TTG Proprietary Stock Screen with Charts $OTIS $TOST $DOX $SNDX $FUTU 2/1/23
Out of the Box MarketWebs Screen
Here is today’s TTG Proprietary Stock Screen using Volume At Price
Quick Takeaway from the scan:
Clearly, many more names on today’s list! This is breadth expansion folks and something we have been seeing since the start of the year and is illustrated below wih the NYSI.
The NYSI - NYSE McClellan Summation Index is still in a bull crossover with its 10d MA.
Are we getting overbought? The NYMO - NYSE McClellan Oscillator is getting there (over 70 is considered overbought territory) so it is important to remain disciplined!
Back to the scan, not only has the number of names increased (from my last post), but there is also very good participation in sectors with 14 Consumer Discretionary, 15 Financial, 22 Industrial, and 16 Tech companies that lead the sector distribution. What is lacking are Energy with 3, and Health Care with only 7 companies. This does not mean those are bad setups in those respective sectors, rather there are just less opportunities in those groups.
Remember, I am only showing a few setups from the list here and review more in the TTG Trading Room. I provide a more detailed watchlist every weekend to start the week at TTG.
Charts
OTIS Weekly & Daily chart
Otis Worldwide Corporation manufactures, installs, and services building systems. The Company offers elevators, escalators, and other moving products. Otis Worldwide serves customers worldwide. (Bloomberg)
OTIS just reported earnings this morning, here is the writeup from Bloomberg
Otis Worldwide shares edged slightly higher after the maker of elevators posted 4Q sales and profit that topped expectations.
JPMorgan analyst Steve Tusa called the 4Q solid and said recent share gains and last week’s positive results by peer Kone may be tempering the stock’s move on Wednesday
The year forecast calling for organic sales growth of as much as 6% topped his expectation of 1%
“Otis delivered an upside quarter helped mostly by foreign exchange but with underlying details that are positive,” he writes
Tusa keeps his neutral rating on the stock
Meanwhile, Cowen analyst Gautam Khanna called the results and guidance “likely ‘good enough’ for the stock”
Shares are up as much as 1.8% in Wednesday trading; the stock has gained 5.7% year to date
FOURTH QUARTER RESULTS
Net sales $3.44 billion, -3.6% y/y, estimate $3.34 billion
New Equipment Net sales $1.46 billion, -6.5% y/y, estimate $1.4 billion
Services net sales $1.98 billion, -1.4% y/y, estimate $1.93 billion
Organic sales +6.1%, estimate +4.06%
New Equipment Organic Sales 5.1%, estimate 0.62%
Service Organic Sales +6.9%, estimate +6.86%
Adjusted EPS 75c vs. 72c y/y, estimate 72c
EPS 71c vs. 65c y/y
Segment operating profit $527 million
New Equipment operating profit $66 million, -14% y/y, estimate $55.6 million
Services operating profit $461 million, +3.1% y/y, estimate $443.1 million
Free cash flow $430 million, estimate $544.9 million
YEAR FORECAST
Sees adjusted EPS $3.35 to $3.50, estimate $3.43 (Bloomberg Consensus)
Sees net sales $13.8 billion to $14.1 billion, estimate $13.84 billion
Sees organic sales +4% to +6%, estimate +3.47%
Sees free cash flow $1.5 billion to $1.55 billion, estimate $1.64 billion
-suggested stop price $82 from the TTG MarketWebs
TOST Weekly & Daily chart
Toast, Inc. operates as a cloud-based restaurant software company. The Company designs and develops sale and management software system that helps restaurants to improve operations, increase sales, and create a better guest experience. Toast serves customers worldwide. (Bloomberg)
-suggested stop price $22 from the TTG MarketWebs
DOX Daily chart
Amdocs Limited provides product-driven information system solutions to major telecommunications companies in the United States and internationally. The Company provides integrated customer care and billing systems for wireless and wireline network operators and service providers, as well as for companies that offer multiple service packages.
-ok, this is a bit extended after a good earnings report today but this name showed up on the scan frequently in '22 which was obviously a tough year for IT companies so they are doing something right in a more difficult environment. I would buy this on a pull back.
SNDX Weekly & Daily chart
Syndax Pharmaceuticals, Inc. operates as a biopharmaceutical company. The Company offers therapies to treat solid tumors and lung, breast, and hematological cancer. Syndax Pharmaceuticals serves the medical and healthcare sectors in the United States.
-note SNDX was on the 1/12 post but still looks good here imo.
-suggested stop price $27 from the TTG MarketWebs
5. FUTU Weekly & Daily chart
Futu Holdings Limited operates as a holding company. The Company, through its subsidiaries, offers an online brokerage platform that enables individual investors to trade in listed stocks. Futu Holdings serves customers in the United States, China, and Hong Kong.
-this is a China name, so clearly it adds additional political risk
-suggested stop price $53 from the TTG MarketWebs
Remember, this is just one type of screen / setup that I focus on in my analysis!
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