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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 - 7
Stocks Screened- 8,200
Bull side - Small number of breakouts today as market pulls back. Bulls be selective and careful.
Long-Term Environment for bulls: Favorable.
Market Status (Daily) - NYSE Bearish, Nasdaq Bearish
Market Status (Weekly) - NYSE Bullish, Nasdaq Bullish
HSIC, based in Melville, N.Y., sells dental supplies and equipment. It handles 75% of the dental offices in the US. Annual revenues: $5.1 billion. HSIC breaks out from a six-week, cup and handle basing pattern today, despite a sharp drop in the stock market. So far today, HSIC is trading 360,019 shares. Its average daily volume is 401,000 shares.
The stock's push higher could well have reflected HSIC move to increase its stock buy back program by $100 million. What that says is that HSIC thinks the price of its stock is too low.
The stock's move higher today may have been set up by the strong buying on the tape late on Tuesday. TTD's clip of the tape shows a big block of 6,100 shares crossing on a big up tick to $54.20 from the prior trade at $54.08.
HSIC provides such dental items as impression materials, X-ray equipment, anesthetics, and dental practice management software.
It also provides diagnostic kits, surgical tools, and generic and brand-name pharmaceuticals. The company also serves veterinary offices with supplies and equipment.
A look at TTD's daily chart shows that HSIC's base was set up after the stock rallied strongly and quickly from 46 in January to 54. The stock then pulled back and formed a pretty cup and handle base which showed a dry up in volume at the two key low spots - the bottom of the cup and at the handle portion.
The stock's TTD momentum indicator is strongly bullish (see top of the chart).
The accumulation - distribution line has pushed to a new peak. So, all the technicals are lined up very bullishly. In addition, HSIC's long-term chart shows the stock in a solid up trend.
HSIC posted at 30% jump in net in the fourth quarter. That was well above its normal growth rate. It cited an extra week of business for the current quarter 4th quarter. Sales were up 12%.
This year, HSIC's profits should increase 24% this year to $2.54 a share from $2.04 a year ago. The stock sells with a modest 21 price-earnings ratio. Next year, analysts see net rising 16% to $2.95 a share.
For the upcoming first quarter, HSIC's net should be up 20% to 48 cents a share from 40 cents a year ago. The highest estimate on the Street is at 49 cents a share. So, TTD does not expect much of an upside surprise.
Strategy Opinion: HSIC is a large cap play in the medical supply business. The bullish technical pattern and solid earnings growth make the stock a good trading play for now. TTD is targeting HSIC for a move to 63 within the next few months. A protective stop can be placed near 52, which is tight. TTD rates HSIC a slightly above average intermediate-term play.
Sponsorship: Good. The largest fund holder is Neuberger Berman Genesis Fund, 4-star rated, which has a 4.6% stake. It was a recent seller of 216,000 shares. The largest buyer lately was Fidelity Advisor Equity Growth Fund, 3-star rated, which purchased 984,000 shares.
Insider Activity: Neutral. HSIC insiders were buyers around 53 recently using stock options. They turned around and sold. Currently, 11 analysts follow the stock, 4 have a buy, down from 5 three months ago.
| TTD's Breakout Profile
Rating Henry Schein Inc. (HSIC) |
| 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 - 8
Stocks Screened - 8,200
Long-Term Environment for bears: Unfavorable.
Bear Side - Breakdown list expands modestly as market pulls back. Bears be selective.
(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.)
HTX, based in Hong Kong, provides communications services to customers in Asia and the Middle East. It also sells wireless handsets and accessories, Annual revenues: $3.1 billion. HTX falls today on heavy volume to trigger a TTD short play. So far today HTX is trading 275,500 shares, almost triple its normal daily volume of 95,600 shares.
HTCH got off to a bearish start in the morning as a big block of 12,500 shares crossed the tape on a big down tick to $28.20 from the prior trade at $29.49. The heavy selling put the stock under pressure. Most importantly the drop in the price represented a breakdown of the stock from a topping pattern called a "head-and-shoulder" formation.
The parent company of HTX maintains control over telecom interests in Western Europe and North America. It also has wireless telecom holdings in Ghana, India, Indonesia, Israel, Macao, Sri Lanka, Thailand, and Vietnam. In Hong Kong, HTX owns stakes in both wireless and fixed-line services.
This year, HTX's earnings should jump 133% to 28 cents a share from 12 cents a year ago. However, TTD sees the technical considerations as the key to playing this stock.
A look at TTD's daily chart of HTX shows the classic breakdown from the topping pattern and the fall coming on expanding volume. TTD is targeting HTX for a drop to 22 within the next few months.
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.”
For information to subscribe to the Ticker Tape Digest Services call: B. J. Owen at 1-480-926-1680. Distributed by Corona Publishing Enterprises. Ticker Tape Digest Inc. P.O. Box 2044 Chandler, Az. 85244-2044. TTD “Professional Report” is available on the World Wide Web: $100 per month. Password needed. “TTD Professional“ Faxed is $200 per month. The TTD Daily Report is $39.95. Credit cards accepted.
(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.)