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Apple Joins Others Behind the Woodshed

NEW YORK ( TheStreet) -- Today, I profile ten stocks that have been taken behind the woodshed as the Dow continues its attempt to achieve a new all time closing high above its Oct. 9, 2007, all-time closing high at 14,164.53. A higher closing high for the Dow Industrials is needed to confirm the Dow Theory Buy signal I have been tracking since 2013 began. The Dow Transports set its latest in a string of all-time closing highs at 6020.67 on Feb 19.

While many old economy stocks of the Dow Industrials and Dow Transports probe for new high Apple (AAPL - Get Report), the former MOJO king is in transformation to being a value stock, as investors learn that apple trees do not grow to the sky. On Friday, Apple returned to the woodshed with a new 52-week low of $429.98, now down 39% since setting last September's all-time high at $705.07.

Apple ($430.47) still has a buy rating, is 26.5% undervalued with a twelve month trailing P/E ratio at 9.8. The weekly chart profile remains extremely oversold with the five-week modified moving average (MMA) at $470.71. My annual value level remains $421.05 with a semiannual pivot at $470.21, and annual risky level at $510.64. This week's value level is $397.60.

At , we show that 59.3% of all stocks are overvalued with 15 of 16 sectors overvalued 8 by double-digit percentages. Today's profiles of 10 stocks are in six overvalued sectors: Computer and technology by 12.3%; construction by 22.5%; consumer discretionary by 7.1%' oils-energy by 0.9%; retail-wholesale by 9.9%; and transportation by 18.6%.

Reading the Table

OV / UN Valued: The stocks with a red number are undervalued by this percentage. Those with a black number are overvalued by that percentage according to ValuEngine.

VE Rating: A "1-Engine" rating is a Strong Sell, a "2-Engine" rating is a Sell, a "3-Engine" rating is a Hold, a "4-Engine" rating is a Buy and a "5-Engine" rating is a Strong Buy.

Last 12-Month Return (%): Stocks with a Red number declined by that percentage over the last twelve months. Stocks with a Black number increased by that percentage.

Forecast 1-Year Return: Stocks with a Red number are projected to decline by that percentage over the next twelve months. Stocks with a Black number in the Table are projected to move higher by that percentage over the next twelve months.

Value Level: is the price at which to enter a GTC Limit Order to buy on weakness. The letters mean; W-Weekly, M-Monthly, Q-Quarterly, S-Semiannual and A- Annual.

Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.

Risky Level: is the price at which to enter a GTC Limit Order to sell on strength.
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AAPL $94.74 1.20%
DDS $70.94 -0.66%
CVC $33.90 0.74%
EXPD $48.07 -4.40%
FWLT $27.52 -3.06%


Chart of I:DJI
DOW 17,719.05 -172.11 -0.96%
S&P 500 2,057.92 -23.51 -1.13%
NASDAQ 4,756.0180 -61.5760 -1.28%

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