Category: Public

Navellier Top 5 Stocks for October

High-Growth Investments

The Allstate Corporation

The Allstate Corporation (ALL) is a leading insurance provider that’s kept its customers in “good hands” for more than 90 years. Today, Allstate has nearly 193 million policies, and through these policies, it provides a variety of insurance products and services, including auto, boat, motorcycle, homeowners, renters, life and business insurance.

Allstate is scheduled to release results for the third quarter on October 30. Third-quarter earnings are forecast to surge 296.3% year-over-year to $3.21 per share, up from $0.89 per share in the same quarter a year ago. Revenue is expected to rise 13.3% year-over-year to $14.94 billion.

I should also add that Allstate has a history of posting big earnings surprises, as it posted earnings surprises of 76.1%, 45.9%, 30.2% and 335.1% in the past four quarters, respectively. Analysts have increased earnings estimates over the past two months, so another quarterly earnings surprise is likely. ALL is a Conservative buy below $202.

SOM Technicals:

8-3-24: Closed at 178.82. Trade pressures are up. Volumes are bullish. The next target up is 188.86.

8-11-24: Closed at 171.03. Trade pressures are rising to the neutral zone. Volumes are neutral. The next target down is 168.07.

8-16-24: Closed at 178.11. Trade pressures are up. Volumes are bearish. The next target down is 175.48.

8-26-24: Closed at 180.51. Trade pressures are up. Volumes are bullish. The next target up is 184.31.

8-30-24: Closed at 188.94. Trade pressures are bullish. Volumes are bullish. The next target up is 194.68.

9-7-24: Closed at 185.36. Trade pressures are down. Volumes are bearish. The next target down is 180.99.

9-14-24: Closed at 188.30. Trade pressures are up. Volumes are bullish. The next target up is 191.33, the previous high.

9-28-24: Closed at 188.36. Trade pressures are down. Volumes are bearish. The next target down is 183.62.

10-5-24: Closed at 190.57. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is the prior high at 103.97.

10-12-24: Closed at 188.28. Trade pressures are up. Volumes are bullish. The next target up is 193.97.

10-18-24: Closed at 195.37. Trade pressures are up but turning down. Volumes are bearish. The next target down is 191.33.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

During the first six months of the year, sales rose 2.3% year-over-year to $3.4 billion. Sparkling bottle/can sales increased 4% year-over-year to $2.0 billion, while still bottle/can sales grew 2.4% year-over-year to $1.1 billion. Income from operations climbed 7.9% year-over-year to $474.5 million.

While the company doesn’t have any analysts following it right now, Coca-Cola remains very optimistic about its business going forward. In fact, Coca-Cola Consolidated recently announced a big increase in its quarterly dividend.

The company will now pay a quarterly dividend of $2.50 per share, up from its previous dividend of $0.50 per share. The new dividend will be paid on November 8 to all shareholders of record on October 25. The stock has a 0.8% dividend yield. COKE is a Conservative buy below $1,426.

SOM Technicals:

8-3-24: Closed at 1274.20. Trade pressures are up. Volumes are bullish. The next target up is 1345.00.

8-11-24: Closed at 1259.41. Trade pressures are up but declining. Volumes are bullish. The next target down is 1217.49.

8-16-24: Closed at 1270.17. Trade pressures are up. Volumes are bullish. The next target up is 1305.70.

8-26-24: Closed at 1339.75. Trade pressures are up but declining. Volumes are neutral. The next target down is 1319.69.

8-30-24: Closed at 1342.40. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 1285.96.

9-7-24: Closed at 1329.90. Trade pressures are up but declining. Volumes are bearish. The next target down is 1285.96.

9-13-24: Closed at 1296.96. Trade pressures are down. Volumes are neutral. The next target down is 1233.97.

9-28-24: Closed at 1295.96. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 1306.31.

10-5-24: Closed at 1292.09. Trade pressures are down but rising. Volumes are neutral. The next target down is 1260.

10-12-24: Closed at 1282.91. Trade pressures are up. Volumes remain neutral. The next target up is 1396.03.

10-18-24: Closed at 1287.46. Trade pressures are down. Volumes are bearish. The next target down is low pivot at 1252.

 

Costco Wholesale Corporation

Costco Wholesale Corporation (COST) operates in the warehouse club industry, with 600 locations in 47 states and Puerto Rico, as well as 108 locations in Canada, 40 locations in Mexico, 33 locations in Japan and 29 locations in the U.K. The company also has locations in Australia, China, France, Iceland, Korea, New Zealand, Sweden and Taiwan.

Costco announced results for its fourth quarter and fiscal year 2024 after the stock market closed on Thursday. Interestingly, the company’s decision to start selling gold bars last fall proved to be a boon for its business. It’s estimated that Costco is selling between $100 million and $200 million in gold bars each month.

For the fourth quarter, Costco reported sales rose 1% year-over-year to $78.2 billion, just shy of estimates for $79.97 billion. Earnings grew 9% year-over-year to $2.354 billion, or $5.29 per share, compared to $2.16 billion, or $4.86 per share, in the fourth quarter of 2023. Analysts expected earnings of $5.07 per share.

Costco also reported total sales increased 5% year-over-year to $249.6 billion in its fiscal year 2024. Full-year earnings rose 17.1% year-over-year to $7.367 billion, or $16.56 per share, up from $6.292 billion, or 14.16 per share, in fiscal year 2023. COST is a Conservative buy below $946.

SOM Technicals:

8-30-24: Closed at 895.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 867.10.

9-7-24: Closed at 876.68. Trade pressures are down. Volumes are bearish. The next target down is 854.86.

9-14-24: Closed at 916.00. Trade pressures are up. Volumes are bullish. The next target up is 939.04.

9-28-24: Closed at 885.62. Trade pressures are down. Volumes are neutral. The next target down is 859.78.

10-5-24: Closed at 883.11. Trade pressures are rising onto the neutral zone. Volumes are bearish. The next target up is 899.

10-12-24: Closed at 889.03. Trade pressures are down. Volumes are neutral. The next target down is 881.04.

10-18-24: Closed at 889.56. Trade pressures are down but rising. Volumes are bearish. The next target down is 875.10.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider, offering everything from car, boat and motorcycle insurance to homeowners, renters and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates. And Progressive continues to benefit from high insurance rates.

For the third quarter, analysts have increased earnings estimates by 44% in the past three months, which is setting the company up for a fifth-straight quarterly earnings surprise. Third-quarter earnings are forecast to jump 67.5% year-over-year to $3.50 per share, up from $2.09 per share in the same quarter a year ago.

Progressive also plans to pay a quarterly dividend of $0.10 per share on October 11. All shareholders of record on October 3 will receive the dividend. The stock has a 0.16% dividend yield. PGR is a Conservative buy below $269.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

6-30-24: Closed at 207.71. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 218.69.

7-5-24: Closed at 210.18. Trade pressures are down. Volumes are neutral. The next target down is 205.22.

7-12-24: Closed at 213.30. Trade pressures are up. Volumes are bullish. The next target up is 218.69.

7-20-24: Closed at 219.35. Trade pressures are up but declining. Volumes are bearish. The next target down 212.57.

8-3-24: Closed at 216.94. Trade pressures are up. Volumes are bullish. The next  target up is 240.00.

8-11-24: Closed at 221.73. Trade pressures are up. Volumes are bullish. The next target up is 227.32.

8-16-24: Closed at 236.77. Trade pressures are up. Volumes are bullish. The next target up is 244.22.

8-26-24: Closed at 242.45. Trade pressures are up. Volumes are bullish. The next target up is 246.40.

8-30-24: Closed at 252.20. Trade pressures are up. Volumes are bullish. The next target up is 261.59.

9-7-24: Closed at 248.69. Trade pressures are up but declining. Volumes are neutral. The next target down is 244.68.

9-14-24: Closed at 255.46. Trade pressures are up. Volumes are bullish. The next target up is 267.50.

9-28-24: Closed at 251.10. Trade pressures are down. Volumes are bearish. The next target down is 244.03.

10-5-24: Closed at 255.36. Trade pressures are up. Volumes are bullish The next target up is 262.01.

10-12-24: Closed at 254.02. Trade pressures are up. Volumes are bullish. The next target up is 256.27.

10-18-24: Closed at 251.12. Trade pressures are down. Volumes are bearish. The next target down is 242.32.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) is a midstream energy company that provides gathering and processing systems as well as logistics and transportation systems. The company operates more than 31,000 miles of natural gas pipelines and 53 processing plants, which service top natural gas and crude oil-producing basins in the U.S.

You may recall that Targa Resources operates in the lucrative oil and natural gas-producing region in the Permian Basin. The company’s robust operations in this region are anticipated to continue to add handsomely to its top and bottom lines.

For the third quarter, the analyst community expects earnings to increase 55.7% year-over-year to $1.51 per share, compared to $0.97 per share in the third quarter of 2023. Analysts have revised earnings estimates 13.5% higher in the past three months, which bodes well for a second-straight quarterly earnings surprise. TRGP is a Conservative buy below $156.

SOM Technicals:

5-25-24: Closed at 114.28. Trade pressures are down. Volumes are bearish. The next target down is 111.90.

6-2-24: Closed at 118.23. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-8-24: Closed at 118.01. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-15-24: Closed at 119.00. Trade pressures are down. Volumes are neutral. The next target down is 117.63.

6-23-24: Closed at 125.10. Trade pressures are up. Volumes are bearish. The next target down is 123.65.

6-30-24: Closed at 128.78. Trade pressures are up. Volumes are bullish. The next target up is 130.53.

7-5-24: Closed at 132.49. Trade pressures are up. Volumes are bullish. The next target up is 139.71.

7-12-24: Closed at 135.05. Trade pressures are up. Volumes are bullish. The next target up is 137.41.

7-20-24: Closed at 136.37. Trade pressures are up. Volumes remain bullish. The next target up is 139.96.

8-3-24: Closed at 130.58. Trade pressures are down. Volumes are bearish. The next target down is 126.70.

8-11-24: Closed at 135.69. Trade pressures are up. Volumes are bullish. The next target up is 139.35, the prior high.

8-16-24: Closed at 142.83. Trade pressures are up. Volumes are bullish. The next target up is 150.00.

8-26-24: Closed at 145.47. Trade pressures are up. Volumes are bullish. The next target up is 151.82.

9-28-24: Closed at 146.80. Trade pressures are down. Volumes are neutral. The next target down is 140.89.

10-5-24. Closed at 158.02. Trade pressures are up. Volumes are bullish. The next target up is 159.07.

10-12-24: Closed at 165.76. Trade pressures are up. Volumes are bullish. The next target up is169.90.

10-18-24: Closed at 162.75. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 157.41.

Navellier Top 5 Stocks for September

High-Growth Investments

The Allstate Corporation

The Allstate Corporation (ALL) is a leading insurance provider that’s kept its customers in “good hands” for more than 90 years. Today, Allstate has nearly 193 million policies, and through these policies, it provides a variety of insurance products and services, including auto, boat, motorcycle, homeowners, renters, life and business insurance.

Insurance may be a boring business, but it’s been a profitable one for Allstate. Second-quarter adjusted earnings surged to $429.0 million, or $1.61 per share, up from a loss of $1.16 million, or a $4.42 per share loss, in the second quarter of 2023. Analysts only expected earnings of $0.37 per share, so Allstate posted a whopping 335.1% earnings surprise.

Following the earnings beat, analysts have increased third-quarter earnings estimates over the past month. Third-quarter earnings are now forecast to soar 274.1% year-over-year to $3.03 per share, compared to $0.81 per share in the third quarter of 2023.

I should also add that Allstate is set to pay a quarterly dividend of $0.92 per share on October 1. All shareholders of record today, August 30, will receive the dividend. The stock has a 2.0% dividend yield. ALL is a Conservative buy below $201.

SOM Technicals:

8-3-24: Closed at 178.82. Trade pressures are up. Volumes are bullish. The next target up is 188.86.

8-11-24: Closed at 171.03. Trade pressures are rising to the neutral zone. Volumes are neutral. The next target down is 168.07.

8-16-24: Closed at 178.11. Trade pressures are up. Volumes are bearish. The next target down is 175.48.

8-26-24: Closed at 180.51. Trade pressures are up. Volumes are bullish. The next target up is 184.31.

8-30-24: Closed at 188.94. Trade pressures are bullish. Volumes are bullish. The next target up is 194.68.

9-7-24: Closed at 185.36. Trade pressures are down. Volumes are bearish. The next target down is 180.99.

9-14-24: Closed at 188.30. Trade pressures are up. Volumes are bullish. The next target up is 191.33, the previous high.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

Coca-Cola Consolidated may not have any analysts following the stock yet, but it remains one of our Top Stocks due to persistent institutional buying pressure. The stock earns an A Quantitative grade, which means investors continue to load up on shares.

The company also provided solid results for its second quarter. Sales rose 3.3% year-over-year to $1.8 billion, with sparkling bottle/can sales accounting for $1.05 billion. Operating earnings grew 11% year-over-year to $259.1 million, while adjusted earnings increased 11.7% year-over-year to $192.8 million.

I should add that Coca-Cola Consolidated recently increased its quarterly dividend by a whopping 400%. The company will now pay a quarterly dividend of $2.50 per share, up from its previous $0.50 per share dividend. The dividend will be paid on November 8 to all shareholders of record on October 25. The stock has a 0.75% dividend yield. COKE is a Conservative buy below $1,465.

SOM Technicals:

8-3-24: Closed at 1274.20. Trade pressures are up. Volumes are bullish. The next target up is 1345.00.

8-11-24: Closed at 1259.41. Trade pressures are up but declining. Volumes are bullish. The next target down is 1217.49.

8-16-24: Closed at 1270.17. Trade pressures are up. Volumes are bullish. The next target up is 1305.70.

8-26-24: Closed at 1339.75. Trade pressures are up but declining. Volumes are neutral. The next target down is 1319.69.

8-30-24: Closed at 1342.40. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 1285.96.

9-7-24: Closed at 1329.90. Trade pressures are up but declining. Volumes are bearish. The next target down is 1285.96.

9-13-24: Closed at 1296.96. Trade pressures are down. Volumes are neutral. The next target down is 1233.97.

 

Costco Wholesale Corporation

Costco Wholesale Corporation (COST) operates in the warehouse club industry, and it has a global footprint: the company has 600 locations in 47 states and Puerto Rico, as well as 108 locations in Canada, 40 locations in Mexico, 33 locations in Japan and 29 locations in the U.K. The company also has locations in Australia, China, France, Iceland, Korea, New Zealand, Sweden and Taiwan.

During the first nine months of its fiscal year 2024, Costco achieved total sales of $174.76 billion, or a 7% year-over-year increase, and earnings of $5.01 billion, or $11.27 per share, or a 21.3% year-over-year rise. The company is scheduled to announce fourth-quarter and fiscal year results on September 26.

For the fourth quarter, earnings are forecast to grow 4.3% year-over-year to $5.07 per share and sales are expected to increase 1.6% year-over-year to $80.23 billion. Analysts have upped earnings estimates over the past three months, so a fifth-straight quarterly earnings surprise is likely.

Costco is also expected to report 15.4% annual earnings growth and 5.3% annual sales growth for its fiscal year 2024. COST is a Conservative buy below $952.

SOM Technicals:

8-30-24: Closed at 895.38. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 867.10.

9-7-24: Closed at 876.68. Trade pressures are down. Volumes are bearish. The next target down is 854.86.

9-14-24: Closed at 916.00. Trade pressures are up. Volumes are bullish. The next target up is 939.04.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider, offering everything from car, boat and motorcycle insurance to homeowners, renters and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates. And Progressive continues to benefit from high insurance rates.

In July, Progressive noted that net premiums written totaled $6.38 billion and net premiums earned totaled $6.07 billion. That was up from net premiums written of $5.75 billion and net premiums earnings of $5.78 billion in June. Earnings in July came in at $813.5 million, or $1.38 per share, which compared to earnings of $802.7 million, or $1.37 per share in June. Progressive will report August results on September 13.

Progressive plans to pay a quarterly dividend of $0.10 per share on October 11. All shareholders of record on October 3 will receive the dividend. The stock has a 0.2% dividend yield. PGR is a Conservative buy below $268.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.  

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

6-30-24: Closed at 207.71. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 218.69.

7-5-24: Closed at 210.18. Trade pressures are down. Volumes are neutral. The next target down is 205.22.

7-12-24: Closed at 213.30. Trade pressures are up. Volumes are bullish. The next target up is 218.69.

7-20-24: Closed at 219.35. Trade pressures are up but declining. Volumes are bearish. The next target down 212.57.

8-3-24: Closed at 216.94. Trade pressures are up. Volumes are bullish. The next  target up is 240.00.

8-11-24: Closed at 221.73. Trade pressures are up. Volumes are bullish. The next target up is 227.32.

8-16-24: Closed at 236.77. Trade pressures are up. Volumes are bullish. The next target up is 244.22.

8-26-24: Closed at 242.45. Trade pressures are up. Volumes are bullish. The next target up is 246.40.

8-30-24: Closed at 252.20. Trade pressures are up. Volumes are bullish. The next target up is 261.59.

9-7-24: Closed at 248.69. Trade pressures are up but declining. Volumes are neutral. The next target down is 244.68.

9-14-24: Closed at 255.46. Trade pressures are up. Volumes are bullish. The next target up is 267.5.

 

Wingstop, Inc.

Wingstop, Inc. (WING) was a new addition to the High-Growth Investments Buy List in the August Monthly Issue. If you recall, Wingstop is a restaurant chain that offers buffalo-style chicken wings, with classic wings, boneless wings and chicken tenders, all offered with a wide selection of sauce flavors.

Wingstop operates more than 2,200 restaurants in the U.S., as well as in Colombia, Indonesia, Malaysia, Mexico, Panama, Singapore, the U.K. and the United Arab Emirates.

During the second quarter, system-wide sales jumped 45.2% year-over-year to $1.2 billion, and Wingstop opened 73 new stores. Total second-quarter revenue increased 45.3% year-over-year to $155.7 million, topping estimates for $144.01 million. Second-quarter earnings soared nearly 70% year-over-year to $27.5 million, or $0.93 per share, also beating estimates for $0.82 per share.

Following the positive second-quarter results, analysts have increased third-quarter earnings estimates by 10.6% in the past month. Third-quarter earnings are now forecast to grow 36.2% year-over-year to $0.94 per share, and sales are expected to come in at $159.89 million. WING is a Moderately Aggressive buy below $426.

SOM Technicals:

8-30-24: Closed at 386.11. Trade pressures are down. Volumes are bearish. The next target down is 364.74.

9-7-24: Closed at 362.41. Trade pressures are down. Volumes are bearish. The next target down is 354.11.

9-14-24: Closed at 394.81. Trade pressures are up. Volumes are bullish. The next target up is 409.77, the prior high.

Navellier Top 5 Stocks for August

High-Growth Investments

The Allstate Corporation

The Allstate Corporation (ALL) is a leading insurance provider that’s kept its customers in “good hands” for more than 90 years. Today, Allstate has nearly 193 million policies, and through these policies, it provides a variety of insurance products and services, including auto, boat, motorcycle, homeowners, renters, life and business insurance.

Allstate will announce second-quarter results after the stock market closes on Wednesday, July 31. Second-quarter earnings are expected to jump to $0.37 per share, up from a $4.42 per share loss in the same quarter a year ago. Analysts have also increased earnings estimates from a $0.46 per share loss just a week ago, so a fourth-straight quarterly earnings surprise is likely.

I should also add that Allstate continues to reward its shareholders. The company will pay a quarterly dividend of $0.92 per share, up from $0.89 per share in the same quarter a year ago, on October 1. All shareholders of record on August 30 will receive the dividend. The stock has a 2.2% dividend yield. ALL is a Conservative buy below $181.

SOM Technicals:

8-3-24: Closed at 178.82. Trade pressures are up. Volumes are bullish. The next target up is 188.86.

8-11-24: Closed at 171.03. Trade pressures are rising to the neutral zone. Volumes are neutral. The next target down is 168.07.

8-16-24: Closed at 178.11. Trade pressures are up. Volumes are bearish. The next target down is 175.48.

8-26-24: Closed at 180.51. Trade pressures are up. Volumes are bullish. The next target up is 184.31.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

There currently aren’t any analysts following Coca-Cola Consolidated, but the company’s recent results were still robust. For the first quarter, the company reported sales rose 1.3% year-over-year to $1.59 billion, while operating earnings increased 4.5% year-over-year to $215.4 million. Coca-Cola Consolidated will announce second-quarter and first-half results after the stock market closes on Wednesday, July 31.

Coca-Cola Consolidated also recently announced that it will pay a third-quarter dividend of $0.50 per share on August 9. All shareholders of record on July 26 will receive the dividend. The stock has a 0.18% dividend yield. COKE is a Conservative buy below $1,252.

SOM Technicals:

8-3-24: Closed at 1274.20. Trade pressures are up. Volumes are bullish. The next target up is 1345.00.

8-11-24: Closed at 1259.41. Trade pressures are up but declining. Volumes are bullish. The next target down is 1217.49.

8-16-24: Closed at 1270.17. Trade pressures are up. Volumes are bullish. The next target up is 1305.70.

8-26-24: Closed at 1339.75. Trade pressures are up but declining. Volumes are neuatral. The next target down is 1319.69.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider, offering everything from car, boat and motorcycle insurance to homeowners, renters and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates. And Progressive continues to benefit from high insurance rates.

Back on July 16, Progressive reported that second-quarter earnings surged 322% year-over-year to $1.46 billion, or $2.48 per share. The analyst community only expected earnings of $2.01 per share, so Progressive posted a 23.4% earnings surprise.

At the end of the quarter, Progressive noted that it had a total of 32.31 million policies in force, up 9% from 29.58 million policies at the end of the second quarter in 2023.

Progressive also consistently rewards its shareholders. The company paid a dividend of $0.10 per share on July 12, which represented its 22-straight quarterly dividend. The stock has a 0.19% dividend yield. PGR is a Conservative buy below $230.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.  

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

6-30-24: Closed at 207.71. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 218.69.

7-5-24: Closed at 210.18. Trade pressures are down. Volumes are neutral. The next target down is 205.22.

7-12-24: Closed at 213.30. Trade pressures are up. Volumes are bullish. The next target up is 218.69.

7-20-24: Closed at 219.35. Trade pressures are up but declining. Volumes are bearish. The next target down 212.57.

8-3-24: Closed at 216.94. Trade pressures are up. Volumes are bullish. The next  target up is 240.00.

8-11-24: Closed at 221.73. Trade pressures are up. Volumes are bullish. The next target up is 227.32.

8-16-24: Closed at 236.77. Trade pressures are up. Volumes are bullish. The next target up is 244.22.

8-26-24: Closed at 242.45. Trade pressures are up. Volumes are bullish. The next target up is 246.40.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) is a midstream energy company that provides gathering and processing systems as well as logistics and transportation systems. The company operates more than 31,000 miles of natural gas pipelines and 53 processing plants, which service top natural gas and crude oil-producing basins in the U.S.

The company operates in the lucrative oil and natural gas-producing region in the Permian Basin, and its robust operations in this region are anticipated to add handsomely to its top and bottom lines.

Targa Resources scheduled its second-quarter earnings announcement for August 1. Analysts currently expect second-quarter earnings of $1.25 per share and revenue of $4.44 billion, which compares to earnings of $1.44 per share and revenue of $4.36 billion in the same quarter a year ago. Analysts have upped earnings estimates over the past month.

I should also add that Targa Resources recently announced its next dividend payment. The company will pay a quarterly dividend of $0.75 per share on August 15. All shareholders of record on July 31 will receive the dividend. The stock has a 2.3% dividend yield. TRGP is a Conservative buy below $141.

SOM Technicals:

5-25-24: Closed at 114.28. Trade pressures are down. Volumes are bearish. The next target down is 111.90.

6-2-24: Closed at 118.23. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-8-24: Closed at 118.01. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-15-24: Closed at 119.00. Trade pressures are down. Volumes are neutral. The next target down is 117.63.

6-23-24: Closed at 125.10. Trade pressures are up. Volumes are bearish. The next target down is 123.65.

6-30-24: Closed at 128.78. Trade pressures are up. Volumes are bullish. The next target up is 130.53.

7-5-24: Closed at 132.49. Trade pressures are up. Volumes are bullish. The next target up is 139.71.

7-12-24: Closed at 135.05. Trade pressures are up. Volumes are bullish. The next target up is 137.41.

7-20-24: Closed at 136.37. Trade pressures are up. Volumes remain bullish. The next target up is 139.96.

8-3-24: Closed at 130.58. Trade pressures are down. Volumes are bearish. The next target down is 126.70.

8-11-24: Closed at 135.69. Trade pressures are up. Volumes are bullish. The next target up is 139.35, the prior high.

8-16-24: Closed at 142.83. Trade pressures are up. Volumes are bullish. The next target up is 150.00.

8-26-24: Closed at 145.47. Trade pressures are up. Volumes are bullish. The next target up is 151.82.

 

Vertiv Holdings Co.

Vertiv Holdings Co. (VRT) primarily provides digital infrastructure, offering a portfolio of power, cooling and IT infrastructure solutions that are vital to commercial and industrial facilities, communication networks and data centers. The company has benefited immensely from the artificial intelligence revolution, as it helps expand the utility grid and data centers – and that was apparent in its latest quarterly results.

For the second quarter, Vertiv reported that earnings soared 114% year-over-year to $178.1 million, or $0.46 per share. That compared to earnings of $83.2 million, or $0.22 per share, in the same quarter a year ago. Adjusted earnings increased 48% year-over-year to $258.4 million, or $0.67 per share, which beat estimates for $0.57 per share by 17.5%.

Second-quarter orders increased 57% year-over-year and were up 37% on a 12-month trailing basis. In turn, second-quarter sales rose 13% year-over-year to $1.95 billion, topping estimates for $1.94 billion.

Looking ahead, Vertiv expects third-quarter sales between $1.935 billion and $1.985 billion and adjusted earnings per share between $0.65 and $0.69. That compares to the current consensus estimate that calls for sales of $1.97 billion and earnings of $0.63 per share. VRT is an Aggressive buy below $89.

SOM Technicals:

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

4-27-24: Closed at 93.49. Trade pressures are up. Volumes are neutral. The next target up is 94.76.

5-4-24: Closed at 93.01. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 95.70.

5-10-24: Closed at 95.40. Trade pressures are up. Volumes are bullish. The next target up is 100.01.

5-18-24: Closed at 96.81. Trade pressures are down. Volumes are neutral. The next target down is 90.96.

5-25-24: Closed at 106.17. Trade pressures are up. Volumes are bullish. The next target up is 126.68.

6-2-24: Closed at 98.07. Trade pressures are down. Volumes are bullish. The next target up is 101.57.

6-8-24: Closed at 87.68. Trade pressures are down. Volumes are bearish. The next target up is 94.31.

6-15-24: Closed at 91.48. Trade pressures are up. Volumes are neutral. The next target down is 80.34.

6-23-24: Closed at 90.62. Trade pressures are down. Volumes are now neutral. The next target down is 78.22.

6-30-24: Closed at 86.57. Trade pressures are down. Volumes are bearish. The next target down is 78.22.

7-5-24: Closed at 91.78. Trade pressures are up. Volumes are bullish. The next target up is 95.17.

7-12-24: Closed at 89.67. Trade pressures are down. volumes are bearish. The next target down is 85.44.

7-20-24: Closed at 85.31. Trade pressures are down but rising. Volumes are bearish. The next target up is 98.45.

8-3-24: Closed at 69.46. Trade pressures are down. Volumes are neutral. The next target down is 58.46.

8-11-24: Closed at 71.46. Trade pressures are up. Volumes are neutral. The next target up is 81.07.

8-16-24: Closed at 82.96. Trade pressures are up. Volumes are bullish. The next target up is 99.73.

8-26-24: Closed at 78.06. Trade pressures are up. Volumes are bearish. The next target up is 99.73.

 

Navellier Top 5 Stocks for July

High-Growth Investments

Eli Lilly & Company

Eli Lilly & Company (LLY) continues to prosper from the booming business in weight-loss drugs. As you may know, the company is known for its type 2 diabetes treatment, Mounjaro, and its weight-loss drug, Zepbound, as both have now received FDA approval. But Eli Lilly is far from a one-trick pony.

Just this week, Eli Lilly announced that it was partnering with OpenAI in order to utilize its generative AI to develop antimicrobials for the treatment of drug-resistant pathogens. Company management noted antimicrobial resistance is an “overlooked threat,” and its partnership with OpenAI illustrates Eli Lilly’s “commitment to addressing significant health challenges experienced by people around the world.”

Eli Lilly will release second-quarter results on August 8. The consensus estimate calls for earnings of $2.75 per share on $9.97 billion in revenue, which translates to 30.3% year-over-year earnings growth and 19.9% year-over-year revenue growth.

The company also announced that it will pay a third-quarter dividend of $1.30 per share on September 10. All shareholders of record on August 15 will receive the dividend. The stock has a 0.6% dividend yield. LLY is a Conservative buy below $979.

SOM Technicals:

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

1-27-24: Closed at 640.00. Trade pressures are up. Volumes are bullish. The next target up is the Breakout of the Upper median line resistance at 639.50.

2-3-24: Closed at 667.66. Trade pressures are up. Volumes are bullish. The next target up is 682.18.

2-10-24: Closed at 741.00. Trade pressures are up. Volumes are now neutral. The next target up is 745.00.

2-16-24: Closed at 786.00. Trade pressures are up. Volumes remain bullish. The next target up is 882.00.

2-25-24: Closed at 769.54. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 712.11.

3-1-24: Closed at 782.12. Trade pressures are in the neutral zone and rising. Volumes are bullish. The next target up is 794.47.

3-9-24: Closed at 762.14. Trade pressures are down. Volumes are bearish. The net target down is 749.88.

3-16-24: Closed at 754.17. Trade pressures are up but turning down. Volumes are bearish. The next target down is 718.42.

3-22-24: Closed at 770.61. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 794.25.

3-29-24: Closed at 777.96. Trade pressures are up. Volumes are now bearish. The next target up 787.40.

4-6-24: Closed at 784.21. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 793.67.

4-14-24: Closed at 751.64. Trade pressures are down. Volumes are bearish. the next target diown is 720.51.

4-27-24: Closed at 733.51. Trade pressures are down but rising. Volumes are neutral. The next target up is the new long entry at 734.81.

5-4-24: Closed at 734.97. Trade pressures are down. Volumes are neutral. The next target down is 707.91.

5-10-24: Closed at 760.00. Trade pressures are down. Volumes are bullish. the next target up is the prior high at 795.50.

5-18-24: Closed at 770.00. Trade pressures are down. Volumes are bullish. The next target up is 781.59.

6-30-24; Closed at 905.38. Trade pressures are up. Volumes are bullish. The next target up is 971.47.

7-5-24: Closed at 916.01. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 877.

7-12-24: Closed at 948.40. Trade pressures are up. Volumes are bullish. The next target up is 957.43.

7-20-24: Closed at 857.47. Trade pressures are down hard. Volumes are neutral. The next target down is 832.65.

 

EMCOR Group, Inc.

EMCOR Group, Inc. (EME) is one of the companies helping to expand the U.S. electric grid and fuel AI data center growth. You may recall that the company provides electrical and mechanical construction, energy and industrial infrastructure and building services. So, it’s experienced strong demand for its solutions as power demand increases to support new technology, AI and data centers.

EMCOR Group is expected to announce second-quarter results in late July. Second-quarter earnings are forecast to grow 27.5% year-over-year to $3.76 per share, up from $2.95 per share in the same quarter a year ago. Analysts have also increased earnings estimates over the past three months, so a fifth-straight quarterly earnings surprise is likely.

Second-quarter revenue is expected to increase 15.6% year-over-year to $3.52 billion, compared to $3.05 billion in the second quarter of 2023. EME is a Moderately Aggressive buy below $403.

SOM Technicals:

10–07-23: Closed at 206.72. Trade pressures are down but rising. Volumes are now bullish. The next target up is 211.58.

10-14-23: Closed at 202.02. Trade pressures are down. Volumes are bearish. The next target down is 192.91.

10-27-23: Closed at 205.12. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-2-23: Closed at 210.22. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-10-23: Closed at 210.68. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 229.49.

3-29-24: Closed at 350.20. Trade pressure are up but turning down. Volumes are neutral. The next target up is 354.73. A close below 347.00 signals correction.

4-6-24: Closed at 365.02. Trade pressures are up. Volumes are bullish. The next target up is 369.53, the prior high.

4-14-24: Closed at 351.88. Trade pressures are down but rising. Volumes are neutral. the next target down is 349.26.

4-27-24: Closed at 354.02. Trade pressures are up. Volumes are bullish. The next target up is 367.44.

5-4-24: Closed at 363.77. Trade pressures are down but rising. Volumes are bullish. The next target up is 367.44.

5-10-24: Closed at 380.28. Trade pressures are up. Volumes are bullish. The next target up is 401.49.

5-18-24: Closed at 378.37. Trade pressures are in the neutral zone. Volumes are neural. The next target down is 367.90.

5-25-24: Closed at 398.69. Trade pressures are up. Volumes are bullish. The next target up is 407.49.

6-2-24: Closed at 388.66.. Trade pressures are down. Volumes are bearish. The next target down is 365.98.

6-8-24: Closed at 376.00. Trade pressures are up. Volumes are neutral. The next target up is resistance at 382.37.

6-15-24: Closed at 377.20. Trade pressures are down. Volumes are bullish. The next target down is 365.90.

6-23-24: Closed at 381.27. Trade pressures are down. Volumes are bullish. The next target down is 365.90.

6-30-24: Closed at 365.08. Trade pressures are down. Volumes are bearish. The next target down is 343.73.

7-5-24: Closed at 362.54. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 392.

7-12-24: Closed at 376.45. Trade pressures are up. Volumes are bullish. The next target up is 392.30.

7-20-24: Closed at 363.61. Trade pressures are down. Volumes are neutral. The next target down is 353.54.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider, offering everything from car, boat and motorcycle insurance to homeowners, renters and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates. And Progressive continues to benefit from high insurance rates.

During the month of May, Progressive reported $5.975 billion in net premiums written and $5.857 billion in net premiums earned. The company also reported earnings of $235.7 million, or $0.40 per share for the month of May. That compares to earnings of $420.3 million, or $0.72 per share, in April.

Progressive is scheduled to report results from the most recent quarter on July 16. Earnings are forecast to surge 437.5% year-over-year to $2.15 per share, up from $0.40 per share in the same quarter a year ago. Revenue is expected to grow 16.7% year-over-year to $17.49 billion. PGR is a Conservative buy below $223.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.  

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

6-30-24: Closed at 207.71. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 218.69.

7-5-24: Closed at 210.18. Trade pressures are down. Volumes are neutral. The next target down is 205.22.

7-12-24: Closed at 213.30. Trade pressures are up. Volumes are bullish. The next target up is 218.69.

7-20-24: Closed at 219.35. Trade pressures are up but declining. Volumes are bearish. The next target down 212.57.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) is a midstream energy company that provides gathering and processing systems as well as logistics and transportation systems. The company operates more than 31,000 miles of natural gas pipelines and 53 processing plants, which service top natural gas and crude oil-producing basins in the U.S.

The company operates in the lucrative oil and natural gas-producing region in the Permian Basin, and its operational prowess there is anticipated to continue to add to its top and bottom lines. For the second quarter, analysts expect earnings of $1.21 per share and revenue of $4.5 billion.

I should add that TRGP is one of the few High-Growth Investments that earns a coveted AA-rating – an A-rating in Portfolio Grader and an A-rating in Dividend Grader. The company increased its first-quarter dividend by 50%, paying $0.75 per share on May 15. The stock has a 2.3% dividend yield. TRGP is a Conservative buy below $138.

SOM Technicals:

5-25-24: Closed at 114.28. Trade pressures are down. Volumes are bearish. The next target down is 111.90.

6-2-24: Closed at 118.23. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-8-24: Closed at 118.01. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-15-24: Closed at 119.00. Trade pressures are down. Volumes are neutral. The next target down is 117.63.

6-23-24: Closed at 125.10. Trade pressures are up. Volumes are bearish. The next target down is 123.65.

6-30-24: Closed at 128.78. Trade pressures are up. Volumes are bullish. The next target up is 130.53.

7-5-24: Closed at 132.49. Trade pressures are up. Volumes are bullish. The next target up is 139.71.

7-12-24: Closed at 135.05. Trade pressures are up. Volumes are bullish. The next target up is 137.41.

7-20-24: Closed at 136.37. Trade pressures are up. Volumes remain bullish. The next target up is 139.96.

 

Vertiv Holdings

Vertiv Holdings(VRT) also benefits from the AI revolution, as it aims to help expand the utility grid and data centers. The company primarily provides digital infrastructure, offering a portfolio of power, cooling and IT infrastructure solutions that are vital to commercial and industrial facilities, communication networks and data centers.

Vertiv is expected to announce second-quarter results in late July. The analyst community is looking for earnings of $0.57 per share and revenue of $1.94 billion, which compares to earnings of $0.46 per share and revenue of $1.62 billion in the second quarter of 2023. Analysts have upped earnings estimates slightly in the past three months, so another quarterly earnings surprise is likely. VRT is a Moderately Aggressive buy below $99.

SOM Technicals:

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

4-27-24: Closed at 93.49. Trade pressures are up. Volumes are neutral. The next target up is 94.76.

5-4-24: Closed at 93.01. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 95.70.

5-10-24: Closed at 95.40. Trade pressures are up. Volumes are bullish. The next target up is 100.01.

5-18-24: Closed at 96.81. Trade pressures are down. Volumes are neutral. The next target down is 90.96.

5-25-24: Closed at 106.17. Trade pressures are up. Volumes are bullish. The next target up is 126.68.

6-2-24: Closed at 98.07. Trade pressures are down. Volumes are bullish. The next target up is 101.57.

6-8-24: Closed at 87.68. Trade pressures are down. Volumes are bearish. The next target up is 94.31.

6-15-24: Closed at 91.48. Trade pressures are up. Volumes are neutral. The next target down is 80.34.

6-23-24: Closed at 90.62. Trade pressures are down. Volumes are now neutral. The next target down is 78.22.

6-30-24: Closed at 86.57. Trade pressures are down. Volumes are bearish. The next target down is 78.22.

7-5-24: Closed at 91.78. Trade pressures are up. Volumes are bullish. The next target up is 95.17.

7-12-24: Closed at 89.67. Trade pressures are down. volumes are bearish. The next target down is 85.44.

7-20-24: Closed at 85.31. Trade pressures are down but rising. Volumes are bearish. The next target up is 98.45. 

Navellier Top 5 Stocks for June

High-Growth Investments

EMCOR Group, Inc.

EMCOR Group, Inc. (EME) is one of our AI infrastructure plays. The company provides electrical and mechanical construction, energy and industrial infrastructure and building services. With power demand increasing to support new technology, AI and data centers, demand for EMCOR Group’s solutions is also growing exponentially – and that’s adding to its top and bottom lines.

In the first quarter, earnings soared 76.8% year-over-year to $197.1 million, or $4.71 per share, and revenue rose 18.7% year-over-year to $3.43 billion. The analyst community expected earnings of $2.83 per share and revenue of $3.22 billion, so EMCOR Group posted a 47.3% earnings surprise and a slight revenue surprise.

Given the strong first-quarter results, EMCOR Group increased its outlook for fiscal year 2024. The company now expects full-year revenue between $14.0 billion and $14.5 billion and earnings per share between $15.50 and $16.50. In turn, analysts have upped earnings estimates for the next several quarters and fiscal year 2024. EME is a Moderately Aggressive buy below $444.

SOM Technicals:

10–07-23: Closed at 206.72. Trade pressures are down but rising. Volumes are now bullish. The next target up is 211.58.

10-14-23: Closed at 202.02. Trade pressures are down. Volumes are bearish. The next target down is 192.91.

10-27-23: Closed at 205.12. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-2-23: Closed at 210.22. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-10-23: Closed at 210.68. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 229.49.

3-29-24: Closed at 350.20. Trade pressure are up but turning down. Volumes are neutral. The next target up is 354.73. A close below 347.00 signals correction.

4-6-24: Closed at 365.02. Trade pressures are up. Volumes are bullish. The next target up is 369.53, the prior high.

4-14-24: Closed at 351.88. Trade pressures are down but rising. Volumes are neutral. the next target down is 349.26.

4-27-24: Closed at 354.02. Trade pressures are up. Volumes are bullish. The next target up is 367.44.

5-4-24: Closed at 363.77. Trade pressures are down but rising. Volumes are bullish. The next target up is 367.44.

5-10-24: Closed at 380.28. Trade pressures are up. Volumes are bullish. The next target up is 401.49.

5-18-24: Closed at 378.37. Trade pressures are in the neutral zone. Volumes are neural. The next target down is 367.90.

5-25-24: Closed at 398.69. Trade pressures are up. Volumes are bullish. The next target up is 407.49.

6-2-24: Closed at 388.66.. Trade pressures are down. Volumes are bearish. The next target down is 365.98.

6-8-24: Closed at 376.00. Trade pressures are up. Volumes are neutral. The next target up is resistance at 382.37.

6-15-24: Closed at 377.20. Trade pressures are down. Volumes are bullish. The next target down is 365.90.

6-23-24: Closed at 381.27. Trade pressures are  down. Volumes are bullish. The next target down is 365.90.

 

Nutanix, Inc.

Nutanix, Inc. (NTNX) is another AI play, given that its cloud platform provides security for cloud computing. Nutanix’s Cloud Platform accesses, manages and secures the cloud, data centers and edge locations from a single platform that helps secure and unify operations.

And its services and solutions are in top demand, as it has more than 25,000 top companies and organizations as customers. This includes The Home Depot, Vodafone, Hershey, JetBlue Airways and Micron Technology – just to name a few.

So, I’m looking forward to the company’s upcoming earnings announcement. Nutanix is scheduled to release results for its third quarter in fiscal year 2024 after the market closes on Wednesday, May 29.

Third-quarter earnings are forecast to surge 300% year-over-year to $0.16 per share, compared to $0.04 per share in the same quarter a year ago. Analysts have upped earnings estimates over the past three months, so a fifth-straight quarterly earnings surprise is likely. Third-quarter revenue is expected to come in at $516.18 million. NTNX is a Conservative buy below $79.

SOM Technicals:

5-25-23: Closed at 72.85. Trade pressures are up but declining. Volumes are bullish. The next target down is 68.20.

6-2-24: Closed at 55.32. Trade pressures are down hard. Volumes are bullish at the Friday close. The next target down is 49.82, the 200 day MA.

6-8-24: Closed at 64.74. Trade pressures are down hard. Volumes are bearish. The next target down ism the 200 day MA at 50.48.

6-15-24: Closed at 54.01. Trade pressures are up. Volumes are bearish. The next target up is 55.23.

6-23-24: Closed at 53.40. Trade pressures are in the neutral zone. Volumes are bearish. the next target up is 55.73.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider. It offers everything from car, boat, and motorcycle insurance to homeowners, renters, and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates.

Progressive reported $6.18 billion in premiums written in April and $5.58 billion in premiums earned. The company also had 31.35 million policies in force at the end of April, which represented a 7% year-over-year increase. April earnings totaled $420.3 million, or $0.72 per share.

Given the strength of its business so far this year, the analyst community has continued to up second-quarter earnings forecasts. Second-quarter earnings are now expected to jump 547.5% year-over-year to $2.59 per share, compared to previous estimates for $1.96 per share just three months ago. So, Progressive is likely gearing up for its fourth-straight earnings surprise. PGR is a Conservative buy below $218.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.  

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) is primarily a midstream energy company with gathering and processing systems and logistics and transportation systems. The company operates more than 31,000 miles of natural gas pipelines and 53 processing plants, which service top natural gas and crude oil producing basins in the U.S. Targa Resources also utilizes the Grand Prix NGL Pipeline to transport mixed natural gas liquids (NGLs), as well as 34 storage wells and terminals.

During the first quarter, Targa Resources achieved record Permian and liquefied petroleum gas (LPG) export volumes. As a result, the company also reported total revenue of $4.56 billion and earnings of $275.2 million, representing 0.9% year-over-year revenue growth and 4,268.3% year-over-year earnings growth.

Looking ahead to the second quarter, analysts expect earnings to dip 13.2% year-over-year to $1.25 per share, compared to $1.44 per share in the same quarter a year ago. Revenue is forecast to grow 3.2% year-over-year to $4.5 billion.

Despite the negative forecasted earnings growth, Targa Resources is a Top Stock this month, as I expect it to benefit immensely from higher energy prices this summer. Plus, earnings momentum is set to reaccelerate in the third quarter, with estimates calling for 39.2% year-over-year earnings growth. TRGP is a Conservative buy below $123.

SOM Technicals:

5-25-24: Closed at 114.28. Trade pressures are down. Volumes are bearish. The next target down is 111.90.

6-2-24: Closed at 118.23. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-8-24: Closed at 118.01. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-15-24: Closed at 119.00. Trade pressures are down. Volumes are neutral. The next target down is 117.63.

6-23-24: Closed at 125.10. Trade pressures are up. Volumes are bearish. The next target down is 123.65.

 

Vertiv Holdings

Vertiv Holdings (VRT), another AI play, rounds out the High-Growth Investments Top Stocks this month. The company primarily provides digital infrastructure, with a portfolio of power, cooling and IT infrastructure solutions that are vital to commercial and industrial facilities, communication networks and data centers.

During the first quarter, the company’s orders increased 60% year over year, and its backlog jumped to a new record of $6.3 billion. Total first-quarter sales rose 8% year over year to $1.64 billion, while adjusted earnings grew 41.7% year over year to $248.6 million, or $0.43 per share. Analysts expected earnings of $0.36 per share and revenue of $1.62 billion.

With business momentum expected to accelerate throughout 2024, Vertiv increased its outlook for fiscal year 2024. The company now expects full-year sales between $7.54 billion and $7.69 billion and adjusted earnings per share between $2.29 and $2.35.

Given the positive outlook, analysts have increased earnings estimates for the second quarter over the past three months – and that bodes well for a fifth-straight quarterly earnings surprise. Second-quarter earnings are now expected to grow 23.9% year-over-year to $0.57 per share. VRT is a Moderately Aggressive buy below $121.

SOM Technicals:

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

4-27-24: Closed at 93.49. Trade pressures are up. Volumes are neutral. The next target up is 94.76.

5-4-24: Closed at 93.01. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 95.70.

5-10-24: Closed at 95.40. Trade pressures are up. Volumes are bullish. The next target up is 100.01.

5-18-24: Closed at 96.81. Trade pressures are down. Volumes are neutral. The next target down is 90.96.

5-25-24: Closed at 106.17. Trade pressures are up. Volumes are bullish. The next target up is 126.68.

6-2-24: Closed at 98.07. Trade pressures are down. Volumes are bullish. The next target up is 101.57.

6-8-24: Closed at 87.68. Trade pressures are down. Volumes are bearish. The next target up is 94.31.

6-15-24: Closed at 91.48. Trade pressures are up. Volumes are neutral. The next target down is 80.34.

6-23-24: Closed at 90.62. Trade pressures are down. Volumes are now neutral. The next target down is 78.22.

Navellier Top 5 Stocks for May

High-Growth Investments

Eli Lilly & Company

Eli Lilly & Company (LLY) continues to experience unrelenting demand for its diabetes and weight-loss treatments. In fact, demand is so high that the FDA recently revealed that most doses of Mounjaro and Zepbound could be in limited supply through the end of the current quarter.

In order to keep up with continuing demand, Eli Lilly plans to invest heavily in manufacturing and supply capacity for its injectable medicines like Mounjaro and Zepbound. Just this week, the pharmaceutical company announced plans to purchase a manufacturing facility from Nexus Pharmaceuticals.

In the meantime, we’ll see exactly how robust demand has been for the company’s treatments next week. Eli Lilly is scheduled to release results for its first quarter in fiscal year 2024 before the stock market opens on Tuesday, April 30.

First-quarter earnings are forecast to increase 52.5% year-over-year to $2.47 per share, up from $1.62 per share in the same quarter a year ago. Analysts have increased earnings estimates by nearly 8% in the past month, so a fourth-straight quarterly earnings surprise is likely. First-quarter sales are expected to rise 28.2% year-over-year to $8.92 billion. LLY is a Conservative buy below $801.

SOM Technicals:

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

1-27-24: Closed at 640.00. Trade pressures are up. Volumes are bullish. The next target up is the Breakout of the Upper median line resistance at 639.50.

2-3-24: Closed at 667.66. Trade pressures are up. Volumes are bullish. The next target up is 682.18.

2-10-24: Closed at 741.00. Trade pressures are up. Volumes are now neutral. The next target up is 745.00.

2-16-24: Closed at 786.00. Trade pressures are up. Volumes remain bullish. The next target up is 882.00.

2-25-24: Closed at 769.54. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 712.11.

3-1-24: Closed at 782.12. Trade pressures are in the neutral zone and rising. Volumes are bullish. The next target up is 794.47.

3-9-24: Closed at 762.14. Trade pressures are down. Volumes are bearish. The net target down is 749.88.

3-16-24: Closed at 754.17. Trade pressures are up but turning down. Volumes are bearish. The next target down is 718.42.

3-22-24: Closed at 770.61. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 794.25.

3-29-24: Closed at 777.96. Trade pressures are up. Volumes are now bearish. The next target up 787.40.

4-6-24: Closed at 784.21. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 793.67.

4-14-24: Closed at 751.64. Trade pressures are down. Volumes are bearish. the next target diown is 720.51.

4-27-24: Closed at 733.51. Trade pressures are down but rising. Volumes are neutral. The next target up is the new long entry at 734.81.

5-4-24: Closed at 734.97. Trade pressures are down. Volumes are neutral. The next target down is 707.91.

5-10-24: Closed at 760.00. Trade pressures are down. Volumes are bullish. the next target up is the prior high at 795.50.

5-18-24: Closed at 770.00. Trade pressures are down. Volumes are bullish. The next target up is 781.59.

 

EMCOR Group, Inc.

EMCOR Group, Inc. (EME) provides electrical and mechanical construction, energy and industrial infrastructure, and building services necessary for expanding and enhancing facilities in the U.S. The company’s services have been particularly popular with semiconductor companies as they continue to upgrade their manufacturing facilities.

Just how popular are EMCOR’s services? Well, on Thursday, the company released blowout results for its first quarter in fiscal year 2024. Total first-quarter revenue rose 18.7% year-over-year to $3.43 billion, and earnings soared 76.8% year-over-year to $197.1 million, or $4.17 per share. The analyst community expected first-quarter revenue of $3.22 billion and earnings of $2.83 per share. So, EMCOR Group posted a slight revenue surprise and a 47.3% earnings surprise.

Thanks to the “exceptional start to the year,” EMCOR Group increased its outlook for 2024. For fiscal year 2024, EMCOR Group now expects revenue between $14.0 billion and $14.5 billion, up from previous estimates for $13.5 billion to $14.0 billion. Full-year earnings per share are now forecast to be between $15.50 and $16.50, which is up from previous guidance for $14 to $15. EME is a Moderately Aggressive buy below $391.

SOM Technicals:

10–07-23: Closed at 206.72. Trade pressures are down but rising. Volumes are now bullish. The next target up is 211.58.

10-14-23: Closed at 202.02. Trade pressures are down. Volumes are bearish. The next target down is 192.91.

10-27-23: Closed at 205.12. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-2-23: Closed at 210.22. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-10-23: Closed at 210.68. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 229.49.

3-29-24: Closed at 350.20. Trade pressure are up but turning down. Volumes are neutral. The next target up is 354.73. A close below 347.00 signals correction.

4-6-24: Closed at 365.02. Trade pressures are up. Volumes are bullish. The next target up is 369.53, the prior high.

4-14-24: Closed at 351.88. Trade pressures are down but rising. Volumes are neutral. the next target down is 349.26.

4-27-24: Closed at 354.02. Trade pressures are up. Volumes are bullish. The next target up is 367.44.

5-4-24: Closed at 363.77. Trade pressures are down but rising. Volumes are bullish. The next target up is 367.44.

5-10-24: Closed at 380.28. Trade pressures are up. Volumes are bullish. The next target up is 401.49.

5-18-24: Closed at 378.37. Trade pressures are in the neutral zone. Volumes are neural. The next target down is 367.90.

 

Progressive Corporation

Progressive Corporation (PGR) is a popular insurance company in the U.S., in business since 1937. The company offers a variety of insurance, including car, boat, motorcycle, homeowners, personal and commercial – and all those commercials with Flo and Jamie ensure that folks know they can bundle their auto and property insurance.

And those insurance bundles appear to be popular, as Progressive announced robust results for its first quarter in fiscal year 2024 in mid-April. First-quarter earnings surged 421% year-over-year to $2.33 billion, or $3.94 per share. Adjusted earnings of $3.75 per share topped estimates for $3.21 per share by 16.8%. First-quarter revenue of $17.24 billion also beat estimates for $16.61 billion.

In the wake of its quarterly earnings beat, the analyst community has increased second-quarter earnings estimates by 19% in the past month alone. Second-quarter earnings are now forecast to soar 540% year-over-year to $2.56 per share, compared to $0.40 per share in the same quarter a year ago.

Thanks to the strength of its business and a strong cash flow, Progressive also continues to reward its shareholders. The company paid a quarterly dividend of $0.10 per share on April 12. PGR is a Conservative buy below $224.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06. 

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

 

Royal Caribbean Group

Royal Caribbean Group (RCL) is a well-known cruise operator that provides unique vacation experiences in more than 60 countries around the world. The company operates a fleet of more than 63 cruise ships that provide high-quality accommodations, a variety of dining options and onboard entertainment. And, as evidenced by the company’s latest results, demand for Royal Caribbean’s travel experiences is robust right now.

First-quarter adjusted earnings surged to $478.0 million, or $1.77 per share, up from a loss of $59.0 million, or a $0.23 per share loss, in the first quarter of 2023. Analysts expected adjusted earnings of $1.33 per share, so Royal Caribbean Cruises posted a 33.1% earnings surprise. First-quarter revenue of $3.7 billion also beat estimates for $3.69 billion.

Royal Caribbean Cruises noted that it’s been its strongest season in company history, with record bookings and higher rates for 2024 sailings. As a result, Royal Caribbean Cruises increased its guidance for fiscal year 2024. The company now anticipates full-year adjusted earnings per share between $10.70 and $10.90, which is nicely higher than current estimates for $10.06 per share. RCL is a Moderately Aggressive buy below $159.

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.

12-30-23: Closed at 129.49. Trade pressures are up.  Volumes are bullish  The next target up is 131.93.

1-6-24: Closed at 122.66.  Trade pressures are up into the neutral zone.  Volumes are bullish.  The next target down is 113.67.

1-12-24: Closed at 121.21. Trade pressures are down. Volumes are bearish. The next target down is 113.67.

1-20-24: Closed at 127.00. Trade pressures are up.  Volumes are bullish. The next target up is 130.97.

1-27-24: Closed at 123.46. Trade pressures are down. Volumes are bearish. The next target down is 113.67. 

2-3-24: Closed at 123.44. Trade pressures are down. Volumes are neutral. The next target down is 116.47.

2-10-24: Closed at 116.80. Trade pressures are down. Volumes are bearish. The next target down is 112.30.

2-16-24: Closed at 116.90. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 112.39.

2-25-24: Closed at 121.91. Trade pressures are up. Volumes are neutral. The next target down is 112.39.

3-1-24: Closed at 124.26. Trade pressures are up. Volumes are bullish. The next target up is 126.96.

3-9-24: Closed at 127.42. Trade pressures are up but declining. Volumes are bullish. The next target up is 131.76.

3-16-24: Closed at 128.92. Trade pressures are up but turning down. Volumes are neutral. the next target up is 133.09.

3-22-24: Closed at 125.83. Trade pressures are up. Volumes are bullish. The next target up is 139.33.

4-27-24: Closed at 140.59. Trade pressures are up. Volumes are bullish. The next target up is 142.73.

5-4-24: Closed at 138.21. Trade pressures are down but rising. Volumes are neutral. The next target down is 133.34. A close above 141.05 would signal higher.

5-10-24: Closed at 141.04. Trade pressures are up but declining. Volumes are bullish. The next target down is 135.61.

5-18-24: Closed at 141.92. Trade pressures are up. Volumes are bullish. The next target up is 145.51.

Vertiv Holdings Company

Vertiv Holdings Company (VRT) is a leading provider of digital infrastructure, as it offers power, cooling and IT infrastructure solutions for commercial and industrial facilities, communication networks and data centers. Its solutions are utilized in more than 130 countries, and the company boasts 2,740 global patents, as well as more than 770 pending patents.

On Wednesday morning, Vertiv reported that first-quarter orders jumped 60% year-over-year, and that the company’s backlog increased to a new record of $6.3 billion. Vertiv also reported that first-quarter sales grew 8% year-over-year to $1.64 billion, and adjusted earnings increased 41.7% year-over-year to $248.6 million, or $0.43 per share. Both topped estimates for revenue of $1.62 billion and earnings of $0.36 per share.

Thanks to the strength of its business in the first quarter and anticipation for orders to remain robust going forward, Vertiv upped its outlook for fiscal year 2024. Full-year 2024 sales are now expected to be between $7.54 billion and $7.69 billion, and adjusted earnings per share are forecast to be between $2.29 and $2.35. VRT is a Moderately Aggressive buy below $107.

SOM Technicals:

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

4-27-24: Closed at 93.49. Trade pressures are up. Volumes are neutral. The next target up is 94.76.

5-4-24: Closed at 93.01. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 95.70.

5-10-24: Closed at 95.40. Trade pressures are up. Volumes are bullish. The next target up is 100.01.

5-18-24: Closed at 96.81. Trade pressures are down. Volumes are neutral. The next target down is 90.96.

Navellier TOP 5 Stocks for April

High-Growth Investments

Eli Lilly & Company

Eli Lilly & Company (LLY) is one of two companies that have a lock on diabetes treatments and weight-loss drugs. The pharmaceutical company’s two most popular treatments have both received FDA approval; Zepbound for weight loss and Mounjaro for type 2 diabetes.

Investors are anxious to see how much Zepbound will add to the company’s top and bottom lines this year, as 2024 is the first full year that the treatment is available commercially. Well, product revenue soared to $2.49 billion in the fourth quarter, thanks to strong demand for both Zepbound and Mounjaro. So, the outlook is very, very good.

Eli Lilly is scheduled to release first-quarter results on April 30. For the first quarter, analysts expect earnings of $2.29 per share and revenue of $8.09 billion. That translates to 41.4% year-over-year earnings growth and 16.3% year-over-year revenue growth. Earnings estimates have also been revised higher over the past month, so a fourth-straight quarterly earnings surprise is likely. LLY is a Conservative buy below $842.

SOM Technicals: 

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

1-27-24: Closed at 640.00. Trade pressures are up. Volumes are bullish. The next target up is the Breakout of the Upper median line resistance at 639.50.

2-3-24: Closed at 667.66. Trade pressures are up. Volumes are bullish. The next target up is 682.18.

2-10-24: Closed at 741.00. Trade pressures are up. Volumes are now neutral. The next target up is 745.00.

2-16-24: Closed at 786.00. Trade pressures are up. Volumes remain bullish. The next target up is 882.00.

2-25-24: Closed at 769.54. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 712.11.

3-1-24: Closed at 782.12. Trade pressures are in the neutral zone and rising. Volumes are bullish. The next target up is 794.47.

3-9-24: Closed at 762.14. Trade pressures are down. Volumes are bearish. The net target down is 749.88.

3-16-24: Closed at 754.17. Trade pressures are up but turning down. Volumes are bearish. The next target down is 718.42.

3-22-24: Closed at 770.61. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 794.25.

3-29-24: Closed at 777.96. Trade pressures are up. Volumes are now bearish. The next target up 787.40.

4-6-24: Closed at 784.21. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 793.67.

4-14-24: Closed at 751.64. Trade pressures are down. Volumes are bearish. the next target diown is 720.51.

 

EMCOR Group, Inc.

EMCOR Group, Inc. (EME) has benefited immensely from big-name semiconductor companies, like Intel, Samsung and Taiwan Semiconductor, taking steps to expand and upgrade their manufacturing facilities in the U.S. The fact is EMCOR Group provides the electrical and mechanical construction, energy and industrial infrastructure, and building services these upgrades need.

As a result, the company achieved record results in 2023. EMCOR reported full-year earnings of $633.0 million, or $13.31 per share, and total revenue of $12.58 billion, which represented 55.9% annual earnings growth and 13.6% annual revenue growth.

EMCOR also provided a strong outlook for fiscal year 2024: Full-year earnings per share are forecast to be between $14 and $15 and revenue is expected to be between $13.5 billion and $14.0 billion. And given the positive outlook, analysts have upped first-quarter estimates over the past three months.

The current consensus estimate calls for earnings of $2.83 per share on $3.22 billion in revenue, which translates to 22% year-over-year earnings growth and 12.2% year-over-year revenue growth. EME is a Moderately Aggressive buy below $389.

SOM Technicals: 

10–07-23: Closed at 206.72. Trade pressures are down but rising. Volumes are now bullish. The next target up is 211.58.

10-14-23: Closed at 202.02. Trade pressures are down. Volumes are bearish. The next target down is 192.91.

10-27-23: Closed at 205.12. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-2-23: Closed at 210.22. Trade pressures are up. Volumes are bullish. The next target up is 212.90.

11-10-23: Closed at 210.68. Trade pressures are rising in the neutral zone. Volumes are bullish. The next target up is 229.49.

3-29-24: Closed at 350.20. Trade pressure are up but turning down. Volumes are neutral. The next target up is 354.73. A close below 347.00 signals correction.

4-6-24: Closed at 365.02. Trade pressures are up. Volumes are bullish. The next target up is 369.53, the prior high.

4-14-24: Closed at 351.88. Trade pressures are down but rising. Volumes are neutral. the next target down is 349.26.

 

Parsons Corporation

Parsons Corporation (PSN) was a new addition to the High-Growth Investments Buy List in the March Growth Investor Monthly Issue. If you recall, the company operates in the technology industry, providing services and solutions to the defense, infrastructure and intelligence markets. Primarily, Parsons’ experienced professionals, proprietary technology and solutions help solve complex technical challenges.

Demand for the company’s solutions remains robust. In recent weeks, the company was awarded a $1.0 billion contract to provide project management and engineering support services for Washington, D.C. Metro projects. And this week, Parsons also secured a $28.0 million contract for the Air Force Research Laboratory’s Global Application Research, Development, Engineering and Maintenance program.

Given the strength of its business and ongoing demand from its key markets, Parsons should continue to report strong quarterly results. For the first quarter, the analyst community expects earnings of $0.62 per share and revenue of $1.36 billion. That translates to 44.2% year-over-year earnings growth and 16% year-over-year revenue growth.

Analysts have also increased first-quarter earnings estimates by 10.7% in the past two months. As you know, positive analyst revisions typically precede future earnings surprises. So, Parsons may be gearing up for its fourth-straight quarterly earnings surprise. PSN is a Conservative buy below $90.

SOM Technicals: 

3-29-24: Closed at 82.95. Trade pressures are up. Volumes are bullish. The next target up is 85.03.

4-6-24: Closed at 84.26. Trade pressures are up. Volumes are bullish. The next target up is 85.03, also a new long entry.

4-14-24: Closed at 80.41. Trade pressures are down but rising. Volumes are neutral. The next target down is 77.46.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI), as you know, is one of our artificial intelligence plays, and the company develops high-performance server technology solutions. Thanks to its partnership with NVIDIA and ongoing demand for its AI servers, SMCI shares have been on an absolute tear this year, up more than 255% year-to-date.

Now, the stock did take a breather last week despite its recent addition to the S&P 500. The fact is Super Micro Computer announced a secondary stock offering, and stocks always take a break when a secondary stock offering is announced. But the great news is that Super Micro Computer will take all the money it raises from this offering and continue to dominate the cloud.

In fact, demand for its solutions isn’t anticipated to cool off any time soon. For its third quarter in fiscal year 2024, earnings are forecast to soar 252.1% year-over-year to $5.74 per share. Analysts have also increased earnings estimates by 33.2% in the past three months, so SMCI is set for its fourth-straight quarterly earnings surprise. Revenue is forecast to grow 209% to $3.96 billion. SMCI is an Aggressive buy below $1,407.

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.

10-07-23: Closed at 290.50. Trade pressures are up. Volumes are  bullish. The next target up is 300.25.

10-14-23: Closed at 285.20. Trade pressures are down. Volumes are bearish., The next target down is 253.00.

10-27-23: Closed at 240.99. Trade pressures are down. Volumes are bearish. The next target down is 237.94.

11-3-23: Closed at 255.00. Trade pressures are up. Volumes are bearish. The next target up is 271.21.

11-10-23: Closed at 266.00. Trade pressures are up. Volumes are bullish. The next target up is 281.74.

1-27-24: Closed at 476.10. Trade pressures are down. Volumes are bearish. The next target down is 422.44.

2-3-24: Closed at 579.63. Trade pressures are up. Volumes are bearish. The next target up is 596.65. But some retracement is more likely.

2-10-24: Closed at 740.29. Trade pressures are up. Volumes are bullish. The next target up is unknown. A close below 679.00 would signal lower.

2-16-24: Closed at 820.53 after reaching a high of 1077.57. Trade pressures are up but turning down. Volumes are bearish. Should find some support here.

2-25-24: Closed at 860.01. Trade pressures are up into the neutral zone. Volumes are now bearish. High volatility makes it hard to define a potential target.

3-1-24: Closed at 905.48, but trading $60 higher in the aftermarket. Trade pressures are up. Volumes are bullish. The next target up is 955.59.

3-9-24: Closed at 1140.01. Trade pressures are up. Volumes are bullish. The next target down is 1036.32.

3-16-24: Closed at 1078. Trade pressures are down. Volumes are bearish. the next target down is 990.84.

3-22-24: Closed at 969.50. Trade pressures are up. Volumes are neutral. The next target up is 1028.

3-29-24: Closed at 1010.03. Trade pressures are down. Volumes remain bullish. The next target down is a retest of  the 843.63 target. A break above 1043 signals higher.

4-6-24: Closed at 948.02. Trade pressures are down. Volumes are bearish. The next target down is 843.63.

4-14-24: Closed at 898.49. Trade pressures are rising into the neutral zone. Volumes are bearish. The next target up is 933.88.

 

Vertiv Holdings Company

Vertiv Holdings Company (VRT) earned a spot in the High-Growth Investments Buy List in the March Growth Investor Monthly Issue. The fact is Vertiv is a leading provider of digital infrastructure, and its portfolio of power, cooling and IT infrastructure solutions are vital to commercial and industrial facilities, communication networks and data centers.

Interestingly, Vertiv recently joined NVIDIA’s partner network – and received high praise from NVIDIA’s CEO Jensen Huang. At NVIDIA’s recent conference, Huang stated that NVIDIA has partnered with Vertiv to develop cooling systems, stating, “Vertiv is very important in the supply chain of designing liquid cooled and otherwise data centers.”

So, the strong demand that Vertiv experienced for its solutions in 2023 – its backlog expanded to a record $5.5 billion – should only intensify going forward.

Looking ahead to its first quarter in fiscal year 2024, which will be announced in late April, earnings are forecast to increase 45.8% year-over-year to $0.35 per share. Revenue is expected to rise 6.2% year-over-year to $1.62 billion. Analysts’ earnings estimates have remained steady over the past three months, but Vertiv has a history of posting positive earnings surprises. VRT is an Aggressive buy below $95.

SOM Technicals: 

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

Navellier Top 5 Stocks for March

High-Growth Investments

Builders FirstSource, Inc.

Builders FirstSource, Inc. (BLDR) provides building products through its nearly 500 locations in the U.S. Primarily, the company offers a variety of building supplies, including wall panels, drywall, doors, stairs, windows and siding, for the construction of new homes. So, Builders FirstSource stands to benefit from rate cuts this year, as it will bring mortgage rates down, too.

But while we wait for the Fed to step up and cut rates, Builders FirstSource’s business still remains strong, and the company continues to exceed analysts’ expectations.

For the fourth quarter, the company reported adjusted earnings of $439.3 million, or $3.55 per share, and total sales of $4.15 billion. That compared to adjusted earnings of $3.21 per share and sales of $4.36 billion in the fourth quarter of 2022. Analysts expected adjusted earnings of $2.54 per share and sales of $4.03 billion, so Builders FirstSource posted a 39.8% earnings surprise and a 3% sales surprise.

Looking forward, Builders FirstSource provided a positive outlook for 2024. The company expects total sales between $17.5 billion and $18.5 billion. In turn, analysts have increased full-year 2024 earnings estimates by 11% in the past three months and now expect earnings of $12.96 per share. BLDR is a Moderately Aggressive buy below $223.

SOM Technicals:

11-17-23: Closed at 133.59. Trade pressures are up. Volumes are bullish. The next target up is 157.31.

11-26-23: Closed at 134.71. Trade pressures are up. Volumes are now neutral. The next target up is 138.72.

12-1-23: Closed at 139.28. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 148.97.

12-9-23:Closed at 147.70. Trade pressures are up. Volumes are bullish. The next target up is 156.81 , the prior high.

12-15-23: Closed at 162.51. Trade pressures are up but turning over. Volumes are now neutral. The next target down is 152.40.

12-30-23: Closed at 166.94. Trade pressures are up but tuning over. Volumes are neutral. The next target down is 158.13.

1-6-24: Closed at 159.78.  Trade pressures are down.  Volumes are neutral.  The next target down is 145.22.

1-12-24: Closed at 167.39. Trade pressures are up. Volumes are bullish. The next target up is 171.03. A close below 158 starts a short.

1-20-24: Closed at 172.51. Trade pressures are up. Volumes are bullish. The next target up is 181.14.

1-27-24: Closed at 169.52. Trade pressures are up. Volumes are neutral. The next target up is 178.66, the prior high.

2-3-24: Closed at 180.75. Trade pressures are up. Volumes are bullish. The next target up is 183.36.

2-10-24: Closed at 185.33. Trade pressures are up. Volumes are bullish. The next target up is 199.00.

2-16-24: Closed at 183.79. Trade pressures are down but rising. Volumes are neutral. The next target down is 163.59.

2-25-24: Closed at 188.97. Trade pressures are up. Volumes are bearish. The next target down is 181.79.

3-1-24: Closed at 201.00. Trade pressures are up. Volumes are bullish. The next target up is 204.33.

3-9-24: Closed at 199.84. Trade pressures are up but declining. Volumes are bullish. The next target down is 190.75.

3-16-24: Closed at 195.49. Trade pressures are down. Volumes are bearish. The next target down is 182.35.

3-22-24: Closed at 210.54. Trade pressures are up but turning down. Volumes are bullish. The next target down is 205.30.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

There currently aren’t any analysts following Coca-Cola Consolidated, but the company’s recent results were still robust. For the fourth quarter, the company reported total sales of $1.63 billion and adjusted earnings of $125.6 million, or $13.39 per share.

The company also achieved 7% annual sales growth and 34.5% annual earnings growth in its fiscal year 2023. Adjusted earnings per share increased 34.5% year-over-year to $65.58, compared to $48.75 per share in 2022. COKE is a Moderately Aggressive buy below $910.

SOM Technicals:

1-27-24: Closed at 842.82. Trade pressure are rising into the neutral zone. Volumes are neutral. The next target down is 804.

2-3-24: Closed at 909.51. Trade pressures are up. Volumes are bullish. The next target up is 959.00.

2-10-24: Closed at 865.00. Trade pressures are down. Volumes are bearish. The next target down is 814.00.

2-16-24: Closed at 846.07. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 814.60.

2-25-24: Closed at 829.23. Trade pressures are down. Volumes are neutral. The next target down is the LML at 808.93.

3-1-24: Closed at 830.00. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 796.85.

3-9-24: Closed at 825.07. Trade pressures are down but rising. Volumes are bearish. The next target down is 801.09.

3-16-24: Closed at 830.46. Trade pressures are up but declining. Volumes are bearish. The next target down is 801.09.

3-22-24: Closed at 874.31. Trade pressures are up. Volumes are bullish. The next target up is 890.01.

 

Eli Lilly & Company

Eli Lilly & Company (LLY) is a leading pharmaceutical company, with more than 100 drugs in its pipeline. Two of its most popular treatments right now are Zepbound, a weight-loss treatment, and Mounjaro, a treatment for type 2 diabetes. Both have received FDA approval and have added handsomely to the company’s top and bottom lines.

In fact, new product revenue was led by Mounjaro and Zepbound and soared to $2.49 billion in the fourth quarter. Mounjaro sales accounted for $2.21 billion, while Zepbound sales accounted for $175.8 million. The company achieved total fourth-quarter sales of $9.35 billion, topping estimates for $8.93 billion. Fourth-quarter earnings of $2.25 billion, or $2.49 per share, also beat estimates for earnings of $2.22 per share.

Looking ahead to fiscal year 2024, Eli Lilly expects full-year sales between $40.4 billion and $41.6 billion, or 18.4% to 21.9% annual revenue growth. Full-year 2024 earnings per share are forecast to be between $12.20 and $12.70, representing 93% to 100.9% annual earnings growth.

In the wake of the positive quarterly results and outlook, the analyst community has increased first-quarter earnings estimates over the past month. LLY is a Moderately Aggressive buy below $843.

SOM Technicals: 

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

1-27-24: Closed at 640.00. Trade pressures are up. Volumes are bullish. The next target up is the Breakout of the Upper median line resistance at 639.50.

2-3-24: Closed at 667.66. Trade pressures are up. Volumes are bullish. The next target up is 682.18.

2-10-24: Closed at 741.00. Trade pressures are up. Volumes are now neutral. The next target up is 745.00.

2-16-24: Closed at 786.00. Trade pressures are up. Volumes remain bullish. The next target up is 882.00.

2-25-24: Closed at 769.54. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 712.11.

3-1-24: Closed at 782.12. Trade pressures are in the neutral zone and rising. Volumes are bullish. The next target up is 794.47.

3-9-24: Closed at 762.14. Trade pressures are down. Volumes are bearish. The net target down is 749.88.

3-16-24: Closed at 754.17. Trade pressures are up but turning down. Volumes are bearish. The next target down is 718.42.

3-22-24: Closed at 770.61. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 794.25.

 

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. (RCL) is a well-known cruise operator that’s provided unique vacation experiences at sea since 1969. The company’s fleet of more than 63 cruise ships travels to more than 270 destinations in more than 60 countries. So, it’s no wonder Royal Caribbean has been voted Best Cruise Line Overall for 20 straight years.

Business has finally resumed as usual in the wake of the COVID pandemic, as evidenced by its “exceptional” results in fiscal year 2023. Royal Caribbean achieved record bookings last year, which drove total 2023 revenue to $13.9 billion and adjusted earnings of $1.8 billion, or $6.77 per share. These results exceeded analysts’ expectations for earnings of $6.62 per share.

Given its record bookings, Royal Caribbean is in a strong position for 2024 – and the analyst community appears to agree. First-quarter earnings estimates have been revised 47% higher over the past two months. First-quarter earnings are now forecast to surge to $1.22 per share, compared to an earnings loss of $0.23 per share in the first quarter of 2023. RCL is a Moderately Aggressive buy below $142.

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.

12-30-23: Closed at 129.49. Trade pressures are up.  Volumes are bullish  The next target up is 131.93.

1-6-24: Closed at 122.66.  Trade pressures are up into the neutral zone.  Volumes are bullish.  The next target down is 113.67.

1-12-24: Closed at 121.21. Trade pressures are down. Volumes are bearish. The next target down is 113.67.

1-20-24: Closed at 127.00. Trade pressures are up.  Volumes are bullish. The next target up is 130.97.

1-27-24: Closed at 123.46. Trade pressures are down. Volumes are bearish. The next target down is 113.67. 

2-3-24: Closed at 123.44. Trade pressures are down. Volumes are neutral. The next target down is 116.47.

2-10-24: Closed at 116.80. Trade pressures are down. Volumes are bearish. The next target down is 112.30.

2-16-24: Closed at 116.90. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 112.39.

2-25-24: Closed at 121.91. Trade pressures are up. Volumes are neutral. The next target down is 112.39.

3-1-24: Closed at 124.26. Trade pressures are up. Volumes are bullish. The next target up is 126.96.

3-9-24: Closed at 127.42. Trade pressures are up but declining. Volumes are bullish. The next target up is 131.76.

3-16-24: Closed at 128.92. Trade pressures are up but turning down. Volumes are neutral. the next target up is 133.09.

3-22-24: Closed at 125.83. Trade pressures are up. Volumes are bullish. The next target up is 139.33.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) remains one of the hottest artificial intelligence (AI) stocks this year. If you recall, the company develops high-performance server technology solutions that are utilized by companies like NVIDIA Corporation (AI). And it has experienced incredible demand for its AI services, which was evident in its blowout quarterly results.

For its second quarter in fiscal year 2024, Super Micro Computer achieved earnings of $5.59 per share and total sales of $3.66 billion. That translated to 71.5% year-over-year earnings growth and more than 100% year-over-year sales growth. Analysts only expected earnings of $4.93 per share, so SMCI posted a 13.4% earnings surprise.

But what really had Wall Street excited was the company’s guidance. Super Micro Computer upped its outlook for fiscal year 2024, as it now expects full-year sales between $14.3 billion and $14.7 billion. That was up from previous estimates for $10.0 billion to $11.0 billion.

In the wake of this positive sales outlook, the analyst community has increased third-quarter earnings estimates by 32.7% in the past two months. Third-quarter earnings are now forecast to soar 250.9% year-over-year to $5.72 per share. SMCI is an Aggressive buy below $1,258.

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.

10-07-23: Closed at 290.50. Trade pressures are up. Volumes are  bullish. The next target up is 300.25.

10-14-23: Closed at 285.20. Trade pressures are down. Volumes are bearish., The next target down is 253.00.

10-27-23: Closed at 240.99. Trade pressures are down. Volumes are bearish. The next target down is 237.94.

11-3-23: Closed at 255.00. Trade pressures are up. Volumes are bearish. The next target up is 271.21.

11-10-23: Closed at 266.00. Trade pressures are up. Volumes are bullish. The next target up is 281.74.

1-27-24: Closed at 476.10. Trade pressures are down. Volumes are bearish. The next target down is 422.44.

2-3-24: Closed at 579.63. Trade pressures are up. Volumes are bearish. The next target up is 596.65. But some retracement is more likely.

2-10-24: Closed at 740.29. Trade pressures are up. Volumes are bullish. The next target up is unknown. A close below 679.00 would signal lower.

2-16-24: Closed at 820.53 after reaching a high of 1077.57. Trade pressures are up but turning down. Volumes are bearish. Should find some support here.

2-25-24: Closed at 860.01. Trade pressures are up into the neutral zone. Volumes are now bearish. High volatility makes it hard to define a potential target.

3-1-24: Closed at 905.48, but trading $60 higher in the aftermarket. Trade pressures are up. Volumes are bullish. The next target up is 955.59.

3-9-24: Closed at 1140.01. Trade pressures are up. Volumes are bullish. The next target down is 1036.32.

3-16-24: Closed at 1078. Trade pressures are down. Volumes are bearish. the next target down is 990.84.

3-22-24: Closed at 969.50. Trade pressures are up. Volumes are neutral. The next target up is 1028.

 

Navellier Top 5 Stocks for February

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.

Through its nearly 500 locations, Builders FirstSource, Inc. (BLDR) provides building products throughout the U.S. Simply put, the company offers everything that homebuilders need for the construction of new homes, from wall panels and drywall to doors, stairs, windows and siding. So, the company stands to benefit immensely from key interest rate cuts this year, as it will bring mortgage rates down and spur demand for new homes.

Builders FirstSource scheduled its fourth-quarter and full-year 2023 earnings announcement for February 22. Currently, the consensus estimate calls for fourth-quarter earnings of $2.54 per share on $4.0 billion in revenue, compared to earnings of $3.21 per share and revenue of $4.36 billion in the fourth quarter of 2022. Full-year revenue is also anticipated to decline 25.4% year-over-year, while earnings are forecast to drop 26.8% year-over-year.

But Builders FirstSource has a history of posting double-digit earnings surprises; it posted 36%, 96%, 55% and 14% earnings surprises in the past four quarters, respectively. Analysts have also upped fourth-quarter and full-year earnings estimates in recent months, so I’m expecting another earnings surprise in February. BLDR is a Moderately Aggressive buy below $191.

SOM Technicals:

11-17-23: Closed at 133.59. Trade pressures are up. Volumes are bullish. The next target up is 157.31.

11-26-23: Closed at 134.71. Trade pressures are up. Volumes are now neutral. The next target up is 138.72.

12-1-23: Closed at 139.28. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 148.97.

12-9-23:Closed at 147.70. Trade pressures are up. Volumes are bullish. The next target up is 156.81 , the prior high.

12-15-23: Closed at 162.51. Trade pressures are up but turning over. Volumes are now neutral. The next target down is 152.40.

12-30-23: Closed at 166.94. Trade pressures are up but tuning over. Volumes are neutral. The next target down is 158.13.

1-6-24: Closed at 159.78.  Trade pressures are down.  Volumes are neutral.  The next target down is 145.22.

1-12-24: Closed at 167.39. Trade pressures are up. Volumes are bullish. The next target up is 171.03. A close below 158 starts a short.

1-20-24: Closed at 172.51. Trade pressures are up. Volumes are bullish. The next target up is 181.14.

1-27-24: Closed at 169.52. Trade pressures are up. Volumes are neutral. The next target up is 178.66, the prior high.

2-3-24: Closed at 180.75. Trade pressures are up. Volumes are bullish. The next target up is 183.36.

2-10-24: Closed at 185.33. Trade pressures are up. Volumes are bullish. The next target up is 199.00.

2-16-24: Closed at 183.79. Trade pressures are down but rising. Volumes are neutral. The next target down is 163.59.

2-25-24: Closed at 188.97. Trade pressures are up. Volumes are bearish. The next target down is 181.79.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) was a new addition to the High-Growth Investments Buy List in the January Growth Investor Monthly Issue. The company bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

The first nine months of 2023 were spectacular for Coca-Cola Consolidated, as it achieved sales of $5.02 billion and earnings of $489.24 million. Third-quarter earnings accounted for $1.71 billion in sales and $164.34 million in earnings. There aren’t any analysts following the stock, but given the robust results in the first nine months of the year, the company should achieve strong fourth-quarter and full-year 2023 results.

I should also add that Coca-Cola Consolidated is not only a growth stock but also an income stock. The company will pay a quarterly dividend of $0.50 per share and a special dividend of $16 per share on February 9. All shareholders of record on January 26 will receive the dividend. The stock has a 0.2% dividend yield. COKE is a Moderately Aggressive buy below $921.

SOM Technicals:

1-27-24: Closed at 842.82. Trade pressure are rising into the neutral zone. Volumes are neutral. The next target down is 804.

2-3-24: Closed at 909.51. Trade pressures are up. Volumes are bullish. The next target up is 959.00.

2-10-24: Closed at 865.00. Trade pressures are down. Volumes are bearish. The next target down is 814.00.

2-16-24: Closed at 846.07. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 814.60.

2-25-24: Closed at 829.23. Trade pressures are down. Volumes are neutral. The next target down is the LML at 808.93.

 

Eli Lilly & Company

Eli Lilly & Company (LLY) is a leading pharmaceutical company, with more than 100 drugs in its pipeline. Two of its most-popular treatments right now are Zepbound, a weight-loss treatment, and Mounjaro, a treatment for type 2 diabetes. Both have received FDA approval and are anticipated to add handsomely to the company’s top and bottom lines for the foreseeable future.

Eli Lilly plans to announce results for its fourth quarter and fiscal year 2023 on February 6. Fourth-quarter earnings are forecast to grow 21.5% year-over-year to $2.54 per share, compared to $2.09 per share in the same quarter a year ago. Fourth-quarter revenue is expected to rise 21.9% year-over-year to $8.9 billion.

The strength of Eli Lilly’s business has enabled the company to reward its shareholders quarter after quarter. Eli Lilly has paid a dividend for an impressive 175 straight quarters. The company’s next dividend of $1.30 per share will be paid on March 8 to all shareholders of record on February 15. The dividend represents a 165% increase over the dividend paid just 10 years ago. So, clearly, Eli Lilly aims to reward its shareholders. LLY is a Moderately Aggressive buy below $696.

SOM Technicals: 

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

1-27-24: Closed at 640.00. Trade pressures are up. Volumes are bullish. The next target up is the Breakout of the Upper median line resistance at 639.50.

2-3-24: Closed at 667.66. Trade pressures are up. Volumes are bullish. The next target up is 682.18.

2-10-24: Closed at 741.00. Trade pressures are up. Volumes are now neutral. The next target up is 745.00.

2-16-24: Closed at 786.00. Trade pressures are up. Volumes remain bullish. The next target up is 882.00.

2-25-24: Closed at 769.54. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 712.11.

 

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. (RCL) has bounced back impressively from the pandemic, which largely shut down the entire cruise industry. While many cruise lines have struggled to rebound, Royal Caribbean Cruises revealed that its third-quarter bookings had exceeded 2019 levels. Its fleet of 65 cruise ships is back to traveling to more than 1,000 destinations around the world.

Given that demand remains robust, Royal Caribbean Cruises is set to report blowout quarterly results on Thursday, February 1. For its fourth quarter, earnings are forecast to surge to $1.13 per share, compared to a $1.12 per share loss in the fourth quarter of 2022. The analyst community has increased earnings estimates over the past three months, so a fourth-straight quarterly earnings surprise is likely. Fourth-quarter revenue is also expected to grow 29.1% year-over-year to $3.36 billion.

Fiscal year 2023 results are anticipated to be equally impressive, with the current consensus estimate calling for $6.61 per share and revenue of $13.93 billion. That compares to an earnings loss of $7.50 per share and revenue of $8.84 billion in 2022. RCL is a Moderately Aggressive buy below $142.

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.

12-30-23: Closed at 129.49. Trade pressures are up.  Volumes are bullish  The next target up is 131.93.

1-6-24: Closed at 122.66.  Trade pressures are up into the neutral zone.  Volumes are bullish.  The next target down is 113.67.

1-12-24: Closed at 121.21. Trade pressures are down. Volumes are bearish. The next target down is 113.67.

1-20-24: Closed at 127.00. Trade pressures are up.  Volumes are bullish. The next target up is 130.97.

1-27-24: Closed at 123.46. Trade pressures are down. Volumes are bearish. The next target down is 113.67. 

2-3-24: Closed at 123.44. Trade pressures are down. Volumes are neutral. The next target down is 116.47.

2-10-24: Closed at 116.80. Trade pressures are down. Volumes are bearish. The next target down is 112.30.

2-16-24: Closed at 116.90. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 112.39.

2-25-24: Closed at 121.91. Trade pressures are up. Volumes are neutral. The next target down is 112.39.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) is one of my favorite artificial intelligence stocks, especially right now, as the stock has soared more than 66% to start 2024. The fact is the company develops high-performance server technology solutions, and it continues to experience robust demand for its AI servers. And that’s added handsomely to its top and bottom lines.

Prior to its quarterly earnings announcement on Monday, January 29, Super Micro Computer released preliminary results. Fourth-quarter revenue is now forecast to be between $3.6 billion and $3.65 billion, compared to previous estimates for $2.7 billion to $2.9 billion. Fourth-quarter adjusted earnings per share are now expected to be between $5.40 and $5.55, up from previous estimates for $4.40 to $4.88. That represents 65.6% to 70.2% year-over-year earnings growth.

In the wake of the increased guidance, the analyst community upped fourth-quarter earnings estimate to $4.93 per share. That’s still well below Super Micro Computer’s new guidance, so the company is likely gearing up for a big earnings surprise on Monday. SMCI is an Aggressive buy below $633.

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.

10-07-23: Closed at 290.50. Trade pressures are up. Volumes are  bullish. The next target up is 300.25.

10-14-23: Closed at 285.20. Trade pressures are down. Volumes are bearish., The next target down is 253.00.

10-27-23: Closed at 240.99. Trade pressures are down. Volumes are bearish. The next target down is 237.94.

11-3-23: Closed at 255.00. Trade pressures are up. Volumes are bearish. The next target up is 271.21.

11-10-23: Closed at 266.00. Trade pressures are up. Volumes are bullish. The next target up is 281.74.

1-27-24: Closed at 476.10. Trade pressures are down. Volumes are bearish. The next target down is 422.44.

2-3-24: Closed at 579.63. Trade pressures are up. Volumes are bearish. The next target up is 596.65. But some retracement is more likely.

2-10-24: Closed at 740.29. Trade pressures are up. Volumes are bullish. The next target up is unknown. A close below 679.00 would signal lower.

2-16-24: Closed at 820.53 after reaching a high of 1077.57. Trade pressures are up but turning down. Volumes are bearish. Should find some support here.

2-25-24: Closed at 860.01. Trade pressures are up into the neutral zone. Volumes are now bearish. High volatility makes it hard to define a potential target.

Navellier Top 5 Stocks for January

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 a leading provider of building products in the U.S., with about 500 locations. The company offers everything that homebuilders need for new home construction, including wall panels, drywall, doors, stairs, roof and floor trusses, windows and siding.

So, the Federal Reserve’s recent decision to stand pat for the third-straight month and outlook for key interest rates cuts in 2024 is great news for Builders FirstSource. The fact is the Fed’s decision is causing mortgage rates to decline and that could ignite more home construction – and in turn, more demand for Builders FirstSource’s products.

For the fourth quarter, the current consensus estimate calls for $2.55 per share earnings and sales of $4.01 billion. That’s down from earnings of $3.21 per share and sales of $4.36 billion in the fourth quarter of 2022. However, the company has a history of posting positive earnings surprises, and the analyst community has upped earnings estimates over the past month. BLDR is a Moderately Aggressive buy below $183.

SOM Technicals:

11-17-23: Closed at 133.59. Trade pressures are up. Volumes are bullish. The next target up is 157.31.

11-26-23: Closed at 134.71. Trade pressures are up. Volumes are now neutral. The next target up is 138.72.

12-1-23: Closed at 139.28. Trade pressures are down into the neutral zone. Volumes are bullish. The next target up is 148.97.

12-9-23:Closed at 147.70. Trade pressures are up. Volumes are bullish. The next target up is 156.81 , the prior high.

12-15-23: Closed at 162.51. Trade pressures are up but turning over. Volumes are now neutral. The next target down is 152.40.

12-30-23: Closed at 166.94. Trade pressures are up but tuning over. Volumes are neutral. The next target down is 158.13.

1-6-24: Closed at 159.78.  Trade pressures are down.  Volumes are neutral.  The next target down is 145.22.

1-12-24: Closed at 167.39. Trade pressures are up. Volumes are bullish. The next target up is 171.03. A close below 158 starts a short.

1-20-24: Closed at 172.51. Trade pressures are up. Volumes are bullish. The next target up is 181.14.

 

Eli Lilly & Company

Eli Lilly & Company (LLY) remains a leading player in the weight loss industry. Its Zepbound treatment recently received FDA approval and should be available by the end of this year. You may recall that the drug manufacturer’s treatment for type 2 diabetes, Mounjaro, already received FDA approval, and this recent approval expands the indication for the drug.

Aside from its weight-loss and diabetes treatments, Eli Lilly has more than 100 drugs in its pipeline – and it continues to research and develop new treatments to improve the lives of its patients. And its efforts, coupled with robust demand for its treatments, continue to add to the company’s top and bottom lines.

Eli Lilly will release results for its fourth quarter in fiscal year 2023 on February 6, 2024. Fourth-quarter earnings are forecast to increase 33% year-over-year to $2.78 per share, up from $2.09 per share in the same quarter a year ago. Revenue is expected to grow 22.5% year-over-year to $8.94 billion. LLY is a Moderately Aggressive buy below $619.

SOM Technicals: 

10-07-23: Closed at 567.87. Trade pressures are up. Volumes are now bullish. The next target up is 575.41.

10-14-23: closed at 609.20. Trade pressures are up and trending. Volumes are now bearish. The next target up is 636.00. There is the large gap near 460 to fill.

10-27-23: Closed at 560.23. Trade pressures are down. Volumes are bearish. The next target down is 559.00.

11-3-23: Closed at 567.81. Trade pressures are up but turning down. Volumes are neutral. The next target down is 535.00.

11-10-23: Closed at 597.50. Trade pressures are down. Volumes are neutral. Rolling over after the rally, the next target down is 544.70.

11-17-23: Closed at 591.74. Trade pressures are down but rising. Volumes are neutral. The next target up is 629.97.

11-26-23: Closed at 601.10. Trade pressures are up Volumes are neutral. In consolidation. The next target up is 619.40.

12-1-23: Closed at 584.04. Trade pressures are down. Volumes are bearish. The next target down is 573.69.

12-9-23: Closed at 598.05. Trade pressures are up. Volumes are bullish. The next target up is 611.72.

12-15-23: Closed at 571.22. Trade pressures are down. Volumes are down. The next target down is 55.74 then 529.00.

12-30-23: Closed at 581.60. Trade pressures are up. Volumes are bullish. The next target down is 560.26.

1-6-24: Closed at 618.55.  Trade pressures are up. Volumes are neutral. The next target up is a retest of the 636.15 target.

1-12-24: Closed at 642.92. Trade pressures are up. Volumes are bullish. The next target up is 664.52.

1-20-24: Closed at 628.58. Trade pressures are down. Volumes are neutral. The next target down is 606.55.

 

Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. (RCL) is a popular cruise line that provides unique vacation experiences at sea, with its dining options, high-quality accommodations, on-board entertainment and excursions on shore. The company operates a fleet of more than 60 cruise ships that travel to 270+ destinations around the world.

And in the post-pandemic world, Royal Caribbean Cruises has experienced strong demand for the experiences it offers. In the third quarter, adjusted earnings surged 1,519% year-over-year to $1.1 billion, or $3.85 per share, which topped estimates for $3.48 per share. Third-quarter revenue of $4.2 billion also beat expectations for $4.05 billion.

Given the strong quarterly results, Royal Caribbean Cruises increased its outlook for fiscal year 2023. In turn, the analyst community has also upped fourth-quarter earnings estimates. Fourth-quarter earnings are now forecast to come in at $1.10 per share, compared to a loss of $1.12 in the same quarter a year ago and analysts’ previous estimates of $1.05 per share. RCL is a Moderately Aggressive buy below $146.

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.

12-30-23: Closed at 129.49. Trade pressures are up.  Volumes are bullish  The next target up is 131.93.

1-6-24: Closed at 122.66.  Trade pressures are up into the neutral zone.  Volumes are bullish.  The next target down is 113.67.

1-12-24: Closed at 121.21. Trade pressures are down. Volumes are bearish. The next target down is 113.67.

1-20-24: Closed at 127.00. Trade pressures are up.  Volumes are bullish. The next target up is 130.97.

 

Toll Brothers, Inc.

Toll Brothers, Inc. (TOL) constructs quality luxury home communities in the U.S. and is committed to rewarding its shareholders. Thanks to a strong operating cash flow, Toll Brothers recently announced that it will buy back 20% of its outstanding shares and continue to increase its quarterly dividend.

Company management noted that its outstanding share count has declined by almost 40% thanks to stock buybacks. Toll Brothers has also upped its quarterly dividend by 162.5% over the past six years. It plans to pay a $0.21 per share quarterly dividend on January 26 to all shareholders of record on January 12.

Clearly, Toll Brothers’ management remains bullish on the company’s booming business – and for good reason! In the fourth quarter of fiscal year 2023, Toll Brothers delivered 2,755 homes and achieved revenue of $2.95 billion. Fourth-quarter earnings were $445.5 million, or $4.11 per share. Analysts expected $3.72 per share and revenue of $2.77 billion. TOL is a Moderately Aggressive buy below $112.

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.

11-17-23: Closed at 85.79. Trade pressures are up. Volumes are bullish. The next target up is 88.40.

11-26-23: Closed at 85.52. Trade pressures are up but declining. Volumes are now neutral. The next target down is 83.00.

12-3-23: Closed at 87.78. Trade pressures are up. Volumes are bullish. The next target up is 93.15

12-9-23: Closed at 92.86. Trade pressures are up. Volumes are bullish. The next target up is 97.21.

12-15-23: Closed at 102.79. Trade pressures are up. Volumes are now neutral. The next target up is 115.21, but retracement is likely to close the gap first.

12-30-23: Closed at 102.79. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 97.66.

1-6-24: Closed at 99.79. Trade pressures are down.  Volumes are bearish.  The next target down is 95.72.

1-12-24: Closed at 101.32. Trade pressures are down. Volumes are bearish. The next target down is 95.72.

1-20-24: Closed at 101.09. Trade pressures are up. Volumes are bullish.  The next target up is 105.18.

 

TopBuild Corporation

TopBuild Corporation (BLD) was a new addition to the High-Growth Investments Buy List in the December Monthly Issue. You may recall that TopBuild, like Builders FirstSource, has benefited from the recent increase in new home construction. The company is one of the top installers and distributors of installation and other building materials in North America.

The insulation market is expected to grow at a compound annual growth rate of 7.2% in the current decade and is forecast to reach $127.6 billion by 2032. Clearly, that equates to strong demand for TopBuild’s services and insulation products, especially as the new home construction market heats up in the U.S. in the wake of lower mortgage rates.

For the fourth quarter, the current consensus estimate calls for earnings of $4.63 per share on $1.29 billion in sales. That translates to 5.2% year-over-year earnings growth and 1.7% year-over-year sales growth. Analysts have also increased by 7.2% over the past two months, so a fifth-straight quarterly earnings surprise is likely. BLD is a Moderately Aggressive buy below $428.

SOM Technicals:

12-30-23: Closed at 374.26. Trade pressures are up but declining. Volumes are neutral. The next target down 361.63.

1-6-24: Closed at 351.61. Trade pressures are down. Volumes are neutral. The next target down is 337.72. 

1-12-24: Closed at 365.98. Trade pressures are up. Volumes are bearish. The next target down is 337.32.

1-20-24: Closed at 373.26. Trade pressures are up. Volumes are bullish. The next target up is 382.95.