The following is provided by Navellier with technical comment from South Ocean Management – pls do your own due diligence.
https://navelliergrowth.investorplace.com/
High-Growth Investments
Lamb Weston Holdings, Inc.
Lamb Weston Holdings, Inc. (LW) was a new addition to the High-Growth Investments Buy List in January. If you recall, the company is a leading supplier of frozen potatoes, sweet potatoes and vegetable products. When it comes to frozen potatoes, Lamb Weston is the top supplier in the United States and the second largest in the world.
In early January, Lamb Weston released results for its second quarter in fiscal year 2023: Sales rose 27% year-over-year to $1.28 billion, and adjusted earnings soared 171% year-over-year to $185.4 million, or $1.28 per share. The consensus estimate called for earnings of $0.74 per share on $1.15 billion in sales.
In the wake of the second-quarter earnings beat, analysts have increased third-quarter earnings estimates by 30.7% in the past month. As you know, positive analyst revisions typically precede future earnings surprises. LW is a Conservative buy below $105.
SOM Technicals:
1/28/23: Closed at 98.31. Trade pressures are up. Volumes are bullish. The next target up is 100.77, the prior high.
2-3-23: Closed at 98.12. Trade pressures are down but rising. Volumes are now neutral. The next target up is 100.77. Support is at 95.40.
2-18-23: Closed at 100.48. Trade pressures are up. Volumes are bullish. The next target up is 108.44.
Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) operates the biggest refining system in the U.S., with 13 refineries capable of refining about 2.9 million barrels per day. It also has a network of pipelines, terminals and barges. The company has experienced strong demand for its products recently, which should be apparent in next week’s earnings report.
Marathon Petroleum will announce fourth-quarter earnings and sales results on Tuesday, January 31, before the stock market opens. Fourth-quarter earnings are forecast to surge 336.2% year-over-year to $5.67 per share, up from $1.30 per share in the same quarter a year ago. Sales are expected to rise 4.2% year-over-year to $37.09 billion. MPC is a Conservative buy below $146.
SOM Technicals:
12-31-22: Closed at 116.39. Trade pressures are up. Volumes are bullish. In the move down. Need to clear 123 to become bullish.
1-7-23: Closed at 116.82. Trade pressures are up. Volumes are bearish. The next target is 109.26.
1-14-23: Closed at 121.93. Trade pressures are up. Volumes are bullish. The next target up is 131.52.
1-20-23: Closed at 125.72. Trade pressures are up. Volumes are bullish. The next target up is 134.52.
1-29-23: Closed at 133.25. Trade pressures are up. Volumes are now bearish. The next target down is 128.25.
2-3-23: Closed at 118.25. Trade pressures are down. Volumes are bearish. The next target down is 115.36.
2-11-23: Closed at 127.07. Trade pressures are up. Volumes are now bullish. The next target up is the 131 resistance.
2-18-23: Closed at 122.50. Trade pressures are down. Volumes are down. The next target down is 115.36
Occidental Petroleum Corporation
Occidental Petroleum Corporation (OXY) provides energy exploration and petrochemical manufacturing services, with energy and chemical assets around the world. The company also has operations in strategic energy-producing regions in the U.S., including the Permian Basin, Rocky Mountains and the Gulf of Mexico.
Occidental Petroleum is scheduled to release fourth-quarter results on February 27. The analyst community expects earnings of $1.85 per share and revenue of $8.7 billion, which translates to 25% year-over-year earnings growth and 8.6% year-over-year revenue growth. Estimates have fluctuated a bit over the past three months, but Occidental Petroleum has a positive earnings surprise history. OXY is a Moderately Aggressive buy below $77.
SOM Technicals:
8-27-22: Closed at 73.56. Trade pressures are up but turning down. Volumes are now neutral. The next target down is 71.86.
9-2-22: Closed at 68.77. Trade pressures are down but rising. Volumes are bearish. The next target down is 67.25.
9-9-22: Closed at 64.61. Trade pressures are down. Volumes are bearish. The next target down is 57.39.
9-16-22: Closed at 64.41. Trade pressures are down into the neutral zone. Volumes are bearish. The next target down is 57.38.
9-23-22: Closed at 58.73. Trade pressures are down. Volumes are now neutral. The next target down is 57.39.
11-19-22: Closed at 71.25. Trade pressures are down. Volumes are bullish. The next target down is 66.26.
11-27-22: Closed at 70.28. Trade pressures are down. Volumes are neutral. The next target down is 66.26.
12-2-22: Closed at 68.21. Trade pressures are down. Volumes are bearish. The next target down is 63.94.
12-11-22: Closed at 62.60. Trade pressures are down. Volumes are bearish. The next target down is 56.41.
12-16-22: Closed at 62.53. Trade pressures are down. Volumes are bearish. The next target down is 56.41.
12-31-22: Closed at 63.04. Trade pressures are down but rising. Volumes are now neutral. The next target up is 65.28, which is a new long entry.
1-7-23: Closed at 63.75. Trade pressures are up. Volumes are bullish. The next target up is 64.37.
1-14-23: Closed at 65.20. Trade pressures are up. Volumes are bullish. The next target is the prior high pivot at 66.59.
1-20-23: Closed at 66.84. Trade pressure are up. Volumes are bullish. The next target up is 69.04.
1-29-23: Closed at 66.78. Trade pressures are up. Volumes are bullish. The next target up is 69.04.
2-3-23: Closed at 61.24. Trade pressures are down. Volumes are bearish. The next target down is 59.65.
2-11-23: Closed at 65.63. Trade pressures are up. Volumes are bullish. The next target up is 69.04.
2-18-23: Closed at 60.73. Trade pressures are down. Volumes are now neutral. The next target down is 55.38. a close above 61.74 would signal higher.
Quanta Services, Inc.
Quanta Services, Inc. (PWR) offers infrastructure solutions for electric power, wireless and fiber optic installation, underground utilities and pipelines. Simply put, Quanta Services provides “the infrastructure that powers your world,” and it has benefited from the shift to 5G.
Quanta Services is expected to post fourth-quarter results in late February. Fourth-quarter earnings are forecast to grow 3.9% year-over-year to $1.60 per share, up from $1.54 per share in the same quarter a year ago. Analysts have also increased earnings estimates over the past three months, which bodes well for another quarterly earnings surprise. Fourth-quarter revenue is expected to rise 9% year-over-year to $4.28 billion. PWR is a Conservative buy below $165.
SOM Technicals:
7-30-22: Closed at 138.73. Trade pressures are up. but showing divergence. Volumes are bearish. The next target down is 133.65.
8-6-22: Closed at 136.91. Trade pressures are down but rising. Volumes are bullish. The next target up is 138.44.
8-12-22: Closed at 143.46. Trade pressures are up. Volumes are bullish. The next target up is 145.03.
8-21-22: Closed at 142.02. Trade pressures are down into the neutral zone. Volumes are now neutral. The next target down is 138.78.
1-29-23: Closed at 150.00. Trade pressures are up. Volumes are bullish. The next target up is 154.23.
2-3-23: Closed at 152.43. Trade pressures are up. Volumes are neutral. The next target up is 154.23.
2-11-23: Closed at 151.34. Trade pressures are down. Volumes are now bearish. The next target down is 148.46.
2-18-23: Closed at 154.90. Trade pressures are up. Volumes are up. The next target up is 158.55. A close below 153.45 would signal lower.
Valero Energy Corporation
Valero Energy Corporation (VLO) is the biggest independent petroleum refiner worldwide and a top producer of renewable fuels in North America. The company currently owns 15 petroleum refineries in the U.S., Canada and U.K., with the capacity to produce about 3.2 million barrels per day.
Valero announced spectacular fourth-quarter results on Thursday. Fourth-quarter adjusted earnings surged 223.9% year-over-year to $3.2 billion, or $8.45 per share, compared to $988 million, or $2.41 per share, in the same quarter a year ago. Analysts expected adjusted earnings of $7.37 per share, so Valero posted a 14.7% earnings surprise.
For full-year 2022, Valero achieved adjusted earnings of $11.6 billion, or $29.16 per share. That was up from $1.2 billion, or $2.81 per share, in 2021, and represented 866.7% annual earnings growth. These results also exceeded expectations for adjusted earnings of $28.01 per share. VLO is a Conservative buy below $160.
SOM Technicals:
11-19-22: Closed at 137.82. Trade pressures are down into the neutral zone. Volumes are bullish. The next target down is 127.30.
11-27-22: Closed at 138.40. Trade pressures are up. Volumes are neutral. The next target down is 135.25, the new short entry.
12-2-22: Closed at 127.07. Trade pressures are down. Volumes are bearish. The next target down is 125.07.
12-11-22: Closed at 114.65. Trade pressures are down. Volumes are bearish. The next target down is 113.53.
12-16-22: Closed at 119.37. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 123.78
12-31-22: Closed at 128.66. Trade pressures are up. Volumes are bullish. The next target down is the 200 day MA at 116.74.
1-7-23: Closed at 127.56. Trade pressures are up. Volumes are bearish. The next target up is 136.69.
1-14-23: Closed at 136.25. Trade pressures are up.. Volumes are bullish. The next target up is 136.69.
1-20-23: Closed at 142.73. Trade pressures are up but declining. Volumes are bullish.. The next target up is 159.05.
1-29-23: Closed at 143.21. Trade pressures are up, but declining. Volumes are now bearish. The next target up is 158.91.
2-3-23: Closed at 131.73. Trade pressures are down. Volumes are bearish. The next target down is 122.71.
2-11-23: Closed at 140.73. Trade pressures are up. Volumes are bullish. The next target up is the resistance at 145.66.
2-18-23: Closed at 129.61. Trade pressures are down. Volumes are now neutral. The next target down is 122.71. A close above 132.61 would signal higher.