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By Leo Fasciocco -- TTD
Ticker Tape Digest presents its daily breakout and Short Selling report. It contains Breakout Stocks and Stocks under Significant Accumulation.Data is from tape action for the day. These stocks are most suitable for aggressive investors seeking ideal entry points for leading stocks.
These stocks will do very well during bull markets and strong market rallies.
TTD also presents Stocks To Sell or Sell Short.These issues are suitable for aggressive investors willing to take short positionsboth as trades or for longer-term plays. These stocks will do very well during bear markets or market corrections
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Total Buy Breakouts so far today - 24
Stocks Screened- 8,200
Bull side - Big number of breakout stocks today. Some tech plays starting to move out, along with some casino issues. Bulls can be venturesome.
Long-Term Environment for bulls: Favorable.
Market Status (Daily) - NYSE Bearish, Nasdaq Bullish
Market Status (Weekly) - NYSE Bullish, Nasdaq Bullish
MR, based in Nanshan Shenzhen, China, makes about 40 medical devices such as patient monitoring devices, ultrasound imaging systems, and diagnostic laboratory instruments. Annual revenues: $134 million. MR, a recent new issue breaks out from an 11-week flat base today and hits a new high. The stock is trading 2.7 million shares so far today, triple its normal daily volume of 870,000 shares.
TTD featured MR as a breakout at our midsession show on the Web.
A clip of the tape from MR in the afternoon showed continued good buying after its breakout. A big block of 2,200 shares crossed on a nice up tick to $27.45 from the prior trade at $27.40.
MR has sold more than 17,000 devices through distributors and direct sales personnel to clinics, hospitals, and other health care providers primarily in China, but also in some 120 other countries.
MR has been an excellent performer for bulls. The stock began trading around 16 back in late September. (see chart). It climbed to 27 by mid-December and then based very nicely. Today's breakout carrying the stock to a new high could well bring in more buying from the "new-high crowd" on Friday.
Technically, the base was well formed with the stock spending its most recent weeks near the stop of the base. The stock's TTD momentum indicator (top of the chart) is strongly bullish.
The accumulation - distribution line (bottom of the chart) lags. So, that would put a dab of caution on one's mind.
MR will report net for the fourth quarter on March 12. The Street is forecasting net of 47 cents a share for the year. Comparable year ago numbers were not available. The highest estimate on the Street for the year is at 48 cents a share. So, no one is expecting much of an upside surprise.
Profits for the fourth quarter should be 13 cents a share. The stock's breakout today could well be a sign of good fourth quarter.
Looking ahead to 2007, analysts predict a 21% improvement in net to 57 cents a share from 47 cents a year ago.
Strategy Opinion: MR's breakout is picture perfect. TTD suggests a full position on the breakout. We are targeting the stock for a move to 34 within the next few months. A protective stop can be placed near 25.50.
TTD rates MR a very good intermediate-term play provided earnings meet expectations.
Sponsorship: Good. The largest fund holder is 3-star rated American Century Intl. Discovery Fund, 3-star rated, which was a recent buyer of 213,000 shares. Another key buyer was 4-star rated Delaware Emerging Markets Fund which added 157,000 shares.
Chairman and Co-CEO Xu Hang owns about 22% of the stock and president and Co-CEO Li Xiting 19%.
Insider Activity: Not available. Three analysts follow the stock, one has a buy, 2 are neutral.
| TTD's Breakout Profile
Rating Mindray Medical Intl. Ltd. (MR) |
| TTD Check List | Bullish | Bearish | Neutral |
| Near 52-week High | YES | ||
| Volume | YES | ||
| Tick Volume | YES | ||
| Price Trend - Daily | YES | ||
| Price Trend - Long Term | YES | ||
| Price Daily Spread | YES | ||
| Base Structure | YES | ||
| Base - A-D | YES | ||
| Earnings-Quarterly | YES | ||
| Earnings-Long Term | YES | ||
| Earnings Outlook | YES | ||
| Industry Group | YES | ||
| Prior Breakout Success | YES | ||
| Fund Sponsorship | YES | ||
| Total Score | 12 | 0 | 2 |
(The “breakout List” gives all stocks breaking out of a base of five weeks or more. These stocks have a good chance to trend higher. However, a stop should be used to avoid those that do not work.
(Trading strategy: One should buy breakout stocks at breakpoint by using market order or stop buy)
Ticker Tape Digest’s Daily List of “Stocks To Sell or Sell Short” ranks stocks well timed to be sold immediately based on daily trading. The list can be used as an alert to reduce current long-term positions.
Shorts from tape action so far today - 6
Stocks Screened - 8,200
Long-Term Environment for bears: Unfavorable.
Bear Side - Only a small number of break down stocks. Bears be selective and conservative.
(Trading strategy: These stocks can be sold short, or if held should be sold. If a stock is sold short, a protective stop buy should be placed. Short plays work best when the stock market is in a down trend.)
PGTI, based in North Venice, Fla., makes custom aluminum and vinyl windows, doors, and sliding panels. Annual revenues: $332 million. PGTI breaks down hard today to trigger a TTD short after the company reported a loss for the fourth quarter. PGTI is trading a hefty 1.2 million shares so far today, 13 times its normal daily volume of 84,000 shares.
PGTI reported for the year 2006 a loss of 5 cents a share compared with a profit of 50 cents a year ago. Revenues for the fourth quarter dropped 23% due to market conditions that impacted all the company's product lines.
TTD's clip of the tape shows heavy selling pressure in the morning. That is when a big block of 88,889 shares crossed the tape on down tick to $11.89 from the prior trade of $11.95.
The company also makes impact-resistant windows and doors designed to withstand hurricane-strength winds and natural disasters. PGTI operates plants in Venice, Florida, and Lexington, North Carolina, and sells its products through dealers and distributors in the US and in Australia, the Caribbean, and South America.
Some analysts are forecasting lower earnings for this year. Technically, the stock's breakdown today indicates investors fleeing from the issue - like a hurricane. The stock's accumulation - distribution line (bottom of the chart) is extremely bearish confirming the weakness in the stock. TTD is calling for PGTI to fall to 9 within the next few months. We see the stock as a good trading short.
TTD columnist Leo Fasciocco has covered the stock market for over 20 years. His articles appear in many publications. He is also a speaker at the Intershow conferences. He has been on television and radio. He is author of many educational articles about stock investing and the book “Guide To High-Performance Investing.”
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(The information contained has been prepared from data deemed reliable but there is no guarantee of complete accuracy. Ticker Tape Digest Inc. is not affiliated with any broker, dealer or investment advisor. Nothing in this publication constitutes an offer, recommendation or solicitation to buy or sell any securities. Further research is advised. This report is copyrighted and no redistribution is permitted with out permission. Some of the charts are from Telescan, Insight Trading, First Alert and other sources.)