Category: Public

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.

 

Navellier Top 5 Stocks for December

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), like our new recommendation TopBuild, continues to benefit from increased demand for new homes. You may recall that Builders FirstSource is a leading provider of building products in the U.S., with about 550 locations. The company provides everything from wall panels, roof and floor trusses, stairs and trim to drywall, doors, rails, vinyl windows and siding.

For the third quarter, Builders FirstSource reported total sales of $4.5 billion and adjusted earnings of $533.6 million, or $4.24 per share. Analysts expected adjusted earnings of $3.72 per share, so the company posted a 14% earnings surprise.

For fiscal year 2023, Builders FirstSource remains confident that it will achieve total sales between $16.8 billion and $17.1 billion. The analyst community has also upped full-year 2023 earnings estimates by 4% in the past month. Earnings are now forecast to be $13.59 per share, compared to previous estimates for $13.07 per share. As you know positive analyst revisions typically precede future earnings surprises. BLDR is a Moderately Aggressive buy below $148.

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.

 

Eli Lilly & Company. 

Eli Lilly & Company (LLY) is a leading drug manufacturer, and it’s a dominant player in the weight-loss industry these days. Morgan Stanley’s research anticipates that the market for weight-loss treatment could reach $77.0 billion in 2030 – and Eli Lilly’s obesity treatment, Zepbound, stands directly in line to benefit from this booming market.

Just last week, Eli Lilly revealed that its weight-loss treatment received FDA approval. The company’s treatment for type 2 diabetes, Mounjaro, had already received FDA approval, and the company sought to expand its indication. Well, the FDA approved the expansion for the treatment of obesity, and the weight-loss drug will be sold under the brand name Zepbound.

Eli Lilly anticipates that Zepbound will be available as a weight-loss treatment by the end of the year. With the FDA approval, many insurance companies should now cover the treatment, too—so sales are expected to surge. FactSet analysts anticipate that Zepbound sales will crack $11.8 billion in 2025, compared to $4.5 billion in 2023. LLY is a Conservative buy below $647.

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.

 

Novo Nordisk A/S

Novo Nordisk A/S (NVO) is our other play on the booming weight-loss market. The company develops treatments for diabetes and obesity, as well as other chronic illnesses, rare blood diseases and endocrine diseases. Novo Nordisk’s leading weight-loss and diabetes treatments are Wegovy and Ozempic. Wegovy has actually been approved by the FDA, as well as by several other countries, as a weight-loss treatment.

But Wegovy has the potential to be more than just a weight-loss drug. Novo Nordisk recently revealed that Wegovy has helped reduce the risk of heart attack, stroke and even death from cardiovascular disease. Based on a Phase 3 study, Wegovy exhibited “a statistically significant 20% reduction in major cardiovascular events.”

Given the positive results from the study, Novo Nordisk has asked the FDA to update the Wegovy label to include the heart benefits for the treatment. This means that the FDA could further expand Wegovy’s approval, making it available to patients with cardiovascular disease. Overall, sales of Novo Nordisk’s Wegovy are anticipated to skyrocket. NVO is a Conservative buy below $108.

SOM Technicals: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

10-07-23: Closed at 92.21. Trade pressures are up. Volumes are bullish. The next target up is 93.92.

10-14-23: Closed at 102.14. Trade pressures are up. Volumes are bearish. The next target down is 100.52.

10-27-23: Closed at 93.50. Trade pressures are down. Volumes are bearish. The next target down is 86.32.

11-3-23: Closed at 98.17. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 95.21.

11-10-23: Closed at 100.95. Trade pressures are down. volumes are neutral. The next target down is 97.79.

11-17-23: Closed at 101.39. Trade pressures are up.  Volumes are neutral. The next target down is 92.

11-26-23: Closed at 105.45. Trade pressures are up. Volumes are bullish. The next target up is 112.28.

12-1-23: Closed at 100.40. Trade pressures are down. Volumes are bearish. The next target down is 98.94.

12-9-23: Closed at 96.64. Trade pressures are down. Volumes ae bearish. The next target down is 94.76.

12-15-23: Closed at 97.10. Trade pressures are down into the neutral zone. The next target down is 93.28.

 

NVIDIA Corporation

NVIDIA Corporation (NVDA) remains our top artificial intelligence play, as the company’s AI chips account for more than 70% of total AI chip sales. Now, the AI chips that NVIDIA has previously designed for China were recently banned by the Biden administration’s new export restrictions. But I anticipate NVIDIA will announce new AI and graphic chips for China that comply with the new restrictions.

This upcoming announcement will not only boost NVIDIA but also the entire chip sector since it would remove much of the uncertainty surrounding new Chinese export rules.

In the meantime, NVIDIA’s earnings announcement on Tuesday, November 21, is expected to attract a lot of Wall Street’s attention next week. For its third quarter in fiscal year 2024, earnings are expected to soar 479.3% year-over-year to $3.36 per share, up from $0.58 per share in the same quarter a year ago. Earnings estimates have been revised 44.8% higher in the past three months, which bodes well for another quarterly earnings surprise.

Analysts also expect third-quarter revenue of $16.12 billion. NVDA is a Moderately Aggressive buy below $573.

SOM Technicals: 

5-22-20: Closed at 361.05. Trade pressures are up.  Volumes are bullish. The next target up is 364.40.

5-30-20: Closed at 353.67. Trade pressures are rising in to the neutral zone. Volumes are bearish. 333 is a support level.

6-6-20: Closed at 356.80. Trade pressure are up. Volumes are bullish. The next target up is 364.

6-12-20: Closed at 357.30. Trade pressures are down. Volumes are neutral. The next target down is 332.00.

6-20-20: Closed at 370.45. Trade pressures are up. volumes are bullish. At the 364 target: consolidating.

6-26-20: Closed at 366.20. Trade pressures are down. Volumes are bearish. A close below 351.00 would signal lower.

7-4-20: Closed at 384.59. Trade pressures are up. Volumes are bullish. The next target up is 406.07.

7-10-20: Closed at 419.17. Trade pressures are up. Volumes are bearish. a close blow 396 would signal lower.

7-18-20: Closed at 408.10. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

7-24-20: Closed at 407.00. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

May 2021: management announces a 4-for-1 stock split.

10-07-23: Closed at 457.62. Trade pressures are up. Volumes are bullish. The next target up is 460.19, then 491.33.

10-14-23: Closed at 454.61. Trade pressure are up but turning down. Volumes are bearish. The next target down is 431.36.

10-27-23: Closed at 405.00. Trade pressures are down. Volumes are bearish. The next target down is 365.76.

11-3-23: Closed at 450.05. Trade pressures are up. Volumes are bullish. The next target up is 490.93.

11-10-23: Closed at 483.25. Trade pressures are up and trending. Volumes are bullish. The next target up is 491.85.

11-17-23: Closed at 492.65. Trade pressures are up but turning down. Volumes are bullish. The next target down is 472.01.

11-26-23: Closed at 477.76. Trade pressures are down. Volumes are bearish. The next target down is 450.30.

12-1-23: Closed at 467.65. Trade pressures are down. Volumes are bearish for 7 days. The next target down is 450.30.

12-9-23: Closed at 475.06. Trade pressures are up. Volumes are bullish. The next target up is 506.69.

12-15-23: Closed at 488.90. Trade pressures are up. Volumes are bullish. The next target up is 505.48.

 

Toll Brothers, Inc.

Toll Brothers, Inc. (TOL) is another one of our plays on the boom in homebuilding, as the company is known for constructing quality, luxury homes in the U.S. Toll Brothers has been in the homebuilding business for more than 55 years, and it builds homes in 24 states. The company also builds retirement communities, apartment communities and city living.

Just this week, Toll Brothers announced the grand opening of an active adult 55+ community in Woodbridge, Connecticut. The community includes six carriage-style townhome designs that potential homebuyers can select, as well as a fitness center and swimming pool. The company also announced the opening of The Oaks at Kelly Park in Apopka, Florida. The community includes bungalows, as well as one- and two-story, single-family homes.

Toll Brothers is expected to release results from the most recent quarter on December 5. The current consensus estimate calls for earnings of $3.71 per share on $2.77 billion in sales. Analysts have upped earnings estimates by 12.8% in the past three months, so a fifth-straight quarterly earnings surprise is likely.  TOL is a Conservative buy below $92.

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.

Navellier Top 5 Stocks for November

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

Eli Lilly & Company

Eli Lilly & Company (LLY) is a well-known drug manufacturer that develops medicines and treatments to meet the needs of patients around the world. The company has been making headlines recently, as its treatment, Mounjaro, has been approved by the FDA to treat Type 2 diabetes – and it’s also expected to receive approval as a weight management treatment.

Interestingly, prior to the latter approval, Eli Lilly has achieved sales of more than $1.5 billion for Mounjaro in the first six months of 2023. And it’s important to note that Mounjaro has only been approved by the FDA as a treatment for Type 2 diabetes for a year. So, as demand continues to ramp up, Mounjaro sales should skyrocket.

Next week, we’ll see firsthand how persistent demand for its treatments continues to add to the company’s top line. Eli Lilly is scheduled to announce third-quarter results before the stock market opens on Thursday, November 2. Third-quarter sales are expected to increase 29% year-over-year to $8.95 billion. LLY is a Conservative buy below $610.

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.

 

EMCOR Group, Inc.

EMCOR Group, Inc. (EME) is a leading provider of electrical and mechanical construction, energy and industrial infrastructure and building services. Though its headquarters are located in Connecticut, EMCOR Group has more than 80 operating companies, and it has more than 180 locations throughout the U.S. And its systems – lighting, HVAC, fire protection, electrical, etc. – are utilized in practically every sector of the U.S. economy.

Strong demand for its services added handsomely to EMCOR Group’s top and bottom lines in the first two quarters of 2023, and the third quarter was no different.

Third-quarter revenue rose 13.5% year-over-year to $3.21 billion, which was a new record for the company and topped expectations for $3.15 billion. Third-quarter earnings jumped 67.1% year-over-year to $3.61 per share, up from $2.16 per share in the same quarter a year ago. Analysts expected earnings of $2.72 per share, so EMCOR Group posted a 32.7% earnings surprise.

Given the record quarterly results, EMCOR Group upped its guidance for fiscal year 2023. Full-year revenue is now expected to be about $12.5 billion and earnings per share are forecast to be between $12.25 and $12.65. That compares to previous estimates for revenue between $12.0 billion and $12.5 billion and earnings per share between $10.75 and $11.25. EME is a Conservative buy below $223.

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.

 

Novo Nordisk A/S

Novo Nordisk A/S (NVO) is our other drug manufacturer that’s benefiting from robust demand for diabetes and weight management treatments. In fact, thanks to increased sales for the company’s leading weight-loss and diabetes drugs, Wegovy and Ozempic, Novo Nordisk upped its full-year 2023 sales outlook in mid-October. It now expects 32% to 38% annual sales growth in 2023, up from previous estimates for 27% to 33% annual sales growth.

In the wake of this increased outlook, the analyst community has also upped its forecast for fiscal year 2023. Full-year sales are now expected to grow 26.8% year-over-year to $31.83 billion, and earnings are forecast to rise 28.3% year-over-year to $2.22 per share.

Analysts have also increased third-quarter earnings estimates over the past month. The current consensus estimate calls for earnings of $0.71, up from forecasts for only $0.48 per share a month ago. Third-quarter sales are anticipated to climb 21.1% year-over-year to $7.91 billion. Novo Nordisk plans to publish results for its third quarter prior to the opening bell on Thursday, November 2. NVO remains a Conservative buy below $100.

SOM Technicals: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

10-07-23: Closed at 92.21. Trade pressures are up. Volumes are bullish. The next target up is 93.92.

10-14-23: Closed at 102.14. Trade pressures are up. Volumes are bearish. The next target down is 100.52.

10-27-23: Closed at 93.50. Trade pressures are down. Volumes are bearish. The next target down is 86.32.

11-3-23: Closed at 98.17. Trade pressures are down into the neutral zone. Volumes are neutral. The next target down is 95.21.

11-10-23: Closed at 100.95. Trade pressures are down. volumes are neutral. The next target down is 97.79.

 

NVIDIA Corporation

NVIDIA Corporation (NVDA) remains one of my favorite artificial intelligence plays, as it has a lock on the AI chip industry. In fact, NVIDIA’s AI chips account for more than 70% of total AI chips sales. The reality is that NVIDIA has been developing AI chips for more than a decade, achieving the ability to perform tasks like facial, image and speech recognition well ahead of the competition.

Now, the company did hit a bit of a snag when the Biden administration announced its plans to limit U.S. exports of AI chips to China. In response to the new restrictions, NVIDIA management stated that it doesn’t anticipate any “near-term meaningful impact” on its business, and it will continue to comply with all applicable regulations.

Right now, NVIDIA still has impressive forecasted earnings growth, thanks primarily to the strong demand for its AI chips. Third-quarter earnings are expected to soar 444.8% year-over-year to $3.16 per share, compared to $0.58 per share in the same quarter a year ago. Analysts have also increased earnings estimates by 53.3% over the past three months. So, a fourth-straight quarterly earnings surprise is likely.

NVIDIA will report results for its third quarter in fiscal year 2024 on November 21. NVDA is a Moderately Aggressive buy below $464.

SOM Technicals: 

5-22-20: Closed at 361.05. Trade pressures are up.  Volumes are bullish. The next target up is 364.40.

5-30-20: Closed at 353.67. Trade pressures are rising in to the neutral zone. Volumes are bearish. 333 is a support level.

6-6-20: Closed at 356.80. Trade pressure are up. Volumes are bullish. The next target up is 364.

6-12-20: Closed at 357.30. Trade pressures are down. Volumes are neutral. The next target down is 332.00.

6-20-20: Closed at 370.45. Trade pressures are up. volumes are bullish. At the 364 target: consolidating.

6-26-20: Closed at 366.20. Trade pressures are down. Volumes are bearish. A close below 351.00 would signal lower.

7-4-20: Closed at 384.59. Trade pressures are up. Volumes are bullish. The next target up is 406.07.

7-10-20: Closed at 419.17. Trade pressures are up. Volumes are bearish. a close blow 396 would signal lower.

7-18-20: Closed at 408.10. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

7-24-20: Closed at 407.00. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

May 2021: management announces a 4-for-1 stock split.

10-07-23: Closed at 457.62. Trade pressures are up. Volumes are bullish. The next target up is 460.19, then 491.33.

10-14-23: Closed at 454.61. Trade pressure are up but turning down. Volumes are bearish. The next target down is 431.36.

10-27-23: Closed at 405.00. Trade pressures are down. Volumes are bearish. The next target down is 365.76.

11-3-23: Closed at 450.05. Trade pressures are up. Volumes are bullish. The next target up is 490.93.

11-10-23: Closed at 483.25. Trade pressures are up and trending. Volumes are bullish. The next target up is 491.85.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) is a global leader in high-performance server technology solutions, and it is also benefiting from the AI trend. But it doesn’t focus on chips like NVIDIA. Rather, it develops computer servers, as well as infrastructure for data centers and the cloud. And it has a strategic partnership with NVIDIA, as NVIDIA uses SMCI’s solutions in its data center chips.

Recently, Super Micro Computer announced that it started to ship a server platform that utilizes NVIDIA’s GH200 Grade Hopper and Grace CPU Superchip. AI servers are anticipated to be a hot item, with the market expected to grow at a nearly 50% compound annual growth rate (CAGR) over the next four years. So, AI servers should continue to be a big business for SMCI going forward.

The company already has solid fundamentals, which will be apparent when it reviews third-quarter earnings and sales after the stock market closes on Wednesday, November 1. Analysts expect earnings of $3.20 per share and revenue of $2.06 billion, which compares to earnings of $3.42 per share and revenue of $1.65 billion in the third quarter of 2022.

Analysts have increased earnings estimates by more than 8% over the past three months, so a quarterly earnings surprise is likely. SMCI is an Aggressive buy below $322.

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.

 

Navellier top 5 stocks for October

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

Eli Lilly & Company

Eli Lilly & Company (LLY) was a new addition to the High-Growth Investments Buy List in September. The company is well-known for developing medicines and treatments to meet the needs of patients around the world. Over the past 147 years, Eli Lilly has developed approximately 100 drugs, and its products are marketed in about 110 countries.

In 2022, Eli Lilly’s treatments were used to help about 51 million people manage serious illnesses, including autoimmune diseases, cancer, diabetes and migraines. Eli Lilly is also developing treatments for blood cancer, ulcerative colitis, atopic dermatitis and Alzheimer’s disease. And Eli Lilly’s Type 2 diabetes treatment, Mounjaro, was one of the company’s biggest success stories of 2022, as it received FDA approval for the treatment of adults with Type 2 diabetes in May 2022.

Thanks to the popularity of Mounjaro and the success of its other treatments like Jardiance, Eli Lilly is expected to continue to achieve strong positive earnings and revenue growth. The company will report third-quarter results on November 2, and the current consensus estimate calls for earnings of $2.86 per share and revenue of $8.79 billion. That translates to 44.4% year-over-year earnings growth and 26.7% year-over-year revenue growth.

The analyst community has increased third-quarter earnings estimates by 23.3% in the past three months. As you know, positive analyst revisions typically precede future earnings surprises. LLY is a Conservative buy below $586.

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.

 

EMCOR Group, Inc.

EMCOR Group, Inc. (EME), like Eli Lilly, was added to the High-Growth Investments Buy List in the September Monthly Issue. If you recall, EMCOR Group is a leading provider of electrical and mechanical construction, energy and industrial infrastructure and building services. The company provides its services and solutions through its three businesses: EMCOR Construction Services, EMCOR Building Services and EMCOR Industrial Services.

Thanks to its diverse service offerings and robust demand in nearly all its businesses, EMCOR Group is expected to achieve solid earnings and revenue growth for the foreseeable future. For the third quarter, analysts expect earnings to increase 28.2% year-over-year to $2.77 per share and for revenue to grow 11.8% year-over-year to $3.16 billion.

I should also add that EMCOR Group has a history of posting positive earnings surprises, as it posted a 28.9% and 25% earnings surprise in the first two quarters of 2023. Given that analysts have upped third-quarter earnings estimates by nearly 12% in the past three months, EMCOR Group is likely gearing up for another quarterly earnings surprise. EME is a Conservative buy below $229.

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.

 

Novo Nordisk A/S

Novo Nordisk A/S (NVO), like Eli Lilly, is a well-known drug manufacturer that has experienced increased demand for its weight-loss and diabetes drug, Wegovy. Wegovy is primarily for adults with obesity or who are overweight with medical problems. And thanks to strong demand for its weight-loss drugs, sales in its diabetes and obesity care business jumped 36% year-over-year in the second quarter.

Interestingly, Bloomberg reported this week that the market for weight-loss drugs like Novo Nordisk’s Wegovy and Ozempic is anticipated to breach $100 billion by 2035. Given that Novo Nordisk’s Wegovy has been proven to reduce the risk of stroke and heart attack, the company is well-positioned to grab its fair share of this market.

So, it’s not too surprising that the company increased its overall sales forecast for fiscal year 2023. Novo Nordisk anticipates that full-year 2023 earnings will grow between 31% and 37%, which is up from previous forecasts for 24% to 30% annual earnings growth. Full-year revenue is expected to increase between 27% and 33%.

Now, due to the recent two-for-one stock split, the analyst community has adjusted earnings estimates for the third quarter accordingly. Third-quarter earnings are expected to grow 6.7% year-over-year to $0.48 per share, and revenue is forecast to rise 19.8% year-over-year to $7.82 billion. NVO is a Conservative buy below $97.

SOM Technicals: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

10-07-23: Closed at 92.21. Trade pressures are up. Volumes are bullish. The next target up is 93.92.

10-14-23: Closed at 102.14. Trade pressures are up. Volumes are bearish. The next target down is 100.52.

 

NVIDIA Corporation

NVIDIA Corporation (NVDA) is a leading computer graphics company, with a portfolio of more than 8,000 active patents. The company’s technologies have been utilized by more than 40,000 companies, including 15,000 startups, since its founding in 1999. Today, NVIDIA is at the forefront of the artificial intelligence (AI) movement, as it dominates the AI chips that are used in everything from data centers to autonomous vehicles.

In my opinion, NVIDIA is the clear leader in AI, and persistent demand for its AI chips continues to add billions to the company’s top line. In the second quarter in fiscal year 2024, data center revenue soared 157.5% year-over-year to $10.3 billion, and total revenue jumped 101% year-over-year to $13.51 billion.

NVIDIA is scheduled to announce results for its third quarter in fiscal year 2024 on November 21. Given the robust demand for the company’s AI chips, it’s lining up to be another blowout report.

Analysts expect third-quarter earnings to soar 475.9% year-over-year to $3.34 per share, up from $0.58 per share in the same quarter a year ago. Analysts have also increased earnings estimates by 61.4% in the past two months, so a fourth-straight quarterly earnings surprise is likely. Third-quarter revenue is anticipated to come in at $16.06 billion. NVDA is a Moderately Aggressive buy below $506.

SOM Technicals: 

5-22-20: Closed at 361.05. Trade pressures are up.  Volumes are bullish. The next target up is 364.40.

5-30-20: Closed at 353.67. Trade pressures are rising in to the neutral zone. Volumes are bearish. 333 is a support level.

6-6-20: Closed at 356.80. Trade pressure are up. Volumes are bullish. The next target up is 364.

6-12-20: Closed at 357.30. Trade pressures are down. Volumes are neutral. The next target down is 332.00.

6-20-20: Closed at 370.45. Trade pressures are up. volumes are bullish. At the 364 target: consolidating.

6-26-20: Closed at 366.20. Trade pressures are down. Volumes are bearish. A close below 351.00 would signal lower.

7-4-20: Closed at 384.59. Trade pressures are up. Volumes are bullish. The next target up is 406.07.

7-10-20: Closed at 419.17. Trade pressures are up. Volumes are bearish. a close blow 396 would signal lower.

7-18-20: Closed at 408.10. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

7-24-20: Closed at 407.00. Trade pressures are down. Volumes are bullish. The next target down is 363.00.

May 2021: management announced a 4-for-1 stock split.

10-07-23: Closed at 457.62. Trade pressures are up. Volumes are bullish. The next target up is 460.19, then 491.33.

10-14-23: Closed at 454.61. Trade pressure are up but turning down. Volumes are bearish. The next target down is 431.36.

 

Super Micro Computer, Inc.

Super Micro Computer, Inc. (SMCI) is a well-known, global leader in high-performance server technology solutions. The company primarily provides a wide range of servers, storage, motherboards, workstations and networking solutions, as well as server management software. And like NVIDIA, Super Micro Computer is well-positioned to profit from the rising demand for AI technologies.

During its conference call to discuss its fiscal year 2023 results, Super Micro Computer management noted that it has experienced strong demand for its AI platforms, especially its technologies that are utilized in data centers. Super Micro Computer even supplies solutions to NVIDIA, which then uses them in its data center chips.

So, even though Super Micro Computer provided softer-than-anticipated guidance, the company is poised to benefit greatly from the AI craze. In fact, the analyst community has increased fiscal year 2024 earnings forecasts by 54.3% in the past three months. Full-year 2024 earnings are now forecast to increase 41.5% year-over-year. The company is also expected to achieve 40.1% annual revenue growth in fiscal year 2024. SMCI is an Aggressive buy below $370.

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.

Navellier Top 5 for September

High-Growth Investments

Novo Nordisk AS

Novo Nordisk AS (NVO) has exhibited tremendous relative strength in August, as the stock is up about 18% in the past four weeks. You may recall from our earlier discussion that Novo Nordisk is a biotech company focused on developing treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases.

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

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

SOM Technicals: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Quanta Services, Inc.

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

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Royal Caribbean Cruises Ltd.

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

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

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

SOM Technicals:

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

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

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

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

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

 

Super Micro Computer, Inc.

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Toll Brothers, Inc.

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

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

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

SOM Technicals:

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

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

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

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

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

 

Navellier Top 5 Stocks for August

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Coca-Cola FEMSA SAB de CV

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Darden Restaurants, Inc.

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

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

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

SOM Technicals:

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

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

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

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

 

First Solar, Inc.

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is the second-largest supplier of frozen potatoes in the world – and its most-popular product is frozen fries. About 80 million portions of fries are sold each day globally. The company also offers sweet potatoes and vegetable products. And the company’s latest results revealed that its potato products remain in top demand.

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Super Micro Computer

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

Navellier TOP 5 for July

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Builders FirstSource, Inc.

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

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

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

SOM Technicals:

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

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

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

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

 

Coca-Cola FEMSA SAB de CV

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is the second-largest supplier of frozen potatoes in the world – and its most-popular product is frozen fries. About 80 million portions of fries are sold each day globally. The company also offers sweet potatoes and vegetable products.

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Quanta Services, Inc.

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Super Micro Computer, Inc.

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

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

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

SOM Technicals:

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

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

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

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

Navellier Top 5 Stocks for June

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

https://navelliergrowth.investorplace.com/

High-Growth Investments

Coca-Cola FEMSA SAB de CV

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

 

Lamb Weston Holdings, Inc.

Lamb Weston Holdings, Inc. (LW) is the second-largest supplier of frozen potatoes in the world – and its most-popular product is frozen fries. About 80 million portions of fries are sold each day globally. And based on recent revisions to earnings estimates, analysts are betting that folks’ insatiable appetite for Lamb Weston’s French fries and other products will persist.

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

First Solar, Inc.

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

 

Novo Nordisk A/S

Novo Nordisk AS (NVO) is a biotech company focused on developing treatments to combat diabetes, obesity and other chronic illnesses, as well as rare blood and rare endocrine diseases. The Denmark-based company’s leading treatment is Ozempic, and its sales rose 45% in 2022. Novo Nordisk anticipates strong Ozempic, as well as Wegovy, sales in 2023.

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

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

SOM Technicals: 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

Quanta Services, Inc.

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

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

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

SOM Technicals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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