Daily Equity Roster
Published: August 28, 2020
This content is for informational purposes only. This should not be construed as solicitation. The general public should consult their financial advisor for additional information related to investment decisions.
Today's featured stock is Columbia Banking System, Inc.(COLB).

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
EBAY eBay Inc. Internet $56.31 mid-to-upper 50s 100 46 5 for 5'er, top third of favored INET sector matrix, LT pos mkt RS, pullback from ATH
DECK Deckers Outdoor Corporation Textiles/Apparel $210.82 low 200s to mid 230s 284 178 5 for 5'er, pullback from ATH, consec buy signals, pos mon mom, top 10% of DWATEXT
PLD ProLogis Real Estate $101.90 hi 90s - mid 100s 116 87 5 for 5'er, top third of REAL sector matrix, spread triple top, pos monthly mom flip, 2.2% yield
ELY Callaway Golf Company Leisure $20.43 mid/upper 10s 27.50 14.50 4 for 5'er, 6 consec buy signals, pos mon mom, top 1/3 of DWALEIS
V Visa Inc. Finance $211.03 mid 190s - mid 200s 226 170 4 for 5'er, favored FINA sector matrix, spread quad top breakout, pos wkly & mnthly mom flips
SPGI S&P Global Inc. Media $363.98 350s - 360s 407 304 5 for 5'er, top 25% of MEDI sector matrix, LT pos mkt RS, multi consec buys
ROK Rockwell Automation, Inc. Electronics $232.01 220s - 230s 274 200 5 for 5'er, top 33% of ELEC sector matrix, LT pos mkt RS, spread triple top, 1.8% yield
MTH Meritage Homes Corporation Building $98.45 99 - 108 112 88 5 for 5'er, #4 of 75 names in favored BUIL sector matrix, bullish catapult
ON On Semiconductor Corp. Semiconductors $21.33 low 20s 36.50 18 4 for 5'er, consec buy signals, top 25% of fav DWASEMI, pos mon mom
COLB Columbia Banking System, Inc. Banks $28.36 28 - 30 46 23 4 for 5'er, top half of BANK sector matrix, spread triple top, pos monthly mom flip, 3.95% yield

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
THS TreeHouse Foods, Inc. Food Beverages/Soap $43.71 low to mid 40s 36 53 0 for 5'er, consec sell signals, LT market RS sell signal, bottom quartile of DWAFOOD

Removed Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
DXCM Dexcom Inc. Healthcare $427.75 410s to 470s 488 360 OK to add or maintain exposure here. Maintain $360 stop.

Follow-Up Comments

Comment
COST Costco Wholesale Corporation R ($347.32) - Retailing - We will now raise our stop to $292 a potential spread triple bottom break on COST's default chart.

DWA Spotlight Stock

COLB Columbia Banking System, Inc. R ($28.11) - Banks - COLD is a 4 for 5'er that ranks in the top half of the banks sector matrix. In last week's trading, the stock gave a third consecutive buy signal when it broke a spread triple top at $32, taking out resistance dating back to June and recent flip to positive monthly momentum is a positive sign of the stock's potential for additional upside. COLB also comes with a 3.95% yield. Long exposure may be added in the $28 - $30 range and we will set our initial stop at $23, the third potential sell signal on COLB's default chart. We will use the bullish price objective of $46 as our target price, giving us a reward-to-risk ratio in excess of 3.0.

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DISCLOSURE

This report is for Internal Use Only and not for distribution to the public. While we make every effort to be free of errors in this report, it contains data obtained from other sources. We believe these sources to be reliable, but we cannot guarantee their accuracy. Investors who use options should read the Options Disclosure Document before making any particular investment decision. Officers or employees of this firm may now or in the future have a position in the stocks mentioned in this report. Dorsey, Wright is a Registered Investment Advisor with the U.S. Securities & Exchange Commission. Copies of Form ADV Part II are available upon request.
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