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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 - 14
Stocks Screened- 8,200
Bull side - Good number of breakouts as market rallies. Russian stocks breaking out, along with some oil plays. Bulls be selective. Market may go into a trading range, if it can hold the downside.
Long-Term Environment for bulls: Neutral
Market Status (Daily) - NYSE Bullish, Nasdaq Bullish
Market Status (Weekly) - NYSE Bullish, Nasdaq Bullish
ATWD, based in Houston provides offshore drilling and completion of exploratory and developmental of oil and gas wells. Annual revenues: $310 million. ATW breaks out from a 15-week, cup-and-handle base today and nears a new high. The move came early in the session. Volume so far today is running at 908,100 shares, double its normal daily volume.
The stock showed some good tape action late on Friday. That's when a big block of 3,600 shares crossed on a big up tick to $51.71 from the prior trade at $51.66. The stock then broke out early on Monday.
ATW owns eight drilling rigs, including four semisubmersible rigs, two jack-ups, one submersible, and one semisubmersible tender assist vessel (which places drilling equipment on permanent platforms).
The company gets most of its sales from operations near Australia, Egypt, Italy, and Malaysia.
ATW's gets 17% of its sales from Woodside Energy and 14% from ExxonMobil Production Malaysia. ATW also operates in the Gulf of Mexico and, is expanding its operations to offshore Japan. Helmerich & Payne owns 13% of ATW's stock. HP's stock broke out today too.
TTD's daily chart of ATW shows the classic breakout today. The stock did attempt a breakout five sessions ago, but it failed and fell back. Today's move, though, is impressive, in that the stock had a gap move higher and volume expanded from the prior session.
The stock's TTD momentum indicator has moved back to the bullish zone. (see top of the chart) The accumulation - distribution line is neutral. TTD is very impressed by ATW's long-term chart which display the stock in a powerful bull market.
ATW has strong earnings coming!
This fiscal year ending Sept. 30, ATW should chalk up an 84% gain in profits to $4.38 a share from $2.38 a year ago. The stock sells with a price-earnings ratio of just 12. TTD sees that as "dirt cheap" given the outlook for next year.
Analysts are forecasting ATW's profits for fiscal 2008 ending in Sept. should soar 93% to $8.45 a share. On a valuation with a modest 15 p/e ratio, the stock has a potential value of $126.
For the upcoming fiscal second quarter, ATW should come in with a 119% jump in net to $1.09 a share from 50 cents a year ago. The highest estimate on the Street is at $1.14 a share.
ATW is benefiting from strong prices. Its revenues for the recently reported fiscal first quarter ended Dec. 31 soared to $88.8 million from $55.4 million a year ago.
Strategy Opinion: ATW looks great as a breakout here and the long-term prospects are excellent. TTD is targeting ATW for a move to 65 within the next few months. A protective stop can be placed near 49.90. TTD rates ATW an excellent intermediate-term play provided earnings remain on course. The stock could generate a 50% return in 12 to 15 months.
Sponsorship: Excellent. The largest fund holder is 5-star rated Columbia Acorn Fund with a 3.86% stake. It was a recent buyer of 104,000 shares. The largest buyer lately was 4-star rated Artisan Small Cap Value Fund, which purchased 306,000 shares.
Insider Activity: Neutral. Not much action lately. Nine analysts follow the stock, 4 have a buy, up from one three months ago. Jefferies put out a buy with a $67 target on Feb. 8. We agree!
| TTD's Breakout Profile
Rating Atwood Oceanics Inc. (ATW) |
| 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 | 1 |
(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: Neutral.
Bear Side - Small list of break downs today as market rallies. Bears be selective. Still opportunities on the downside with damaged stocks.
(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.)
PSPT, based in Los Angeles, is an offshore business process outsourcing (BPO) provider that offers customer management, transcription and captioning and additional services from its centers in the Philippines, Costa Rica and the United States. Annual revenues: $100 million. PSPT, a broken stock, falls sharply today after Cowen lowered its rating. Trading so far is running at a heavy 9.9 million shares, six times its average daily volume.
The tape action in the afternoon is bearish. TTD's clip of the tape today highlights a big block of 2,350 shares crossing on a modest down tick to $11.26 from the prior trade at $11.27.
PSPT's services are designed to reduce costs, improve performance and increase revenues by delivering multilingual voice and text services.
Most of PSPT's services are performed in the Philippines, where it is one of the largest outsourcing companies, employing more than 7,500 college-educated, fluent English speaking personnel.
PSPT serves clients in the travel and hospitality, financial services, technology, telecommunications, consumer products, healthcare and insurance, law enforcement, entertainment and education industries.
A look at TTD's daily chart of PSPT shows the stock with a violent gap breakdown in early March - just what a bear would want. The stock was unable to rally and is now heading lower. TTD sees PSPT suitable for aggressive bears. We are targeting PSPT for a drop to 8.50 within the next few months, or sooner.
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.)