Daily Equity Roster
Published: March 29, 2023
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 Cadence Design Systems, Inc. (CDNS).

 

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
GPK Graphic Packaging Intl. Forest Prods/Paper $25.15 21 - 23 26 18 5 for 5'er, #2 of 15 in favored FORE sector matrix, LT pos mkt RS, triple top, 1.3% yield
PGR The Progressive Corporation Insurance $142.85 low 120s - low 130s 168 106 4 for 5'er, top quartile of favored INSU sector matrix, one box from mkt RS buy, spread triple top
COHU Cohu, Inc. Semiconductors $35.98 mid 30s 51 29 4 for 5'er. top 10% of SEMI sector matrix, big base breakout, R-R>2.5
TSCO Tractor Supply Company Retailing $229.51 mid 210s - high 230s 298 186 5 TA rating, LT market RS buy, recent peer RS buy, top half RETA sector matrix
MSI Motorola Solutions Inc. Telephone $272.88 hi 240s - lo 270s 316 212 5 TA rating, top decile of TELE sector matrix, consec. buy signals, LT mkt RS buy,
V Visa Inc. Finance $220.33 210s - 220s 262 188 5 for 5'er top third of FIN sector matrix, LT pos mkt RS, spread quintuple top
AVGO Broadcom Ltd Semiconductors $624.70 mid 560s - lo 620s 696 496 5 TA rating, top half SEMI sector matrix, fifth consec. buy signal, bullish triangle, LT mkt RS buy
ITW Illinois Tool Works Inc. Machinery and Tools $234.11 220s - 240s - 194 3 for 5'er, favored MACH sector, LT pos mkt RS, multiple consec buy signals, pullback from ATH, 2.2% yield
MRK Merck & Co., Inc. Drugs $105.53 mid 100s - low 110s 137 89 4 for 5'er top third of DRUG sector matrix, multiple consec buys, pullback from ATH, 2.7% yield, Earn. 4/27
YUMC Yum China Holdings Inc Restaurants $62.16 hi 50s - mid 60s 86 50 4 TA rating, top quintile of favored Restaurants sector RS matrix, consec. buy signals, R-R > 2.5
BJRI BJ's Restaurants Inc. Restaurants $29.24 low 30s 55 26 4 for 5'er, top third of favored REST sector matrix, triple top, pullback from 52-week high, R-R>3.5, Earn. 4/19
ADI Analog Devices, Inc. Semiconductors $183.60 lo 180s - lo 190s 266 158 4 TA rating, top third SEMI sector RS matrix, LT RS buy, R-R near 3
FISV Fiserv, Inc. Computers $111.28 mid 100s - mid 110s 123 91 5 for 5'er, top 25% of COMP sector matrix, LT pos mkt RS, pullback from 52-week high, Earn. 4/25
TXRH Texas Roadhouse, Inc. Restaurants $106.23 100s 125 90 5 TA rating, top half REST sector matrix, consec. buy signals, LT RS buy, 2.10% yield.
LW Lamb Weston Holdings Inc Food Beverages/Soap $101.68 mid-90s - low 100s 113 86 5 for 5'er, 4 of 75 in FOOD sector matrix, quad top breakout, pullback from ATH, 1.1% yield, Earn. 4/6
ASO Academy Sports and Outdoors, Inc. Retailing $63.88 lo-upper 60s 86 52 5 TA rating, top decile RETA sector matrix, buy-on-pullback
GOLF Acushnet Holdings Corp Leisure $49.18 hi 40s - low 50s 73 42 5 for 5'er, top third of LEIS sector matrix, quintuple top breakout, pullback from MY high, R-R~3.0, 1.56% yield
CPRT Copart Incorporated Autos and Parts $73.11 hi 60s - mid 70s 94 59 5 TA rating, top half AUTO sector matrix, consec. buy signals, LT RS buy
AAPL Apple Inc. Computers $157.65 mid 150s - low 160s 192 138 5 for 5'er, top half of COMP sector matrix, LT pos mkt RS, peer & mkt RS column reversals, spread quintuple top
AMD Advanced Micro Devices, Inc. Semiconductors $94.56 mid to hi 90s 108 81 4 for 5'er, 7 of 57 in favored SEMI sector matrix, RS buy signal
FND Floor & Decor Holdings Inc Retailing $93.41 hi 80s - hi 90s 115 78 5 TA rating, top quintile of RETA sector matrix, LT RS buy, recent peer RS buy
CDNS Cadence Design Systems, Inc. Software $203.28 hi 190s - mid 200s 222 180 5 for 5'er, top 20% of COMP sector matrix. LT pos peer & mkt RS, spread triple top

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
LAUR Laureate Education Inc Business Products $11.63 (11.50-12.50) 6 13.50 0 for 5'er, LT negative trend & market RS, spread triple bottom, OBOS>100%, R-R>3.0

Follow-Up Comments

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DWA Spotlight Stock

 

CDNS Cadence Design Systems, Inc. R ($205.14) - Software - CDNS is a 5 for 5'er that ranks in the top quintile of the software sector matrix and has been on a market RS buy signal since 2009 and a peer RS buy signal since 2012. On its default chart, the stock has given two consecutive buy signals most recently breaking a spread triple top at $204. Long exposure may be added in the upper $190s to mid $200s and we will set our initial stop at $180, the potential trend line violation on CDNS's default chart. We will use the bullish price objective, $222, as our target price.

 
                                                                            23                              
208.00                                                                                                     X   208.00
204.00                                                                                                     X   204.00
200.00                                                                                         X       X   X   200.00
198.00                                                                                         X O X   X O X   198.00
196.00                                     •                                                   X O X O X O X   196.00
194.00                                     X •                                                 X O X O X O     194.00
192.00                                     X O •                                               X O   3 X     Mid 192.00
190.00                                     X O   •                                     X   X   X     O         190.00
188.00                                     X O     •                                   2 O X O X               188.00
186.00                                 X   X O       •                                 X O X O X               186.00
184.00                                 X O X O         •                           X   X O   O                 184.00
182.00                                 X O X O           •                         X O X                       182.00
180.00                                 X 8 X O             •                       X O X                   •   180.00
178.00                                 X O   O               •                     X O                   •     178.00
176.00                                 X     O                 •           X       X                   •       176.00
174.00                                 X     O X       X         • •       C O X   X                 •         174.00
172.00                                 X     O X O X   X O         X •     X O X O X               •           172.00
170.00                                 X     9 X O X O X O         X O •   X O X O X             •             170.00
168.00                                 X     O   O X O A O         X O X • X O X O X           •               168.00
166.00                 •               X         O X O X O         X O X O X O X O X         •               Bot 166.00
164.00                 X •             X         O X O X O         X O X O X O X O X       •                   164.00
162.00 •               X O •       X   X         O   O X O         X O   O   O X O X     •                     162.00
160.00 X • •           X O   • •   X O X           • O   O     X   X         O   O X   •                       160.00
158.00 X O X •         6 O     X • X O X         •       O X   X O X             1 X •                         158.00
156.00 X O X O •       X O     X O X O X       •         O X O X O X             O •                           156.00
154.00 X O X O   •     X O     X O X O X     •           O X O X O X             •                             154.00
152.00 • O X O     •   X O     X O X O X   •             O X O   O X           •                               152.00
150.00   O X O       • X O     X O X O   •               O X     O X         •                                 150.00
148.00   5   O     X   X O X   X 7     •                 O X     O X       •                                   148.00
146.00       O     X O X O X O X     •                   O X     B X     •                                     146.00
144.00       O X   X O X O X O X   •                     O       O X   •                                       144.00
142.00       O X O X O   O • O X •                               O X •                                         142.00
140.00       O X O X   • •   O •                                 O •                                           140.00
138.00       O X O X •       •                                   •                                             138.00
136.00       O X O •                                                                                           136.00
134.00       O • •                                                                                             134.00
                                                                            23                              

 

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