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Harris Corporation, Nabors Industries Ltd, Trican Well Service Ltd – Analysis

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Today’s report filters down the stocks in the market to find the equities that are remaining bullish as the market begins to show signs of indecisiveness.   The stocks are listed as bullish under candlestick analysis, have made a Bullish Centerline Crossover with respect to the Relative Strength Index and are showing favorable MACD signals.

Highlighting: HARRIS CP (NYSE:HRS), NABORS INDS INC NEW (NYSE:NBR), TRICAN WELL SERVIC COM NPV (TSE:TCW)

Stocks were definitely on the fence today, showing a median return of exactly 0%.   Of the 676 stocks analyzed, 331 advanced, 328 declined, and the remaining 17 were unchanged.   Almost 68% of stocks are currently above their 50-day moving average, with an even stronger majority above the 200-day, now at around 86%.   Volumes were 5% lower on the day as we lead into the jobless reports on Thursday and Friday.

image Chart courtesy of StockCharts.com
HARRIS CP (HRS)
46.82  + 1.39 (3.06%)
Support 2 Support 1 Pivot Point Resistance 1 Resistance 2
44.42 45.62 46.40 47.60 48.38
Expected Short-Term Trading Range: 44.29 – 47.12
Support & Resistance Analysis Broke Upr Resistance (2)
MACD Analysis   Negative/Increasing MACD
MACD vs. Signal Bullish MA Crossover -0.012
RSI Analysis   Bullish Centerline Crossover RSI
Stochastic (Fast) Analysis Increasingly Overbought 56.251
50-Day MA Analysis Above 50-Day MA – Crossover %K (fast)
200-Day MA Analysis Above 200-Day MA 83.944
Critical Level Analysis    
HARRIS CP (HRS) Seasonality
Analysis has revealed that with a buy date of October 22 and a sell date of October 2, investors have benefited from a total return of 800.18% over the last 10 years.   This scenario has shown positive results in 8 of those periods.
Conversely, the best return over the maximum number of positive periods reveals a buy date of October 25 and a sell date of June 1, producing a total return over the same 10-year range of 420.97% with positive results in 10 of those periods.
The buy and hold return for the past 10 years was 296.91%.
Comments:

This technology player is expected to see a huge amount of growth over the next few years.   Reuters reported on Tuesday that the company continues to gain additional Saudi contracts for High-Definition Television Broadcast Technology.   The company is well positioned for gaining market share across the world.   The stock is now trading at the upper ranges of its expected scale and the rally today may be the first signs of outperformance compared to the market.   The seasonality, to a large extent, reveals a buy-and-hold investment, benefitting off of the growth in the company.   On average, the stock witnesses modest returns between now and the beginning of June of around 5%.   This  seasonal strength of this equity comes primarily from October to January when gains of over 20% are the norm.

image

News Headlines for HARRIS CP (HRS)
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image Chart courtesy of StockCharts.com
NABORS INDS INC NEW (NBR)
23.2  + 0.39 (1.71%)
Support 2 Support 1 Pivot Point Resistance 1 Resistance 2
22.45 22.82 23.19 23.56 23.93
Expected Short-Term Trading Range: 21.98 – 24.62
Support & Resistance Analysis Neutral  
MACD Analysis   Negative/Increasing MACD
MACD vs. Signal Bullish MA Crossover -0.255
RSI Analysis   Bullish Centerline Crossover RSI
Stochastic (Fast) Analysis Neutral   52.298
50-Day MA Analysis Below 50-Day MA %K (fast)
200-Day MA Analysis Above 200-Day MA 68.212
Critical Level Analysis    
NABORS INDS INC NEW (NBR) Seasonality
Analysis has revealed that with a buy date of October 10 and a sell date of June 1, investors have benefited from a total return of 1327.15% over the last 10 years.   This scenario has shown positive results in 9 of those periods.
Conversely, the best return over the maximum number of positive periods reveals a buy date of October 10 and a sell date of May 8, producing a total return over the same 10-year range of 1244.37% with positive results in 10 of those periods.
The buy and hold return for the past 10 years was 41.5%.
Comments:

Another energy stock has entered the game.   This stock is set for a seasonal play between now and the beginning of May, with gains of over 18% on average over this period.  In terms of the fundamentals, indication is that the stock might be overvalued at current levels, with meager growth prospects.   Institutions continue to accumulate the stock giving indication that value is still present, however.   The technicals are revealing exactly what you would like to see from a stock under seasonal influences: MACD buy signal, outperformance against the market, and bullish indicators coming from RSI and Stochastics.

image

News Headlines for NABORS INDS INC NEW (NBR)
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image Chart courtesy of StockCharts.com
TRICAN WELL SERVIC COM NPV (TCW.TO)
14.4  + 0.56 (4.05%)
Support 2 Support 1 Pivot Point Resistance 1 Resistance 2
13.49 13.95 14.45 14.91 15.41
Expected Short-Term Trading Range: 13.77 – 14.82
Support & Resistance Analysis Broke Upr Resistance (2)
MACD Analysis   Negative/Increasing MACD
MACD vs. Signal Below/Thinning -0.118
RSI Analysis   Bullish Centerline Crossover RSI
Stochastic (Fast) Analysis Neutral   54.473
50-Day MA Analysis Above 50-Day MA – Crossover %K (fast)
200-Day MA Analysis Above 200-Day MA 54.857
Critical Level Analysis    
TRICAN WELL SERVIC COM NPV (TCW.TO) Seasonality
Analysis has revealed that with a buy date of November 21 and a sell date of June 19, investors have benefited from a total return of 4329.68% over the last 10 years.   This scenario has shown positive results in 9 of those periods.
Conversely, the best return over the maximum number of positive periods reveals a buy date of November 21 and a sell date of June 4, producing a total return over the same 10-year range of 4021.76% with positive results in 10 of those periods.
The buy and hold return for the past 10 years was 1091.53%.
Comments:

Again, the fundamentals of this energy player are more than concerning, struggling to produce a positive EPS as of recent.  However, the stock continues to outperform during the period of seasonal strength in the sector, seeing gains of around 25% between now and June, on average.   Technicals, again, are right in-line with a technical buy signal.   The stock did witness pullback on the day, however, as it exceeded the expected trading range, therefore in order for gains to flourish above current levels would require a new trend to be formed.

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News Headlines for TRICAN WELL SERVIC COM NPV (TCW.TO)
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Equity Clock – By The Numbers will be offered following each trading day.
Disclosure: Mr. Vialoux does not own securities mentioned in this report.
Disclaimer: Comments and opinions offered in this report at EquityClock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities.
Data offered in this report is believed to be accurate, but is not guaranteed.

 

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