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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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To email Leo leo@tickertapedigest.com.For service, email Beverly Owen owen@tickertapedigest.com. TTD’s Tel: 1-480-926-1680.
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Total Buy Breakouts so far today - 10
Stocks Screened- 8,200
Bull side - Small list of breakouts, but some interesting plays. TTD is picking up strength in the semiconductor sector. Bulls be selective.
Long-Term Environment for bulls: Unfavorable.
Market Status (Daily) - NYSE Bullish, Nasdaq Bullish
Market Status (Weekly) - NYSE Bearish, Nasdaq Bearish
FLS, based in Irving, Tex., providers of fluid motion and control products and services. The firm operates in 56 countries. It produces engineered and industrial pumps, seals and valves and provides flow management services. Annual revenues: $2.8 million. FLS breaks out from a five-month base today with a significant pick up in volume.
So far today, FLS is up over two points. Volume is running at 1.1 million shares, double its normal daily volume of 517,000 shares.
The stock got off to a good start in the morning (see table). The first trade of the session was a big block of 13,200 shares that crossed the tape on a big up tick to $55 from the prior trade at $54.31.
That was one of the largest trades of the session.
TTD's daily chart of FLS show the stock breaking through near-term resistance from a base formed between roughly 50 and 55. The stock's TTD momentum indicator is bullish (top of the chart)
The stock has been acting strong having raced across the width of the base. The stock's Accumulation - Distribution line is neutral near-term, bullish further out. (see bottom of the chart.
TTD is very impressed by FLS' long-term chart. The stock had a powerful run up and has now put in considerable time basing in a very bullish way. The stock is well set up to move higher.
This year, FLS' earnings should jump 59% to $3.21 a share from $2.03 a year ago. The stock sells with a modest 17 price-earnings ratio. That is well below the earnings growth rate making the stock attractive to value-growth investors.
The company's sales growth is running at 20%. Bookings at the end of the fourth quarter were at $934 million, up from 21% from a year ago.
Strategy Opinion: FLS long-term chart tells the story. The company is continuing to rack up good earnings which should be the fundamental drive to push the stock higher in coming months.
TTD suggests a full position in this breakout. TTD is targeting the stock for a move to 66 within the next few months. A protective stop can be placed near 50. TTD rates FLS a very good intermediate-term play provided earnings remain on course.
Sponsorship: Excellent. The largest fund holder is 4-star rated Fidelity Advisor Mid Cap Fund with a big 6.1% stake. It was the largest buyer recently picking up 185,000 shares. The second largest fund holder is 5-star rated Hotchkis and Wiley Mid Cap Value Fund which was a recent purchaser of 81,000 shares.
Insider Activity: Neutral. There was light selling around 54 in December, accompanied by some buying. Five analysts follow the stock, 2 have a buy, the same as three months ago.
| TTD's Breakout Profile
Rating Flowserve Corp. (FLS) |
| 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 | 14 | 0 | 0 |
(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: Favorable.
Bear Side - Only a few breakdowns today. The stock market is still trending lower on a weekly basis and today has weakened in the afternoon. Bears continue to be on the look for short plays, especially of damaged stocks. TTD's short from Thursday, W&T Offshore (WTI) falls 0.51 to 27.99 today.
(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.)
ZQK, based in Huntington Beach, Ca., makes a variety of apparel products for the sports-minded person. Annual revenues: $2.2 billion. ZQK falls sharply today after reporting disappointing earnings for the fiscal first quarter ended Jan. 31. The stock gaps lower this morning and is unable to rally. Volume so far today is running at 11.1 million shares, six times its normal daily volume of 1.8 million shares.
The stock got of to a bearish start. TTD's clip of the tape shows a big block of 152,700 shares crossing the tape on a down tick to $11.63 from the prior trade at $11.65. That set the stage for the stock weakness today.
ZQK’s products are sold in over 90 countries in a wide range of distribution, including surf shops, ski shops, skateboard shops, snowboard shops, its proprietary Boardriders Club shops, other specialty stores and select department stores.
The company’s European headquarters are in St. Jean de Luz and Moirans, France, and its Asia/Pacific headquarters are in Torquay, Australia.
The company blamed a wintersport season that "was the worst in decades." The company said it is showing poor reorders. For the fiscal year, analysts have been forecasting a flat year with net at 76 cents a share. The company could fall short of that forecast.
ZQK's stock has been acting weak in recent weeks. (see chart) The stock's TTD momentum indicator is very bearish. The accumulation - distribution line is bullish. However, TTD sees the weak fundamentals and the drop in the stock as the key factors. TTD is calling fro ZQK to fall to 8.50 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.)