Analyst observations. Includes: AGU, ALNY, ATR, AZO, BFR, CAH, HAR, FSLR, H, ELLI, CEMP, MTW, SLB, and BLUE.
| Comments |
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| AGU Agrium Inc. ($100.39) - Chemicals - AGU continues with its bearish pattern of lower tops and lower bottoms completing its second consecutive sell signal with a move to $100. This is the lowest level the stock has seen in about 6 months. While it would take a decline of about another 6 points or so from here to violate its positive trend line, current investors may want to look to take some sort of defensive action here, as their is definitely evidence of strengthening supply for the stock here. |
| ALNY Alnylam Pharmaceuticals Inc. ($127.96) - Biomedics/Genetics - broke a double bottom at 128.00. ALNY sold off its June high at 140 and was able to hold a double bottom and its bullish support line at 114. Since, it has rallied to 136 where it formed a double top and now has sold off and broke a double bottom at 124. No new positions here and if long would watch to see if it can hold the bullish support line at 120.00. A move to 118 violates the support line and would consider using that as a stop loss point. Next resistance on the chart is at 136.00. The stock is a 5 for 5'er. |
| ATR Aptargroup Incorporated ($61.53) - Household Goods - broke a triple bottom at 61.00. The stock is in a positive trend which is its only positive attribute. The next support on this chart is at 59.00, the bullish support line. The Relative Strength readings versus the Market and Peers are not positive and would not look to trade ATR. If long a stop loss can be kept here or a move to 58, a violation of the bullish support line. |
| AZO Autozone, Inc. ($672.53) - Autos and Parts - AXN has been range bound between support at $664 and resistance at $684 for the last several weeks. With the most recent action, the stock returned to a column of O's completing a sell signal at $668, yet still above the support at $664. With 4 positive attributes, the weight of the evidence is still on the positive side for AZO, however a move below $660 would be considered a substantial violation of support. Those long will want to keep their eye on this level moving forward. |
| BFR Banco Frances Del Rio De LA Plata S.A (Argentina) ADR ($15.05) - Banks - broke a triple bottom at 15.00. The stock is now on a sell signal and this move also violates the bullish support line. This will bring the technical attributes below 3 and if long would consider taking this signal and moving to the sidelines. Next support is not until 12. |
| BLUE Bluebird Bio ($159.00) - Healthcare - broke a double bottom at 156.00. This is the fourth consecutive sell signal and would continue to avoid BLUE. There is some support at 156 with the next support on the chart at 152.00. Continue to avoid. |
| CAH Cardinal Health, Inc. ($82.31) - Drugs - broke a triple bottom at 83.00. This is the second consecutive sell signal and it follows lower tops. Although the stock is a 4 for 5'er, supply is in control of this chart and would avoid CAH here. If long consider moving to the sidelines. The stock has some support down to 79 but under that, the next support is the bullish support line at 72.00. |
| CEMP Cempra Inc ($42.96) - Healthcare - With the recent market action, CEMP broke a double bottom at $42 after forming a double top at $46. As a result of this trading action, CEMP has formed a potential shakeout. If this stock reverses from here, it would reach the action point on the shakeout and the pattern would be completed with a triple top break at $47. Okay to consider this 5 for 5'er on a reversal up into Xs. |
| ELLI Ellie Mae Inc ($72.18) - Finance - broke a double bottom at 71.00. This sell signal comes after the stock reached a new chart high at 76 and formed a double top. This sell signal sets up a potential shakeout formation on the next reversal to the upside. Traders looking to play ELLI here should wait for the reversal up. If traded use a stop loss at the next double bottom break which would abort the shakeout. If already long consider using a stop loss of 67, a spread double bottom break. |
| FSLR First Solar, Inc. ($42.39) - Semiconductors - During Monday’s trading session, FSLR completed a double bottom sell signal at $42, the third consecutive sell signal on the chart. FSLR is an unacceptable 0 for 5’er as it does not have any positive trending or relative strength characteristics here. Additionally, this stock resides in the bottom decile of the Semiconductors sector RS matrix, making it one of the weakest names within this favored sector. Avoid as the overall weight of the evidence is negative here. The next level of support can be found at $40. |
| H Hyatt Hotels Corp. ($55.61) - Leisure - broke a quadruple bottom at 55.00. This move also violated the bullish support line changing the trend to negative and causing the stock to lose another positive technical attribute. H has also made lower tops showing that demand is weakening. There is some support at 55. No new positions here and if long would use a stop loss of 54, a spread double bottom break. |
| HAR Harman International Inds Inc ($103.89) - Household Goods - broke a double bottom at 104. The stock made another lower top at 112 and this is the fourth consecutive sell signal. It is now reaching its bullish support line which is at 100.00. Continue to stay on the sidelines as HAR tests its support line. A move to 99 will violate the bullish support line with the next area of support at 95.00. |
| MTW The Manitowoc Company, Inc. ($16.50) - Machinery and Tools - MTW is trading in an overall negative trend and with the most recent action, completed a double bottom sell signal at $17, falling lower to $16, a new 52 week low. MTW is an unacceptable 0 for 5’er within the unfavored Machinery and Tools sector. This stock has seen four weeks of negative weekly momentum, suggesting the potential for lower prices from here over the next 3-4 weeks. Avoid as the weight of the evidence is negative. Note that earnings are slated for 7/29/2015. |
| SLB Schlumberger Limited ($82.04) - Oil Service - SLB completed a double bottom sell signal at $82, the third consecutive sell signal on the chart for this 1 for 5’er within the unfavored Oil Service sector. The next level of support on the chart can be found at $80, followed by additional support at $76. Avoid as the overall weight of the evidence is negative here. |
