Daily Equity Roster
Published: April 16, 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 The Cigna Group (CI).

 

Long Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
KRG Kite Realty Group Trust Real Estate $20.02 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 $24.33 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
ROP Roper Technologies Inc. Software $528.26 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 $194.01 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 $64.56 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 $67.08 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 $61.03 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 $220.06 212 - 220s 258 182 4 for 5'er, favored TRAN sector matrix, LT pos mkt RS, bullish triangle, Earn. 4/24
ANSS Ansys Inc Software $328.16 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 $197.32 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 $463.59 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 $26.80 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
HEI Heico Corporation Aerospace Airline $193.73 184 - 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 $46.32 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 $59.96 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
ITW Illinois Tool Works Inc. Machinery and Tools $253.83 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 $42.85 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 $43.70 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 $108.40 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 $149.95 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
CRC California Resources Corporation Oil $55.00 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
GS Goldman Sachs Group, Inc. Wall Street $400.88 hi 380s - low 410s 484 348 4 for 5'er, top half of WALL sector matrix, one box from mkt RS buy signal, quad top breakout, 2.75% yield
CI CIGNA Group/The Insurance $348.90 332 - lo 360s 428 288 5 TA rating, top half of INSU sector matrix, LT RS buy, buy-on-pullback

Short Ideas

Symbol Company Sector Current Price Action Price Target Stop Notes
MTCH Match Group, Inc. Internet $31.96 (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
MNST Monster Beverage Corp. Food Beverages/Soap $54.10     47 MNST moved to a sell signal this week. Current exposure may maintain the $47 stop.
SPB Spectrum Brands Holdings Food Beverages/Soap $78.58     65 SPB moved to a sell signal this week. Current exposure may maintain the $65 stop.
EAT Brinker International Inc Restaurants $45.02     37 EAT moved to a sell signal this week. Current exposure may maintain the $37 stop.
TMHC Taylor Morrison Home Corporation Building $55.66     50 TMHC moved to a sell signal this week. Current exposure may maintain the $50 stop.
DASH DoorDash, Inc. Class A Retailing $132.94     108 DASH reversed down and hit our stop at $132. Long term investors may continue using the $108 stop.

Follow-Up Comments

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NDW Spotlight Stock

 

CI CIGNA Group/The R ($346.85) - Insurance - CI has a 5 for 5 TA rating and sits in the top half of the favored insurance sector RS matrix. The stock has moved sharply higher this year, giving three consecutive buy signals while ascending to a new all-time high at $364 last month. The market action this week saw CI retract from that high to the current chart position at $348, offering a more opportune entry point for potential long exposure. The overall weight of the technical evidence is favorable and has remained resilient, as the stock has been on an RS buy signal against the market since 2022. Exposure may be considered on this pullback from $332 to the low $360s. Our initial stop will be positioned at $288, which would violate all support from this year. The bullish price objective of $428 will serve as our price target. Note that earnings are also expected on 5/2.

 
                                  23                                                     24                
364.00                                                                                               X       364.00
360.00                                                                                               X O     360.00
356.00                                                                                               X O     356.00
352.00                                                                                               X 4     352.00
348.00                                                                                               X O     348.00
344.00                           •                                                               X   3     Mid 344.00
340.00                           X • •                                                           X O X       340.00
336.00                           X O X •                                                         X O X       336.00
332.00                           C O X O •                                                       X O         332.00
328.00                       B   X O X O   •                                                     X           328.00
324.00                       X O X O   1     •                                                   X           324.00
320.00                       X O X     O       •                                     •           X           320.00
316.00                       X O X     O X   X   •                               X   B •         X         Bot 316.00
312.00                       X O X     O X O X O   •                             X O X O •   X   X           312.00
308.00                       X O X     O X O X O     •                           X O X O   • X O X           308.00
304.00                       X O X     O X O   2       •                         X O   O     1 O 2           304.00
300.00                       X O X     O     • O X       •                   8   X     O     X O X           300.00
296.00                   9   X O X         •   O X O       •                 X O A     O     X O X           296.00
292.00                   X O X O         •     O X O         •               X O X     O     X O             292.00
288.00                   X O A         •       O   3           •             X O 9     O     X               288.00
284.00                   X O X       •             O             •           X O X     O     X               284.00
280.00           X       8 O X     •               O               •     X   X O X     O     X               280.00
276.00           X O X   X O     •                 O                 •   X O X O X   • O     X         •     276.00
272.00       X   7 O X O X     •                   O                 X • X O X O X •   O C   X       •       272.00
268.00   X   X O X O X O X   •                     O     X   X   X   X O X 7   O •     O X O X     •         268.00
264.00 O X O X O X O   O   •                       O X   4 O X O X O X O X   • •       O X O X   •           264.00
260.00 O X O X 6 X       •                         O X O X O X O X O X O X •           O   O X •             260.00
256.00 O   O   O X     •                           O X O X O X O 6 O   O •                 O •               256.00
252.00         O X   •                             O   O   O X O X   • •                   •                 252.00
248.00         O X •                                       O X O X •                                         248.00
244.00         O •                                         5   O •                                           244.00
                                  23                                                     24                

 

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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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