Daily Equity Roster
Published: November 5, 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 Fifth Third Bancorp (FITB).

 

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
LOW Lowe's Companies, Inc. Building $168.22 170s to low 180s 230 150 5 for 5'er, top half of favored BUI sector matrix, quad top breakout, pos wkly mom flip, LT pos mkt RS, 1.4% yield Earnings 11/18
AVGO Broadcom Ltd Semiconductors $364.63 360s - 380s 468 300 4 for 5'er, top 20% of SEMI sector matrix, triple top breakout, 3.5% yield
APH Amphenol Corporation Electronics $115.92 mid 100s to upper 110s 152 93 5 for 5'er, all-time high, LT market & peer RS buy signal, 2 weeks pos weekly mom
AN Autonation Inc. Autos and Parts $58.76 hi 50s - low 60s 100 50 5 for 5'er, top 10% of favored AUTO sector matrix, pullback from ATH, pot cov. write R-R>3.0
SCHN Schnitzer Steel Industries Steel/Iron $19.59 19 - 21 32.50 16.50 3 for 5'er, top half of favored STEE sector matrix, bullish catapult, 3.7% yield, R-R>3.0
RCII Rent-A-Center, Inc. Retailing $31.21 low to mid 30s 65 24 5 for 5'er, 5 consec buy signals, LT peer RS buy, pos weekly & mon momentum, 3.59% yield
TTC The Toro Company Machinery and Tools $84.24 low to high 80s 126 70 4 for 5'er, consec buy signals, LT market and peer RS buy signal, 1.22% yield
FIVE Five Below Inc Household Goods $141.59 hi 130s - hi 140s 149 120 5 for 5'er, top 25% of favored HOUS sector matrix, triple top breakout, potential covered write, Earn. 12/2
FITB Fifth Third Bancorp Banks $23.10 low-to-mid 20s 29 19 5 for 5'er, top 10% of BANK sector matrix, bullish triangle, 4,4% yield, potential cov'd wrtie

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes

Removed Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
CDNS Cadence Design Systems, Inc. Software $120.99 upper $110s to low $120s $159 $90 See follow up comment below.
R Ryder System, Inc. Transports/Non Air $51.27 hi 40s - low 50s 63 40 See follow up comment below.

Follow-Up Comments

Comment
KKR KKR & Co. L.P R ($37.89) - Finance - We will now raise our stop to $32, the second potential sell signal on KKR's default chart.
SNPS Synopsys Inc R ($238.80) - Software - We will now raise our stop to $190, the third potential sell signal on SNPS's default chart.
DECK Deckers Outdoor Corporation R ($280.10) - Textiles/Apparel - We will now raise our stop to $240, the second potential sell signal on DECK's default chart.
AMAT Applied Materials, Inc. R ($69.20) - Semiconductors - We will now raise our stop to $56, the first potential sell signal on the chart.
RPD Rapid7 Inc. R ($69.53) - Software - We will now raise our stop to $57, the second potential sell signal on RPD's default chart.
QCOM QUALCOMM Incorporated R ($146.16) - Semiconductors - We will now raise our stop to $120, the first potential sell signal on QCOM's default chart.
BLDR Builders FirstSource, Inc. R ($35.01) - Building - We will now raise our stop to $29, the first potential sell signal on BLDR's default chart.
ARNC Arconic Corp. R ($25.88) - Metals Non Ferrous - We will now raise our stop to $20, the first potential sell signal on ARNC's default chart.
BJ BJ's Wholesale Club Holdings Inc R ($42.64) - Retailing - We will now raise our stop to $37, the first potential sell signal on BJ's default chart.
CDNS Cadence Design Systems, Inc. R ($124.44) - Software - CDNS has moved above the ideal action range. OK to hold here. Raise stop to $104, the first potential sell signal on CDNS's default chart.
R Ryder System, Inc. ($52.76) - Transports/Non Air - R has moved above the ideal action range. OK to hold here. Raise stop to $42.50, the potential trend line violation on the $0.50 chart.

DWA Spotlight Stock

 

FITB Fifth Third Bancorp R ($24.19) - Banks - FITB is a 5 for 5'er that ranks in the top decile of the banks sector matrix. On its default chart, FITB has given five consecutive buy signals, most recently completing a bullish triangle at $23. The stock also has good income potential as it comes with a 4.4% yield and offers a potential covered write opportunity on the Feb '21 call options. Long exposure may be added in the low-to-mid $20s and we will set our initial stop at $19, the first potential sell signal on FITB's default chart. We will use the bullish price objective, $29, as our target price.

 
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34.00                                                 2   4                                                   34.00
33.00                                                 X O X O                                                 33.00
32.00                                                 1 O X O             •                                   32.00
31.00                                                 X 3   5             C •                                 31.00
30.00                                                 B     O         7   B O •                               30.00
29.00                                                 A     6     3   X O A O   •                             29.00
28.00                                             3   9     9 B   X O 4 O 9 2     •                           28.00
27.00                                             C O 7     A X O X O X 8 X O       •                         27.00
26.00                                             X O X     O X O 1 O X O X O         •                     Top 26.00
25.00                                             X O X     O   C X O   O   O           •                     25.00
24.00                                             X 4           O X       • O             •       X       X   24.00
23.00                 X                           B             O       •   3               •     X O     X   23.00
22.00                 3 O             •           A                   •     O                 •   6 O X   A Mid 22.00
21.00                 C O     6       C •         9                 •       O                   • X O 8 O X   21.00
20.00                 X 5 X   4 O X   B O •       X               •         O                 X   X O X O X   20.00
19.50             X   B 8 X O X O X O X O   • •   8             •           O                 X O X O X 9     19.50
19.00             7 O X A X O 2 8 X O X 1 X   X • X           •             O                 X O X O X       19.00
18.50             X O X O X 1 X O   9   O X O X O X         •               O                 X 5 X O X       18.50
18.00             X 9 X O   O X         O 4 O X O 7       •                 O X           X   X O X 7 X     Bot 18.00
17.50             5 A       O         • O X 5   6 X     •                   O X O     X   X O X O X O         17.50
17.00             4                 •   O X     O X   •                     O X O     X O X O X O X       •   17.00
16.50             X               •     O X     O   •                       O X O     X O X O X O X     •     16.50
16.00         A   X             •       O 3       •                         O X O     X O X O X O X   •       16.00
15.50         9 O 1           •         O X     •                           O X O     X O X O X O X •         15.50
15.00 •       X O X         •           O X   •                             O   O     X O X O X O •           15.00
14.50   • 3   8 O X       •             2 X •                                   O     X 4 X O   •             14.50
14.00     X O 7 B       •               O •                                     O     X O X   •               14.00
13.50     1 O X       •                 •                                       O X   X O   •                 13.50
13.00     X 6 X     •                                                           O X O X   •                   13.00
12.50 X   C O     •                                                             O X O X •                     12.50
12.00 X O X     •                                                               O X O •                       12.00
11.50 A O X   •                                                                 O • •                         11.50
11.00 9 B   •                                                                   •                             11.00
10.50 X   •                                                                                                   10.50
10.00 X •                                                                                                     10.00
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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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