Today's featured stock is Flex Ltd (FLEX).
Long Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| BN | Brookfield Corp. | Wall Street | $46.55 | mid-to-hi 60s | 62.50 | 41 | Due to a stock split, we will adjust our stop to $41, which would take out multiple levels of support on BN's $0.50 chart. Earn. 11/13 |
| AYI | Acuity Inc. | Building | $361.50 | 340s - 350s | 456 | 296 | 4 for 5'er, top half of BUIL sector matrix, triple top, buy on pullback, R-R~2.0 |
| JOYY | JOYY Inc. | Internet | $60.52 | mid-to-hi 50s | 88 | 48 | 5 for 5'er, top third of favored INET sector matrix, spread triple top, buy on pullback, R-R~4.0, 4.9% yield, Earn. 11/25 |
| SNOW | Snowflake, Inc. Class A | Software | $269.70 | low $230s to low $250s | 358 | 212 | 4 for 5'er, pos. trend and mkt RS buy signal since May; pulling back from rally high; top quintile of software matrix, Earn. 11/26 |
| IBKR | Interactive Brokers Group, Inc. | Wall Street | $69.19 | mid-to-hi 60s | 79 | 59 | 5 for 5'er, #2 of 62 in favored WALL sector matrix, LT pos mkt & peer RS, buy on pullback |
| DCI | Donaldson Co Inc | Waste Management | $83.58 | 80 - 84 | 92 | 67 | 3/5'er; top 3rd of sector matrix; ATHs 10/21; R-R > 2. |
| SF | Stifel Financial Corp | Wall Street | $117.56 | 110s | 140 | 92 | 4 for 5'er, top half of WALL sector matrix, LT pos peer & mkt RS, quad top break, 1.6% yield |
| CMC | Commercial Metals Corporation | Steel/Iron | $61.03 | hi 50s - low 60s | 79 | 49 | 4 for 5'er, favored STEE sector matrix, LT pos peer & mkt RS, pos trend flip, 1.2% yield |
| TJX | The TJX Companies, Inc. | Retailing | $141.69 | 136-hi 140s | 194 | 118 | 4 TA rating, top 50% of RETA sector matrix, LT pos trend, LT mkt RS buy, consec buy signals, Earn. 11/19 |
| AIT | Applied Industrial Technologies, Inc. | Machinery and Tools | $254.10 | mid 240s - ow 260s | 316 | 208 | 5 for 5'er, top half of favored MACH sector matrix, LT pos peer & mkt RS, pos trend flip |
| FLEX | Flex Ltd | Electronics | $66.10 | 61 - hi 60s | 82 | 54 | 5 TA rating, top half of ELEC sector matrix, LT RS buy, consec buy signals, buy on pullback |
Short Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|
Removed Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| TPR | Tapestry Inc. | Textiles/Apparel | $112.92 | 110s | 163 | 92 | Removed for earnings (11/6) |
| TXRH | Texas Roadhouse, Inc. | Restaurants | $170.88 | hi 160s - hi 170s | 226 | 148 | Removed for earnings (11/6) |
| CMI | Cummins Inc. | Machinery and Tools | $441.26 | hi 390s - 430s | 492 | 352 | Removed for earnings (11/6) |
Follow-Up Comments
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NDW Spotlight Stock
FLEX Flex Ltd ($63.99) R - Electronics - FELX has a 5 for 5 TA rating and sits in the top half of the favored electronics sector RS matrix. The stock has been on an RS buy signal against the market and its peers since 2020. We recently saw FLEX give a fourth consecutive buy signal before reaching a new all-time high at $67 on Wednesday of this week. The market action on Thursday saw FLEX retract from that extended position to a more actionable trading range in the mid-$60s. The long-term technical picture remains positive, allowing this retracement to serve as a buy-on-pullback opportunity. Exposure may be considered from $61 to the upper $60s. Our initial stop will be positioned at $54, which would violate multiple support levels. The bullish price objective of $82 will serve as our price target.
| 67.00 | X | 67.00 | |||||||||||||||||||||||||||
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