Analyst commentary. Includes: AFG, CTAS, AA, ADS, BGS, IR, PAYC, AZO, SFS, and TGT.
| Comments |
|---|
| AA Alcoa Inc. ($30.05) - Metals Non Ferrous - AA broke a triple bottom at $30. The stock is still a 4 for 5'er and has further support at $29 and $27 so investors may hold here however we do not advise any new positions at this time. |
| ADS Alliance Data Systems Corporation ($252.58) - Business Products - After developing support at $236, keeping its positive trend in tact, ADS broke a double top at $252. The stock offers four positive technical attributes and ranks in the top half of the business products sector matrix. New positions may be initiated here while a move to $232 would constitute a stop loss. |
| AFG American Financial Group Inc ($102.09) - Insurance - AFG broke a double top at $102, a new all-time high. This stock is a perfect 5 for 5’er that has been trading in a positive trend since May 2009. Weekly momentum just flipped positive, suggesting the potential for further upside from here. Okay to hold here or buy on a pullback as the stock is in overbought territory here. The first sell signal from here comes with a move to $95, a double bottom sell signal. |
| AZO Autozone, Inc. ($593.65) - Autos and Parts - AZO broke a double bottom at $592 on Friday. This stock is a weak 2 for 5’er within the Autos and Parts sector that ranks 52nd out of 53 names in the sector RS matrix. Additionally, weekly momentum has been negative for four weeks, suggesting the potential for further downside from here. The bearish price objective is $564, adding to the negative technical picture. Avoid as supply is in control. The final level of support is at $576 while resistance is at $620. |
| BGS B&G Foods, Inc. ($37.63) - Food Beverages/Soap - BGS broke a double bottom at $38, which completes a bearish catapult formation following the spread triple bottom break in March at $39. The stock still offers three attributes and comes with an impressive yield of almost 5%. Traders may exit positions on this breakdown. Investors may do the same or look to $32 for further support. No new positions here. |
| CTAS Cintas Corporation ($129.88) - Textiles/Apparel - With Friday’s intraday action, CTAS broke a double top at $130. CTAS is trading well above the bullish support line and is a strong 5 for 5’er within the favored Textiles/Apparel sector. In fact, this stock ranks in the top quartile of the sector RS matrix. Okay to hold here or buy on a pullback as CTAS is slightly overbought here. The first sign of trouble comes with a move to $118, a double bottom sell signal. |
| IR Ingersoll-Rand PLC ($91.90) - Machinery and Tools - IR gave its fifth consecutive buy signal by breaking a double top at $91 and continuing higher to $92 intraday. This breakout is notable since it marks a new all-time high. The 5 for 5'er may be considered for new positions here or on a pullback. The first sign of trouble comes with a move to $86, a double bottom break. |
| PAYC Paycom Software Inc ($69.48) - Software - PAYC rallied to $69, its previous high, by breaking a double top. This breakout also completes a bullish triangle pattern. The stock ranks within the top five of the favored Software sector matrix and boasts 5 for 5'er status. In addition, it comes with a bullish price objective of $86. New positions may be initiated here. Support is offered in the mid $60's. |
| SFS Smart & Final Stores, Inc. ($9.33) - Retailing - With the most recent action, SFS broke a double bottom at $10.50 and fell further to $9.50, a new all-time low on the chart. This stock is trading in a negative trend and is an unacceptable 1 for 5’er within the unfavored Retailing sector. Weekly and monthly momentum just flipped negative, suggesting the potential for further downside from here. Avoid as supply is in control and there is no remaining support on the chart. From here, resistance lies at $13.50, the bearish resistance line. |
| TGT Target Corporation ($52.21) - Retailing - After the AMZN/WFM acquisition was announced, shares of TGT slid to a new 52 week low of $49, breaking a double bottom at $53 on the way. This stock is an unacceptable 0 for 5’er as it is trading in a negative trend and is showing significant weakness relative to both the market and its peers in the Retailing group. Supply is in control and the weight of the evidence is negative. Avoid. Note resistance at $58. |
