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Won Europe Today

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Yesterday,

  • European markets closed in the green, leading the gains for the third consecutive day amid earnings. Italian shares traded
    higher after the former European Central Bank President Mario Draghi agreed to form a unity government.
  • The Stoxx 600 was up 0.33% on good volume and is trading above key moving averages. Mostly, all the sectors were in the
    green, led by Autos that was up 2.7%.
  • Among other major indices, France’s CAC closed flat on lower volume. Germany’s DAX is moving higher on rising volume
    and is currently 1% off highs. Both the indices are in an Uptrend Under Pressure with 6 and 4 distribution days, respectively.
    The U.K.’s FTSE 100 closed in the red on higher volume and has support at the 6,400 price level.
  • Of the 17 indices that we track, 15 closed in positive territory with Italy, Finland, and Denmark leading the gains. Switzerland
    closed in negative territory and recorded a distribution day, with the distribution day count increasing to 4. The average
    distribution day count is at 5.5.
  • Actionable names in the Focus List include B&M European (BME.GB; BME:LN), Yougov (YOU.GB; YOU:LN), Sika (SIKA.CH;
    SIKA:SW), Softwareone Holding (SWON.CH; SWON:SW), Schneider Electric (QT@F.FR; SU:FP).

Won Global View

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The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq are consolidating gains after gapping up over the
prior two sessions. Support is at the rising 21-DMA (S&P 500: 3,802; Nasdaq: 13,261). The distribution day count stands six and three,
respectively.

JUBILANT FOODWORKS

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Jubilant Foodworks Ltd (JF1.IN) is India’s largest foodservice company. It
operates the Domino’s Pizza chain, with exclusive rights for India, Nepal,
Bangladesh, and Sri Lanka, and the Dunkin’ Donuts brand, with exclusive
rights for India, under franchise agreements.

COSTCO

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• COST reported 17.9% y/y increase in January sales to $13.64B, with core
SSS up 15.7% (vs. consensus of +12.3%), compared with 10.9% in
December, 14.6% in November, and 16.5% in October. U.S. core comp
(ex. changes in gas prices) increased 16.4%, compares with 11.0% in
December, 14.2% in November, and 16.4% in October.

• Traffic was up 2.6% globally (U.S. traffic up 5.1%). Transactions
accelerated to up 12.9% vs. December up 11.4%. E-commerce was up
105.4% vs. 61.6% in December, 70.9% in November, and 91.0% in
October.

• Every category sequentially accelerated with Hardlines up 30%. Food &
Sundries up high-teens, Hardlines up 30%, Softlines up 20%, Fresh
Foods up low-20%, Ancillary down HSD.

Amazon

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Key points from the report:

 

  • Amazon reported Q4 results after market yesterday, beating handsomely on the top and bottom line. Guidance for Q1 2021 was also ahead of street estimates.
  • The update was overshadowed by the announcement that Founder and CEO Jeff Bezos will step down in Q3 2021. He will be replaced by Andy Jassy, a seasoned Amazon executive who currently heads up the lucrative AWS division.
  • The stock is forming the right side of a stage-one, 23-week consolidation base. Accumulate on a break above pivot at $3,552.25. Fundamental ratings are exceptional: EPS Rank 99, SMR Rating A, Composite Rating 92.

Won Global View

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The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq gapped higher for a second straight session,
retracing the majority of last week’s losses and now facing resistance at all-time highs (S&P 500: 3,870; Nasdaq: 13,636). Both have
regained near-term support along their respective 21-DMA (S&P 500: 3,783; Nasdaq: 13,226). The distribution day count stands at six and
three, respectively, with one expiring on the S&P 500 and two on the Nasdaq next week.

Won Europe Today

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Yesterday,

  • European markets closed in the green on high volume for the second straight day aided by increased optimisim around the
    U.S. stimulus package and acceleration in vaccination rollout.
  • The Stoxx 600 was up 1.29% on good volume and is trading above key moving averages. Most of the sectors were in the
    green, led by Auto, Financials, and Industrials sectors.
  • Among other major indices, France’s CAC and Germany’s DAX both gained more than 1.5% on higher volume and are in an
    Uptrend Under Pressure with six and four distribution days, respectively. The U.K.’s FTSE 100 closed in the green on higher
    volume and is in an Uptrend Under Pressure.
  • Of the 17 indices that we track, 16 closed in positive with France, Ireland, and Belgium leading the gains, whereas
    Luxemburg closed in negative territory. The average distribution day count stands at 5.43.
  • Actionable names in the Focus List include B&M European Value Retail (BME.GB; BME:LN), Yougov (YOU.GB; YOU:LN), Sika
    (SIKA.CH; SIKA:SW), Softwareone Holding (SWON.CH; SWON:SW), Voltalia (VLTS.FR; VLTSA:FP), Schneider Electric
    (QT@F.FR; SU:FP), and Novo Nordisk (NON.DK; NOVOB:DC).

CHIPOTLE MEXICAN GRLL

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O’Neil Methodology

• The stock is trading just above the buy range of $1,384.5-1,454.0 after
breaking out of a stage-two consolidation base. It has immediate
support at its 21-DMA (6.1% away).

• Fundamentals are strong on the back of 13% sales CAGR and improved
margins and ROE in the last three years. Composite Rating of 91 and
SMR Rating of A. EPS Rank of 49 is weak due to a decline in EPS in 2020
owing to COVID-19-related cost pressure.

• Technical profile is currently mediocre with flat RS line and RS Rating of
77, indicating in-line performance with the general market. Up/Down
Volume ratio of 1.5 and A/D Rating of B+ indicate buying interest. The
number of funds holding the stock increased 9.2% y/y to 1,601 as of
December 2020

Won Europe Today

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Yesterday, we published our Weekly European Summary, click here for the report. Key points from the report:

  • The Stoxx 600 was downgraded to an Uptrend Under Pressure last week, after it breached its 21‐DMA. Many European
    markets followed a similar path, breaking below short‐term support, and were downgraded to Under Pressure.
  • The market’s pullback is not surprising given the extended nature of indices two weeks ago, with the Stoxx 600 trading >12%
    from its 200‐DMA.
  • We continue to advocate that the cyclical/value trade is exhausted. Last week, growth/defensive sectors (Tech, Staple) have
    relatively outperformed the general market, while cyclical/value sectors (Financial, Basic Resources) have been
    underperforming significantly.
  • We recommend a cautious approach. Trim positions in extended names and be very selective when buying.
  • European Focus List changes:
    Removed: Puma (PUMX.DE; PUM:GR) and Sweco (SWEB.SE; SWECB:SS)

Won Global View

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The U.S. market is in an Uptrend Under Pressure. The S&P 500 and Nasdaq bounced higher on average volume after last week’s
pullback. Support on the S&P 500 is at the 50-DMA (3,719) and the 21-DMA (13,182) on the Nasdaq. The distribution day count stands at
six and three days, respectively.