Daily Equity Roster
Published: December 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 The Blackstone Group Inc (BX).

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
LASR nLIGHT, Inc. Semiconductors $34.31 low-to-mid 30s 55 27 5 for 5'er, top 10% of SEMI sector matrix, consec buy signals, pullback from multi-year high
JCI Johnson Controls International PLC Protection Safety Equipment $45.93 mid 30s 58 39 4 for 5'er, top half of PROT sector matrix, multiple buy signals 2.3% yield, R-R>2.0
DE Deere & Company Machinery and Tools $269.21 250s to low 270s 348 208 5 for 5'er, ATH, pos trend, top 25% of DWAMACH, triple top breakout
PWR Quanta Services, Inc. Electronics $70.93 hi 60s - low 70s 86 58 5 for 5'er, top 20% of favored ELEC sector matrix, triple top breakout, pullback from ATH
PLAN Anaplan, Inc. Internet $72.72 upper 60s to mid 70s 84 58 4 for 5'er, pullback from ATH, consec buy signals, top 25% DWAINET, pos weekly and mon mom
TGT Target Corporation Retailing $175.19 160s - 170s 186 140 4 for 5'er, favored RETA sector, multiple buy signals, pullback from ATH, 1.6% yield
ITW Illinois Tool Works Inc. Machinery and Tools $202.44 high 190s to high 220s 266 160 4 for 5'er, fav DWAMACH, LT market RS buy, consec buy signals, pullback from ATH
HOG Harley-Davidson, Inc. Leisure $37.11 hi 30s - low 40s 66 32 4 for 5'er, top 50% of favored LEIS sector matrix, pullback from 52-week high, R-R>4.0, pot. cov. write
TXRH Texas Roadhouse, Inc. Restaurants $79.96 high 70s to high 80s 115 67 4 for 5'er, pullback from ATH, consec buy signals, LT market RS buy signal
BX The Blackstone Group Inc Finance $64.99 low-to-mid 60s 69 54 4 for 5''er, favored WALL sector, LT pos mkt RS, multiple buy signals, pos monthly mom flip, 2.9% yield

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes

Removed Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
APAM Artisan Partners Asset Management, Inc Finance $49.89 mid-to-upper 40s 53.50 39 See follow up comment below.

Follow-Up Comments

Comment
FND Floor & Decor Holdings Inc R ($96.45) - Retailing - We will now raise our stop to $87.50, the next potential sell signal on FND's $0.50 chart.
SAIL SailPoint Technologies Holdings, Inc. R ($54.63) - Software - We will now raise our stop to $44, the first potential sell signal on SAIL's default chart.
APAM Artisan Partners Asset Management, Inc R ($49.60) - Finance - OK to add or maintain exposure here. Raise stop to $43, the first potential sell signal on APAM's default chart.

DWA Spotlight Stock

BX The Blackstone Group R Inc ($64.78) - Finance - BX is a 4 for 5'er that belongs to the favored Wall Street sector and has on a market RS buy signal since 2013. BX has given multiple consecutive buy signals and reached a new all-time high on its default chart last month. A recent flip to positive monthly momentum is a positive sign for stock's potential for additional upside. BX also comes with a 2.9% yield. Long exposure may be added in the low-to-mid $60s and we will set our initial stop at $54, the first potential buy signal on BX's default chart. We will use the $69 bullish price objective as our near-term target price.

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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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