Daily Equity Roster
Published: December 1, 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 Beacon Roofing Supply, Inc. (BECN)

 

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
ACN Accenture PLC Business Products $249.09 230s - 240s 216 208 5 for 5'er, top 1/2 of BUSI sector matrix, LT pos RS, spread triple top, 1.5% yield Earnings 12/17
SAIL SailPoint Technologies Holdings, Inc. Software $46.56 mid 40s $66 $35 4 for 5'er, pullback from ATH, consec buy signals, pos trend
LPX Louisiana-Pacific Corporation Forest Prods/Paper $34.23 low 30s 45.50 27 4 for 5'er, top third of FORE sector matrix, bullish triangle, pos wkly mom flip, 1.8% yield
TGTX TG Therapeutics, Inc. Biomedics/Genetics $29.34 upper 20s to mid 30s 45.50 25 5 for 5'er, bullish triangle pattern, consec buy signals, testing multi-year high, pos trend
MXL MaxLinear, Inc. Semiconductors $31.25 28 - 31 41 24 4 for 5'er, top third of SEMI sector matrix, spread six top breakout, R-R>2.0
AOS A.O. Smith Corporation Building $56.31 mid to upper 50s 72 47 4 for 5'er, four consec buy signals, mutli-year high, market RS buy signal since 9/2008, 1.86% yield
GOOS Canada Goose Holdings Inc. Textiles/Apparel $33.24 mid-to-upper 30s 39.50 30 4 for 5'er, top 25% of favored TEXT sector matrix, triple top breakout, pot. cov. write
ALLY Ally Financial Inc. Finance $29.65 $29 - $32 33 25 5 for 5'er, top 10% of FINA sector matrix, mutliple consec buy signals, 2.45% yield, pot. cov. write
SPWR Sunpower Corporation Electronics $22.16 low 20s 33.50 18 5 for 5'er, #3 of 59 names in ELEC sector matrix, pos wkly mom flip, pot cov. write
BECN Beacon Roofing Supply, Inc. Building $36.39 36 - 40 56 30 4 for 5'er, top third of fav DWABUIL, consec buy signals, 52 week highs, pos weekly mom flip

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes

Removed Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
BLMN Bloomin' Brands Inc Restaurants $17.50 15 - 17 21 14 See follow comment below.

Follow-Up Comments

Comment
BLMN Bloomin' Brands Inc R ($17.96) - Restaurants - Okay to add new exposure here. We will raise our stop to $14, which would take out multiple levels of support on BLMN's 0.25pt chart.
TSM Taiwan Semiconductor Manufacturing Co. R (Taiwan) ADR ($102.48) - Semiconductors - Raise stop to $83, which would violate multiple levels of support on the default chart.
ROKU Roku, Inc. Class A R ($287.84) - Media - Raise stop to $220, the first sell signal on the chart.
Z Zillow Group Inc. Class C R ($107.96) - Real Estate - Raise stop to $88, the bullish support line.
TSLA Tesla Inc. R ($582.69) - Autos and Parts - Raise stop to $488, the first sell signal on TSLA's 4 pt chart.

DWA Spotlight Stock

 

BECN Beacon Roofing Supply, Inc. R ($36.48) - Building - BECN is a healthy 4 for 5'er that ranks within the top third of the building sector, making this one of the stronger names in this favored space. BECN has given two consecutive buy signals and is trading at 52-week highs just one box off of a third consecutive buy signal at $39. Furthermore, BECN just experienced a flip to positive weekly momentum, suggesting the potential for higher prices. Okay to add exposure between 36 - 40. We will set our initial stop at $30 and we will use BECN's bullish price objective of $56 as our near-term price target.

                  19                       20                                                                
42.00 X •                                                                                                   Top 42.00
41.00 X O •                   •                                                                               41.00
40.00 9 O   •                 5 •                                                                             40.00
39.00 X O     •               X O •                                                                           39.00
38.00 X O       •     2   X   X O   •                                                                 X   X   38.00
37.00 • O         •   X O X O X O 7   •           •                                               X   X O X   37.00
36.00   A           • X O X O X O X O   • •   X   X •                                             X O X O X   36.00
35.00   O X       X   X O X 3 4 O X O X   X • X O X O •                                       X   X O X O     35.00
34.00   O X O     X O X O   O X 6 X 8 X O B O X O X O   •                                     X O X O B     Mid 34.00
33.00   O X O     X O X     O X O • O 9 O X O 1 O X O     •                               X   X O X O X       33.00
32.00   O   O     X C 1     O • •   O X A X O X 2 X O X     •                             8 O X 9 A O X       32.00
31.00       O     X O X     •       O X O X O X O • O 3 O     •                           X O X O X O         31.00
30.00       O X   X O X   •         O X O   O X •   O X O       •                 X       X O   O X           30.00
29.00       O B O X O   •           O X     C •     O X O         •               X O X   X     O X           29.00
28.00       O X O X   •             O X     •       O   O           •             X O X O 7     O             28.00
27.00       O X O X •               O                   O             •           6 O X O X                 Bot 27.00
26.00       O X O •                                     O               •         X O X O X                   26.00
25.00       O • •                                       O                 •       X O   O                     25.00
24.00       •                                           O                   • •   X                       •   24.00
23.00                                                   O                     X • X                     •     23.00
22.00                                                   O                     X O X                   •       22.00
21.00                                                   O         X           X O X                 •         21.00
20.00                                                   O         X O         X 5 X               •           20.00
19.50                                                   O         X O         X O X             •             19.50
19.00                                                   O X       X O X   X   X O X           •               19.00
18.50                                                   O X O     X O X O X O X O X         •                 18.50
18.00                                                   O X O     X O X O X O X O X       •                   18.00
17.50                                                   O X O     X O X O X O X O       •                     17.50
17.00                                                   O   O     X O X O X O X       •                       17.00
16.50                                                       O X   X O X O X O       •                         16.50
16.00                                                       O X O X O X O         •                           16.00
15.50                                                       O X O X O X         •                             15.50
15.00                                                       O X O X 4 X       •                               15.00
14.50                                                       O   O X O X     •                                 14.50
14.00                                                           O X O X   •                                   14.00
13.50                                                           O X O X •                                     13.50
13.00                                                           O X O •                                       13.00
12.50                                                           O X •                                         12.50
12.00                                                           O •                                           12.00
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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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