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PLAY >New Updates Tuesday, April 24, 2001
New Split Updates   New Candidate Updates   New Momentum Updates
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Updates

SOTR - SouthTrust Corporation $45.96 0.00 (+0.15)

SouthTrust Corporation has been consolidating in the $44-$47 range after hitting an all-time high last Thursday. On Tuesday, shares of SOTR traded to an intra-day high of $46.76 but the stock reversed directions along with the rest of the market. The stock ended the day at $45.96 on volume of 755,000 shares. SOTR has lost its short-term upward momentum and volume is trending lower. On the positive side, the long-term trend remains in tact as we approach the 2:1 stock split, payable on May 11th. SOTR may need a volume surge to push the stock to new highs. Going forward, support is the 10-dma at $45.55 with additional support at $44.93, the 20-dma. Resistance has fallen to Tuesday's intra-day high of $46.76 and then the all-time high of $47.20. Look for a bounce off of $45.55 or a move above $46.76 on midday volume of at least 500,000 shares before opening new positions. We are keeping our stops at $44 to limit potential losses.


Picked on April 19th @ $46.96
Change since picked -1.00
Stop Loss @ $44.00
 
Interactive Chart Quote News First Call on SOTR
 

New Candidate Updates

HRB - H & R Block Inc. $53.45 -0.03 (-0.26)

H & R Block appears to be resting after last week's strong run. For the second-consecutive session, HRB went nowhere fast, though there was decent action in the stock, as 930,000 shares changed hands, 300,000 more than the three-month daily average. Despite today's ennui, we think that HRB will revive itself because the stock still looks attractive technically. HRB continues to be supported by its up-trending 10-dma, which is currently at $52.41. What's more, the MACD remains positive while the On-Balance Volume continues to hold its long-term uptrend. As it now stands, HRB has strong support at its 40-dma at $50.40 and no immediate resistance until the July 1999 high of $59.50. In other words, we like this risk/reward scenario. Traders considering a position in HRB should look for strong volume, 250,000 shares or more traded by noon EST, on a move through Tuesday's intra-day high of $53.90 or a bounce off the 10-dma before placing their trades.


Picked on April 18th @ $52.85
Change since picked +0.60
Stop Loss @ $49.25
 
Interactive Chart Quote News First Call on HRB
 


MKC - McCormick & Company $40.38 -0.25 (-0.82)

McCormick & Company showed some early signs of relief on Tuesday. Shares of MKC traded to an intra-day low of $40 before bouncing back to a close of $40.38 on volume of 227,000 shares, 77,000 increase to the 10-day average daily volume of 150,000. MKC has now made five consecutive lower highs and it is now in a firm downward trend. What's more, the stock closed below the 50-dma for the first time since January 24th. The 50-dma has been a major source of support for MKC and the stock has not closed below the 50-dma for two straight sessions in the past six months. Still, MKC is holding the $40 mark, so it may be able to rally from here. From a technical standpoint, MKC has support at Tuesday's intra-day low of $40 with additional support at $39.53, the March 26th intra-day low. Resistance has fallen to Tuesday's intra-day high of $40.89 and then $41.42, the 10-dma. Traders may consider entry points on a bounce off of $40.00 or a move above $41.42 on volume greater than 75,000 shares by noon. Our stops remain at $38.75.


Picked on March 29th @ $41.43
Change since picked -1.05
Stop Loss @ $38.75
 
Interactive Chart Quote News First Call on MKC
 

New Momentum Updates

GTK - GTECH Holdings Corp $31.10 +0.49 (+1.31)

GTECH keeps hitting winning numbers by establishing new highs yesterday and today. Granted, the advance has not been huge but considering the weakness in the overall market so far this week, we are impressed with the stock's relative strength. GTK is attractive to investors who seek growth at a reasonable price. Analysts expect GTK to grow its earnings by 32% this year, and the stock is trading at a comparatively low P/E of 24.88. Momentum traders may be interested in picking up this stock if it can trade above today's high of $31.50 tomorrow. However, a gap up opening to $33.00 or higher might result in a pullback later that would offer a potentially more favorable purchase price. A bullish trade may be even more enticing if a new high is accompanied by first hour trading volume exceeding 50,000 shares. Speaking of volume, today's volume of 640,000 was more than twice the three-month daily average of 268,000. This is a very good sign that there is increasing interest in GTK among bulls. One caveat: Traders should probably be cautious if GTK starts pulling back because the RSI is now indicating an overbought condition.


Picked on April 22nd @ $29.79
Change since picked +1.31
Stop Loss $26.75
 
Interactive Chart Quote News First Call on GTK
 


HSIC - Henry Schein, Inc. $38.78 +0.42 (+0.78)

Henry Schein is gaining momentum on positive news from the healthcare providers. On Tuesday, shares of HSIC hit a new 52-week high of $39.27 before pulling back to a close of $38.78 on volume of 516,000 shares. HSIC has made three consecutive higher highs coupled with higher lows, so the stock may be able to hold its upward trend into the earnings release expected on May 1st (unconfirmed). For now, the stock has support at Tuesday's intra-day low of $38.37 with stronger support at $37.83, the 5-dma. Resistance has moved up to the 1/22/99 intra-day low of $40 and then $41.25, the 2/4/99 intra-day low. A bounce off of $38.37 or a move above $40 on midday volume greater than 250,000 shares may be possible entry points. We are leaving our stops at $35 as downside protection.


Picked on April 22nd @ $38.00
Change since picked +0.78
Stop Loss @ $35.00
 
Interactive Chart Quote News First Call on HSIC
 

Play Updates Index

 


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