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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (24835)	2/10/1999 2:51:00 PM
From: Jenna	Respond to of 120523

Tricon Global Restaurants Inc. (YUM) Jumps to Another All-Time High by Mark W. Draud Sr. Investment Research Analyst "Stocks Breaking Out to New 52-Week Highs/Lows" to find stocks that are making new 52-week highs. There are VERY FEW today, due to the market's weakness in the last few days. A stock that stood out because of its impressive relative volume the last 2 days was Tricon Global Restaurants Inc. (YUM). This is a fast-food restaurant company which was spun off in late 1997 by PepsiCo Inc. (PEP). The three divisions are Taco Bell, Pizza Hut, and KFC (the former Kentucky Fried Chicken), which total nearly 30,000 restaurants. Its market capitalization is about $7.8 billion. Let's look at the graph for YUM. The stock made its 52-week low at 26-1/16 on February 18 of 1998. But except for brief slumps in August and October, it';s been on a steady climb since then. It broke above resistance to establish a nominal new high yesterday (February 9), on about 145% of average volume, and today YUM has jumped into new high territory again. At this writing (early afternoon) YUM is up 2-1/4 at 53-7/16 on over 760 thousand shares. It has been as high as 54. Today's volume is 146% of its average volume of 521 thousand shares. As I've pointed out many times before, you want to pay attention to stocks with technical breakouts (above resistance, gapping up, new highs, etc.) that are accompanied by great volume, because they are often followed by more upside price action. YUM has now gained a fat 105% since making its 52-week low last February! I first brought YUM to your attention in this column on October 19, when it was 42-7/16. It's moved up 25.9% since then, versus 14.9% for the S&P 500 Index. If the stock stays in this area, it will be another all-time closing high.