The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.

https://navelliergrowth.investorplace.com/

High-Growth Investments

Cadence Design Systems, Inc.

Cadence Design Systems, Inc. (CDNS) continues to earn a spot in the Top Stocks list for the second month in a row, as it remains backed by positive earnings growth and persistent institutional buying pressure. The company offers electronic design automation (EDA) software and hardware, which play an integral role in the electronics design chain, as well as provides software to verify chip designs before they’re set in silicon.

Cadence Design Systems has posted a positive earnings surprise in each of the last four quarters, and it appears to be gearing up for another surprise in April. Over the past two months, analysts have increased first-quarter earnings estimates by 13.6%. Earnings are now forecast to rise 6.8% year-over-year to $1.25 per share, and revenue is expected to increase 11.9% year-over-year to $1.01 billion. CDNS is a Conservative buy below $231.

SOM Technicals:

2-24-23: Closed at 193.74. Trade pressures are down into the neutral zone. Volumes are now neutral. the next target down is 188.91.

3-4-23: Closed at 196.50. Trade pressures are up. Volumes are now bullish. The next target up is 201.39.

3-11-23: Closed at 195.71. Trade pressures are down. Volumes are bullish. The next target down is the 188.91 short entry.

3-17-23: Closed at 206.88. Trade pressures are up. Volumes are bullish. The next target up is the 209.50 prior high.

3-24-23: Closed at 204.48. Trade pressures are down. Volumes are  bullish. The next target down is 195.45.

3-31-23: Closed at 210.09. Trade pressures are up. Volumes are bullish. The next target up is 211.45.

4-14-23: Closed at 214.55. Trade pressures are up but declining. Volumes are bullish. At resistance. The next target down is 203.62 with a stop at 217.67.

4-22-23: Closed at 213.00. Trade pressures are down. Volumes are bullish. The next target down is 203.62.

 

Genuine Parts Company

Genuine Parts Company (GPC) was our new addition to the High-Growth Investments Buy List in March. If you recall, the company operates one of the biggest automotive aftermarket networks in the world, with two primary businesses: Automotive Parts Group and Industrial Parts Group. Genuine Parts’ popular brand here in the U.S. is NAPA, as it sells more than 650,000 parts under the brand name in North America.

After beating analysts’ fourth-quarter earnings estimates, the analyst community has increased first-quarter estimates by 6.3% in the past two months. First-quarter earnings are now forecast to grow 9.1% year-over-year to $2.03 per share, while sales are expected to rise 7.2% year-over-year to $5.68 billion. GPC is a Conservative buy below $179.

SOM Technicals:

3/31/23: Closed at 167.31. Trade pressures are up. Volumes are bullish. The next target up is 174.35.

4-14-23: Closed at 165.07. Trade pressures are down. Volumes are bearish. The next target down is 152.00.

4-22-23: Closed at 166.52. Trade pressures are up. Volumes are now bearish. The next target up is 174.35.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) continues to benefit from elevated food prices and folks’ insatiable demand for French fries. The company is the second-largest supplier of frozen potatoes in the world – and its most popular product is frozen fries. About 80 million portions of fries are sold each day globally.

Lamb Weston will announce results for its third quarter in fiscal year 2023 on Thursday, April 6, before the stock market opens. The current consensus estimate calls for earnings of $0.99 per share on sales of $1.16 billion, which represents 35.6% year-over-year earnings growth and 21.5% year-over-year sales growth. Analysts have upped earnings estimates by 32% in the past three months, so another quarterly earnings surprise is likely.

I should also add that Lamb Weston recently announced that it will pay a quarterly dividend of $0.28 per share on June 2. All shareholders of record on May 5 will receive the dividend. The stock has a 1.1% dividend yield. LW is a Conservative buy below $112.

SOM Technicals:

1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.

2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.

2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.

2-24-23: Closed at 99.98. Trade pressures are down. Volumes are now neutral. The next target down is 87.01.

3-4-23: Closed at 101.98. Trade pressures are up. Volumes are bullish. The next target up is a breakout above the prior high at 102.77.

3-11-23: Closed at 97.63. Trade pressures are down. Volumes are bearish. The next target down is the short entry at 97.30.

3-17-23: Closed at 97.62. Trade pressures are down but rising. Volumes are bearish. the next target down is 91.83.

3-24-23: Closed at 100.18. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 102.70.

3-31-23: Closed at 104.52. Trade pressures are up. Volumes are bullish. The next target up is 107.05.

4-14-23: Closed at 108.71. Trade pressures are up but turning down.  Volumes are bullish. The next target down is 104.23.

4-22-23: Closed at 110.35. Trade pressures are up. Volumes are bullish. The next target up is 112.88.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) is one of the biggest refiners in the U.S., as it operates 13 refineries capable of refining about 2.9 million barrels per day. In fact, during the fourth quarter, crude capacity utilization came in at about 94%, which lead to total fourth-quarter throughput of 2.9 million barrels per day.

Strong refining capacity and increased demand has added to the company’s top and bottom lines in recent quarters – and the analyst community is expecting equally robust results in the first quarter. First-quarter earnings are expected to soar 266.4% year-over-year to $5.46 per share, compared to $1.49 per share in the same quarter a year ago.

Analysts have also increased first-quarter earnings estimates by 62.5% in the past three months, which bodes well for a fifth-straight quarterly earnings surprise. The company is scheduled to release first-quarter results on May 2. MPC is a Conservative buy below $148.

SOM Technicals:

12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.

1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.

1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.

1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.

1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.

2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.

2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.

2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36

2-24-23: Closed at 124.92. Trade pressures are up but declining. Volumes are now bullish. The next target down is 115.36.

3-4-23: Closed at 133.50. Trade pressures are up. Volumes are bullish. The next target up is 136.46, the prior high.

3-11-23: Closed at 129.81. Trade pressures are down but rising. Volumes are bearish. The next target up is the breakout above 136.46.

3-17-23: Closed at 123.68. Trade pressures are up into the neutral zone. Volumes are now bearish. The next target up is 125.78.

3-24-23: Closed at 124.70. Trade pressures are down. Volumes are bullish. The next target up is 130.75.

3-31-23: Closed at 134.83. Trade pressures are up. Volumes are bullish. The next target up is 136.46.

4-14-23: Closed at 130.78. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 125.02.

4-22-23: Closed at 123.53. Trade pressures are down. Volumes are bearish. The next target down is 116.40.

 

Novo Nordisk AS

Novo Nordisk AS (NVO) is a biotech company focused on developing treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. The Dutch company’s leading treatment is Ozempic, and its sales rose 45% in 2022.

Novo Nordisk recently revealed that Ozempic helped diabetes patients achieve greater weight loss, with patients losing between 15 and 20 pounds on higher doses of the treatment. Also important, the treatment resulted in lower hemoglobin A1C levels.

Looking forward to the first quarter in fiscal year 2023, increased sales of Ozempic and its other leading treatments are expected to add to the company’s top and bottom lines. First-quarter earnings are expected to increase 36.9% year-over-year to $1.15 per share, and revenue is forecast to rise 25.8% year-over-year to $7.24 billion. NVO is a Conservative buy below $170.

SOM Technicals: 

2-24-23: Closed at 141.60. Trade pressures are down. Volumes are now neutral. The next target down is 188.22.

3-4-23: Closed at 144.90. Trade pressures are up. Volumes are bullish. The next target up is 149.62.

3-11-23: Closed at 141.29. Trade pressures are down but rising. Volumes are bearish. The next target down  is 134.71.

3-17-23: Closed at 139.44. Trade pressures are down but rising. Volumes are neutral. The next target down is 134.74.

3-24-23: Closed at 152.76. Trade pressures are up. Volumes are bullish. The next target up is 159.89.

3-31-23: Closed at 159.14. Trade pressures are up. Volumes are bullish. The next target up is 177.85.

4-14-23: Closed at 168.60. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

4-22-23: Closed at 172.65. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 177.65.