Here are updated profiles and buy-and-trade strategies for tech stocks that got hit following their earnings reports in October.
On Oct. 18 I wrote Trade the Volatility After Earnings Reports and in this story I profiled:
IBM (IBM) ($189.25 vs. $200.63 on Oct. 18): Still has a buy rating, is 10.7% undervalued and has a forward P/E of 11.6. The stock is well above its 1999/2000 bubble high, but well below its 200-day SMA at $198.49 with the July 12 low at $181.85. The weekly chart is negative with the five-week MMA at $195.58 with the 200-week SMA at $151.80. My semiannual value level is $178.43 with a weekly pivot at $191.23 and monthly risky level at $201.39.
Intel (INTC) ($20.76 vs. $21.79 on Oct. 18): Still has a buy rating, is 12.5% undervalued and has a forward P/E of 11.2. The stock is well below its 1999/2000 bubble high, set a new 2012 low yesterday and is well below its 200-day SMA at 25.67. The weekly chart is negative but oversold with the five-week MMA at $21.98 and 200-week SMA at $21.32. My weekly value level is $20.37 with a semiannual pivot at $21.14 and monthly risky level at $23.22.
On Oct. 24 I wrote Missed Corporate Revenue Signals QE Fatigue and in this story I profiled:Google (GOOG) ($665.90 vs. $680.35 on Oct. 24) - has been downgraded to hold from buy, is 6.1% undervalued and has a forward P/E ratio of 18.1. Google did not become a publicly-traded company until August 2004. The stock is above its 200-day SMA at $636.97. The weekly chart profile is negative with the five-week MMA at $687.38 and the 200-week SMA at $545.50. My semiannual value level lags at $518.15 with a monthly pivot at $679.57 and weekly and quarterly risky levels at $706.28 and $713.85.
On Nov. 6 I wrote Take Advantage of Earnings Volatility and in this story I profiled: Amazon.com (AMZN) ($226.47 vs. $234.33 on Nov. 6): Still has a buy rating, is 14.5% overvalued and has a forward P/E of 132.5. The stock is above its 1999/2000 bubble high and is above its 200-day SMA at $219.13. The weekly chart profile is negative with the five-week MMA at $236.93 with the 200-week SMA at $159.86. My weekly value level is $222.27 with a semiannual risky level at $236.23.
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