Today's featured stock is Palo Alto Networks Inc (PANW).
Long Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| CENTA | Central Garden & Pet Company | Household Goods | $38.81 | mid-to-hi 30s | 48 | 31 | 4 for 5'er, favored HOUS sector, LT pos peer RS, spread quad top, buy on pullback |
| NVDA | NVIDIA Corporation | Semiconductors | $212.21 | 220 - 240 | 300 | 204 | 4 for 5'er, top third of Semis matrix, pos. ST Mkt and Peer RS, ATH on 10/2, Earn. 11/17 |
| SN | SharkNinja, Inc. | Household Goods | $199.16 | hi 170s - 180s | 222 | 156 | 5 for 5'er, top 10% of HOUS sector matrix, multiple buy signals, Earn. 11/4 |
| URBN | Urban Outfitters, Inc. | Retailing | $88.33 | 79 - 85 | 99 | 71 | 4 for 5'er w/recent pos. trend change, Pos. LT Mkt. and Peer RS, Top quartile of Retail matrix, Matched ATH on 10/13. |
| ASH | Ashland Inc. | Chemicals | $73.57 | hi 60s - mid 70s | 86 | 62 | 5 for 5'er, top 10% of CHEM sector matrix, RS buy signal, bearish signal reversal, 2.4% yield, Earn. 11/3 |
| SWK | Stanley Black & Decker, Inc. | Machinery and Tools | $98.97 | hi 80s - mid 90s | 111 | 75 | 4 for 5'er., top 20% of MACH sector matrix, quad top, 3.6% yield Earn. 11/4 |
| WDAY | Workday Inc. | Software | $209.99 | low 190s to hi 200s | 230 | 178 | 4 for 5'er, Top half of SOFT sector matrix, Pos. LT Mkt. RS, Pos. Trend. |
| BBY | Best Buy Co., Inc. | Retailing | $99.83 | low-to-mid $90s | 119 | 76 | 4 for 5'er, top 20% of RETA sector matrix, one box from market RS buy signal, 4.2% yield |
| RBRK | Rubrik, Inc. Class A | Software | $120.75 | lo 110 - mid 120 | 144 | 104 | 5 for 5'er, Top decile of Software matrix, Pos. LT Mkt. and Peer RS, Pos. trend. |
| PANW | Palo Alto Networks Inc | Software | $354.92 | 360s - 380s | 472 | 308 | 4 for 5'er, top half of favored SOFT sector matrix, LT pos peer RS, |
Short Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
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Removed Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| ASC | Ardmore Shipping Corporation | Transports/Non Air | $19.34 | 17 - 19 | 24 | 15.50 | Removed for earnings. Earn. 11/4 |
| CSTL | Castle Biosciences, Inc. | Biomedics/Genetics | $33.15 | 32 - 35 | 63.50 | 28 | Removed for earnings. Earn. 11/5 |
| ACT | Enact Holdings Inc | Finance | $46.92 | low-to-mid 40s | 69 | 37 | Removed for earnings. Raise stop to $40. Earn. 11/4 |
| ELF | Elf Beauty Inc | Household Goods | $114.99 | 98 - 110 | 123 | 90 | Removed for earnings.Earn. 11/4 |
| BABA | Alibaba Group Holding Ltd (China) ADR | Retailing | $101.82 | (100 - mid-110) | 84 | 126 | BABA has fallen into heavily oversold territory. OK to hold here. Lower stop to $122. |
Follow-Up Comments
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NDW Spotlight Stock
PANW Palo Alto Networks Inc R ($380.05) - Software - PANW is a 4 for 5'er that ranks in the top half of the favored software sector matrix and has been on a peer RS buy signal since 2021. After giving two consecutive sell signals, PANW returned to a buy signal this week when it broke a double top at $360. Long exposure may be added in the $360s to $380s and we will set our initial stop $308. We will use the bullish price objective, $472, as our target price. PANW is expected to report earnings on 11/19.
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