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PLAY > New Plays Thursday, May 17, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

PKI - PerkinElmer $70.12 +3.61 (+5.88)

PKI is a global company that provides products and systems to the telecom, pharmaceutical, chemical, semiconductor, medical, aerospace and photographic industries. Although PKI trades on the NYSE, the stock exhibits a trading pattern similar to many of the leading technology stocks over on the NASDAQ. PKI fell from its all-time high of $121.00 to a double-bottom low of $42.55 in early April. Although there is plenty of overhead resistance, PKI is developing some positive technicals. The 50-DMA, closing today at $58.41, appears to be starting to turn back up. PKI broke out of a nice base today by taking out the $68.00 resistance. The Money Flow is also improving nicely and also appears to be breaking out. We also like the fact that the RSI still has upside potential before the stock would be considered overbought. There are a couple of scenarios that may prove to be good entry points. A pullback tomorrow that bounces near $68.00 might be one entry opportunity. Momentum traders might be interested in going long if PKI can trade above $70.50 tomorrow accompanied by first hour trading volume exceeding 150,000 shares. A little patience might be necessary if PKI gaps up to resistance at $72.94 on the open. If this happens, the stock might pull back a little during the day and offer traders a more advantageous entry price than the opening print. PKI will be splitting its shares 2:1 on June 1st.


Picked on May 17th @ $70.12
Change since picked +0.00
Stop Loss @ $67.00
 
Interactive Chart Quote News First Call on PKI
 

New Candidate Plays

None

New Momentum Plays

DCI - Donaldson Company $30.04 +1.03 (+1.63)

DCI is a manufacturer of air cleaners, filters and exhaust products for heavy-duty mobile equipment. Of these businesses, the potential demand for the company's air intake systems for gas turbines may be what is really driving the stock these days due to the energy crisis and the need to build more power plants. This will be a very quick play for us because DCI is scheduled to announce its earnings next Tuesday after the close. Obviously, we are looking for the continuation of a nice earnings anticipation run. Technically, DCI looks very strong. The MACD is rising and the OBV and Money Flow are both making new highs. The RSI is indicating an overbought condition but the stock could easily become more "overbought", as momentum traders drive the stock higher ahead of the earnings release. The stock closed today right on its high. Therefore, any uptick on tomorrow's open may be an enticing entry point for traders. That said, a gap up of more than a point on the open may result in a bit of a pullback in the first half hour of trading. Therefore, a little patience following a sizable gap up may afford traders a better entry price. We see some pretty good support at the 10-DMA of $28.81 and we have set our initial stop just below this moving average.


Picked on May 17th @ $30.04
Change since picked +0.00
Stop Loss @ $28.50
 
Interactive Chart Quote News First Call on DCI
 

New Plays Index

 


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