Today's featured stock is Granite Construction Inc (GVA).
Long Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| DCI | Donaldson Co Inc | Waste Management | $86.59 | 80 - 84 | 92 | 67 | 3/5'er; top 3rd of sector matrix; ATHs 10/21; R-R > 2, Earn. 12/4 |
| SF | Stifel Financial Corp | Wall Street | $122.04 | 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 | $59.53 | 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 |
| AIT | Applied Industrial Technologies, Inc. | Machinery and Tools | $250.89 | 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 |
| UBS | UBS AG (Switzerland) ADR | Banks | $39.07 | mid-hi 30s | 65 | 30 | 5 TA rating, top 20% of BANK sector RS matrix, LT RS buy, LT pos trend, buy-on-pullback, R-R > 3, yield > 2% |
| BAC | Bank of America | Banks | $52.87 | 49 - 54 | 67 | 44 | 4 for 5'er, top 25% of favored BANK sector matrix, LT pos peer RS, bullish catapult, 2.1% yield |
| SHEL | Shell PLC Sponsored ADR | Oil | $75.92 | 72 - hi 70s | 87 | 65 | 4 TA rating, top 25% of OIL sector, LT RS buy, consec buy signals, yield > 3% |
| BBY | Best Buy Co., Inc. | Retailing | $76.18 | 70s | 111 | 63 | 3 for 5'er, top third of RETA sector matrix, quad top, buy on pullback, R-R>2.0, 4.7% yield, Earn. 11/25 |
| CME | CME Group, Inc. | Wall Street | $283.54 | 260s - 270s | 312 | 224 | 4 for 5'er, middle of WALL sector matrix, triple top breakout, 1.8% yield |
| AFL | AFLAC Incorporated | Insurance | $115.01 | 108 - 115 | 143 | 95 | 4 for 5'er, top half of INSU sector matrix, LT pos peer & mkt RS, spread triple top, 2% yield |
| GFI | Gold Fields Limited (South Africa) ADR | Precious Metals | $41.29 | 40 - 44 | 58 | 35 | 4 for 5'er, top third of PREC sector matrix, LT pos peer & mkt RS, good R-R, 1.8% yield |
| FTI | TechnipFMC PLC | Oil Service | $43.16 | hi 30s - mid 40s | 60 | 34 | 5 TA rating, top 50% of OILS sector matrix, LT RS buy and pos trend, consec buy signals |
| GVA | Granite Construction Inc | Building | $102.75 | hi 90s - mid 100s | 157 | 87 | 5 for 5'er, top third of BUIL sector matrix, buy on pullback, R-R>3.0 |
Short Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|
Removed Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| SNOW | Snowflake, Inc. Class A | Software | $256.92 | low $230s to low $250s | 358 | 212 | SNOW has fallen to a sell signal. OK to hold here. Maintain $212 stop. Earn. 12/3 |
| ITT | ITT Corporation | Machinery and Tools | $184.75 | hi 170s - mid 190s | 250 | 162 | ITT has fallen to a sell signal. OK to hold here. Maintain $162 stop. |
Follow-Up Comments
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NDW Spotlight Stock
GVA Granite Construction Inc R ($102.51) - Building - GVA is a 5 for 5'er that ranks in the top third of the building sector matrix. After briefly falling to a sell signal in August, GVA rallied and returned to a buy signal with a double top break at $99. The stock continued higher, reaching a new all-time high at $112 before pulling back and reversing up from previous resistance. Long exposure may be added in the upper $90s to mid $100s and we will set our initial stop at $87, a potential spread triple bottom break on GVA's chart, which would also violate its trend line. We will use the bullish price objective, $157, as our target price, giving us a reward-to-risk ratio north of 3.0.
| 112.00 | X | 112.00 | |||||||||||||||||||||||||||
| 110.00 | X | O | 110.00 | ||||||||||||||||||||||||||
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| 106.00 | X | 9 | Mid | 106.00 | |||||||||||||||||||||||||
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| 95.00 | 7 | X | O | X | Bot | 95.00 | |||||||||||||||||||||||
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| 70.00 | O | O | • | 70.00 |
