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| SBL - Symbol Technologies | Week Ended: 3/17/01 |
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| Price |
47.30 |
P/E Ratio |
NA |
52 Week High |
67.88 |
| Last Week |
+ 0.41 |
Earnings Date |
02/27/01 |
52 Week Low |
25.63 |
| Picked At |
49.65 |
Date Picked |
3/13/01 |
Sector |
Services |
| Activity |
| Current |
47.30 |
Open |
48.25 |
Change |
-0.95 |
| Low |
47.04 |
High |
49.20 |
Volume |
776,300 |
ZACKS | NEWS | PROFILE | HISTORICAL PRICES | OPTIONS | D-CHART |
| Company Description Symbol Technologies, Inc. is engaged in the design, manufacture marketing and servicing of scanner integrated mobile and wireless information management systems. For the fiscal year ended 12/31/00, revenues rose 27% to $1.45B.Net loss totaled $68.9M vs. an income of $116.4M. Revenues reflect increased sales of scanner products and scanner integrated application specific mobile computer systems. Earnings suffered from $273.5M in one-time charges.
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| Play Description March 13, 2001
Symbol Technologies' scanning products have become indispensable for a myriad number of industries, ranging from heavy manufacturing to retail package delivery. A 3:2 split was announced on February 27th when the stock was trading at $41.82. The split will be made payable on April 16th. SBL might resume its split run, now that the market appears to have put in a short-term bottom. The stock initially took off following the split announcement and peaked at $56.00 a few days later. After a subsequent pullback, SBL appears poised to move higher. The MACD survived a test yesterday and has now issued a buy signal. The RSI has plenty of room to support a rally before indicating an overbought condition. What's more, today's low print of $45.75 successfully tested trendline support. Any positive move tomorrow, accompanied by first hour trading volume over 200,000 shares, may provide possible entry opportunities.
Picked on March 13th @ $49.65
Change since picked +0.00
Stop Loss @ $45.25
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| Update March 15, 2001
SBL rallied straight to $56.00 after announcing a 3:2 split on February 27th. The subsequent pullback to support provided by the 40-DMA of $45.69 has given traders the opportunity to try and profit from another split run. It looks like the second run started today. The split is payable on April 16th. A move above today's high of $50.25, accompanied by first hour trading volume over 300,000, may prove to be another good entry point. Although the MACD remains negative, a positive move tomorrow could cause this indicator to issue a buy signal. We also like the fact that the RSI is telling us that there is plenty of room for the stock to rally before it becomes overbought.
Picked on March 13th @ $49.65
Change since picked -1.40
Stop Loss @ $45.25
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