Symbol: PKI

PerkinElmer

Posted on by Raj Gupta

Key points from this report:

 

  • Buy PerkinElmer (PKI). The stock is actionable after breaking out from a seven-week flat base in heavy volume. Add to positions.
  • PerkinElmer has a top three market position in 65–70% of its product lines. Driven by increasing diagnostic revenue, recurring revenue now accounts for 75% of total revenue, up from 55% in 2014.
  • The company is now the global leader in biochemical prenatal testing, newborn screening, and global autoimmune in vitro diagnostics. Through this improving product mix as well as geographic expansion, the company has tripled its TAM to ~$50B.

US Focus

Posted on by Sandeeep N

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq closed the week on a strong note, rallying sharply off price support and now set to face resistance at their respective 50-DMA (S&P 500: 3,351; Nasdaq: 11,025). Distribution remains elevated at seven and six days, respectively, with one day expiring on the Nasdaq next Wednesday.

US Focus

Posted on by Sandeeep N

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq are both now trading slightly below their respective 50-DMA with six distribution days each. One distribution day will expire on the Nasdaq next Wednesday. The S&P 500 is trading ~7% off highs with the next level of support at ~3,233, while the Nasdaq is trading ~11% off highs with near-term support at ~10,700 before ~10,200. Both indices are being dragged lower by big cap tech as the majority of other leading ideas continue to base constructively.

US Focus

Posted on by Sandeeep N

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq pulled back towards their respective 50-DMA this week, with the S&P 500 sitting just above that level and the Nasdaq just below. Distribution stands at five and six days, respectively, with one day set to expire on the S&P 500 and two on the Nasdaq next week.

US Focus

Posted on by Sandeeep N

The U.S. market has been moved to an Uptrend Under Pressure. The Nasdaq reversed sharply off its upper channel line Thursday and broke below its 21-DMA Friday. Though the index did find strong support at its 50-DMA, we believe this sharp break lower will lead to choppy action over the next several days to weeks. The index did avoid distribution on Friday, though the count did increase to six this week. The S&P 500 also sold off sharply, but did manage to close at its 21- DMA Friday and avoid distribution as selling pressure was more severe across megacap tech leaders which pulled back into their respective bases. We will be looking for indices to hold support at their respective 50-DMA (S&P 500: 3,299; Nasdaq: 10,858) next week.

US Focus

Posted on by Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq continued their push into higher highs this week, trending constructively above all major moving averages. We will be looking for sideways consolidation at the index level in the coming days as megacap Tech ideas consolidate sharp gains over the last two weeks. This should result in positive internal action as many growth ideas are building and breaking out from secondary entry points. Though indices have become extended from shorter-term moving averages, all leading technical indicators remain positive. We will become more concerned should distribution on the Nasdaq begin to cluster near highs. Currently, the count stands at one and five days, respectively, with no expiration next week.

US Focus

Posted on by Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq made new all-time
highs this week, holding trend along their respective 10- and 21-DMA. Distribution stands at one
and six days, respectively, though two days expire on the Nasdaq early next week.

US Focus

Posted on by Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq remain above their respective 10- and 21-DMA with one and five distribution days, respectively. No distribution days will expire next week, but two will fall off the Nasdaq the following week. Resistance remains alltime highs of 3,393 on the S&P 500 and 11,121 on the Nasdaq before its upper channel line.

US Focus

Posted on by Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 continues to trend off 21-DMA support with the next level of resistance at all-time highs of 3,393 (+1.3%). The Nasdaq pulled back off all-time highs on Friday as Technology paused, while Financials, Retail and Industrials came under accumulation. The Nasdaq still closed off session lows and remains well above 10- and 21-DMA support. Distribution remains relatively low with one day set to expire on both indices next week.