Commentary
Sector Watch


Play of the Day
Current Plays
Watch List
New Plays
Play Updates
Drops


Announcements
Current Split Catalog
New Candidates
Candidates Index
Expected Splits
Splits 101


Play Results
Split Predictions


Ask the Trader
Trading 101
Bookstore
Glossary
Dow Charts
FAQ


Splits
SEC Filings
Coming Economic Events
BoD Meetings
Earnings


Chat Room
Message Boards


Email Newsletter
Author Search
Advertise With Us
Change Password
Contact Us

PLAY >New Updates Sunday, April 08, 2001
New Split Updates   New Candidate Updates   New Momentum Updates
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Updates

None

New Candidate Updates

EQT - Equitable Resources, Inc. $72.45 (+3.45)

Equitable Resources fell on profit taking on Friday following three straight all-time highs earlier in the week. Shares of EQT dipped to an intra-day low of $71.80 before bouncing back to a close of $72.45 on volume of 276,000 shares. Despite the pullback, EQT remains in a firm upward trend as we approach its earnings release on April 20th before the bell. We are also looking for a split announcement with the earnings report or out of its annual meeting on May 17th. The stock is currently trading within historic split range and the company has enough shares for a split with 80 million shares authorized and 37.3 million shares issued. In the meantime, support is Friday's intra-day low of $71.80 with additional support at 70.59, Wednesday's intra-day low. Resistance is holding steady at Thursday's intra-day high of $74 and then possibly $76 or $77. Traders may consider starting new plays on a bounce off of $71.80 or a breakout above $74 on volume of at least 150,000 shares by noon. We are keeping our stops at $70.00 to protect gains.


Picked on March 27th @ $67.20
Change since picked +5.25
Stop Loss @ $70.00
 
Interactive Chart Quote News First Call on EQT
 


MKC - McCormick & Company $42.15 (+0.16)

McCormick & Company traded to an all-time high of $42.60 on Friday. Unfortunately, the stock could not stay in positive territory as the rest of the market sold off. Shares of MKC ended the session at $42.15 on volume of 135,000 shares. The stock is losing steam on declining volume so MKC may break the short-term (2-week) upward trend and fall back to the long-term (1-year) upward trend. The stock is currently trading within its historic split range and the company has enough shares for a split with 160 million shares authorized and 61 million shares issued. MKC is expected to announce earnings in June so we may get a split announcement with the release. Until then, support has fallen to Friday's intra-day low of $41.90 with stronger support at $41.45, Monday's intra-day low. Resistance has come in at Friday's intra-day high of $42.60 and then $43. A bounce off of $41.90 or a breakout above $42.60 on midday volume greater than 90,000 shares may be possible entry points. Our stops remain at $38.75.


Picked on March 29th @ $41.43
Change since picked +0.72
Stop Loss @ $38.75
 
Interactive Chart Quote News First Call on MKC
 


PFGC - Performance Food Group $53.50 (+1.00)

It was a terrible week for NASDAQ (COMPX) stocks in general. However, PFGC, which is a major food producer that distributes its products to a variety of institutions, displayed some solid relative strength. PFGC will likely be one of a dwindling number of companies that will be able to show earnings growth when it reports its quarterly results on May 1st. EstiKMBes are calling for profits of $0.33, which would be an increase of six pennies over the same quarter a year ago. PFGC may be on the verge of a major breakout. Momentum traders will probably be tempted to bid up shares once PFGC crosses over the $54.50 resistance. PFGC does have a habit of staging very quick one-day rallies. If PFGC does gap up 3 points or more on Monday's open, traders will probably get a better entry opportunity following a pullback in the first hour or so of trading. The MACD is signaling that more gains are on the horizon. The OBV is making a nice move and is foretelling more bullish moves to come. In the event of a pullback, look for PFGC to find support at its 10-DMA of $52.28. The 52-week high of $56.75 is the next resistance level following $54.50.


Picked on March 25th @ $49.50
Change since picked +4.00
Stop Loss @ $51.25
 
Interactive Chart Quote News First Call on PFGC
 


SRCL - Stericycle, Inc. $45.00 (+0.38)

Stericycle, Inc. continues to consolidate in the $41.50-$46.50 range on average volume. On Friday, shares of SRCL hit an intra-day high of $46.38 before pulling back to a close of $45 on volume of 198,000 shares. The stock has failed to break out of its ascending triangle three times in the last week and daily volume has been trending lower. SRCL may be trapped in the $41.50-$46.50 range until the volume picks up. The earnings report expected on May 1st after the bell may provide a catalyst. In addition, as the stock bases, its OBV has gone to the moon, which indicates that volume is growing on the buy side. The company has enough shares for a 3:2 split with 30 million shares authorized and 15.3 million shares outstanding so we may also get a split announcement with the earnings release. For now, support is Friday's intra-day low of $44.63 with additional support at $44.13, the 10-dma. Resistance is Thursday's intra-day high of $46.50 and then the all-time high of $47. Look for a bounce off of $44.63 or a move above $46.50 on midday volume of at least 125,000 shares before opening new positions. We are keeping our stops at $41.50 as downside protection.


Picked on April 5th @ $46.00
Change since picked -1.00
Stop Loss @ $41.50
 
Interactive Chart Quote News First Call on SRCL
 


UHS - Universal Health Services $90.52 (+2.22)

UHS is somewhat inoculated from the current economic malaise because it is an owner and operator of hospitals. Medical care is one of the last things people forego when they are feeling the pinch. This fact has helped UHS to maintain its earnings growth. For the quarter that just ended, UHS is expected to post profits of $1.12, which would be a nice increase of 22% over the same quarter a year ago. UHS is also a solid split candidate. The company's last split was paid out in May of 1996. At that time, the stock was trading at $56.38. Now that the stock is trading above $90.00, management must be tempted to announce a split soon. Stocks, especially those that trade on the NYSE, have a peculiar habit of making a beeline to $100.00 once they cross $90.00. We believe that UHS has a good chance of enjoying this phenomenon. We have raised our stop to $89.00, which is just below the support offered by Thursday's low print, in an attempt to lock in our profits. Investors may want to enter new positions if UHS can stay above $89.00. If UHS gaps up three or more points on Monday's open, one might want to wait for a pullback before going long.


Picked on March 15th @ $83.50
Change since picked +7.02
Stop Loss @ $89.00
 
Interactive Chart Quote News First Call on UHS
 

New Momentum Updates

ACI - Arch Coal Incorporated $30.36 (+0.11)

With the price of coal more than doubling in recent months, traders have turned up the heat within the coal industry. The real standout in the sector has been ACI, which has added nearly 70% over the last three months. Sound like a momentum play? A look at the daily chart will certainly convince you. What we specifically like about the chart is how traders have been consistently buying on the pullbacks. This note is of importance to us now that ACI seems to be in the process of consolidating. Turning to Friday's action, shares gave up 1.14 points or 3.62% to finish the week at $30.36. Sector related weakness might have been a contributing factor to Friday's fall, as the Standard & Poor's Energy Index (AXE) slipped 2.02% to close at 1584. Volume on the day came in just under the 3-month ADV, as 436,000 shares crossed the tape. Should shares resume an uptrend into next week, we'll look for resistance to emerge at the high of $32, followed by a harder challenge at the $35 mark. Support will come at $30, bolstered by the 5-dma of $29.78. Look for entry points when shares bounce off support or break above the $32 level on midday volume of at least 280,000 shares.


Picked on April 5th@ $31.50
Change since picked -1.14
Stop Loss @ $28.25
 
Interactive Chart Quote News First Call on ACI
 


KMB - Kimberly-Clark $66.50 (-1.33)

KMB actually held its ground pretty well last week, especially after a bleak jobs report on Friday sent stocks plummeting again. By offering a slew of everyday household and industrial products, KMB has been able to maintain its earnings and has been very attractive to investors looking to own more fundamentally sound stocks. In fact, at its latest analyst meeting, KMB announced that it would be rolling out premoistened toilet paper to keep ahead of the very competitive consumer products industry. Whatever it takes, right? KMB is currently consolidating just below its 50-DMA of $68.13. This consolidation phase follows KMB's March test of the 52-week high of $73.25. A move back above $68.13, accompanied by midday volume of over 1.1 million, shares may prove to be an excellent entry point. It looks like KMB found some nice support at $64.56 on Friday. Be cautious if KMB falls below this support on Monday. Although the MACD is still negative, it will likely issue a buy signal if we see KMB advance two or more points on Monday. The Money Flow is still outstanding. This is largely due to the fact that down days in the stock price are accompanied by anemic volume, whereas up days have seen very good volume. This is a good sign that when KMB finally does get moving, it could really stage a powerful rally.


Picked on April 1st @ $67.83
Change since picked -1.33
Stop Loss $62.50

 
Interactive Chart Quote News First Call on KMB
 


UNP - Union Pacific Corporation $55.95 (-0.30)

Union Pacific Corporation closed below the 10-dma on Friday. Shares of UNP traded to an intra-day low of $55.72 as the market sold off. The stock ended the session at $55.95 on heavy volume of 2.04 million shares. UNP has made four consecutive lower highs on above-average volume and it closed below the 10-dma for the first time since March 23rd. The stock has been trading in the $55-$58 range for the past two weeks so UNP may need to form a handle and test the $55 mark before it moves higher. Going forward, UNP has support at Friday's intra-day low of $55.72 with stronger support at $55.12, the March 28th intra-day low. Resistance is the 5-dma at $56.66 and then Wednesday's intra-day high of $57.15. Consider entry points on a bounce off of $55.72 or a move above $57.25 on volume greater than 600,000 shares by noon. We are leaving our stops at $54.50 to limit potential losses.


Picked on April 3rd @ $57.35
Change since picked -1.40
Stop Loss @ $54.50

 
Interactive Chart Quote News First Call on UNP
 

Play Updates Index

 


Copyright 2001 SplitTrader.com

Do not duplicate or redistribute in any form.
Privacy Statement   Disclaimer   Terms Of Service