NEW YORK (TheStreet) -- Stocks should have a volatile week given the mix of earnings reports, economic data and the FOMC decision. Today I am profiling nine companies that report earnings on Thursday and Friday, including three more Dow components.Before I do, this mornings breaking news is that Apple ( AAPL) ($447.79) has been downgraded to hold from buy according to www.ValuEngine.com. The cause of this downgrade is that the stock's upside over the next 12 months fell to 3.9% following Monday's rally of $6.80. Apple remains undervalued, but just by 2.2%, and is down 24.7% over the last 12 months. The 12 month forward price-to-earnings ratio remains reasonable at 10.9. The weekly chart profile is positive with the stock above its five-week modified moving average at $432.12, after holding its 200-week simple moving average at $386.52 at the end of June. Apple is trading between annual pivots at $421.05 and $510.64. The stock market continues to trade under a ValuEngine valuation warning with 76.0% of all stocks overvalued, 43.5% are overvalued by 20% or more. 15 of 16 sectors are overvalued, 14 by double-digit percentages. Among the nine stocks profiled today, seven are rated hold and two are rated buy. All are overvalued by 8.0% to 40.8% with gains of 6.5% to 95.5% over the last 12 months. None are expected to match these performances over the next 12 months. Seven are above their 200-day simple moving averages reflecting the risk of reversion to the mean. Here is my table of data for the nine stocks reporting results on Thursday and Friday.
Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months. Value Level: 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: Price at which to enter a GTC limit order to sell on strength. Beazer Homes ( BZH) ($17.19) set a multi-year high at $23.29 on May 20, and has been trading back and forth around its 200-day SMA at $17.22 since June 21. My weekly value level is $15.79. Cardinal Health ( CAH) ($50.58) set a multi-year high at $51.09 on July 26. This buy rated stock has a semiannual value level at $43.56 with a semiannual pivot at $51.18. Chevron ( CVX) ($126.17) set a multi-year high at $127.83 on July 25. My annual value level is $123.08 with a semiannual risky level at $132.79. Linkedin ( LNKD) ($203.71) set a multi-year high at $209.39 on July 29. My monthly pivot is $205.78 with a weekly risky level at $211.54. Mohawk Industries ( MHK) ($114.60) set a multi-year high at $120.70 on May 14 then traded as low as $103.74 on June 4. My semiannual value level is $109.94 with a weekly pivot at $115.36 and monthly risky level at $126.37. PG) ($80.09) set a multi-year high at $82.54 on April 23 then traded as low as $75.10 on June 20. This buy rated Dow component has an annual value level at $75.13 with an annual pivot at $78.73 and semiannual risky level at $81.86. Public Storage ( PSA) ($159.59) set a multi-year high at $168.66 on May 22 then traded as low as $145.04 on June 20. My annual value level is $149.89 with a weekly pivot at $161.23 and quarterly risky level at $168.55. Vulcan Materials ( VMC) ($47.93) set a multi-year high at $59.48 on Jan. 22 then traded as low as $45.42 on April 15. My weekly value level is $46.53 with a semiannual pivot at $47.42 and a quarterly risky level at $49.74. XOM) ($94.03) set a multi-year high at $95.49 on July 23. My quarterly value level is $91.62 with a weekly pivot at $94.33 and annual risky level at $105.52. At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.