C&D Basing, Strong EPR
C&D Technologies Tuesday appeared
to be completing a cup-shaped base as the company reported robust earnings
growth in its most recent fiscal quarter.
C&D Technologies
(
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PowerRating)
reported July 31 second-quarter earnings of 49 cents a share vs. 27 cents a year
ago and beating estimates of 44 cents, according to First Call/Thomson
Financial. The Blue Bell, Pa.-based company makes power supplies used in
telecom equipment, office electronics such as copiers and electric industrial
vehicles.
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Prior to the Q2 results, C&D held
an 83 Earnings Performance Ranking,
TradingMarkets’ new earnings growth scoring system. An 83 EPR means C&D
delivered superior profit growth over 83% of all companies tracked in
TradingMarkets’ StockScanner. You now can screen for stocks fitting your
earnings growth parameters using the EPR field in the StockScanner.
The stock fell fractionally Tuesday on increased volume over the prior session. But it appears to be basing
nicely. The bottom is reasonably rounded rather than V-shaped. Shares have since
formed the right-side recovery. The stock has recently overcome its mid level of
46 3/8 and 50-day moving average, suggesting a reduced risk of selling from
overhead supply is abating.
If anything is lacking, it’s volume on
recovery. As you can see down the left side of the pattern, the stock
experienced several sessions of price declines on heavy volume. It has yet to
exhibit gains on similar volume.
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