Daily Equity Roster
Published: April 12, 2024
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 California Resources Corporation (CRC).

 

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
KRG Kite Realty Group Trust Real Estate $20.18 19 - 21 34.50 16 5 for 5'er, 11 of 113 in REAL sector matrix, LT pos mkt RS, spread quintuple top, 4.65% yield, Earn. 4/30
OEC Orion SA Chemicals $25.03 22 - 24 45.50 19 4 for 5'er, top third of CHEM sector matrix, LT pos mkt RS, spread quad top, R-R>5, Earn. 5/2
MNST Monster Beverage Corp. Food Beverages/Soap $54.73 mid-to-hi 50s 70 47 5 for 5'er, top third of FOOD sector matrix, LT pos mkt RS, Earn. 5/2
ROP Roper Technologies Inc. Software $539.44 510s - 540s 648 432 4 for 5'er, top half of favored SOFT sector matrix, LT pos mkt RS, quad top breakout, Earn. 4/26
NUE Nucor Corporation Steel/Iron $197.34 170s - 180s 234 150 4 for 5'er, top half of STEE sector matrix, spread triple top, pullback from ATH, 1.2% yield, Earn. 4/22
BYD Boyd Gaming Corp Gaming $65.44 61 - hi 60s 87 52 4 TA rating, top 33% of GAME sector matrix, LT RS buy, buy-on-pullback, Earn. 4/23
CCEP Coca-Cola Europacific Partners PLC Food Beverages/Soap $67.88 60s 97 56 5 for 5'er, top 25% of FOOD sector matrix, spread quad top, R-R~3.0, 3% yield
CXT Crane NXT Co. Electronics $62.50 hi 50s - low 60s 76 48 Top half of MACH sector matrix, bullish catapult, Earn. 5/8
ODFL Old Dominion Freight Line, Inc. Transports/Non Air $219.75 212 - 220s 258 182 4 for 5'er, favored TRAN sector matrix, LT pos mkt RS, bullish triangle, Earn. 4/24
SPB Spectrum Brands Holdings Food Beverages/Soap $80.74 hi 70s - mid 80s 112 65 4 TA rating, top quartile of FOOD sector RS matrix, consec. buy signals, buy-on-pullback, R-R > 2
ANSS Ansys Inc Software $340.23 330s - 350s 412 300 5 for 5'er, favored SOFT sector matrix, triple top, LT pos mkt RS, good R-R, Earn. 5/1
MMC Marsh & McLennan Companies, Inc. Insurance $199.19 190s - low 200s 234 180 5 for 5'er, favored INSU sector, LT pos mkt RS, quad top breakout, 1.4% yield, Earn. 4/18
IT Gartner, Inc. Business Products $474.72 440s - 470s 556 380 5 for 5'er, top 20% of favored BUSI sector matrix, LT pos mkt RS, quad top breakout, Earn. 4/30
BLMN Bloomin' Brands Inc Restaurants $26.95 hi 20s - low 30s 41 24 5 for 5'er, #10 of 27 in REST sector matrix, LT pos mkt RS, quintuple top, R-R>2.0, 3.2% yield, Earn. 4/26
EAT Brinker International Inc Restaurants $46.65 mid 40s - lo 50s 75 37 5 TA rating, top 25% of REST sector matrix, LT RS buy, consec. buy signals, R-R > 2.5, Earn. 4/30
HEI Heico Corporation Aerospace Airline $193.79 184 - hi 190s 262 152 5 TA rating, top half of AERO sector matrix, LT RS buy, near-term consolidation
HRB H&R Block, Inc. Business Products $46.92 mid 40s - lo 50s 71 39 5 TA rating, top 33% of BUSI sector matrix, LT pos trend, LT pos. mkt. RS, buy-on-pullback, R-R > 2, Earn. 5/7
RRR Red Rock Resorts Inc Gaming $61.59 hi 50s - lo 60s 87 49 5 TA rating, top 25% of GAME sector matrix, consec. buy signals, new ATH, R-R > 2, Earn. 5/7
TMHC Taylor Morrison Home Corporation Building $56.83 hi 50s - lo 60s 87 50 5 TA rating, top half of BUIL sector matrix, six consec. buy signals, LT pos. trend, buy-on-pullback, R-R > 3, Earn. 4/30
ITW Illinois Tool Works Inc. Machinery and Tools $257.68 low 250s - hi 260s 356 216 5 for 5'er, LT pos mkt RS, spread quad top, 2.1% yield, Earn. 4/30
MGM MGM Resorts International Gaming $44.72 42-hi 40s 66 38 4 TA rating, top 50% of GAME sector matrix, LT RS buy, consec. buy signals, pos. wkly. mom., R-R > 2, Earn. 5/1
DKNG DraftKings Inc Class A Gaming $45.44 mid-to-hi 40s 72 40 5 for 5'er, #2 of 17 in GAME sector matrix, triple top breakout, R-R>3.0, Earn. 5/2
RPM RPM, Inc. Chemicals $109.82 mid 100s - hi 110s 159 91 5 TA rating, LT RS buy, consec. buy signals, top 50% of CHEM sector matrix, buy-on-pullback, R-R > 2
ARCB ArcBest Corp. Transports/Non Air $151.75 140s - low 150s 206 124 5 for 5'er, top 20% of favored TRAN sector matrix, LT pos mkt RS, R-R>2.0, Earn. 4/30
DASH DoorDash, Inc. Class A Retailing $140.95 mid $130s - hi $140s 166 132 5 TA rating, top decile of RETA sector matrix, shakeout pattern, R-R > 3, Earn. 5/1
CRC California Resources Corporation Oil $56.54 mid-to-hi 50s 77 45 4 for 5'er, LT pos mkt RS, spread quad top, R-R ~ 2.0, 2.2% yield, Earn. 5/7

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
MTCH Match Group, Inc. Internet $33.81 (mid 30s) 26 40 0 for 5'er, bottom half of INET sector matrix, LT neg trend & RS, Earn. 4/30

Removed Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
ANET Arista Networks Inc Internet $296.58 280s - 300s 364 252 ANET fell to a sell signal on Friday. OK to hold here. Maintain $252 stop. Earn. 5/7

Follow-Up Comments

Comment
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NDW Spotlight Stock

 

CRC California Resources Corporation R ($55.90) - Oil - CRC is a 4 for 5'er that ranks near the middle of the oil sector matrix and has been on a market RS buy signal since mid-2021. On its default chart, the stock gave a second consecutive buy signal earlier this week when it broke a spread quadruple top at $57, taking out resistance that had been in place since October. Long exposure may be added in the mid-to-upper $50s and we will set our initial stop at $45, a potential spread triple bottom break on CRC's default chart. We will use the bullish price objective, $77, as our target price, giving us a reward-to-risk ratio approaching 2.0. CRC also carries a 2.2% yield. Earnings are expected on 5/7.

 
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57.00                                                                         9 O X O                 X     57.00
56.00                                                                         X O X O X   X       X   4     56.00
55.00                                                                         X O   A X O X O X   X O X     55.00
54.00                                                                         8     O X O X O X O X O X     54.00
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49.00         X O •       X O •           X O   •     X •         •           X         C   O X O X         49.00
48.00         X O   •     X O   •         X O     •   X O •       X •         X             O X O X   •     48.00
47.00         X O X   •   X O     •       X 9       • B O X •     X O •       7             2 X O X •       47.00
46.00     X   X O X O   • 6 O       • •   X O         X O X O •   X O   •     X             O   O •         46.00
45.00     X O X O X O X   X O         X • X O         X O X O   • X O     •   X               • •           45.00
44.00     X O X 4   O X O X O         X O X O         X O X C X   X O 3     • X             •               44.00
43.00 X   X O X     O X O X O     X   X O X O X   X   X O   O X O X O X O     X           •                 43.00
42.00 X O 3 O X   • O X O X O X   X O X 8   O X O X O X   • O X O X O X O     X         •                   42.00
41.00 X O X O   •   O X O X O X O X O X   • O X O X O X •   O X 1 • 2 X O X   6       •                   Bot 41.00
40.00   O X   •     O X O X O X O X O   •   O A O   O •     O • •   O X O X O X     •                       40.00
39.00   O X •       5   O • O X O X   •     O X   • •       •       O   O 4 O X   •                         39.00
38.00   O •             •   O X 7 X •       O X •                       O X 5   •                           38.00
37.00   •                   O X O •         O •                         O X   •                             37.00
36.00 •                     O • •           •                           O X •                               36.00
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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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