PerkinElmer, Inc. is a global technology company which provides products and systems to the telecom, medical,pharmaceutical, chemical, semiconductor and photographic markets. For the FY ended 12/31/00, sales increased 24% to $1.70B. Net income from continuing operations totaled $86.1M, up from $28.4M. Revenues reflect increased sales volumes. Net income also reflects the absence of a $18M asset impairment charge and a higher gain on dispositions.

May 17, 2001

PKI is a global company that provides products and systems to the telecom, pharmaceutical, chemical, semiconductor, medical, aerospace and photographic industries. Although PKI trades on the NYSE, the stock exhibits a trading pattern similar to many of the leading technology stocks over on the NASDAQ. PKI fell from its all-time high of $121.00 to a double-bottom low of $42.55 in early April. Although there is plenty of overhead resistance, PKI is developing some positive technicals. The 50-DMA, closing today at $58.41, appears to be starting to turn back up. PKI broke out of a nice base today by taking out the $68.00 resistance. The Money Flow is also improving nicely and also appears to be breaking out. We also like the fact that the RSI still has upside potential before the stock would be considered overbought. There are a couple of scenarios that may prove to be good entry points. A pullback tomorrow that bounces near $68.00 might be one entry opportunity. Momentum traders might be interested in going long if PKI can trade above $70.50 tomorrow accompanied by first hour trading volume exceeding 150,000 shares. A little patience might be necessary if PKI gaps up to resistance at $72.94 on the open. If this happens, the stock might pull back a little during the day and offer traders a more advantageous entry price than the opening print. PKI will be splitting its shares 2:1 on June 1st.

Picked on May 17th @ $70.12
Change since picked +0.00
Stop Loss @ $67.00