overnight with mainland stocks declining less than expected on Wednesday as they resumed trading, after Evergrande’s onshore unit unveiled vaguely worded plans to pay interest due Thursday on a yuan bond, while leaving the fate of a $83.5 million offshore bond coupon payment in limbo. As we noted earlier, in its filing to the Shenzhen Stock Exchange, the Evergrande unit said that it reached an agreement with yuan bondholders on an interest payment due Sept. 23. It, “has been resolved via negotiations off the clearing house,” but didn’t specify how much or when it will pay the 232m yuan coupon at stake. The language is potentially ominous because under normal circumstances, Chinese bond issuers would simply transfer money to a clearing house to complete payments. The “off-the-clearing house” approach usually means direct but delayed, or partial payment to bondholders. There could even be a lower interest rate involved. In short: it’s one way to avoid being called a defaulter. As Bloomberg's Shen Hong wrote, "Evergrande may have secured bondholders’ agreement with a payment extension or at least succeeded in asking them not to act until compromise is reached, even as it misses the payment due Thursday." In any case, the notice coupled with a 120 billion liquidity injection by the PBOC, the largest since January, and sparking hope that Beijing won't leave the property market in turmoil... ... ushered in relief across markets, with China's CSI 300 Index trimming losses to just 0.7% as of the mid-day lunch break after falling as much as 1.9% at open. Market participants said the development could provide support to stocks battered by regulatory worries, with an injection of short-term cash by the People’s Bank of China also boosting sentiment. In any case, as the sampling of Wall Street reactions to the Evegrande announcement courtesy of Bloomberg shows, responses ranged from the cheerfully optimistic to the downright pragmatic, with some predicting this is the end of the Evergrande drama while others speculating that it is only just starting. Liu Xiaodong, fund manager at Shanghai Power Asset Management Co. “There is evidently a large disparity between what onshore stock investors make of the Evergrande risks and the broader pessimism offshore. I agree with local investors that Evergrande ultimately will not be a systemic risk, and authorities will take action to prevent it from being one, and this difference in attitudes stems from different read of the government need to get involved in risk containment.” “However I don’t think the news today changes much and I won’t be trading much on company headlines since I believe that it will not be systemic and will only affect property and companies in the supply chain.” Jun Rong Yeap, market strategist at IG Asia Pte. “I think we may be seeing a temporary reprieve with some repayments aiding to provide a better-than-expected situation than many would expect. This also comes along with some injection of short-term funds by the PBOC, which suggests that they are monitoring the situation closely and are ready to step in if the economy comes under risks.” Kelvin Wong, analyst at CMC Markets (Singapore) Pte.: Short-term traders or investors that use momentum-driven quantitative strategies “are likely to initiate long positions for a potential mean reversion rebound play plus risk/reward ratio of such trading strategies are attractive at this level,” he said. The Evergrande coupon news “has added another layer of positive feedback loop in terms of short-term sentiment that is likely to prevent the CSI 300 from a much more pronounced decline,” after the Hang Seng Property Index went into oversold territory this week. Gary Dugan, chief executive officer at the Global CIO Office: Evergrande news “will be helpful and hopefully suppress some of the inevitable volatility and downside after the holiday break. That said for confidence to return more meaningfully will need the market to see sight of the broad restructuring plans for Evergrande.” Thomas Westwater and Daniel Dubrovsky, analyst and strategist at DailyFX: “A liquidity injection from the People’s Bank of China accompanied the Evergrande announcement, which only served to bolster sentiment further,” Westwater and Dubrovsky wrote in a note. “Chinese policymakers stopped short of cutting 1- and 5-year loan prime rates, however. For now, it appears that market-wide contagion risk linked to a potential Evergrande collapse is off the table.” James Sullivan, head of Asia Pacific equity research at JPMorgan Chase & Co. told Bloomberg Television: “Evergrande is still likely to default. This is not a company specific issue, this is a structural issue that will impact the entirety of the Chinese developer space but this will not become systemic. We see potential buying opportunities in less leveraged developers with lower inventory levels but we do not see this as a contagion risk for the rest of the region at all.” Tyler Durden Wed, 09/22/2021 - 09:15.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Bitcoin successfully tests key support level near $40,000 but crypto positioning remains risk-off

Once the current pullback in bitcoin matures, Katie Stockton expects the recent peak near $53,000 to serve as a "minor hurdle to all-time-highs." Bitcoin Nurphoto / Getty Images A deterioration in short-term momentum for bitcoin led to a 13% sell-off in the past week.But bitcoin managed to successfully test a key technical support level near $39,900 on Tuesday.Cryptocurrencies still remain in risk-off mode as bitcoin continues to outperform ether on a relative basis.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.A sell-off in bitcoin on Tuesday tested a key technical support level for the cryptocurrency, but there could still be more downside ahead based off of deteriorating momentum indicators.Bitcoin has dropped 13% over the past week, with much of the decline coinciding with the $300 billion Evergrande debt crisis in China. But bitcoin managed to bounce higher off the $39,900 level late Tuesday night, a key horizontal support level monitored by technical analyst Katie Stockton of Fairlead Strategies.Despite successfully testing support on Tuesday, bitcoin isn't out of the woods yet according to Stockton. Bitcoin's RSI indicator, which helps identify oversold and overbought levels, remains in a downtrend but has not yet hit oversold levels. Meanwhile, a continued decline in the MACD (moving average convergence divergence) indicator, which measures momentum, is accelerating.For now, the bias in the short-term is bearish for bitcoin, and a weekly "sell" signal in the MACD indicator would be enough to turn the intermediate-term bias for bitcoin to bearish from bullish, Stockton highlighted in a note on Monday.But Stockton still sees long-term upside ahead for the cryptocurrency as "the long-term uptrend still has a hold on bitcoin." Stockton said that once the current pullback matures, the recent peak near $53,000 will serve as a "minor hurdle to all-time-highs" near $65,000, representing potential upside of 54% from current levels.Bitcoin isn't the only cryptocurrency experiencing a current period of weakness. Ether is also down sharply from its recent highs, and the relative outperformance of bitcoin over ether in the past week suggests that the cryptocurrency space remains in risk-off mode, according to Stockton. Stockcharts.com Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 22nd, 2021

Michael Sincere"s Long-Term Trader: These stock trading signs can tell you when the market is overbought or oversold

Reviewing RSI and MACD in light of recent U.S. market weakness......»»

Category: topSource: marketwatchSep 21st, 2021

Down 8% in 4 Weeks, Here"s Why UBS (UBS) Looks Ripe for a Turnaround

The heavy selling pressure might have exhausted for UBS (UBS) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. A downtrend has been apparent in UBS (UBS) lately with too much selling pressure. The stock has declined 8% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for UBSThe heavy selling of UBS shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 26.22. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering UBS in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.7% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, UBS currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UBS Group AG (UBS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Here"s Why Ternium S.A. (TX) is Poised for a Turnaround After Losing 16.1% in 4 Weeks

Ternium S.A. (TX) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term. Ternium S.A. (TX) has been beaten down lately with too much selling pressure. While the stock has lost 16.1% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why a Trend Reversal is Due for TXThe heavy selling of TX shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 27.05. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for TX has increased 0.1%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, TX currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ternium S.A. (TX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Levi Strauss (LEVI) Loses 9.9% in 4 Weeks, Here"s Why a Trend Reversal May be Around the Corner

Levi Strauss (LEVI) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term. Levi Strauss (LEVI) has been beaten down lately with too much selling pressure. While the stock has lost 9.9% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why LEVI Could Bounce Back Before LongThe heavy selling of LEVI shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 27. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for LEVI has increased 0.3%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, LEVI currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Levi Strauss & Co. (LEVI): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Down 7.1% in 4 Weeks, Here"s Why TE Connectivity (TEL) Looks Ripe for a Turnaround

The heavy selling pressure might have exhausted for TE Connectivity (TEL) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. TE Connectivity (TEL) has been beaten down lately with too much selling pressure. While the stock has lost 7.1% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Here's Why TEL Could Experience a TurnaroundThe heavy selling of TEL shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 28.04. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering TEL in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.1% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, TEL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TE Connectivity Ltd. (TEL): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Down 51.5% in 4 Weeks, Here"s Why Theravance Bio (TBPH) Looks Ripe for a Turnaround

The heavy selling pressure might have exhausted for Theravance Bio (TBPH) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. Theravance Biopharma (TBPH) has been beaten down lately with too much selling pressure. While the stock has lost 51.5% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Here's Why TBPH Could Experience a TurnaroundThe heavy selling of TBPH shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 26.05. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering TBPH in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 12.7% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, TBPH currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Theravance Biopharma, Inc. (TBPH): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Here"s Why Manpower (MAN) is Poised for a Turnaround After Losing 7.3% in 4 Weeks

The heavy selling pressure might have exhausted for Manpower (MAN) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. ManpowerGroup (MAN) has been beaten down lately with too much selling pressure. While the stock has lost 7.3% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Here's Why MAN Could Experience a TurnaroundThe RSI reading of 28.7 for MAN is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.The RSI value is not the only factor that indicates a potential turnaround for the stock in the near term. On the fundamental side, there has been strong agreement among the sell-side analysts covering the stock in raising earnings estimates for the current year. Over the last 30 days, the consensus EPS estimate for MAN has increased 0.4%. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, MAN currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ManpowerGroup Inc. (MAN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Down 6% in 4 Weeks, Here"s Why Qualcomm (QCOM) Looks Ripe for a Turnaround

The heavy selling pressure might have exhausted for Qualcomm (QCOM) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal. A downtrend has been apparent in Qualcomm (QCOM) lately with too much selling pressure. The stock has declined 6% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound.However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.Why QCOM Could Bounce Back Before LongThe heavy selling of QCOM shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 27.42. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering QCOM in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 0.1% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.Moreover, QCOM currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Sluggish Start to Retail Earnings Week

Sluggish Start to Retail Earnings Week Stocks finished last week on a roll with strong back-to-back performances after a stiff inflation-induced plunge, but the weekend really cooled things off and left the major indices with slight losses in a groggy Monday session. Meanwhile, earnings season moves toward its conclusion with some of the biggest retailers in the country scheduled to report in the next few days. It's been a truly fantastic season where more than 80% of companies beat earnings estimates… even if the market rarely rewarded them for the effort. On Monday, stocks were sluggish with tech again under pressure. The NASDAQ slipped 0.38% (or about 50 points) to 13,379.05. The index lost 2.4% last week, but that was after soaring approximately 3% on Thursday and Friday combined. The S&P slipped 0.25% to 4163.29, while the Dow was down 0.16% (or about 54 points) to 34,327.79. These indices were off 1.4% and 1.1%, respectively, last week. We’re coming back from a really volatile week, which saw inflation concerns pull everything down in the first three days (especially tech). The final two sessions saved some face for the market, though it was still solidly in the red over the five days.   Despite the bounce off oversold levels late last week, the market is still not comfortable with the recent CPI report. Consumer prices jumped 4.2% in April year over year, which surged past expectations of around 3.5%. That’s something this skittish market isn’t going to get over quickly, especially since this issue has been its main concern with the pandemic now on its last legs. But this week won’t be all about inflation. Earnings season still has some work to do, especially when it comes to the retailers. Tomorrow will be one of those busy days with giants like Walmart (WMT) and Home Depot (HD) going to the plate before the bell. Department store staple Macy’s (M) is also scheduled for tomorrow ahead of the open. For more on this Retail Week, check out Headline Trader editor Dan Laboe’s new article titled: “What to Expect from Retail Earnings Week”.  Today's Portfolio Highlights: Surprise Trader: For the second session in a row, department store giant Dillard’s (DDS) was easily the top performer among all ZU names. It jumped 12.8% on Monday after reporting strong quarterly results last week that included a more than 400% positive surprise. So you can see why Dave stuck with the same industry today by adding Kohl’s (KSS). This Zacks Rank #1 (Strong Buy) has a positive Earnings ESP of more than 155% for the quarter coming before the bell this coming Thursday, May 20. The editor added KSS today with a 12.5% allocation, while also selling Tractor Supply (TSCO) for 3.1% in a month to free up some space for the remainder of the season. Read the complete commentary for more on today’s action. By the way, DDS is now the best performer over the past 30 days as well with a gain of 34.9%. Technology Innovators: For the past several months, Alpha and Omega Semi (AOSL) has been trending lower. However, Brian thinks this stock is poised for a rebound, especially if the chip shortage is about to end (as he expects). AOSL is a Zacks Rank #1 (Strong Buy) that has beaten the Zacks Consensus Estimate in each of the past four quarters with an average surprise of 33% in that time. Looking forward, earnings estimates have been advancing across the board with analysts calling for growth of 200%+ for this year. Despite this growth, the valuation still looks attractive and margins have been on the rise for the past three quarters. Brian added AOSL on Monday before the next move higher, while also selling Upwork (UPWK) after it slipped to a Zacks Rank #5 (Strong Sell). See the complete commentary for more on today’s action. Blockchain Innovators: There’s no need to explain what Coinbase (COIN) has to do with blockchain technology. This pure-play is the country’s largest cryptocurrency exchange, trading about 50 different digital assets. Dave wanted to add COIN ever since its IPO, and now has a fantastic opportunity after the recent selloff. The stock is currently trading below its IPO price, which means it has plenty of room to run higher. “As bitcoin and other currencies tumble, this feels like a bit of a contrarian move... which I am all for,” said the editor. Read more in the full write-up. TAZR Trader: Throughout this “software slide and Bitcoin bludgeoning”, Square (SQ) is holding at around $200. Kevin has been a fan of this innovative payment processor for a while now, and considers the stock to be a deal at this price. Therefore, he added more to SQ once again on Monday. The portfolio originally bought this position back in November and added to it twice since then. Now it's three times! Read the complete commentary to learn about the five reasons why the editor made this move. Black Box Trader: This week's adjustment swapped out four stocks. The names that were sold today included: • CNH Industrial (CNHI, +2.7%) • CommScope (COMM, +0.7%) • Bloomin Brands (BLMN) • Fluor (FLR) The new buys that filled these spots were: • Sally Beauty (SBH) • Timken Steel (TMST) • U.S. Steel (X) • U.S. Foods (USFD) Read the Black Box Trader’s Guide to learn more about this computer-driven service. Headline Trader: "The markets are readjusting for the new normal, and stock picking has never been more important in this highly uncertain environment. Still, you need to give the market some time to work through macro-economic issues such as tax uncertainties and where the Federal Reserve stands with interest rates as core inflation spreads. It looks like 2021 may be the year that big tech underperforms the S&P 500. "It feels like we are experiencing a goldilocks stock market where equities are not too hot and not too cold, but just right. This is causing the post-earnings market consolidation that we are seeing." -- Dan Laboe Have a Good Evening, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Dow has Worst Session of the Year on Covid, Inflation Concerns

Dow has Worst Session of the Year on Covid, Inflation Concerns A market already nervous about sharply-rising inflation now gets to worry about the Delta variant too as cases are on the rise. This one-two punch led to a significant pullback to begin the week on Monday, including the Dow’s worst single-day plunge of 2021 so far. The index came off its lows by the end of the day, but still plunged by 2.09% (or about 725 points) to 33,962.04. The S&P declined 1.59% to 4258.49 and the NASDAQ slipped 1.06% (or around 152 points) to 14,274.90. Stocks are coming back from their first negative week in the past four. Investors had to deal with a couple indicators showing inflation on the rise, namely the CPI soaring 5.4% year over year and the PPI up 7.3%. Of course, we also got good numbers for retail sales and jobless claims, along with a nice start to earnings season. The concern about the Delta variant is very real out there. Nobody wants to see a new wave of covid, especially when we thought it was on the way out. But will today’s selloff prove to be an overreaction? In the short term, it really doesn’t matter. “The fear of 2020 is fresh in many minds, so whether it is noise or not, people are panicked,” said Jeremy Mullin in today’s Commodity Innovators. “When it comes to markets, this means slower growth and possibly supply disruptions in hard hit Asian countries.” In the longer run, we may look back on the recent sluggishness as the market’s way to pull back a bit from setting so many new highs of late. The editors have certainly been waiting from some give back to pick up stocks at more reasonable prices. For now though, it looks like we’ll be paying attention to covid headlines again. "Today's COVID-driven sell-off seemed a bit overdone, and I wouldn't be surprised if some of the hardest-hit sectors caught a bid tomorrow. I will be looking to add more to the portfolio if we continue lower this week," said Dan Laboe in Headline Trader. Meanwhile, earnings season shifts into another gear this week. The banks gave us a solid start last week, and we’ve already received a strong release from IBM (IBM). After the bell today, the company reported a positive earnings surprise of more than 3.5% and its best revenue in years (+3% year over year). The stock gained about 3% afterhours, as of this writing. One of the biggest reports of the week comes after the bell tomorrow when Netflix (NFLX) becomes the first FAANG to take centerstage. Shares of the streaming giant bucked the downward pull on Monday and gained 0.37%. As of this writing, stock futures are up. Will there be a rebound tomorrow? We’ll see... Today's Portfolio Highlights: Headline Trader: When Uber (UBER) dropped sharply after a mixed quarterly report back in February, Dan saw dollar signs and picked up this market-disrupting ride-sharing pioneer. He feels the same way today amid a slide in the stock during this market selloff. Shares are reaching oversold territory less than three weeks before a quarterly report that’s expected to demonstrate record revenues. The editor thinks it’s a no-brainer to buy more UBER on its dip before this pandemic-proof company springboards off the upcoming quarterly report. Read the complete commentary for more. Insider Trader: The past five sessions have seen shares of Hibbett (HIBB) decline by about 10%, which seems to have prompted two insiders to buy shares of this athletic-inspired fashion retailer. On July 15, the CIO and the General Counsel added 2200 and 2000 shares, respectively. Tracey found this interesting for two reasons: 1) HIBB is still up 86% year to date and 2) the usually-conservative GC was one of the buyers. The editor thinks these buys are a signal that things are going well behind the scenes. Therefore, she added this Zacks Rank #1 (Strong Buy) on Monday with a 10% allocation. Read a lot more about this buy in the full write-up. Surprise Trader: Even if this wasn’t earnings season, you can bet that Dave would be buying on a down day like this. “Buying low and selling high is the name of the game,” he said. To kick things off this week, the editor picked up Graco (GGG) from the highly-ranked Manufacturing – General Industry space (top 22%). The company makes equipment and systems used to measure, move, control, spray and dispense fluid and powder materials. GGG has beaten the Zacks Consensus Estimate for four straight quarters and now has an Earnings ESP of 7.3% for the report coming after the bell on Wednesday, July 21. This Zacks Rank #2 (Buy) was added with a 12.5% allocation. Dave will wait on deleting something since there’s “no reason to sell into a rough day like this”. Read the full write-up for more. Counterstrike: With fear building in the markets, ProShares Ultra VIX ShortTerm Futures ETF (UVXY) has certainly done its job. Jeremy added this name on Friday in preparation a day just like this, and today he sold it to lock in a more than 26% return. Grayscale Bitcoin Trust (GBTC) was also sold as it approaches max loss with Bitcoin coming under pressure. By the way, the editor added Direxion Daily S&P 500 Bear 3X Shares (SPXS) last week as another short bet, which he will continue to hold for now. Black Box Trader: This week's adjustment switched out six positions in the portfolio. The stocks that were sold today included: • International Paper (IP) • Abercrombie & Fitch (ANF) • Jabil (JBL) • Olin Corp. (OLN) • Athene (ATH) • Alcoa (AA) The new buys that filled these spots were: • Halliburton (HAL) • LKQ Corp. (LKQ) • Nucor (NUE) • Santander Consumer (SC) • Target (TGT) • Textron (TXT) Read the Black Box Trader’s Guide to learn more about this computer-driven service. Options Trader: "It’s ironic that the two ‘concerns’ in the marketplace right now are inflation (too hot of an economy), and a potential slowing down due to a resurgence in the case counts (too slow of an economy). Leave it to the market to take such a schizophrenic position. "In the meantime, earnings season is off to a great start. And that’s always an exciting time since stocks typically go up during earnings season. Should be a busy week," said Kevin Matras All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Powell Clears Way for Strong End to Week and New Highs

Powell Clears Way for Strong End to Week and New Highs The market obviously approved of Fed Chair Jerome Powell’s comments at the virtual Jackson Hole meeting today, as stocks resumed their record-setting ways on Friday. All of the major indices finished the week with solid gains. Basically, he’s willing to begin tapering the monthly bond purchases later this year, perhaps depending on next Friday’s Government Employment Situation report. However, interest rate hikes will likely not follow on its heels and could still be a ways off. And of course, the Chair continues to view rising inflation as transitory. That’s quite a change in tone from yesterday when a trio of Fed bigwigs seemed much more enthusiastic about changing the monetary policy as soon as possible. The market preferred Mr. Powell’s more dovish approach. After taking a break yesterday, the NASDAQ returned triumphantly to the positive side with a surge of 1.23% (or about 183 points) to 15,129.50. The S&P rose 0.88% to 4509.40. These indices closed at record highs for the first time since… Wednesday. They each had five-day winning streaks before taking a break on Thursday. The Dow got in on the fun with a rise of 0.69% (or about 241 points) to 35,454.81, which puts it less than 0.5% from making its own history (which was last set on August 16). The NASDAQ jumped 2.8% for the full week, while the S&P advanced 1.5%. The Dow increased just under 1%. That’s a nice turnaround from the previous week’s lackluster results that saw each of the indices in the red, led by a 1.1% dip for the Dow. The major news for next week will be backloaded once again to Friday when the Government Employment Situation report is released. We’re coming off of two very strong reports, especially the July number of 943K jobs added easily beating expectations with the unemployment rate moving lower to 5.4%. Something similar may provide the final straw in convincing the Fed to start the tapering process, perhaps as soon as the September meeting. So relax over the next couple of days and get ready for another hectic week in front of the Labor Day holiday. Today's Portfolio Highlights: Technology Innovators: The portfolio swapped a name in the ad buying space on Friday and protected a triple-digit win along the way. Brian sold Criteo (CRTO) for an epic 111.5% return in a little over nine months. The company has obviously performed well for the service, but its chart just “looks terrible” these days. However, The Trade Desk (TTD) is in the same space and has been on a solid run since May.The Zacks Rank #2 (Buy) has also beaten the Zacks Consensus Estimate in each of the last four quarters with an average surprise of 91% over that time. TTD is also much bigger than CRTO with a $37 billion market cap vs. $2.5 billion. With revenue growth of 101% in its most recent quarter and more expected in the future, the editor thinks that TTD will grow into its hefty valuation and be a worthwhile replacement for CRTO. Read the full write-up for more on today’s moves. Options Trader: When selling the September call in Nasdaq (NDAQ) last week for 64%, Kevin said he’d be open to buying the name again if it went lower or broke out through its previous highs. Well, it was breaking out today, so the editor bought to open a January 195.00 Call on Friday. The portfolio has already pulled three profits out of NDAQ this year and the editor is looking for even more. Read the full write-up for all the specifics. Insider Trader: It was a busy Friday session with Tracey adding three names. The new additions and the insider buys are: • 1stDibs.com (DIBS) – the CEO bought several times this month • Digital Turbine (APPS) – three directors added this month • OneSpan (OSPN) – the Interim CEO & General Counsel and four directors DIBS is a luxury online marketplace that looks oversold, which makes the CEO’s move a “confidence buy”. APPS offers products and solutions for mobile operators, device OEMs and third parties. Shares have fallen 19% in three months despite reporting 104% organic revenue growth in its most recent quarter, so the three directors must see an opportunity. OSPN is a software company that offers remote banking transaction solutions and is making a transition to a recurring revenue model. It has experienced some “chaos in management”, but the cluster buy suggests that such problems are in the past, The editor put 10% into each position and still has plenty of cash to buy more next week. Read the full write-up for a lot more on today’s action. Have a Great Weekend! Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>  Zacks Investment Research.....»»

Category: topSource: zacksSep 21st, 2021

Bond Report: 10-, 30-year Treasury see largest 1-day yield drop in 6 weeks

Long-dated U.S. government bond yields retreat Thursday, supported by buying that has driven rates lower and prices higher, with strategists pointing to bargain hunting by fixed-income investors in a market viewed as slightly oversold in recent days......»»

Category: topSource: marketwatchMay 20th, 2021

Bond Report: Benchmark U.S. bond yield falls as strategists call debt market oversold

The 10-year U.S. Treasury caught a bid on Thursday, stoking a firm pull back from its highest yield levels in about 5 weeks......»»

Category: topSource: marketwatchMay 13th, 2021

Oversold Bitcoin Falls To Support

Could Bitcoin (CRYPTO:BTC) stage a rebound? It has dropped to a level that has been support and is oversold. Oversold means it's trading below what would be a typical or average trading range. These conditions draw buyers in the market. read more.....»»

Category: blogSource: benzingaMay 13th, 2021