The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2020 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

DocuSign, Inc.

DocuSign, Inc. (DOCU) is making its fifth-straight appearance on the Top 5 Stocks list this month. You may recall that DocuSign developed a cloud-based platform that enables companies to create, upload and send agreements to stakeholders for electronic signatures. Many companies were moving toward a paperless approach to contracts and other agreements, but the global pandemic has accelerated this movement. In fact, the company experienced a 55% increase in enterprise and commercial clients during its second quarter in fiscal year 2021.

This increase in clients certainly added to DocuSign’s top and bottom lines, too. The company reported total revenue of $342.2 million and earnings of $0.17 per share, or 45% annual revenue growth and 1,600% annual earnings growth. Given these blowout second-quarter results, DocuSign, as well as the analyst community, has increased its third-quarter expectations.

DocuSign is anticipated to release results for its third quarter in fiscal year 2021 in early December. The current consensus estimate calls for earnings of $0.13 per share on $361.3 million in revenue, which represents 18.2% annual earnings growth and 44.8% annual revenue growth.

Considering that DocuSign has crushed analysts’ earnings estimates by an average 134% over the past four quarters, I’m looking for another quarter of blowout results. DOCU is a Moderately Aggressive buy below $222.

SOM Technicals:

6-26-20: Closed at 177.58. Trade pressures are up. Volumes are bullish. This spike up is not likely to continue in the face of the sell off.

7-4-20: Closed at 190.99. Trade pressures are up. Volumes are bullish. This parabolic move is very uncomfortable.

7-10-20: Closed at 210.11. Trade pressures are up but reversing. A close below 210 would signal lower.

7-18-20: Closed at 196.42. Trade pressures are down but rising. Volumes are neutral. The next target up is 217.

7-24-20: Closed at 190.95. Trade pressures are down. Volumes are bearish. The next target down is 172.23.

7-30-20: Closed at 217.45. Trade pressures are up. Volumes are bullish. The next target up is 257.20.

8-7-20: Closed at 205.00. Trade pressures are down. Volumes are bearish. Dropped thru two downside targets this week. The next target down is 185.06.

8-15-20: Closed at 199.71. Trade pressures are neutral. Volumes are neutral also. Traded down near the 185.06 target and now has moved higher. At the 25×5 MA and looks lower. The next target don is the 185.91 Target.

8-21-20: Closed at 210.18. Trade pressures are up but showing reversal. Volumes are bullish. The next target up is 221.00.

8-29-20: Closed at 215.24. Trade pressures are up. Volumes are bearish. resistance here at the 217.23 level, which is also the new long entry.

9-5-20: Closed at 216.26: Trade pressures are down. Volumes are bearish. Sitting on the 25×5 MA support at 216.

9-12-20: Closed at 197.94. Trade pressures are down. Volumes are bearish. A close below 196.53 triggers a new short entry.

9-19-20: Closed at 194.42. Trade pressures are down. Volumes are neutral. The next target down is 173.35.

9-26-20: Closed at 212.36. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 173.35.

10-11-20: Closed at 225.80. Trade pressures are down into the neutral zone. Volumes are bullish. A close above 240 would signal higher.

10-17-20: Closed at 234.60. Trade pressure are up. Volume are bullish. The next target up is 300.00.

10-24-20: Closed at 219.82. Trade pressures are down but reversing. Volumes are bearish. The next target down is 195.29.

10-30-20: Closed at 202.25. Trade pressures are down. Volumes are bearish. the next target down is 195.29.

11-07-20: Closed at 231.69. Trade pressures are up but reversing. Volumes are bearish. Resistance at 246 held. the next raget down is the 195 prior target.

11-14-20: Closed at 205.70. Trade pressures are now up but reversing again. Volumes are bearish. The 195 level was touched then rallied to the close.

11-20-20: Closed at 221.59. Trade pressures are up. V olumes are bullish.  The next target up is 241.70.

 

Logitech International S.A.

Logitech International S.A. (LOGI) continues to benefit from the boom in online gaming, as well as the move to remote working environments, during the global pandemic. You may recall that Logitech offers a range of products from keyboards and mice to iPad and tablet accessories, from headsets and webcams to video conferencing tools and speakers. And strong demand for these products added nicely to Logitech’s top and bottom lines.

In fact, for its second quarter in fiscal year 2021, which was reported on October 20, Logitech achieved sales of $1.26 billion, or a 75% year-over-year increase. That crushed analysts’ estimates for $834.55 million. Second-quarter earnings soared 295% year-over-year to $354 million, or $1.87 per share, also topping forecasts for $0.57 per share by a whopping 228.1%.

Logitech noted that the surge in its business during its second quarter was a direct result of the new environment: “Our products are essential to helping customers work, play and create wherever they are. Logitech is well positioned for long-term growth.”

As a result, Logitech increased its full-year 2021 outlook. The company now expects to achieve sales growth between 35% and 40%, up from its previous forecast for 10% to 13% annual sales growth. Full-year earnings are forecast to be between $700 million and $725 million, compared to previous estimates for $410 million to $425 million. LOGI is a Conservative buy below $92.

SOM Technicals:

10-30-20: Closed at 84.65. Trade pressures are down. Volumes are bearish. The next target down is 78.25.

11-07-20: Closed at 95.94. Trade pressures are up and trending. Volumes are bullish. the next target up is 95.71 the prior high.

11-14-20: Closed at 83.16. Trade pressures  have turned up. Volumes are neutral. The 75 level has held as support.

11-20-20: Closed at 83.72. Trade pressures are up. Volumes are bullish. Remains in the downtrend. The resistance is 87.50.

 

 

Novavax, Inc.

Novavax, Inc. (NVAX) is another one of our Buy List companies that’s benefiting from the global pandemic. Specifically, Novavax is well-known for developing vaccines for the toughest viruses in the world, so it’s no surprise that the company has a leg in the race for the coronavirus vaccine.

Earlier this week, Novavax provided an update on its Phase 3 clinical trial for the COVID-19 vaccine. The company has expanded its clinical trial in the U.K. to include 15,000 volunteers, which will enable Novavax to determine the safety and efficacy of its vaccine candidate quicker. Data from the trial is anticipated in the first quarter of 2021.

Novavax also noted that its Phase 3 clinical trial in the U.S. and Mexico is slated to start by the end of November. The trial is supported by the U.S. government’s Operation Warp Speed, and it is expected to enroll up to 30,000 volunteers.

Given the positive developments regarding the COVID-19 vaccine, analysts are expecting stunning third-quarter results from Novavax. The company is expected to report earnings for the third quarter in early November. Analysts are looking for earnings to surge 347.3% year-over-year to $1.83 per share, up from a $0.74 earnings per share loss in the same quarter a year ago. NVAX is an Aggressive buy below $125.

SOM Technicals:

9-26-20: Closed at 113.56. Trade pressures are up. Volumes are bullish. The next target up is 129.69.

10-11-20: Closed at 111.12. Trade pressures are up and trending. Volumes are buillish. The next target up is 129.00. 

10-17-20: Closed at 107.04. Trade pressures are down. volumes are bearish. A close below 101 would signal lower.

10-24-20: Closed at 93.13. Trade pressures are down and trending. Volumes are bullish. the next target down is 73.45.

10-30-20: Closed at 80.71. Trade pressures are down but rising. The next target down is 73.45. A close above 117.39 would start a new move up.

11-07-20: Closed at 89.86. Trade pressures are up but reversing. Volumes are bullish. Need a close above the 25×5 at 98 to restart the move up.

11-14-20: Closed at 96.60. Trade pressures are up. Volumes are bullish. A close above 100 would signal higher.

11-20-20: Closed at 86.60. Trade pressures are down. Volumes are bearish. At resistance. The next target down is 73.45. A break of the resistance would signal higher to 117.39.

 

Quidel Corporation

Quidel Corporation (QDEL) has continued to exhibit tremendous relative strength. In fact, shares rose 8% this week versus the Dow’s 6.5% drop and the S&P 500’s 5.6% dip. As we discussed in the October 26 Special Market Podcast, the market pulled back on rising coronavirus fears. Confirmed cases accelerated over the weekend, leading several European countries to impose restrictions again.

No one wants to see another outbreak of the virus, but investors were optimistic that rising cases will create more demand for Quidel’s coronavirus diagnostic tests. Quidel has already ramped up the production of its rapid antigen test, doubling production to about two million tests per week. The company also plans to build more production lines, with a goal of producing more than 22 million tests per year by July 2021.

Clearly, the need for coronavirus testing isn’t going away any time soon—and that bodes particularly well for Quidel’s business. The analyst community agrees. Third-quarter earnings estimates were revised a whopping 98.7% higher in the three months leading up to Quidel’s quarterly report. And on Thursday evening, Quidel did not disappoint, posting blowout third-quarter results.

For the third quarter, Quidel achieved total revenue of $476.1 million, up 276% from the $126.5 million in the same quarter a year ago. Third-quarter earnings surged 725.7% year-over-year to $5.78 per share, compared to $0.70 per share in the third quarter of 2019. The analyst community was expecting earnings of $4.75 per share on revenue of $450.39 million, so Quidel beat earnings estimates by 21.7% and revenue forecasts by 5.7%. QDEL is an Aggressive buy below $322.

SOM Technicals:

7-30-20: Closed at 282.47. Trade pressures are up. Volumes are bullish. The next target up is 367.57.

8-7-20: Closed at 272.76. Trade pressures are down. Volumes are bearish. The next target down is 259.83 the 25×5 MA.

8-15-20: Closed at 245.93. Trade pressures are up. Volumes are bearish. At the 25×5 MA. Should act as resistance. The next target down is 215.00.

8-21-20: Closed at 241.52. Trade pressures are in the neutral zone. Volume are bearish. Appears to want to test the 200.00 support level.

8-29-20: Closed at 162.97. Trade pressures are down hard. Volumes are neutral, short covering? The 200 day MA held as support. A close above 188.83 is the new long entry.

9-5-20: Closed at 154.41. Trade pressures are down. Volumes are bearish. 200 day MA is holding as support.

9-12-20: Closed at 161.19. Trade pressures are rising into the neutral zone. Volumes are now bullish. A close above 188.63 would signal higher.

9-19-20: Closed at 188.50. Trade pressures are up. Volumes are bullish. Has triggered a new long entry. The next target up is 248.00.

9-26-20: Closed at 196.77. Trade pressures are up but turning down. Volumes are bullish. The next target down is 161.41.

10-11-20: Closed at 278.05. (Nice  move while i was gone!) Trade pressures are up and trending. Volumes are bullish. The next target up is 290.43.

10-17-20: Closed at 255.25. Trade pressures are down. Volumes are bearish. A retest of the breakout. support at 223.

10-14-20: Closed at 248.21. Trade pressures are down and trending. Volumes are bearish. At the 239 support.

10-30-20: Closed at 268.29. Trade pressures are up but reversing. Volumes are bullish. the 239 support held. The next target down is 201.45 which would be voided by any close above 287.30.

11-07-20: Closed at 283.46. Trade pressures are up. Volumes are bullish. The next target up is 290.43.

11-14-20: Closed at 198.65. Trade pressures are down. Volumes are bearish. Vaccine prospects presage less testing. At support now.

11-20-20: Closed at 187.19. Trade pressures are down. Volumes are bearish. At 180.00, the 200 day MA as support. A close above 217 is required to restart any new move up.

 

Zoom Video Communications, Inc.

Zoom Video Communications, Inc. (ZM) isn’t showing any signs of slowing down. The company has probably been one of the biggest beneficiaries of the coronavirus pandemic, as primary schools, colleges and businesses alike turned to its online communication platform to host classes, study groups, meetings and even job interviews. Individuals have also utilized the platform in order to maintain relationships with family and friends from afar.

During the second quarter alone, Zoom’s revenue soared 355% year-over-year and earnings surged 1,045% year-over-year. Analysts are now looking for a repeat performance in the third and fourth quarters, especially since European countries like Ireland and Italy recently reinstated lockdown restrictions and curfews. So, it looks like Zoom’s communication platform will remain in top demand for the foreseeable future.

To account for this surge, analysts have upped third-quarter earnings estimates by 117% in the past two months and fourth-quarter forecasts by 124% in the past three months. Third-quarter earnings are now expected to soar 744.4% year-over-year to $0.76 per share and revenue is anticipated to jump 315.3% year-over-year to $691.93 million.

Zoom hasn’t provided an exact date for its third-quarter earnings release yet, but the company is expected to announce results in early December. ZM is an Aggressive buy below $553.

SOM Technicals:

7-30-20: Closed at 253.91. Trade pressures are down but rising into the neutral zone. Volumes are bearish. The next target down is 209.79.

8-7-20: Closed at 258.73. Trade pressures are down. Volumes are Bearish. The next target down is 239.12.

8-15-20: Closed at 244.91. Trade pressures are up. Volumes are bearish. Rising into net bearish volumes after reaching the 227.53. target. Need to get thru the 25×5 MA at 254.63, otherwise more downside.

8-21-20: Closed at 289.68. Trade pressures are up and trending. Volumes are bullish. The resistance was non- existent. A new long entry was triggered at 271.00.

8-29-20: Closed at 299.27. Trade pressures are up. Volumes are bullish. The next target up is 314.82.

9-5-20: Closed at 369.89. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 314.78 which would close the gap up. 

9-12-20: Closed at 383.00. Trade pressures are now up. Volumes are bearish. A close below 376 would signal a new leg down.

9-19-20: Closed at 438.73. Trade pressures are up. Volumes are bullish. In the new move after a back test to try to close the gap at 345. The next target up is 470.76.

9-26-20: Closed at 496.50. Trade pressures are up but declining. Volumes are now neutral. The next target down is 452.23.

10-11-20: Closed at 492.41. Trade pressures up Volumes are bullish. The next target up is the 529.74  prior high.

10-17-20: Closed at 559.00. Trade pressures are up and trending. Volumes are bullish. the next target up is 594.76.

10-24-20: Closed at 511.52. Trade pressures are down. Volumes are bearish. The next target down is 487.96.

10-30-20: Closed at 460.91. Trade pressures are down. Volumes are bearish. The next target down is 446.50.

11-07-20: Closed at 500.11. Trade pressures are up. Volumes are bullish. Need to clear the 25×5 resistance at 501.00.

11-14-20: Closed at 403.68. Trade pressures are up into the neutral zone. Volumes are bearish. The next target down is 357.00.

11-20-20: Closed at 439.60. Trade pressures are up. Volumes are now bullish. The next target up is resistance at 470.00.

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has cleared the prior highs. Gold and silver are still basing.

Crude oil is moving to the lower bound of the channel. Natural gas is in a move higher.

The US 30 Year Treasury Bond is in a sustained move down.

The US Dollar futures are declining with the bond markets.

_______________________

S&P 500 Futures_

Monthly – Remains in the move up. Trade pressures are up. Volumes close the September month as bullish. The next target up is 3948. A close below 3129 would confirm any weekly move lower.

Weekly – In the April move up. Trade pressures are up but reversing. Volumes are bullish. The next target up is the 3579 prior high. A close below 3273 would confirm any daily move lower.

Daily – Flat. In a retracement move down from the 3451 short entry. Trade pressures are up. Volumes are neutral. The next target down is 3351. A close above 3533 would signal a new move higher.

A waiting the stimulus legislation.
$2 trillion would do wonders to the flows in the market.
Q3 earnings reports are surprising to the upside.

[10-28-20: lower stop to 3307.The next target down is 3162.]
[10-29-20: stopped out.]

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks benefited from the rally this last week. The portfolio stocks were down for the week and are now valued at approximately $124,000, up 24% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into these earnings reports.

 

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is at resistance. Gold and silver continue to base awaiting the stimulus agreement.

Crude oil is drifting in a long channel; is storage filling up? Natural gas is in a second leg up.

The US Treasury bond futures are in a move down.

The US Dollar futures are also in a move down.

_______________________

S&P 500 Futures_

Monthly – Still at the high end of the monthly bar. Trade pressures are up. Volumes closed the month of Sept as bullish. The next target up is 3948. A close below 3154 would confirm any weekly mover lower.

Weekly – Have broken above the down trend line, the upper median line. Trade pressures are up but reversing. Volumes remain bullish. The next target up is the 3576 prior high. A close below 3273 would confirm any daily  move lower.

Daily – Broke above the daily upper median line last week. Looked for a pullback, which happened thursday. Trade pressures are down into the neutral zone. Volumes are bullish. Need a reversal in the daily Trade pressures to commit to a new long. Earnings next week may be the catalyst. A close below 3385 level would signal a new move lower.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks benefited from the rally this last week. The portfolio stocks were up for the week and are now valued at approximately $133,000, up 33% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is testing upper resistances. Gold and silver are turning higher.

Crude is in the same 35-45 channel. Natural gas is in a new move up.

The US 30 year Treasury is testing support.

The US Dollar futures are at support.

_______________________

S&P 500 Futures_

Monthly – MTD is still near prior month close. Trade pressures are up. Volume close the month of September as bullish. The next target up is the prior high of 3576 then 3948. A close below 3156 would confim,r any weekly close lower.

Weekly – The 4 week retracement stopped at the new short entry of 3273. Trade pressures are up but rolling over. Volumes are still bullish. The next target up is the prior high of 3576. A close below the short entry at 3273 would confirm any daily move lower.

Daily  – Flat. Friday close was a break-out above the downward sloping andrews upper median line. Trade pressures are up. Volumes are bullish. Expect a back test of this breakout; could use that as an entry around the 3400 level. The next target up is 3533. A close below 3395 would signal a new move lower.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks benefited from the rally these last two weeks. The portfolio stocks were up for both weeks and are now valued at approximately $131,000, up 31% for the YTD. This move up has absorbed the March down move of 32%.

The portfolio fundamentals continue to be important as the market narrows. Institutions are likely buying these TOP 5 better fundamentals into the next earnings reports..

 

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has pulled back to trest support. Gold and Silver declined into the weeks-end as the dollar strengthened.

Crude oil remains in consolidation. Natural gas had a hard sell off down to 2.48 and rebounded into the close for the week.

The US 30 year Treasuries are in a slow move up in the face of a rising dollar.

The US Dollar futures are in the new move up after the basing completed.

_______________________

S&P 500 Futures_

Monthly – Over a 300 point drop so far for the month. Trade pressures are up. Volumes closed the Month of August as bullish, albeit on light volumes. The next target up will be the prior high at 3576. A close below 3115 would confirm any weekly move lower.

Weekly – In a retracement down form the 3576 highs. Trade pressures are up but rolling over. Volumes are bullish. The next target up is 3642. A close below 3273 would confirm any daily move lower.

Daily – Short. In the move down from the 3350 short entry. Trade pressures are down but rising. Volumes are now neutral. The next target down is 3239 with the profit target at 3128. A close above the 25×5 MA at 3388 would signal higher.

[9-27-20: Set the stop at 3320.] [9-28-20: Stopped out in the AM. Look for a new short opportunity near 3358]

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks countered the market sell off once more this last week. The portfolio stocks were up for the week and are now valued at approximately $122,000, up 22% for the YTD.

The portfolio fundamentals continue to be important as the market narrows. Institutions are buying these better fundamentals into the quarter end.

Kroger (KR) and West Pharmaceuticals (WST) will be replaced at the open on Monday with GenMab (GMAB) and Novamax (NVAX).

[The author may have long or short positions in any of the securities mentioned.]

he following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
(For this 2020 year, SOM will track only the Top 5 Hi-Growth Investments.)

https://navelliergrowth.investorplace.com/

Navellier says,

High-Growth Investments

DocuSign, Inc.

DocuSign, Inc. (DOCU) is one of the hottest stocks in the Growth Investor Buy Lists, as the stock has climbed an impressive 60% in the past four months. The reality is that the company has fared well during the global pandemic given that many folks are afraid to sign documents; whether it’s a reluctance to visit an office or the potential for germs on pens.

As a result, many have turned to DocuSign to utilize their e-signature technologies. You may recall that DocuSign offers a cloud-based platform that enables businesses and individuals to develop, upload, sign and send agreements and documents virtually. And its technology can be integrated with several solutions, including Salesforce and Workday.

So, it’s not surprising that DocuSign posted incredible results for its second quarter in fiscal year 2021. The company reported total revenue of $342.2 million and earnings of $0.17 per share, which represented 45% annual revenue growth and 1,600% annual earnings growth. Analysts were expecting earnings of $0.08 per share, so DocuSign posted a whopping 112.5% earnings surprise.

Following the better-than-expected earnings report, analysts started to up their third-quarter earnings outlook. Earnings are now expected to grow 18.2% year-over-year to $0.13 per share, and revenue is forecast to rise 44.6% year-over-year to $360.87 million. DOCU is a Moderately Aggressive buy below $235.

SOM Technicals:

6-26-20: Closed at 177.58. Trade pressures are up. Volumes are bullish. This spike up is not likely to continue in the face of the sell off.

7-4-20: Closed at 190.99. Trade pressures are up. Volumes are bullish. This parabolic move is very uncomfortable.

7-10-20: Closed at 210.11. Trade pressures are up but reversing. A close below 210 would signal lower.

7-18-20: Closed at 196.42. Trade pressures are down but rising. Volumes are neutral. The next target up is 217.

7-24-20: Closed at 190.95. Trade pressures are down. Volumes are bearish. The next target down is 172.23.

7-30-20: Closed at 217.45. Trade pressures are up. Volumes are bullish. The next target up is 257.20.

8-7-20: Closed at 205.00. Trade pressures are down. Volumes are bearish. Dropped thru two downside targets this week. The next target down is 185.06.

8-15-20: Closed at 199.71. Trade pressures are neutral. Volumes are neutral also. Traded down near the 185.06 target and now has moved higher. At the 25×5 MA and looks lower. The next target don is the 185.91 Target.

8-21-20: Closed at 210.18. Trade pressures are up but showing reversal. Volumes are bullish. The next target up is 221.00.

8-29-20: Closed at 215.24. Trade pressures are up. Volumes are bearish. resistance here at the 217.23 level, which is also the new long entry.

9-5-20: Closed at 216.26: Trade pressures are down. Volumes are bearish. Sitting on the 25×5 MA support at 216.

9-12-20: Closed at 197.94. Trade pressures are down. Volumes are bearish. A close below 196.53 triggers a new short entry.

9-19-20: Closed at 194.42. Trade pressures are down. Volumes are neutral. The next target down is 173.35.

9-26-20: Closed at 212.36. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 173.35.

10-11-20: Closed at 225.80. Trade pressures are down into the neutral zone. Volumes are bullish. A close above 240 would signal higher.

10-17-20: Closed at 234.60. Trade pressure are up. Volume are bullish. The next target up is 300.00.

10-24-20: Closed at 219.82. Trade pressures are down but reversing. Volumes are bearish. The next target down is 195.29.

 

Genmab A/S

Genmab A/S (GMAB) is a biotechnology company that’s focused on developing antibody therapeutics to treat cancer. Currently, Genmab has two products on the market: DARZALEX, or Daratumumab, to treat multiple myeloma and Arzerra, or Ofatumumab, to treat specific indications of chronic lymphocytic leukemia.

Recently, Janssen Biotech, Inc. submitted a supplemental Biologics License Application (sBLA) for Genmab’s DARZALEX FASPRO with the FDA. The application will be reviewed by the FDA under Project Orbis and RTOR pilot program to determine if the treatment is a viable option for adults with light-chain (AL) amyloidosis. With the submission of the sBLA, Genmab receives an $8 million milestone payment.

Thanks to rising demand for its antibody therapeutics, vast clinical pipeline and strategic partnership with AbbVie, Genmab has strong forecasted sales growth and earnings estimates have been revised higher over the past three months. Third-quarter sales are expected to soar 55.8% year-over-year to $241.41 million. Earnings per share estimates have been upped 91.7% in the past three months, which bodes well for a third-straight quarterly earnings surprise. GMAB is a Conservative buy below $39.

SOM Technicals:

9-26-20: Closed at 36.02. Trade pressures are down but rising. Volumes are neutral. The next target down is 33.20.

10-11-20: closed at 37.46. Trade pressures are up. V olumes are neutral. Trade down to the 34.28 down side target then rallied. Still in the down trend but a close above 38.52 changes to uptrend.

10-17-20: Closed at 36.79. Trade pressures are down but reversing. Volumes are neutral. At supprort.

10-24-20: Closed at 35.67. Trade pressures are down and basing. Volumes are bullish. The next target down is 34.28.

 

Novavax, Inc.

Novavax, Inc. (NVAX) was one of our September additions to the High-Growth Investments Buy List. If you recall, the company develops vaccines for the toughest viruses in the world. Novavax currently has a strong pipeline of vaccine candidates, including several that are in Phase 2 and 3 clinical trials. But its coronavirus vaccine candidate is one of the main reasons why we added the stock to the Buy List.

Novavax’s vaccine candidate is being funded by both the federal government through Operation Warp Speed and the Bill & Melinda Gates Foundation. Thanks to positive Phase 1 results, the company has started multiple Phase 2 clinical trials, including in the U.S. and Australia. And Canada recently announced that it will purchase up to 76 million doses of Novavax’s vaccine.

Given the success of its early clinical trials and countries knocking on its door for the approved vaccine, the analyst community has aggressively increased their third-quarter earnings outlook. Analysts are expecting earnings of $1.83 per share, up from previous estimates for an earnings per share loss of $0.10. As you know, positive earnings revisions typically precede future earnings surprises. NVAX is an Aggressive buy below $181.

SOM Technicals:

9-26-20: Closed at 113.56. Trade pressures are up. Volumes are bullish. The next target up is 129.69.

10-11-20: Closed at 111.12. Trade pressures are up and trending. Volumes are buillish. The next target up is 129.00. 

10-17-20: Closed at 107.04. Trade pressures are down. volumes are bearish. A close below 101 would signal lower.

10-24-20: Closed at 93.13. Trade pressures are down and trending. Volumes are bullish. the next target down is 73.45.

 

Quidel Corporation

With more primary schools and universities opening their doors, the need for coronavirus testing kits is growing exponentially. In fact, my daughter attends Cornell University, and they continually check her for the virus (negative results each time). One of the biggest beneficiaries of all the coronavirus testing is our own Quidel Corporation (QDEL), which developed the SARS-CoV-2 test for COVID-19.

According to a recent article from Reuters, U.S. manufacturers are ramping up production on COVID-19 tests, looking to achieve 100 million test each month by the end of year. Quidel, along with Abbott Labs, Becton Dickinson & Co. and LumiraDX, all received authorization for their antigen tests. Quidel actually received an emergency use authorization (EUA) from the FDA for its SARS-CoV-2 test earlier this year.

As a result, analysts are anticipating blowout third-quarter results. The consensus estimate calls for earnings of $4.06 per share, or 480% annual earnings growth, and revenue of $394.28 million. Analysts have also increased earnings by an incredible 80.4% in the past three months, so a fifth-straight quarterly earnings surprise is likely. QDEL is an Aggressive buy below $237.

SOM Technicals:

7-30-20: Closed at 282.47. Trade pressures are up. Volumes are bullish. The next target up is 367.57.

8-7-20: Closed at 272.76. Trade pressures are down. Volumes are bearish. The next target down is 259.83 the 25×5 MA.

8-15-20: Closed at 245.93. Trade pressures are up. Volumes are bearish. At the 25×5 MA. Should act as resistance. The next target down is 215.00.

8-21-20: Closed at 241.52. Trade pressures are in the neutral zone. Volume are bearish. Appears to want to test the 200.00 support level.

8-29-20: Closed at 162.97. Trade pressures are down hard. Volumes are neutral, short covering? The 200 day MA held as support. A close above 188.83 is the new long entry.

9-5-20: Closed at 154.41. Trade pressures are down. Volumes are bearish. 200 day MA is holding as support.

9-12-20: Closed at 161.19. Trade pressures are rising into the neutral zone. Volumes are now bullish. A close above 188.63 would signal higher.

9-19-20: Closed at 188.50. Trade pressures are up. Volumes are bullish. Has triggered a new long entry. The next target up is 248.00.

9-26-20: Closed at 196.77. Trade pressures are up but turning down. Volumes are bullish. The next target down is 161.41.

10-11-20: Closed at 278.05. (Nice  move while i was gone!) Trade pressures are up and trending. Volumes are bullish. The next target up is 290.43.

10-17-20: Closed at 255.25. Trade pressures are down. Volumes are bearish. A retest of the breakout. support at 223.

10-14-20: Closed at 248.21. Trade pressures are down and trending. Volumes are bearish. At the 239 support.

 

Zoom Video Communications, Inc.

Zoom Video Communications, Inc. (ZM) has certainly been one of the biggest beneficiaries of the global pandemic, as its online video and audio conference call platform has been a primary tool for companies to continue to do business. In fact, ZM shares defied broader market weakness earlier this week when the U.K. imposed a new round of restrictions and encouraged citizens to work from home. ZM shares are up more than 65% in the past four weeks alone, versus the S&P 500’s 6% decline.

Part of this strength came on the heels of a stunning second-quarter earnings reports. For its second quarter in fiscal year 2021, Zoom achieved revenue of $663.5 million and earnings of $274.8 million, or $0.92 per share, which represented 355% annual revenue growth and 1,045% annual earnings growth. The consensus estimate called for earnings of $0.45 per share, so Zoom posted an incredible 104.4% earnings surprise.

Looking forward, I expect Zoom to continue to outperform the broader market and its peers, as demand remains strong for its platform for the foreseeable future. And I’m not alone. The analyst community has increased third-quarter earnings estimates by 123.5% in the past three months. For its third quarter in fiscal year 2021, earnings are expected to surge 744% year-over-year to $0.76 per share and revenue is forecast to soar 315.4% year-over-year to $692.05 million. ZM is an Aggressive buy below $601.

SOM Technicals:

7-30-20: Closed at 253.91. Trade pressures are down but rising into the neutral zone. Volumes are bearish. The next target down is 209.79.

8-7-20: Closed at 258.73. Trade pressures are down. Volumes are Bearish. The next target down is 239.12.

8-15-20: Closed at 244.91. Trade pressures are up. Volumes are bearish. Rising into net bearish volumes after reaching the 227.53. target. Need to get thru the 25×5 MA at 254.63, otherwise more downside.

8-21-20: Closed at 289.68. Trade pressures are up and trending. Volumes are bullish. The resistance was non- existent. A new long entry was triggered at 271.00.

8-29-20: Closed at 299.27. Trade pressures are up. Volumes are bullish. The next target up is 314.82.

9-5-20: Closed at 369.89. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 314.78 which would close the gap up. 

9-12-20: Closed at 383.00. Trade pressures are now up. Volumes are bearish. A close below 376 would signal a new leg down.

9-19-20: Closed at 438.73. Trade pressures are up. Volumes are bullish. In the new move after a back test to try to close the gap a t 345. The next target up is 470.76.

9-26-20: Closed at 496.50. Trade pressures are up but declining. Volumes are now neutral. The next target down is 452.23.

10-11-20: Closed at 492.41. Trade pressures up Volumes are bullish. The next target up is the 529.74  prior high.

10-17-20: Closed at 559.00. Trade pressures are up and trending. Volumes are bullish. the next target up is 594.76.

10-24-20: Closed at 511.52. Trade pressures are down. Volumes are bearish. The next target down is 487.96.

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is in a new leg up. Gold and Silver remain in consolidation.

Crude oil is retesting the downtrend resistance line. Nat Gas is in the move down.

The US treasury market is in a trading move up. FED comments expect no rate increases for some time.

The US Dollar futures are basing and look higher.

_______________________

S&P 500 Futures_

Monthly – Retracing in the move up. Trade pressures are up. Volumes closed the month of August as bullish but with a much lower volume. The next target up is the prior high at 3576. A close below 3290 would confirm any weekly move lower.

Weekly – Retracing the move up. Trade pressures are up but rolling over. Volumes are bearish. The next target up would be a retest of the high pivot at 3576. A close below 3273 would confirm any daily move lower.

Daily – Short. In the move down from 3350 in the second leg after the lower high mid week. Trade pressures are down. Volumes are bearish. The next target down is 3239. Need a close above 3491 to restart the move up.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks countered the market sell off  this last week. The portfolio stocks were up for the week and are now valued at approximately $116,000, up 16% for the YTD.

The portfolio fundamentals continue to be important as the market narrows.

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is looking lower. Gold and silver are tracking each other sideways.

Crude Oil is lower but expecting a retracement up.

The US 30 Treasury Bond is moving up but will take it’s cue from the US Dollar.

The US Dollar futures are basing and look higher.

___________________

S&P Futures_

Monthly – Trading down hard in the September month. Trade pressures are still up. The Volumes closed the month of August as bullish. The next target up is the 3576 prior high. A close below 3300 will equal the new weekly signal lower.

Weekly – In a retracement down of the prior move up. Trade pressures are up and extended. Volumes are now neutral. The next target up is the prior high at 3576.The next target down at 3273 is the new short entry signal and would confirm any daily move lower.

Daily – A down week, but the 3273 new short entry is not yet triggered. Trade pressures are down and trending. Volumes are bearish. The next target down is that new short entry art 3275. A close above 3358 would signal a retracement move up to test resistance.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks continued the sell off  this last week. The portfolio stocks were flat for the week and are still valued at approximately $110,000, now up 10% for the YTD.

The portfolio fundamentals continue to be important as the market narrows.

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper has moved back to the prior highs. Gold and Silver are consolidating around 1950 and 28.

Crude oil has broken down. Natgas is in a retracement down.

The US 30 year Treasury bonds are down with the equity markets, not normal.

The US Dollar futures have met the downside targets and are not showing bullish volumes coming in.

_______________________

S&P 500 Futures_

Monthly – In the move up[ from the 2845 long entry. Trade pressures are up. Volumes closed the month of August as bullish. The next target up is 3948. A close below 2953 would confirm any weekly move lower.

Weekly – In the move up from the 2430 long entry. Trade pressures are up. volumes are bullish. The next target up is 3642. A close below 3255 would confirm ant daily move lower.

Daily – Flat. In the move up from the 3173 long entry. Trade pressures are down. Volumes are bullish. The next target up is 3980. A close below 3283 would signal a new move lower. The 25×5 MA at 3345 is acting as support. The 200 day at 3076 is a likely downside target.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks rallied with the ZOOM earnings reports during this last week. The portfolio stocks were up 3% for the week and valued at approximately $110,000, now up 10% for the YTD. The portfolio was up 23% at one point before the selloff late in the week.

The portfolio fundamentals continue to be important as the market narrows.

[The author may have long or short positions in any of the securities mentioned.]

#emini #spfutures #SP500 #ES

Market Pressures_

Copper is moving with the equity markets. Gold and silver both in consolidation inside a retracement move down.

Crude oil is waiting for the producers to further restrict supply. Natural gas remains in the move up towards the 3.00 levels.

The US 30 year Treasury Bond is retracing inside the move up.

The US Dollar futures are trying to move off the recent lows.  May have one more leg down.

_______________________

S&P 500 Futures_

Monthly – In the move up. Trade pressures are up. Volumes closed the month of July as Bullish. August volumes appear much lower. The next target up is 3948. A close below 3223.41 would confirm any weekly move lower.

Weekly – Continues in the move up. Trade pressures are up. Volumes are bullish. The next target up is 3582. A close below 3223 would confirm many daily move lower.

Daily – Flat. In the move up. Friday broke up out of a small downward channel to resume the larger move up. Trade pressures are up. Volumes are bullish. The next target up is 3576. A close below 3363 would signal a new move lower.

_______________________

Navellier Top 5 Stocks – This Top 5 model portfolio begins the year at $100,000. Only the Top 5 Growth stocks will be tracked this 2020 year.

The Top 5 portfolio stocks dropped with earnings reports during this last week. The portfolio stocks were down 5% for the week and valued at approximately $107,000, now up 7% for the YTD. The portfolio fundamentals continue to be important as the market narrows.

DexCom (DXCM) and Genmab (GMAB) will be replaced at the open on Monday with Kroger (KR) and West Pharmaceuticals (WST).

 

[The author may have long or short positions in any of the securities mentioned.]