High-Growth Investments

Novo Nordisk AS

Novo Nordisk AS (NVO) has exhibited tremendous relative strength in August, as the stock is up about 18% in the past four weeks. You may recall from our earlier discussion that Novo Nordisk 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.

Most recently, Novo Nordisk has benefited immensely from robust demand for its weight-loss and diabetes drugs, Wegovy and Ozempic. During the first six months of 2023, total sales rose 29% year-over-year and earnings increased 43% year-over-year. Given the positive first half, the company increased its outlook for fiscal year 2023.

Novo Nordisk now expects full-year 2023 earnings growth between 31% and 37%, up from previous forecasts for 24% to 30% annual earnings growth. Full-year revenue growth is now anticipated to be between 27% and 33%, compared to prior estimates for 28% to 34% annual revenue growth. As a result, analysts have increased third-quarter and full-year earnings estimates over the past three months. NVO is a Conservative buy below $200.

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.

4-28-23: Closed at 167.09. Trade pressures are up. Volumes are now neutral. The next target down is 159.13.

5-7-23: Closed at 163.24. Trade pressures are down but rising. Volumes are neutral. The next target up is 167.92.

5-13-23: Closed at 171.27. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

5-20-23: Closed at 170.54. Trade pressures are up. Volumes are bullish. The next target up is 172.97.

5-27-23: Closed at 162.23. Trade pressures are down but rising. Volumes are bearish. The next target down is 159.13.

6-3-23: Closed at 157.14. Trade pressures are down. Volumes are now bullish. The next target down is 150.57.

6-10-23: Closed at 158.05. Trade pressures are down into the  neutral zone. Volumes are neutral. The next target down is 153.05.

6-20-23: Closed at 159.698. Trade pressures are down. Volumes are bullish. The next target down is 156.49.

6-24-23: Closed at 159.07. Trade pressures are down. Volumes are bearish. The next target down is 156.49.

8-25-23: Closed at 186.43. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 178.22.

9-1-23: Closed at 189.31. Trade pressures are down but turning  up. Volumes are bullish. The next target up is 191.19, the prior high.

9-8-23: Closed at 195.40. Trade pressures are up. Volumes are bullish. The next target up is the 197.54 prior high.

9-16-23: Closed at 190.43. Trade pressures are down/ Volumes are bearish. Made the 201.76 high, but now in pullback mode. The next target down is 188.26.

9-23-23: Closed at 91.30. 2:1 stock split on September 20. Trade pressures are down into the neutral zone. volumes are bearish. The next target down is 89.95.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

In fact, thanks to strong demand for its services, the company achieved record second-quarter results.

For the second quarter, Quanta Services reported adjusted earnings of $1.65 per share and revenue of $5.05 billion, which compared to adjusted earnings of $1.55 per share and revenue of $4.23 billion in the same quarter a year ago. Analysts expected adjusted earnings of $1.63 per share on revenue of $4.71 billion.

Given the positive quarterly results, Quanta Services upped its outlook for fiscal year 2023. Full-year revenue is now forecast to be between $19.6 billion and $20.0 billion and adjusted earnings per share are expected to be between $6.90 and $7.30. In turn, analysts have increased earnings estimates for upcoming quarters and full year 2023. PWR is a Conservative buy below $221.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

4-28-23: Closed at 169.64. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 170.39.

5-7-23: Closed at 171.07. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 171.94, the prior high.

5-13-23: Closed at 173.85. Trade pressures are up. Volumes are now bearish. The next target up is 179.82.

5-20-23: Closed at 171.72. Trade pressures are up. Volumes are neutral. The next target up is 179.82.

5-27-23: Closed at 174.00. Trade pressures are up. Volumes are bullish. The next target up is 179.82.

6-3-23: Closed at 180.08. Trade pressures are up but declining. Volumes are bullish. The next target up is 181.83.

6-10-23: Closed at 182.83. Trade pressures are up. Volumes are now neutral. The next target down is 179.63.

6-20-23: Closed at 185.391. Trade pressures are up but declining. Volumes are bullish. The next target down is 181.95.

6-24-23: Closed at 186.62. Trade pressures are up but declining. Volumes are neutral. The next target down is 181.06.

7-1-23: Closed at 196.45. Trade pressures are up. Volumes are bullish. The next target up is 197.20.

7-9-23: Closed at 193.60. Trade pressures are down. Volumes are neutral. The next target down is 186.83.

7-15-23: Closed at 196.12. Trade pressures are down. Volumes are bullish. The next target down is 192.30.

7-21-23: Closed at 201.49. Trade pressures are up. Volumes are bullish. The next target up is 203.48.

8-25-23: Closed at  205.27. Trade pressures are down. Volumes are bullish. The next target down is 196.81.

9-1-23: Closed at 212.36. Trade pressures are up. Volumes are bullish. The next target up is 229.81.

9-8-23: Closed at 206.50. Trade pressures are down. Volumes are bearish. The next target down is 200.22.

9-16-23: Closed at 199.24. Trade pressures are down but rising. Volumes are bearish. The next target down is 192.43.

9-23-23: Closed at 188.45. Trade pressures are down. Volumes are bearish. The next target down is 179.83.

 

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. (RCL) was a new addition to the High-Growth Investments Buy List in the July Growth Investor Monthly Issue. The company provides unique vacation experiences at sea, with cruise ships that offer a variety of dining options, high-quality accommodations, on-board entertainment and excursions on shore. The company’s fleet of 63 ships cruise to more than 270 destinations in more than 60 countries on six continents.

A rebound in the cruising industry post-pandemic led to strong ticket pricing and onboard revenue in the most-recent quarter. Royall Caribbean reported total second-quarter revenue of $3.52 billion and adjusted earnings of $491.7 million, or $1.82 per share. That compared to an earnings per share loss of $2.08 per share in the same quarter a year ago. Analysts expected adjusted earnings of $1.55 per share on $3.41 billion in revenue.

In the wake of its quarterly earnings announcement and anticipation for increased vacation demand going forward, Royal Caribbean upped its outlook for fiscal year 2023. Full-year adjusted earnings per share are now forecast to be between $6.00 and $6.20. So, the analyst community increased its third-quarter earnings estimates and now anticipates 1,246% (?) year-over-year earnings growth. RCL is a Moderately Aggressive buy below $117.

SOM Technicals:

8-25-23: Closed at 99.77. Trade pressures are up but turning down. Volumes are neutral. The next target down is 96.02.

9-1-23: Closed at 97.70.  Trade pressures are down. Volumes are bearish. The next target down is 85.56.

9-8-23: Closed at 97.36. Trade pressures are down but rising. Volumes are bearish. The next target down is 85.56.

9-16-23: Closed at 97.42. Trade pressures are up but turning down. Volumes are neutral. The next target down is 95.74.

9-23-23: Closed at 91.204. Trade pressures are down. Volumes are bearish. The next target down is 85.58.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) may have ignited the correction in AI-related stocks over the bumpy summer months, but the stock has also led the rebound in tech stocks this week with a more than 4% gain. The fact is the technology solutions company continues to benefit from the red-hot AI craze, and it still has stunning forecasted earnings growth.

In fact, the analyst community has increased full-year 2023 earnings estimates 51.7% higher in the past three months. Full-year earnings are now forecast to increase 40.4% year-over-year to $16.58 per share, up from $11.81 per share in 2022. Third- and fourth-quarter earnings estimates have also been revised 16.1% and 38% higher, respectively, over the past three months. As you know, positive analyst revisions typically precede future earnings surprises. SMCI is an Aggressive buy below $335.

SOM Technicals:

7-1-23: Closed at 250.40. Trade pressures are up. Volumes are bullish. The next target up is 253.96.

7-9-23: Closed at 260.89. Trade pressures are up but declining. Volumes are bullish. The next target up is 270.18.

7-15-23: Closed at 296.94. Trade pressures are up. Volumes are bearish. The next target up is 306.85, the prior high.

7-21-23: Closed at 303.15. Trade pressures are up but down near the neutral zone. Volumes are bullish. The next target down is 271.97.

7-29-23: Closed at 334.50. Trade pressures are up. Volumes are bullish. The next target up is 412 but support is 325.00.

8-4-23: Closed at 338.10. Trade pressures are down but rising. Volumes are bullish. The next target up is 412.40.

8-11-23: Closed at 254.43. Trade pressures are down hard. Volumes are bearish. The next target down is 231.88.

8-18-23: Closed at 243.55. Trade pressures are down. Volumes are bearish. The next target down is 215.81. A close above 254 would signal higher.

8-25-23: Closed at 253.96. Trade pressures are down. Volumes are neutral. The next target is 237.43.

9-1-23: Closed at 282.16. Trade pressures are up. Volumes are bullish. The next target up is 312.74.

9-8-23: Closed at 280.66. Trade pressures are down but rising. Volumes are bullish. The next target up is 288.19.

9-16-23: Closed at 249.26. Trade pressures are down. Volumes are bearish. The next target down is 237.74.

9-23-23: Closed at 236.25. Trade pressures are down. Volumes are neutral. The next target down is the prior low at 213.00.

 

Toll Brothers, Inc.

Toll Brothers, Inc. (TOL) was a new addition to the High-Growth Investments Buy List back in July, and if you recall, it’s the top builder of luxury homes in the U.S. The company builds homes and housing communities in 24 states nationwide – and it has benefited from the strongest rise in housing starts in six years and robust demand for new-build homes.

In fact, Toll Brothers released better-than-expected results for its third quarter in fiscal year 2023 on Tuesday evening. Third-quarter earnings increased 51.7% year-over-year to a record $414.8 million, or $3.73 per share, beating analysts’ estimates for earnings of $2.81 per share by 32.7%. The company noted that home sales rose 19% year-over-year to $2.7 billion, which also topped estimates for $2.41 billion.

Toll Brothers inked 2,245 contracts, worth a total of $2.2 billion, in the quarter. The company’s backlog of homes at the end of the quarter stood at 7,295, and its backlog value totaled $7.9 billion. For the fourth quarter, Toll Brothers expects to deliver between 2,650 and 2,750 homes. Full-year home deliveries are anticipated to be between 9,500 and 9,600. TOL is a Conservative buy below $84.

SOM Technicals:

8-25-23: Closed at 77.40. Trade pressures are down. Volumes are bullish. The next target down is 72.12.

9-1-23: Closed at 83.83. Trade pressures are up/ volumes are bullish. The next target up is 85.29.

9-8-23: Closed at 80.92. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 82.49 resistance.

9-16-23: Closed at 77.87. Trade pressure are down. Volumes are bearish. The next target down is 76.24.

9-23-23: Closed at 74.07. Trade pressures are down. Volumes are neutral. The next target down is 72.97.

 

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

Coca-Cola FEMSA SAB de CV

Coca-Cola FEMSA SAB de CV (KOF) is the biggest franchise bottler of Coca-Cola beverages in the world, with a vast portfolio of 134 brands. The company operates out of 56 bottling plants and 249 distribution centers, as well as serves more than 270 million people.

On Tuesday afternoon, Coca-Cola FEMSA released results for its second quarter. The company noted that volume grew 7% year-over-year in the quarter, with one billion units delivered for the first time in a quarter. Second-quarter revenue rose 7.2% year-over-year, while earnings grew 6.5% year-over-year. The company achieved second-quarter revenue of 61,428 million pesos and earnings per ADS of 23.45 pesos.

In U.S. dollar terms, Coca-Cola FEMSA earned $1.32 per share in the second quarter. Analysts expected earnings of $1.25 per share, so KOF posted a 5.6% earnings surprise. KOF is a Conservative buy below $91.

SOM Technicals:

4-28-23: Closed at 84.42. Trade pressures are down, but rising.  Volumes are now neutral.  The next target down is 79.84.

5-07-23: Closed at 88.48. Trade pressures are up. Volumes are bullish. The next target up is 89.08.

5-13-23: Closed at 88.73. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 86.56.

5-20-23: Closed at 88.79. Trade pressures are  down but rising. Volumes are bearish. The next target down is 86.56.

5-27-23: Closed at 85.10. Trade pressures are down. Volumes are bearish. The next target down is 81.89.

6-3-23: Closed at 83.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 76.12.

6-10-23: Closed at 88.61. Trade pressures are up. Volumes are bullish. The next target up is 91.33.

6-20-23: Closed at 88.57. Trade pressures are down into the neutral zone. The next target down is 85.91.

6-24-23: Closed at 86.82. Trade pressures are down. Volumes are  now bearish. The next target down is 83.41.

7-1-23: Closed at 83.31. Trade pressures are down. Volumes are bullish. The next target down is 82.89.

7-9-23: Closed at 81.63. Trade pressures are down but rising. Volumes are bearish.  The next target down is 76.12.

7-15-23: Closed at 84.42. Trade pressures are up. Volumes are bullish. The next target up is 86.08.

7-21-23: Closed at 83.33. Trade pressures are down but rising. Volumes are now neutral. The next target is 82.41.

7-29-23: Closed at 84.96. Trade pressures are up. Volumes are bullish. The next target up is 86.08.

8-4-23: Closed at 81.05. Trade pressures are down but rising. Volumes are bullish. The next target up is 86.08.

8-11-23: Closed at 82.64. Trade pressures are up. Volumes are now neutral. The next target up is 86.08.

8-18-23: Closed at 86.75. Trade pressures are up. Volumes are bullish. The next target up is 94.93.

 

Darden Restaurants, Inc.

Darden Restaurants, Inc. (DRI) owns and operates well-known, full-service restaurants in the U.S., including the Olive Garden, LongHorn Steakhouse, Yard House, Ruth’s Chris Steak House, Cheddar’s Scratch Kitchen, The Capital Grille, Season 52, Eddie V’s and Bahama Breeze. The company welcomes more than 400 million guests to its restaurants each year.

In June, Darden Restaurants reported results for its fourth quarter in fiscal year 2023. The company achieved total sales of $2.8 billion and earnings of $2.61 per share, which represented 6.4% year-over-year sales growth and 15.5% year-over-year earnings growth. The consensus estimate called for earnings of $2.54 per share on $2.77 billion in sales.

Darden Restaurants also provided a strong outlook for its fiscal year 2024, as the company expects total sales between $11.5 billion and $11.6 billion. That’s up from $10.5 billion in fiscal year 2023. The company will also pay a quarterly dividend of $1.31 per share on Tuesday, August 1, to all shareholders of record on July 10. The stock has a 3.1% dividend yield. DRI is a Conservative buy below $179.

SOM Technicals:

7-29-23: Closed at 167.52. Trade pressures are up. Volumes are neutral. The next target up is the prior high at 173.06.

8-4-23: Closed at 162.45. Trade pressures are don. Volumes are bearish. The next target down is 157.95.

8-11-23: Closed at 160.49. Trade pressures are down. Volumes are bearish. The next target down is 157.96.

8-18-23: Closed at 158.47. Trade pressures are down. Volumes are bearish. The next target down is 148.61.

 

First Solar, Inc.

First Solar, Inc. (FSLR) is one of the biggest solar manufacturers in the world, producing thin film photovoltaic (PV) modules. Interestingly, its manufacturing operations are located primarily in the U.S., with two facilities in Ohio, and a third factory is set to come online this year. First Solar expects to have total annual manufacturing capacity of more than 20 gigawatts by 2025.

On Thursday afternoon, First Solar announced better-than-expected quarterly results. During the second quarter, total sales increased 30.5% year-over-year to $810.67 million. Second-quarter earnings soared 205.7% year-over-year to $170.58 million, or $1.59 per share, compared to $55.81 million, or $0.52 per share, in the same quarter a year ago. The analyst community expected earnings of $0.96 per share on sales of $720.55 million, so First Solar posted a 65.6% earnings surprise and a 12.5% sales surprise.

Looking forward to fiscal year 2023, First Solar still expects full-year sales between $3.4 billion and $3.6 billion and earnings per share between $7.00 and $8.00. That compares to sales of $2.62 billion and an earnings per share loss of $0.41 in fiscal year 2022. FLSR is a Moderately Aggressive buy below $248.

SOM Technicals:

4-28-23: Closed at 182.63. Trade pressures are down Volumes are now neutral. The next target down is 178.66.

5-7-23: Closed at 178.60. Trade pressures are down but rising. volumes are now neutral. The next target up is 181.59.

5-13-23: Closed at the 231.69, up 50.00. Trade pressures are up. Volumes are a high volume bullish. The next target up is 249.63. 

5-20-23: Closed at 203.63, retracing the large move up. Trade pressures are down. Volumes are neutral. Maybe going to fill the gap.

5-27-23: Closed at 201.42. Trade pressures are up. Volumes are neutral. The next target up is 211.75.

6-3-23: Closed at 206.60. Trade pressures are up. Volumes are neutral. The next target up is 212.35.

6-10-23: Closed at 192.10. Trade pressures are down but rising. Volumes are bearish. The next target down is 181.75.

Closed at 187.15. Trade pressures are down. Volumes are bearish. The next target down is 176.81.

6-24-23: Closed at 184.52. Trade pressures are down. Volumes are bearish. The next target down is 172.15.

7-29-23: Closed at 208.40. Trade pressures are up. Volumes are bearish after the break to the upside. The next target down is 199.10.

8-4-23: Closed at 194.38. Trade pressures are down but rising. Volumes are bearish. The next target down is 186.09.

8-11-23: Closed at 204.87. Trade pressures are up. Volumes are bullish. The next target down is 186.09.

8-18-23: Closed at 181.91. Trade pressures are down. Volumes are bearish. The next target down is 169.46.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) 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. The company also offers sweet potatoes and vegetable products. And the company’s latest results revealed that its potato products remain in top demand.

During its fourth quarter in fiscal year 2023, adjusted earnings per share jumped 91% year-over-year to $1.22 per share and sales rose 47% year-over-year to $1.7 billion. The consensus estimate called for adjusted earnings of $1.05 per share and sales of $1.66 billion, so Lamb Weston posted a 16.2% earnings surprise and a slight sales surprise.

The fourth quarter capped off a record year for the company in terms of earnings and sales. For its fiscal year 2023, Lamb Weston achieved total sales of $5.35 billion and adjusted earnings of $679 million, or $4.68 per share. That represented 31% annual sales growth and 141.6% annual earnings growth. Analysts expected full-year earnings of $4.49 per share on $5.32 billion in sales. LW is a Conservative buy below $109.

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.

4-28-23: Closed at 111.81. Trade pressures are up . Volumes are bullish. The next target up is 117.72.

5-07-23: Closed at 112.09. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 107.56.

5-13-23: Closed at 114.28. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-20-23: Closed at 114.48. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-27-23: Closed at 109.45. Trade pressures are down but rising. Volumes are now neutral. The next target down is 104.38.

6-3-23: Closed at 113.27. Trade pressures are up. Volumes are bullish. The next target up is a retest of the 115.34 high.

6-10-23: Closed at 113.62. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is the prior high at 115.34.

6-20-23: Closed at 114.18. Trade pressures are up but turning down to the neutral zone. Volumes are neutral. The next target down is 110.05.

6-24-23: Closed at 114.69. Trade pressures are up. Volumes are bearish. The next target down is 111.45.

7-1-23: Closed at 114.95. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

7-9-23: Closed at 112.62. Trade pressures are down. Volumes are bearish. The next target down is 110.55.

7-15-23: Closed at 112.71. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 114.06.

7-21-23: Closed at 112.96. Trade pressures are up. Volumes are bullish. The next target down is 112.11.

7-29-23: Closed at 102.08. Trade pressures are down. Volumes are neutral. The next target down is 95.51.

8-4-23: Closed at 101.94. Trade pressures are down but rising. Volumes are bearish. The next target down is 95.51.

8-11-23: Closed at 96.78. Trade pressures are down. Volumes are  bearish. The next target down is 94.14.

8-18-23: Closed at 94.75. Trade pressures are down. Volumes are bearish. The next target down is 81.99.

 

Super Micro Computer

Super Micro Computer (SMCI) is a well-known, global leader in high-performance server technology solutions. The company primarily provides a wide range of servers, storage, motherboards, workstations and networking solutions, as well as server management software.

Recently, Super Micro Computer provided preliminary results for its fourth quarter in fiscal year 2023. Fourth-quarter sales are expected to be between $2.15 billion and $2.18 billion, nicely higher than company guidance for $1.7 billion to $1.9 billion. Fourth-quarter earnings per share are also anticipated to be between $3.35 and $3.45, compared to previous guidance for $2.21 to $2.71.

Super Micro Computer is scheduled to report final fourth-quarter results on August 8, and analysts have increased earnings estimates in the wake of its preliminary results. The current consensus estimate calls for earnings of $2.84 per share on $1.95 billion in sales, which translates to 8.4% year-over-year earnings growth and 19.5% year-over-year revenue growth. SMCI is an Aggressive buy below $444.

SOM Technicals:

7-1-23: Closed at 250.40. Trade pressures are up. Volumes are bullish. The next target up is 253.96.

7-9-23: Closed at 260.89. Trade pressures are up but declining. Volumes are bullish. The next target up is 270.18.

7-15-23: Closed at 296.94. Trade pressures are up. Volumes are bearish. The next target up is 306.85, the prior high.

7-21-23: Closed at 303.15. Trade pressures are up but down near the neutral zone. Volumes are bullish. The next target down is 271.97.

7-29-23: Closed at 334.50. Trade pressures are up. Volumes are bullish. The next target up is 412 but support is 325.00.

8-4-23: Closed at 338.10. Trade pressures are down but rising. Volumes are bullish. The next target up is 412.40.

8-11-23: Closed at 254.43. Trade pressures are down hard. Volumes are bearish. The next target down is 231.88.

8-18-23: Closed at 243.55. Trade pressures are down. Volumes are bearish. The next target down is 215.81. A close above 254 would signal higher.

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

Builders FirstSource, Inc.

Builders FirstSource, Inc. (BLDR) is making its first appearance on the Top Stocks list, given that the homebuilding industry in the U.S. is heating up. You may recall that Builders FirstSource is a leading provider of building products, operating about 550 locations in 39 states. As an example, the company provides everything from wall panels, roof and floor trusses, stairs and trim to drywall, doors, rails, vinyl windows and siding.

The company’s first-quarter results were an early indication that the homebuilding industry was improving in the U.S.: Builders FirstSource reported adjusted earnings of $410.3 million, or $2.96 per share, on $3.88 billion in sales, which exceeded analysts’ expectations for earnings of $1.51 per share and sales of $3.58 billion. So, BLDR posted a 96% earnings surprise and an 8.4% sales surprise.

Looking forward to the second quarter, the analyst community has increased earnings estimates by 33.5% in the past two months. Second-quarter earnings are now expected to come in at $2.47 per share, compared to previous estimates for $1.85 per share. As you know, positive analyst revisions typically precede future earnings surprises. BLDR is a Moderately Aggressive buy below $155.

SOM Technicals:

7-1-23: Closed at 136.00. Trade pressures are up. Volumes are bullish. The next target up is 146.85.

7-9-23: Closed at 133.10. Trade pressures are down. Volumes are bearish. The next target down is 127.26.

7-15-23: Closed at 141.16. Trade pressures are up. Volumes are bullish. The next target up is 142.01.

7-21-23: Closed at 138.73. Trade pressures are down. Volumes are bearish. The next target down is 135.75.

 

Coca-Cola FEMSA SAB de CV

Coca-Cola FEMSA Sab de CV (KOF) is the biggest Coca-Cola franchise bottler in the world, operating 49 bottling plants and 268 distribution centers in 10 countries in Latin America. And it has a vast portfolio of brands, including Coca-Cola, Fanta, Sprite, Powerade, Vitamin Water, Monster and Fuze Tea.

The stock is making its third-straight appearance on the Top Stocks list this month – and for good reason: The analyst community continues to revise its earnings estimates higher. For the second quarter, earnings are now expected to grow 16.4% year-over-year to $1.28 per share. That’s up from previous estimates for only $1.17 per share just two months ago.

I should add that KOF has a history of posting positive earnings surprises, as it has achieved an average 26.8% earnings surprise in the past four quarters. Second-quarter sales are also forecast to rise 19.4% year-over-year to $3.42 billion. KOF is a Conservative buy below $89.

SOM Technicals:

4-28-23: Closed at 84.42. Trade pressures are down, but rising.  Volumes are now neutral.  The next target down is 79.84.

5-07-23: Closed at 88.48. Trade pressures are up. Volumes are bullish. The next target up is 89.08.

5-13-23: Closed at 88.73. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 86.56.

5-20-23: Closed at 88.79. Trade pressures are  down but rising. Volumes are bearish. The next target down is 86.56.

5-27-23: Closed at 85.10. Trade pressures are down. Volumes are bearish. The next target down is 81.89.

6-3-23: Closed at 83.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 76.12.

6-10-23: Closed at 88.61. Trade pressures are up. Volumes are bullish. The next target up is 91.33.

6-20-23: Closed at 88.57. Trade pressures are down into the neutral zone. The next target down is 85.91.

6-24-23: Closed at 86.82. Trade pressures are down. Volumes are  now bearish. The next target down is 83.41.

7-1-23: Closed at 83.31. Trade pressures are down. Volumes are bullish. The next target down is 82.89.

7-9-23: Closed at 81.63. Trade pressures are down but rising. Volumes are bearish.  The next target down is 76.12.

7-15-23: Closed at 84.42. Trade pressures are up. Volumes are bullish. The next target up is 86.08.

7-21-23: Closed at 83.33. Trade pressures are down but rising. Volumes are now neutral. The next target is 82.41.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) 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. The company also offers sweet potatoes and vegetable products.

Lamb Weston is scheduled to announce results for its fourth quarter and fiscal year 2023 on July 25 – and based on analysts’ recent revisions, the company is gearing up for another quarterly earnings surprise. Analysts have upped earnings estimates by 15.4% in the past three months.

Fourth-quarter earnings are now forecast to soar 61.5% year-over-year to $1.05 per share, up from $0.65 per share in the same quarter a year ago. Sales are expected to increase 44.3% year-over-year to $1.66 billion. Lamb Weston is also anticipated to achieve 115.9% annual earnings growth and 30% annual sales growth in its fiscal year 2023. LW is a Conservative buy below $123.

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.

4-28-23: Closed at 111.81. Trade pressures are up . Volumes are bullish. The next target up is 117.72.

5-07-23: Closed at 112.09. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 107.56.

5-13-23: Closed at 114.28. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-20-23: Closed at 114.48. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-27-23: Closed at 109.45. Trade pressures are down but rising. Volumes are now neutral. The next target down is 104.38.

6-3-23: Closed at 113.27. Trade pressures are up. Volumes are bullish. The next target up is a retest of the 115.34 high.

6-10-23: Closed at 113.62. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is the prior high at 115.34.

6-20-23: Closed at 114.18. Trade pressures are up but turning down to the neutral zone. Volumes are neutral. The next target down is 110.05.

6-24-23: Closed at 114.69. Trade pressures are up. Volumes are bearish. The next target down is 111.45.

7-1-23: Closed at 114.95. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

7-9-23: Closed at 112.62. Trade pressures are down. Volumes are bearish. The next target down is 110.55.

7-15-23: Closed at 112.71. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 114.06.

7-21-23: Closed at 112.96. Trade pressures are up. Volumes are bullish. The next target down is 112.11.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

PWR shares have soared higher of late, rising more than 10% in June. The stock is now up about 38% year-to-date, as the company continues to experience strong demand for its solutions. As a result, I’m anticipating a strong second-quarter earnings report in early August. The current consensus estimate calls for earnings of $1.64 per share on $4.71 billion in revenue, which compares to earnings of $1.54 per share and revenue of $4.23 billion in the same quarter a year ago.

I should add that Quanta Services plans to pay a quarterly dividend of $0.08 per share on July 14. All shareholders of record on Monday, July 3, will receive the dividend. The stock has a 0.17% dividend yield. PWR is a Conservative buy below $211.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

4-28-23: Closed at 169.64. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 170.39.

5-7-23: Closed at 171.07. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 171.94, the prior high.

5-13-23: Closed at 173.85. Trade pressures are up. Volumes are now bearish. The next target up is 179.82.

5-20-23: Closed at 171.72. Trade pressures are up. Volumes are neutral. The next target up is 179.82.

5-27-23: Closed at 174.00. Trade pressures are up. Volumes are bullish. The next target up is 179.82.

6-3-23: Closed at 180.08. Trade pressures are up but declining. Volumes are bullish. The next target up is 181.83.

6-10-23: Closed at 182.83. Trade pressures are up. Volumes are now neutral. The next target down is 179.63.

6-20-23: Closed at 185.391. Trade pressures are up but declining. Volumes are bullish. The next target down is 181.95.

6-24-23: Closed at 186.62. Trade pressures are up but declining. Volumes are neutral. The next target down is 181.06.

7-1-23: Closed at 196.45. Trade pressures are up. Volumes are bullish. The next target up is 197.20.

7-9-23: Closed at 193.60. Trade pressures are down. Volumes are neutral. The next target down is 186.83.

7-15-23: Closed at 196.12. Trade pressures are down. Volumes are bullish. The next target down is 192.30.

7-21-23: Closed at 201.49. Trade pressures are up. Volumes are bullish. The next target up is 203.48.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) was a new addition to the High-Growth Investments Buy List in June. The company is a well-known, global leader in high-performance server technology solutions, as it provides a wide range of server, storage, motherboards, workstations and networking solutions, as well as server management software.

SMCI shares have been on a tear lately, as the company continues to ship more and more of its solutions around the world. In fact, for its fourth quarter in fiscal year 2023, Super Micro Computer expects earnings per share between $2.21 and $2.71 and total sales between $1.7 billion and $1.9 billion. In turn, analysts have increased fourth-quarter earnings estimates by nearly 22% in the past three months.

For its fiscal year 2023, Super Micro Computer also anticipates total sales between $6.6 billion and $6.8 billion and earnings per share between $10.50 and $11.00. That compares to sales of $5.2 billion and earnings of $5.65 per share in fiscal year 2022. SMCI is an Aggressive buy below $337.

SOM Technicals:

7-1-23: Closed at 250.40. Trade pressures are up. Volumes are bullish. The next target up is 253.96.

7-9-23: Closed at 260.89. Trade pressures are up but declining. Volumes are bullish. The next target up is 270.18.

7-15-23: Closed at 296.94. Trade pressures are up. Volumes are bearish. The next target up is 306.85, the prior high.

7-21-23: Closed at 303.15. Trade pressures are up but down near the neutral zone. Volumes are bullish. The next target down is 271.97.

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

Coca-Cola FEMSA SAB de CV

Coca-Cola FEMSA Sab de CV (KOF) is the biggest Coca-Cola franchise bottler in the world, operating 49 bottling plants and 268 distribution centers in 10 countries in Latin America. And it has a vast portfolio of brands, including Coca-Cola, Fanta, Sprite, Powerade, Vitamin Water, Monster and Fuzetea. The stock is making its second-straight appearance on the Top Stocks list this month.

During its first quarter in fiscal year 2023, Coca-Cola FEMSA achieved double-digit earnings, revenue and operating earnings growth. First-quarter earnings per share were 0.23 pesos and earnings per ADS were 18.65 pesos. Total revenue rose 12% year-over-year 57.36 billion pesos. In U.S. dollars, Coca-Cola FEMSA reports earnings of $1.03 per share, which topped estimates for $0.91 per share by 13.2%.

Looking forward to the second quarter, the analyst community expects earnings to grow 16.4% year-over-year to $1.28 per share. Analysts have also increased earnings estimates by 16.4% in the past three months, which bodes well for another quarterly earnings surprise. KOF is a Conservative buy below $91.

SOM Technicals:

4-28-23: Closed at 84.42. Trade pressures are down, but rising.  Volumes are now neutral.  The next target down is 79.84.

5-07-23: Closed at 88.48. Trade pressures are up. Volumes are bullish. The next target up is 89.08.

5-13-23: Closed at 88.73. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 86.56.

5-20-23: Closed at 88.79. Trade pressures are  down but rising. Volumes are bearish. The next target down is 86.56.

5-27-23: Closed at 85.10. Trade pressures are down. Volumes are bearish. The next target down is 81.89.

6-3-23: Closed at 83.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 76.12.

6-10-23: Closed at 88.61. Trade pressures are up. Volumes are bullish. The next target up is 91.33.

6-20-23: Closed at 88.57. Trade pressures are down into the neutral zone. The next target down is 85.91.

6-24-23: Closed at 86.82. Trade pressures are down. Volumes are  now bearish. The next target down is 83.41.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) 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. And based on recent revisions to earnings estimates, analysts are betting that folks’ insatiable appetite for Lamb Weston’s French fries and other products will persist.

For its fourth quarter in fiscal year 2023, earnings are expected to increase 60% year-over-year to $1.04 per share. Analysts have also upped earnings estimates from $0.92 per share two months ago. Full-year earnings estimates have been bumped up by 14.3% in the past two months, with analysts calling for 115.4% annual earnings growth. As you know, positive analyst revisions typically precede future earnings surprises.

I should also add that in the wake of these positive analyst revisions, LW shares rallied to a new all-time high around mid-May. The stock has consolidated these gains recently, which makes LW a great buy right now. LW is a Conservative buy below $117.

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.

4-28-23: Closed at 111.81. Trade pressures are up . Volumes are bullish. The next target up is 117.72.

5-07-23: Closed at 112.09. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 107.56.

5-13-23: Closed at 114.28. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-20-23: Closed at 114.48. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-27-23: Closed at 109.45. Trade pressures are down but rising. Volumes are now neutral. The next target down is 104.38.

6-3-23: Closed at 113.27. Trade pressures are up. Volumes are bullish. The next target up is a retest of the 115.34 high.

6-10-23: Closed at 113.62. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is the prior high at 115.34.

6-20-23: Closed at 114.18. Trade pressures are up but turning down to the neutral zone. Volumes are neutral. The next target down is 110.05.

6-24-23: Closed at 114.69. Trade pressures are up. Volumes are bearish. The next target down is 111.45.

 

First Solar, Inc.

First Solar, Inc. (FSLR) is one of the biggest solar manufacturers in the world, yet it doesn’t have any manufacturing operations in China. The company’s manufacturing operations are actually based primarily in the U.S., as it has facilities in Ohio – two currently in the state, one set to come online later this year, and a fourth factory to be commissioned in the southeast U.S. in 2025.

With the Biden administration’s green push, demand for solar energy is incredibly strong right now. As a result, First Solar can finally make some money, and it is making the transition from negative to positive earnings – a feat it achieved in the latest quarter.

First-quarter earnings surged to $0.40 per share, up from a $0.41 per share loss in the same quarter a year ago. Sales increased 49.4% year-over-year to $548.29 million. Company management also noted that it expects “improved profitability in 2023 and beyond.” Full-year 2023 earnings are forecast to be between $7.00 and $8.00, which compares to a loss of $0.41 per share in 2022. FSLR is a Moderately Aggressive buy below $239.

SOM Technicals:

4-28-23: Closed at 182.63. Trade pressures are down Volumes are now neutral. The next target down is 178.66.

5-7-23: Closed at 178.60. Trade pressures are down but rising. volumes are now neutral. The next target up is 181.59.

5-13-23: Closed at the 231.69, up 50.00. Trade pressures are up. Volumes are a high volume bullish. The next target up is 249.63. 

5-20-23: Closed at 203.63, retracing the large move up. Trade pressures are down. Volumes are neutral. Maybe going to fill the gap.

5-27-23: Closed at 201.42. Trade pressures are up. Volumes are neutral. The next target up is 211.75.

6-3-23: Closed at 206.60. Trade pressures are up. Volumes are neutral. The next target up is 212.35.

6-10-23: Closed at 192.10. Trade pressures are down but rising. Volumes are bearish. The next target down is 181.75.

Closed at 187.15. Trade pressures are down. Volumes are bearish. The next target down is 176.81.

6-24-23: Closed at 184.52. Trade pressures are down. Volumes are bearish. The next target down is 172.15.

 

Novo Nordisk A/S

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 Denmark-based company’s leading treatment is Ozempic, and its sales rose 45% in 2022. Novo Nordisk anticipates strong Ozempic, as well as Wegovy, sales in 2023.

Just this week, Novo Nordisk revealed that its oral weight loss drug is nearly as effective as its weight loss injections. Wegovy injections have the same active ingredient as Novo Nordisk’s oral version of the drug semaglutide, which also helped folks lose weight. Results from the phase 3a trial showed that those taking 50 mg of the oral treatment achieved 15.1% weight loss, or 17.4% if everyone in the trial had adhered to the treatment.

Given the strength of its current business and the company’s growing pipeline of treatments, analysts have increased earnings estimates for the current quarter. Second-quarter earnings are now expected to rise 59% year-over-year to $1.24 per share, up from previous estimates for $1.07 per share. Second-quarter sales are forecast to grow 42% year-over-year to $8.03 billion. NVO is a Conservative buy below $175.

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.

4-28-23: Closed at 167.09. Trade pressures are up. Volumes are now neutral. The next target down is 159.13.

5-7-23: Closed at 163.24. Trade pressures are down but rising. Volumes are neutral. The next target up is 167.92.

5-13-23: Closed at 171.27. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

5-20-23: Closed at 170.54. Trade pressures are up. Volumes are bullish. The next target up is 172.97.

5-27-23: Closed at 162.23. Trade pressures are down but rising. Volumes are bearish. The next target down is 159.13.

6-3-23: Closed at 157.14. Trade pressures are down. Volumes are now bullish. The next target down is 150.57.

6-10-23: Closed at 158.05. Trade pressures are down into the  neutral zone. Volumes are neutral. The next target down is 153.05.

6-20-23: Closed at 159.698. Trade pressures are down. Volumes are bullish. The next target down is 156.49.

6-24-23: Closed at 159.07. Trade pressures are down. Volumes are bearish. The next target down is 156.49.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

For the first quarter in fiscal year 2023, Quanta Services reported adjusted earnings of $1.24 per share on revenue of $4.43 billion. The analyst community expected first-quarter adjusted earnings of $1.13 per share and revenue of $4.08 billion. Quanta Services also ended the quarter with a record backlog of $25.3 million.

This week, Quanta Services announced its plans to pay a quarterly dividend of $0.08 per share on July 14. All shareholders of record on July 3 will receive the dividend. The stock has a 0.2% dividend yield. The company also introduced a new stock buyback program, planning to repurchase up to $500 million of its outstanding shares. PWR is a Conservative buy below $186.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

4-28-23: Closed at 169.64. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 170.39.

5-7-23: Closed at 171.07. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 171.94, the prior high.

5-13-23: Closed at 173.85. Trade pressures are up. Volumes are now bearish. The next target up is 179.82.

5-20-23: Closed at 171.72. Trade pressures are up. Volumes are neutral. The next target up is 179.82.

5-27-23: Closed at 174.00. Trade pressures are up. Volumes are bullish. The next target up is 179.82.

6-3-23: Closed at 180.08. Trade pressures are up but declining. Volumes are bullish. The next target up is 181.83.

6-10-23: Closed at 182.83. Trade pressures are up. Volumes are now neutral. The next target down is 179.63.

6-20-23: Closed at 185.391. Trade pressures are up but declining. Volumes are bullish. The next target down is 181.95.

6-24-23: Closed at 186.62. Trade pressures are up but declining. Volumes are neutral. The next target down is 181.06.

High-Growth Investments

Coca-Cola FEMSA Sab de CV

Coca-Cola FEMSA Sab de CV (KOF) was a new addition to the High-Growth Investments Buy List in April. If you recall, the company is the biggest Coca-Cola franchise bottler in the world, operating 49 bottling plants and 268 distribution centers in 10 countries in Latin America. And it has a vast portfolio of brands, including Coca-Cola, Fanta, Sprite, Powerade, Vitamin Water, Monster and Fuze Tea.

The company hasn’t confirmed the date for its first-quarter earnings announcement, but the analyst community has been busy preparing for the report. Earnings estimates have been revised 5.5% higher in the past two months, which bodes well for a fourth-straight quarterly earnings surprise.

First-quarter earnings are forecast to grow 43.3% year-over-year to $0.96 per share, up from $0.67 per share in the same quarter a year ago. Revenue is expected to rise 22.3% year-over-year to $3.05 billion. KOF is a Conservative buy below $90.

SOM Technicals:

4-28-23: Closed at 84.42. Trade pressures are down, but rising.  Volumes are now neutral.  The next target down is 79.84.

5-07-23: Closed at 88.48. Trade pressures are up. Volumes are bullish. The next target up is 89.08.

5-13-23: Closed at 88.73. Trade pressures are up but rolling over. Volumes are now neutral. The next target down is 86.56.

5-20-23: Closed at 88.79. Trade pressures are  down but rising. Volumes are bearish. The next target down is 86.56.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) 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. And based on the company’s latest results, folks continue to have an insatiable appetite for its frozen food offerings, especially French fries.

During its third quarter in fiscal year 2023, sales increased 31% year-over-year to $1.25 billion, and adjusted earnings soared 125% year-over-year to $207 million, or $1.43 per share. Analysts expected earnings of $0.99 per share on $1.16 billion in sales, so Lamb Weston posted a 44.4% earnings surprise and a 7.8% sales surprise.

Lamb Weston also provided positive guidance for its fiscal year 2023: Sales are forecast to be between $5.25 billion and $5.35 billion, and adjusted earnings per share are expected to be between $4.35 and $4.50. So, the analyst community has increased fourth-quarter and full-year earnings estimates over the past month. LW remains a Conservative buy below $119.

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.

4-28-23: Closed at 111.81. Trade pressures are up . Volumes are bullish. The next target up is 117.72.

5-07-23: Closed at 112.09. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 107.56.

5-13-23: Closed at 114.28. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

5-20-23: Closed at 114.48. Trade pressures are up. Volumes are bullish. The next target up is 117.72.

 

First Solar, Inc.

First Solar, Inc. (FSLR) was added to the High-Growth Investments Buy List in the April Monthly Issue, as the company has been making the transition from negative to positive earnings. Well, the solar manufacturer released first-quarter results after the stock market closed on Thursday, and results showed continued earnings and sales growth.

For the first quarter, First Solar reported earnings surged to $0.40 per share, up from a $0.41 per share loss in the same quarter a year ago. First-quarter sales increased 49.4% year-over-year to $548.29 million. The consensus estimate called for earnings of $0.93 per share on $718.44 million in sales.

Company management commented, “We entered 2023 in a significantly stronger commercial, operational, and financial position than the previous year, setting the stage for growth and improved profitability in 2023 and beyond.” So, the company left its full-year guidance unchanged.

For fiscal year 2023, First Solar anticipates total sales between $3.4 billion and $3.6 billion and earnings per share between $7.00 and $8.00. That compares to sales of $2.39 billion and an earnings per share loss of $0.37 in fiscal year 2022. Clearly, First Solar still has stunning forecasted earnings and sales growth. FSLR is a Moderately Aggressive buy below $215.

SOM Technicals:

4-28-23: Closed at 182.63. Trade pressures are down Volumes are now neutral. The next target down is 178.66.

5-7-23: Closed at 178.60. Trade pressures are down but rising. volumes are now neutral. The next target up is 181.59.

5-13-23: Closed at the 231.69, up 50.00. Trade pressures are up. Volumes are a high volume bullish. The next target up is 249.63. 

5-20-23: Closed at 203.63, retracing the large move up. Trade pressures are down. Volumes are neutral. Maybe going to fill the gap.

 

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 company’s leading treatment is Ozempic, and its sales rose 45% in 2022. Novo Nordisk anticipates strong Ozempic, as well as Wegovy, sales in 2023.

In fact, Novo Nordisk recently provided an early look at its first quarter and increased its guidance for fiscal year 2023. The company noted that sales rose 25% year-over-year and its operating profit grew 28% year-over-year in the first quarter. Novo Nordisk is scheduled to announce final first-quarter results on Thursday, May 4.

So, now, Novo Nordisk anticipates full-year sales growth between 24% and 30% and operating profit growth between 28% and 34%. That compares to previous estimates for 13% to 19% annual sales growth and 13% to 19% annual operating profit growth. NVO is a Conservative buy below $179.

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.

4-28-23: Closed at 167.09. Trade pressures are up. Volumes are now neutral. The next target down is 159.13.

5-7-23: Closed at 163.24. Trade pressures are down but rising. Volumes are neutral. The next target up is 167.92.

5-13-23: Closed at 171.27. Trade pressures are up. Volumes are bullish. The next target up is 177.65.

5-20-23: Closed at 170.54. Trade pressures are up. Volumes are bullish. The next target up is 172.97.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G. In fact, the company achieved record earnings and revenue in fiscal year 2022.

For fiscal year 2023, Quanta Services anticipates that demand for its products and services will persist, and it provided a strong outlook. Full-year revenue is expected to be between $18.40 billion and $18.90 billion, and adjusted earnings per share are forecast to be between $6.75 and $7.25.

Quanta Services is scheduled to release first-quarter results before the stock market opens on Thursday, May 4. The current consensus estimate calls for earnings of $1.13 per share on $4.08 billion in revenue, which compares to earnings of $1.37 per share and revenue of $3.97 billion in the first quarter of 2022. PWR is a Conservative buy below $182.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

4-28-23: Closed at 169.64. Trade pressures are up into the neutral zone. Volumes are bullish. The next target up is 170.39.

5-7-23: Closed at 171.07. Trade pressures are down but rising into the neutral zone. Volumes are bullish. The next target up is 171.94, the prior high.

5-13-23: Closed at 173.85. Trade pressures are up. Volumes are now bearish. The next target up is 179.82.

5-20-23: Closed at 171.72. Trade pressures are up. Volumes are neutral. The next target up is 179.82.

 

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.

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) offers electronic design automation (EDA) software and hardware, which play an integral role in the electronics design chain. Last year turned out to be a record year for the company: Full-year 2022 revenue came in at $3.56 billion, while earnings were $1.17 billion, or $4.27 per share, which represented 19.2% annual revenue growth and 27.8% annual earnings growth.

CDNS is a Conservative buy below $214.

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.

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world. During its second quarter in fiscal year 2023, sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.

LW is a Conservative buy below $107.

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.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. Fourth-quarter adjusted earnings soared 290.4% year-over-year to $3.1 billion, or $6.65 per share. Analysts expected adjusted earnings of $5.67 per share, so MPC posted a 17.3% earnings surprise.

MPC is a Conservative buy below $137.

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.

 

Novo Nordisk AS

Novo Nordisk AS (NVO) develops treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. For the fourth quarter, Novo Nordisk reported earnings jumped 26% year-over-year to DKK 6.02 per share. In U.S. dollar terms, the company achieved fourth-quarter earnings of $0.86 per share, which beat analysts’ estimates for $0.84 per share.

NVO is a Conservative buy below $152.

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.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. For the fourth quarter, Quanta Services reported adjusted earnings of $1.68 per share and revenue of $4.42 billion. That topped analysts’ estimates for fourth-quarter earnings of $1.60 per share on $4.28 billion in revenue.

PWR is a Conservative buy below $176.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

2-24-23: Closed at 160.64. Trade pressures are up. Volumes are neutral. The next target up is 163.65.

3-4-23: Closed at 163.12. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 168.75.

3.11.23: Closed at 157.35. Trade pressures are down. Volumes are bearish. The next target down is 148.96.

3-17-23: Closed at 155.10. Trade pressures are in the neutral zone. Volumes are bearish. The next target down is 148.96.

3-24-23: Closed at 160.78. Trade pressures are down. Volumes are bullish. The next target down is 156.74.

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

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) was a new addition to the High-Growth Investments Buy List in January. If you recall, the company is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world.

In early January, Lamb Weston released results for its second quarter in fiscal year 2023: Sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.

In the wake of the second-quarter earnings beat, analysts have increased third-quarter earnings estimates by 30.7% in the past month. As you know, positive analyst revisions typically precede future earnings surprises. LW is a Conservative buy below $105.

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.

---

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges. The company has experienced strong demand for its products recently, which should be apparent in next week’s earnings report.

Marathon Petroleum will announce fourth-quarter earnings and sales results on Tuesday, January 31, before the stock market opens. Fourth-quarter earnings are forecast to surge 336.2% year-over-year to $5.67 per share, up from $1.30 per share in the same quarter a year ago. Sales are expected to rise 4.2% year-over-year to $37.09 billion. MPC is a Conservative buy below $146.

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

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) provides energy exploration and petrochemical manufacturing services, with energy and chemical assets around the world. The company also has operations in strategic energy-producing regions in the U.S., including the Permian Basin, Rocky Mountains and the Gulf of Mexico.

Occidental Petroleum is scheduled to release fourth-quarter results on February 27. The analyst community expects earnings of $1.85 per share and revenue of $8.7 billion, which translates to 25% year-over-year earnings growth and 8.6% year-over-year revenue growth. Estimates have fluctuated a bit over the past three months, but Occidental Petroleum has a positive earnings surprise history. OXY is a Moderately Aggressive buy below $77.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

1-29-23: Closed at 66.78. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-3-23: Closed at 61.24. Trade pressures are down. Volumes are bearish. The next target down is 59.65.

2-11-23: Closed at 65.63. Trade pressures are up. Volumes are bullish. The next target up is 69.04.

2-18-23: Closed at 60.73. Trade pressures are down. Volumes are now neutral. The next target down is 55.38. a close above 61.74 would signal higher.

 

Quanta Services, Inc.

Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.

Quanta Services is expected to post fourth-quarter results in late February. Fourth-quarter earnings are forecast to grow 3.9% year-over-year to $1.60 per share, up from $1.54 per share in the same quarter a year ago. Analysts have also increased earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. Fourth-quarter revenue is expected to rise 9% year-over-year to $4.28 billion. PWR is a Conservative buy below $165.

SOM Technicals:

7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The  next target down is 133.65.

8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.

8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.

8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.

1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.

2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.

2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.

2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day.

Valero announced spectacular fourth-quarter results on Thursday. Fourth-quarter adjusted earnings surged 223.9% year-over-year to $3.2 billion, or $8.45 per share, compared to $988 million, or $2.41 per share, in the same quarter a year ago. Analysts expected adjusted earnings of $7.37 per share, so Valero posted a 14.7% earnings surprise.

For full-year 2022, Valero achieved adjusted earnings of $11.6 billion, or $29.16 per share. That was up from $1.2 billion, or $2.81 per share, in 2021, and represented 866.7% annual earnings growth. These results also exceeded expectations for adjusted earnings of $28.01 per share. VLO is a Conservative buy below $160.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up but declining. Volumes are bullish.. The next target up is 159.05.

1-29-23: Closed at 143.21. Trade pressures are up, but declining.  Volumes are now bearish. The next target up is 158.91.

2-3-23: Closed at 131.73. Trade pressures are down. Volumes are bearish. The next target down is 122.71.

2-11-23: Closed at 140.73. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 145.66.

2-18-23: Closed at 129.61. Trade pressures are down. Volumes are now neutral. The next target down is 122.71. A close above 132.61 would signal higher.

 

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

ConocoPhillips

ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world. In 2021, the company achieved total production of 1.57 million barrels of oil equivalent per day (MBoed), and it ended the year with proved reserves of 6.1 billion barrels of oil equivalent. With an extensive energy portfolio that spans 13 countries, ConocoPhillips also transports oil and natural gas around the world through its pipelines, as well as on tankers, trucks and rails.

The fourth-quarter is anticipated to cap off another stunning year for the company. Fourth-quarter earnings are forecast to grow 41.9% year-over-year to $3.22 per share. In turn, ConocoPhillips is expected to achieve full-year earnings of $14.38 per share, or 139.3% annual earnings growth.

I should add that ConocoPhillips has paid a dividend for a whopping 171-straight quarters, and it has consistently increased its dividend during this time. In fact, ConocoPhillips increased its dividend by 92% in the past five years. Most recently, the company paid a quarterly dividend of $0.51 per share, and it plans to pay a special dividend of $0.70 per share on December 23. The stock has a 2.1% dividend yield. COP is a Conservative buy below $127.

SOM Technicals:

5-1-22: Closed at 95.52. Trade pressures are up. Volumes are bullish. The next target up is 100.57.

5-6-22: Closed at 107.69. Trade pressures are up. Volumes are bullish. The next target up is 108.75.

5-14-22: Closed at 103.78. Trade pressures are up. Volumes are neutral. The next target up is 104.

5-21-22: Closed at 105.02. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 100.93.

5-29-22: Closed at 114.85. Trade pressures are up. Volumes are bullish. The next target up is 121.40.

6-05-22: Closed at 118.12 . Trade pressures are up but turning down. Volumes are bullish. The next target up is 122.59.

6-11-22: Closed at 116.40. Trade pressures are down. Volumes are bearish. The next target down is 112.16.

6-18-22: Closed at 93.74. Trade pressures are down. Volumes are bearish. The next target down is 85.88.

6-25-22: Closed at 90.94. Trade pressures are down. Volumes are bearish. The next target down is 86.62.

7-2-22: Closed at 90.98. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 101.14.

7-9-22: Closed at 86.48. Trade pressures are down but rising. Volumes are bearish. The next target up is 95.02.

11-19-22: Closed at 128.59. Trade pressures are down. Volumes are bearish. The next target down is the support at 123.08.

11-27-22: Closed at 126.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 115.95.

12-2-22: Closed at 122.18. Trade pressures are down. Volumes are bearish. The next target down is 115.95.

12-11-22: Closed at 109.95. Trade pressures are down. Volumes are bearish. The next target down is 93.41.

12-16-22: Closed at 110.44. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 105.69.

12-31-22: Closed at 118.00. Trade pressures are up. Volumes are bullish. The next target up is 124.41, a new long entry.

1-7-23: Closed at 118.23. Trade pressures are up. Volumes are now bullish. The next target up is 124.41.

1-14-23 Closed at 121.47. Trade pressures are up. Volumes are bullish. The next target up is 124.41.

1-20-23: Closed at 121.80. Trade pressures are down but rising. Volumes are bullish. The next target up is 124.41.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) operates in several of the top oil and natural gas-producing regions in the U.S., with operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP. The company anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Recently, Marathon Oil announced that it would acquire 130,000 net acres in Eagle Ford from Ensign Natural Resources. The area is anticipated to produce 67,000 boed in the fourth quarter. The deal is expected to close by the end of the year, with an effective date of October 1.

Strong overall production is expected to add to Marathon Oil’s top and bottom lines in the fourth quarter. The current consensus estimate calls for earnings of $0.99 per share on $1.88 billion in revenue, which represents 28.6% year-over-year earnings growth and 4.3% year-over-year revenue growth.

Like most of our energy companies, Marathon Oil also pays a quarterly dividend. The company recently paid a fourth-quarter dividend of $0.09, up 50% from the $0.06 per share that it paid in the same quarter last year. The stock has a 1.3% dividend yield. MRO is a Moderately Aggressive buy below $31.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up into the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

5-29-22: Closed at 31.24. Trade pressures are up. Volumes are bullish. The next target up is 34.09.

6-05-22: Closed at 31.60. Trade pressures are up but rolling over. Volumes are bullish. A break below 30.58 would signal lower.

6-11-22: Closed at 30.10. Trade pressures are down. Volumes are bearish. The next target down is 27.90.

6-18-22: Closed at 24.15. Trade pressures are down. Volumes are bearish. The next target down is 20.39.

6-25-22: Closed at 22.05. Trade pressures are down. Volumes are bearish. The next target down is 20.62.

7-2-22: Closed at 22.56. Trade pressures are in the neutral zone. Volumes are neutral. The next target down is 20.90.

7-9-22: Closed at 21.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 24.55.

7-30-22: Closed at 24.80. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-6-22: Closed at 21.77. Trade pressures are down. Volumes are bearish. The next target down is a retest of the low at 19.42.

8-12-22: Closed at 24.06. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-21-22: Closed at 24.46. Trade pressures are up. Volumes are bullish. The next target up is 28.90. 

8-27-22: Closed at 26.16. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

9-2-22 Closed at 25.71. Trade pressures are down but rising. Volumes are now neutral. The next target up is 28.90.

9-9-22: Closed at 25.61. Trade pressures are down but rising. Volumes are now neutral. The next target up is 27.55.

9-16-22: Closed at 23.10. Trade pressures are down. Volumes are now bullish. The next target up is 27.92.

9-23-22: Closed at 21.90. Trade pressures are down. Volumes are bearish. The next target down is 21.01.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

11-19-22: Closed at 30.56. Trade pressures are down. Volumes are bullish. The next target down is 29.97.

11-27-22: Closed at 30.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is support at 29.07.

12-2-22: Closed at 29.74. Trade pressures are down. Volumes are bearish. The next target down is 26.51.

12-11-22: Closed at 26.17. Trade pressures are down. Volumes are bearish. The next target down is 24.88.

12-16-22: Closed at 27.33. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is the 200 day MA at 26.20.

12-31-22: Closed at 27.04. Trade pressures are down but rising. Volumes are now neutral. At the 200 day MA support, 26.38.

1-7-23: Closed at 26.60. Trade pressures are up. Volumes are neutral. The next target up is 28.28.

1-14-23: Closed at 27.08. Trade pressures are down into the neutral zone. volumes are bullish. The next target down is support at 26.59.

1-20-23: Closed at 27.80. Trade pressures are up. Volumes are bullish. The next target up is 28.28.

 

Marathon Petroleum Corporation

Marathon Petroleum Corporation (MPC) was a new addition to the High-Growth Investments Buy List last month. You may recall that Marathon Petroleum operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges.

For the fourth quarter, earnings are forecast to surge 347.7% year-over-year to $5.82 per share, up from $1.30 per share in the same quarter a year ago. Analysts have also increased earnings estimates by a whopping 70.7% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter sales are expected to grow 6.1% year-over-year to $37.78 billion.

Marathon Petroleum also has a history of rewarding its shareholders, as it’s paid a dividend for 45-straight quarters. The company recently paid a fourth-quarter dividend of $0.75 per share, which represented a 29.3% increase from the $0.58 per share paid in the third quarter. The stock has a 2.6% dividend yield. MPC is a Conservative buy below $122.

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.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) has provided energy exploration and petrochemical manufacturing services for more than 100 years. The company has energy and chemical assets around the world, including in the U.S., Africa, Latin America and the Middle East. Here in the U.S., Occidental Petroleum has operations in the Permian Basin, Rocky Mountains and Gulf of Mexico.

For the fourth quarter, the analyst community expects earnings to rise 41.9% year-over-year to $2.10 per share, up from $1.48 per share in the same quarter a year ago. Fourth-quarter revenue is forecast to grow 15.1% year-over-year to $9.22 billion.

Occidental has a long history of rewarding its shareholders, as it’s paid a dividend for an impressive 171-straight quarters. The company will pay a fourth-quarter dividend of $0.13 per share on January 17, 2023. All shareholders of record on December 12 will receive the dividend. The stock has a 0.8% dividend yield. OXY is a Moderately Aggressive buy below $71.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.

1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.

1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.

1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with capacity to produce about 3.2 million barrels per day. Valero Energy is also the second-largest producer of corn ethanol and renewable diesel, as well as operates 33 wind turbines in the U.S.

Fourth-quarter earnings are forecast to soar 181.4% year-over-year to $6.95 per share, compared to $2.47 per share in the same quarter a year ago. Analysts have also upped earnings estimates by 46% in the past three months, so a fifth-straight quarterly earnings surprise is likely. Fourth-quarter revenue is expected to rise 18.7% year-over-year to $42.62 billion.

Like the rest of our Top Stocks this month, Valero Energy also consistently pays a quarterly dividend: It’s paid a dividend for 134-consecutive quarters. Recently, the company paid a fourth-quarter dividend of $0.98 per share. The stock has a 3.2% dividend yield. VLO is a Conservative buy below $133.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78

12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.

1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.

1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.

1-20-23: Closed at 142.73. Trade pressures are up. Volumes are bullish. The next target up is 159.05.

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

(For this 2022 year, SOM will track the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

High-Growth Investments

ConocoPhillips

ConocoPhillips (COP) is one of the largest independent exploration and production companies in the world. With an extensive energy portfolio that spans 14 countries, ConocoPhillips transports oil and natural gas around the world through its pipelines, as well as on tankers, trucks and rails. So, the company has profited from increased energy demand and rising prices.

During the third quarter, production rose to 1,754 million barrels of oil equivalent per day (Mboed). In turn, ConocoPhillips achieved adjusted earnings of $4.6 billion, or $3.60 per share, or 91.7% year-over-year earnings growth. The consensus estimate called for adjusted earnings of $3.44 per share.

In the wake of its third-quarter earnings beat, the analyst community has upped fourth-quarter earnings estimates by nearly 3% in the past week. Fourth-quarter earnings are now forecast to grow 52.9% year-over-year to $3.47 per share. COP is a Conservative buy below $146.

SOM Technicals:

5-1-22: Closed at 95.52. Trade pressures are up. Volumes are bullish. The next target up is 100.57.

5-6-22: Closed at 107.69. Trade pressures are up. Volumes are bullish. The next target up is 108.75.

5-14-22: Closed at 103.78. Trade pressures are up. Volumes are neutral. The next target up is 104.

5-21-22: Closed at 105.02. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 100.93.

5-29-22: Closed at 114.85. Trade pressures are up. Volumes are bullish. The next target up is 121.40.

6-05-22: Closed at 118.12 . Trade pressures are up but turning down. Volumes are bullish. The next target up is 122.59.

6-11-22: Closed at 116.40. Trade pressures are down. Volumes are bearish. The next target down is 112.16.

6-18-22: Closed at 93.74. Trade pressures are down. Volumes are bearish. The next target down is 85.88.

6-25-22: Closed at 90.94. Trade pressures are down. Volumes are bearish. The next target down is 86.62.

7-2-22: Closed at 90.98. Trade pressures are in the neutral zone. Volumes are bullish. The next target up is 101.14.

7-9-22: Closed at 86.48. Trade pressures are down but rising. Volumes are bearish. The next target up is 95.02.

11-19-22: Closed at 128.59. Trade pressures are down. Volumes are bearish. The next target down is the support at 123.08.

11-27-22: Closed at 126.81. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 115.95.

12-2-22: Closed at 122.18. Trade pressures are down. Volumes are bearish. The next target down is 115.95.

12-11-22: Closed at 109.95. Trade pressures are down. Volumes are bearish. The next target down is 93.41.

12-16-22: Closed at 110.44. Trade pressures are down. Volumes are bearish. The next target down is the 200 day MA at 105.69.

 

Imperial Oil Limited

Imperial Oil Limited (IMO) is the largest petroleum product refiner in Canada, refining raw hydrocarbons into 650 petroleum products, including gasoline, diesel, natural gas, heating oil and lubricants. Imperial Oil boasts that it provides nearly a quarter of all the petroleum products that are used in Canada every day.

In the third quarter, Imperial Oil produced 430,000 barrels of oil equivalent per day (boed), and its refining throughput averaged 426,000 boed, with 100% capacity utilization. Third-quarter earnings soared 123.7% year-over-year to C$2.03 billion, or C$3.24 per share, while adjusted earnings jumped 100.8% year-over-year to C$1.82 billion. In U.S. dollar terms, Imperial Oil reported earnings of $2.43 per share, which topped estimates for $2.13 per share by 14.1%.

Imperial Oil also remains committed to rewarding its shareholders. It will pay a fourth-quarter dividend of $0.44 per share on January 1, 2023. All shareholders of record on December 2 will receive the dividend. The stock has a 2.3% dividend yield. IMO is a Conservative buy below $62.

SOM Technicals:

11-19-22: Closed at 56.46. Trade pressures are down. Volumes are neutral. The next target down is 32.82.

11-27-22: Closed at 57.32. Trade pressures are up. Volumes are neutral. At upper resistance, the next target up is the breakout at 57.56.

12-2-22: Closed at 55.93. Trade pressures are down. Volumes are bearish. The next target down is 52.82.

12-11-22: Closed at 50.01. Trade pressures are down but rising. Volum es are bearish. The next target down is 46.64.

12-16-22: Closed at 46.75. Trade pressures are down hard. Volumes are bearish. The next target down is 44.46.

 

Marathon Oil Corporation

Marathon Oil Corporation (MRO) operates in several of the top oil and natural gas-producing regions in the U.S., with operations in Eagle Ford, Bakken Shale, the Permian Basin and STACK/SCOOP. The company anticipates that it will produce between 285 million and 290 million barrels of oil equivalent per day (Mboed) this year.

Given third-quarter operational results, Marathon Oil is well on its way to achieving this goal: Third-quarter production totaled 295,000 Mboed. Oil production accounted for 166,000 million barrels.

Marathon Oil also reported third-quarter adjusted earnings of $832 million, or $1.24 per share, and revenue of $2.25 billion, which represented 168.4% year-over-year earnings growth and 54.6% year-over-year revenue growth. The consensus estimate called for adjusted earnings of $1.19 per share on $2.02 billion in revenue. MRO is a Moderately Aggressive buy below $36.

SOM Technicals:

3-26-22: Closed at 26.04. Trade pressures are up. Volumes are bullish. In consolidation. A close below 25.00 would signal lower.

4-2-22: Closed at 25.75. Trade pressures are up into the neutral zone, Volumes are bullish. The next target up is 26.22, the prior high.

4-10-22: Closed at 25.92. Trade pressures are up. Volumes are bullish. The next target up is 26.40 the prior high.

5-1-22: Closed at 24.92. Trade pressures are up. Volumes are neutral. The next target up is 27.27.

5-6-22: Closed at 28.15. Trade pressures are up. Volumes are bullish. The next target up is 29.00.

5-14-22: Closed at 27.00. Trade pressures are up. Volumes are bullish. The next target up is 27.35.

5-21-22: Closed at 27.26. Trade pressures are down but turning up. Volumes are bullish. The next target up is the 28.44 resistance.

5-29-22: Closed at 31.24. Trade pressures are up. Volumes are bullish. The next target up is 34.09.

6-05-22: Closed at 31.60. Trade pressures are up but rolling over. Volumes are bullish. A break below 30.58 would signal lower.

6-11-22: Closed at 30.10. Trade pressures are down. Volumes are bearish. The next target down is 27.90.

6-18-22: Closed at 24.15. Trade pressures are down. Volumes are bearish. The next target down is 20.39.

6-25-22: Closed at 22.05. Trade pressures are down. Volumes are bearish. The next target down is 20.62.

7-2-22: Closed at 22.56. Trade pressures are in the neutral zone. Volumes are neutral. The next target down is 20.90.

7-9-22: Closed at 21.72. Trade pressures are up into the neutral zone. Volumes are neutral. The next target up is 24.55.

7-30-22: Closed at 24.80. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-6-22: Closed at 21.77. Trade pressures are down. Volumes are bearish. The next target down is a retest of the low at 19.42.

8-12-22: Closed at 24.06. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

8-21-22: Closed at 24.46. Trade pressures are up. Volumes are bullish. The next target up is 28.90. 

8-27-22: Closed at 26.16. Trade pressures are up. Volumes are bullish. The next target up is 28.90.

9-2-22 Closed at 25.71. Trade pressures are down but rising. Volumes are now neutral. The next target up is 28.90.

9-9-22: Closed at 25.61. Trade pressures are down but rising. Volumes are now neutral. The next target up is 27.55.

9-16-22: Closed at 23.10. Trade pressures are down. Volumes are now bullish. The next target up is 27.92.

9-23-22: Closed at 21.90. Trade pressures are down. Volumes are bearish. The next target down is 21.01.

10-1-22: Closed at 22.60. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target down is a retest of the 21.01 level.

10-8-22: Closed at 27.94. Trade pressures are up. Volumes are bearish. At the upper bound of the pitchfork. A close below 27.20 would signal lower.

10-16-22: Closed at 27.05. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is the 25.45 new short entry.

10-22-22: Closed at 29.15. Trade pressures are up. Volumes are bullish. The next target up is 34.01, but at resistance now.

10-29-22: Closed at 30.16. Trade pressures are up but declining. Volumes are now neutral. The next target down is 27.84.

11-5-22: Closed at 32.03. Trade pressures are up. Volumes are bullish. The next target up is 34.01.

11-11-22: Closed at 32.88. Trade pressures are up into the neutral zone. Volumes are now neutral. The next target up is 33.42.

11-19-22: Closed at 30.56. Trade pressures are down. Volumes are bullish. The next target down is 29.97.

11-27-22: Closed at 30.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is support at 29.07.

12-2-22: Closed at 29.74. Trade pressures are down. Volumes are bearish. The next target down is 26.51.

12-11-22: Closed at 26.17. Trade pressures are down. Volumes are bearish. The next target down is 24.88.

12-16-22: Closed at 27.33. Trade pressures are down into the neutral zone. Volumes are neutral. the next target down is the 200 day MA at 26.20.

 

Occidental Petroleum Corporation

Occidental Petroleum Corporation (OXY) has provided energy exploration and petrochemical manufacturing services for more than 100 years. The company has energy and chemical assets around the world, including in the U.S., Africa, Latin America and the Middle East. Here in the U.S., Occidental Petroleum has operations in the Permian Basin, Rocky Mountains and the Gulf of Mexico.

In the third quarter, Occidental Petroleum produced 1,180 million barrels of oil equivalent per day (Mboed). Total U.S. production was 944 Mboed in the third quarter. During the first nine months of the year, the company achieved total production of 1,136 Mboed, with 902 Mboed in the U.S.

Given the strong operational results, Occidental Petroleum posted robust third-quarter results. Adjusted earnings surged 180.4% year-over-year to $2.44 per share, up from $0.87 per share in the same quarter a year ago. Third-quarter revenue came in at $9.5 billion. The consensus estimate called for earnings of $2.46 per share on $9.5 billion in revenue. OXY is a Moderately Aggressive buy below $82.

SOM Technicals:

8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.

9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.

9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.

9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.

9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.

11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.

11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.

12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.

12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41. 

12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target  down is 56.41.

 

Valero Energy Corporation

Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day. Valero Energy also produces corn ethanol and 700 million gallons of renewable diesel, as well as operates 33 wind turbines.

Valero Energy is making its first appearance on the Top Stocks list this month, as the company recently released blowout quarterly results. Third-quarter adjusted earnings surged 413.8% year-over-year to $2.8 billion, or $7.14 per share, beating estimates for adjusted earnings of $6.84 per share. Revenue rose 50.6% year-over-year to $44.45 billion, which bested estimates for $43.26 billion.

Thanks in part to the stunning third-quarter results, the analyst community has upped fourth-quarter estimates by 62.5% in the past three months. Fourth-quarter earnings are now forecast to soar 184.2% year-over-year to $7.02 per share, while revenue is expected to grow 22.3% year-over-year to $43.89 billion. VLO is a Conservative buy below $153.

SOM Technicals:

11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.

11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.

12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.

12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.

12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78