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PLAY > New Plays Sunday, March 11, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

None

New Candidate Plays

None

New Momentum Plays

UVV - Universal Corporation $38.99 (+0.90)

There is strong evidence that investors and money managers alike still hold large cash positions. After attempting to rally "value" technology stocks, many were burned later in the week as the NASDAQ made a new low. This set of circumstances helps to explain why UVV continues to rally. This tobacco merchant and distributor of lumber and building products is trading at a very low P/E of 10.22. Investors are extremely risk adverse these days and UVV offers a relative value. UVV actually managed to establish a new 52-week high of $39.00 during a day that saw the Dow Jones Industrials (INDU) drop 213.63 points. This fact may encourage the momentum-trading crowd to jump on board. UVV may really start to roll if it can climb above the $39.50 resistance level established way back in June of 1998. A good time to initiate a position might be when UVV looks like it is going to close above this resistance and has crossed 100,000 shares in daily volume. After a lengthy ascent, the MACD has cooled off but remains positive. OBV is currently making new highs and could be forecasting continued new highs for the stock. The RSI is brushing the top end of its range. Therefore, we would be cautious about picking up the stock if it starts slipping in the early going on Monday, especially if UVV slips below the support offered by the 10-DMA of $38.13.


Picked on March 11th @ $38.99
Change since picked +0.00
Stop Loss @ $37.00

 
Interactive Chart Quote News First Call on UVV
 

New Plays Index

 


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