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Upgrades and Downgrades from the Woodshed

Valspar (VAL) ($62.03 vs. $61.94 on Feb. 13) has been downgraded to sell from buy becoming a source of funds. VAL has a negative weekly chart profile with the five-week MMA at $63.31. My quarterly value level is $60.41 with a semiannual pivot at $63.37 and monthly risky level at $65.37.

Woodshed stocks profiled on Feb. 20, 2013:

Rackspace (RAX) ($49.74 vs. $57.74 on Feb. 20) has been upgraded to buy from hold making the stock a buy-and-trade candidate. The weekly chart profile is negative with the five-week MMA at $57.28. My weekly value level is $38.65 with a quarterly risky level at $75.06.

Woodshed stocks profiled on March 4, 2013:

Foster Wheeler (FWLT) ($22.67 vs. $20.22 on March 4) has been downgraded to hold from buy so positions in this stock should be reduced on strength. FWLT has a negative weekly chart profile with the stock below its five-week MMA and 200-week SMA at $23.10 and $25.89. My weekly value level is $20.32 with a semiannual risky level at $26.44.

Garmin (GRMN) ($32.97 vs. $35.14 on March 4) has been upgraded to buy from hold making the stock a buy-and-trade candidate. GRMN has an oversold weekly chart profile with the five-week MMA and 200-week SMA at $35.44 and $35.08. My weekly value level is $32.90 with a monthly risky level at $38.37.

JC Penney (JCP) ($14.89 vs. $17.69 on March 4) has been upgraded to strong buy from hold making the stock a buy-and-trade candidate. JCP has a negative weekly chart profile with the five-week MMA at $17.03. The March 2009 low is $13.71 with a weekly pivot at $16.33 with a semiannual risky level at $17.38.

Verifone Systems (PAY) ($20.36 vs. $19.05 on March 4) had been downgraded to hold from buy than upgraded this morning back to buy making the stock a buy-and-trade candidate. PAY has a negative weekly chart profile with the five-week MMA at $23.65. My weekly value level is $13.94 with a monthly risky level at $24.97.

At the time of publication, the author had no positions in the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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