I haven’t looked at each individual issue in the simple, straight-forward manner of what’s considered in a Bullish light, according to where their price is in relation to their 50 and 200-day moving averages in quite some time… or which ones are looking Bearish.
Of the 23 stocks I’ve been listing for quite some time, go to a free stock charting site like investors.com, Research, IBD Charts, which are already set-up with 50 and 200-day moving averages.
See all those that are above their 200-day, and in a longer-term Bullish uptrend? They would be these 19: JKHY, TJX, EFX, ROST, HD, AOS, TSCO for now anyways, UNH, LOW, NOC, SYK, EL, STZ, COST, FDS, RAI, LMT, NDAQ and DG.
That would leave these 4, which are decidedly not above their 200-day moving average, and are acting quite Bearish at this time: HRL, NKE, SBUX and CVS.
Of these 4, do any ‘deserve’ to be in a Bearish downtrending price pattern, due to weak earnings estimates? Let’s see. HRL doesn’t. I wouldn’t even say NKE does, either, but the EPS line has just begun to show some weaker revisions here in July. I know it was just announced only yesterday, that Starbucks sales had slowed, and that is in no way yet reflected in any earnings estimate I’m looking at. So, I would expect it’s price would be further hit. And CVS? CVS is looking great, as far as its EPS line is concerned. It had stumbled, after it announced it would no longer sell tobacco products, but that hit was overcome, beginning mid-February, and has been marching relentlessly upward ever since.
Am I worried that 4 of our 23 selections are not behaving well, price-wise, in the marketplace? Not at all… not yet anyways.
Monday morning, nearing 7:00 am EST, and the world’s markets everywhere are mixed; some up and others down. Our own futures are off ever so slightly. It would appear that no one knows what to do! Having updated the timer… measures of market risk are very high, though some have begun to come off a bit. It’s all the foreign money coming here that’s driving our markets, stock and bond, crazy.
Here’s to your successful investing!
Harold F Crowell