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Zacks #1 Stocks on the Move 08/29/2014

Company Name Symbol %Change
UTD THERAPEU UTHR
28.51%
PLC SYSTEMS PLCSF
27.14%
INUVO INC INUV
9.09%
TRIQUINT SEM TQNT
6.52%
RENESOLA LT- SOL
6.23%

Tale of the Tape

US Ecology (ECOL) Enters Oversold Territory

Posted Fri Aug 29, 11:14 am ET

by Zacks Equity Research

US Ecology, Inc. (ECOL) has been on a bit of a cold streak lately, but there might be light at the end of the tunnel for this overlooked stock. And for technical investors there is some hope when looking at ECOL given that, according to its RSI reading of 29.30, it is now in oversold territory.

What is RSI?

RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.

Other Factors

Yet, ECOL’s low RSI value isn’t the only reason to have some optimism over a coming turnaround, as there has been plenty of positive earnings estimate revision activity as of late. This is especially true when investors take a deep dive into some of these estimate revision stats and recent changes to US Ecology’s earnings consensus.

Over the past two months, investors have seen 1 earnings estimate revision moved higher, compared with none lower, at least when looking at the key current year time frame. And the consensus estimate for ECOL has also been on an upward trend over the past 60 days, as estimates have risen from $1.70/share two months ago to just $1.85/share right now. 

If this wasn’t enough, US Ecology also has a Zacks Rank #2 (Buy) which puts it into rare company among its peers. So, given all of these factors, investors may want to consider getting in on this stock now (or holding on), as there are some favorable trends that could bubble up for this stock before long.
 
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Medifast (MED) is Overbought: Is A Drop Coming?

Posted Fri Aug 29, 11:13 am ET

by Zacks Equity Research

Medifast Inc. (MED) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because MED is now in overbought territory with an RSI value of 73.93.

What is RSI?

RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.

Other Factors

Yet MED’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Medifast’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of MED’s prospects for the near term.

Over the past two months, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for MED has also been on a downward trend over the same time period too, as the estimate has fallen from $1.84/share two months ago to just $1.75/share today.

If this wasn’t enough, Medifast also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Axiall (AXLL): Moving Average Crossover Alert

Posted Fri Aug 29, 11:12 am ET

by Zacks Equity Research

Axiall Corporation (AXLL) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for AXLL broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 4% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for AXLL stock.

If that wasn’t enough, Axiall isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

Consider that in the last 30 days, 5 estimates have been reduced, while none have moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

That is why we currently have a Zacks Rank #5 (Strong Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for AXLL.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Moving Average Crossover Alert: Arcos Dorados (ARCO)

Posted Fri Aug 29, 11:11 am ET

by Zacks Equity Research

Arcos Dorados Holdings Inc. Cla (ARCO) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for ARCO broke out below the 200 Day Simple Moving Average, suggesting short-term bearishness.

This has already started to take place, as the stock has moved lower by 30.8% in the past four weeks. And with the recent moving average crossover, investors have to think that more unfavorable trading is ahead for ARCO stock.

If that wasn’t enough, Arcos Dorados isn’t looking too great from an earnings estimate revision perspective either. It appears as though many analysts have been reducing their earnings expectations for the stock lately, which is usually not a good sign of things to come.

Consider that in the last 30 days, 2 estimates have been reduced, while none has moved higher. Add this in to a similar move lower in the consensus estimate, and there is plenty of reason to be bearish here.

That is why we currently have a Zacks Rank #5 (Strong Sell) on this stock and are looking for it to underperform in the weeks ahead. So either avoid this stock or consider jumping ship until the estimates and technical factors turn around for ARCO.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Moving Average Crossover Alert: Universal Display (OLED)

Posted Fri Aug 29, 11:10 am ET

by Zacks Equity Research

Universal Display Corp. (OLED) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for OLED broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.

This has already started to take place, as the stock has moved higher by 13.3% in the past four weeks. Plus, the company currently has a Zacks Rank #2 (Buy) suggesting that now could definitely be the time for this breakout candidate.

More bullishness may especially be the case when investors consider what has been happening for OLED on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 4 higher, while the consensus estimate has also moved higher too.

So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

WPX Energy (WPX) Shares March Higher, Can It Continue?

Posted Fri Aug 29, 11:10 am ET

by Zacks Equity Research

As of late, it has definitely been a great time to be an investor in WPX Energy, Inc. (WPX). The stock has moved higher by 29.3% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.

We certainly think that this might be the case, particularly if you consider WPX’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as WPX has earned itself a Zacks Rank #1 (Strong Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company.

Can the Rally in U.S. Silica (SLCA) Shares Continue?

Posted Fri Aug 29, 11:09 am ET

by Zacks Equity Research

U.S. Silica Holdings, Inc. (SLCA) has been on the move lately as the stock has risen by 25.8% in the past four weeks, and it is currently trading well above its 20-Day SMA. This is a pretty solid move higher, but the question that has to be on investors’ minds right now is; can this trend continue?

While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on SLCA is moving in the right direction. In fact, the stock currently has a Zacks Rank #1 (Strong Buy), suggesting that the recent run could certainly continue for this in-focus company.

Will Signet Jewelers (SIG) Continue to Surge Higher?

Posted Fri Aug 29, 11:08 am ET

by Zacks Equity Research

As of late, it has definitely been a great time to be an investor in Signet Jewelers Limited (SIG). The stock has moved higher by 14.3% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.

We certainly think that this might be the case, particularly if you consider SIG’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as SIG has earned itself a Zacks Rank #1 (Strong Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company.

Can The Uptrend Continue for Pacific Biosciences (PACB)?

Posted Fri Aug 29, 11:08 am ET

by Zacks Equity Research

Investors certainly have to be happy with Pacific Biosciences of California, Inc. (PACB) and its short term performance. After all, the stock has jumped by 21.2% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for PACB?

While we can never know for sure, it is pretty encouraging that estimates for PACB have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #2 (Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks.

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