Analyst commentary includes: ABEO, ACLS, BHLB, CHE, CSFL, KRA, REI, SNV, TSN, and ZION.
| Comments |
|---|
| ABEO Abeona Therapeutics Inc. ($16.60) - Healthcare - With the most recent action, ABEO broke a double top at $18 and moved higher to $18.50, a new 52 week high on the chart and the seventh consecutive buy signal on the chart. ABEO is within the favored Healthcare sector and is a strong 5 for 5’er trading well above the bullish support line. Okay to hold here or buy on a pullback. The first sign of trouble from here comes with a move to $13.50, a double bottom sell signal. |
| ACLS Axcelis Technoliges, Inc. ($26.95) - Semiconductors - ACLS broke a double top at $27 with the most recent action. This stock is a 5 for 5’er within the Semiconductors sector that just had a flip to positive monthly momentum. Overall, demand is in control. Okay to buy on a pullback. The first sign of trouble comes with a move to $18.50, a double bottom sell signal. |
| BHLB Berkshire Hills Bancorp, Inc. ($38.60) - Savings & Loans - After finding support at $33, BHLB found demand and broke a double top at $39. This is the fourth consecutive buy signal on the chart for this strong 4 for 5’er within the Savings & Loans sector. Weekly momentum has been positive for three weeks, suggesting the potential for further upside from here. The technical picture is positive. The first sign of trouble from here comes with a move to $32, a triple bottom sell signal. The bullish support line lies at $30. |
| CHE Chemed, Inc. ($201.34) - Household Goods - CHE returned to a buy signal after breaking a triple top at $200. The stock is a 5 for 5'er ranking in the top ten of the Household Goods sector matrix. New positions may be initiated on this breakout. Support is at $188. Earnings are expected on 10/26. |
| CSFL CenterState Bank Corp ($26.94) - Banks - CFSL broke a double top at $27. This stock is a 5 for 5’er within the Banks sector that has maintained an overall positive trend dating back to October 2013. Weekly momentum has been positive for three weeks, suggesting the potential for further upside from here. Additionally, CFSL ranks within the top quartile of the Banks sector RS matrix. Overall, the technical picture is positive. Okay to hold here or buy on a pullback. Support lies at $22. Note earnings 10/16. |
| KRA Kraton Corp ($40.53) - Chemicals - KRA broke through overhead resistance with a spread triple top break at $38. The stock continued higher to $40, a new 52 week high. KRA is a perfect 5 for 5’er as all of its trending and relative strength characteristics are positive here. Additionally, weekly momentum has been positive for two weeks and the price target is $54. Okay to hold here or buy on a pullback as KRA is trading over the top of the 10 week trading band. The first sign of trouble from here comes with a move to $31, a double bottom sell signal. Note earnings are slated for 10/24. |
| REI Ring Energy, Inc. ($14.54) - Oil - REI broke a spread quadruple top with Friday’s market action. This is a new 52 week high as well as the second consecutive buy signal on the chart. REI is a strong 4 for 5’er within the Oil sector that recently saw its monthly momentum flip positive. Additionally, the bullish price objective is $23.50, adding to the positive technical picture. Okay to initiate new positions here. The first sign of trouble comes with a move to $11.50, a double bottom sell signal as well as a long term trend violation. |
| SNV Synovus Financial Corp. ($46.25) - Banks - SNV broke a double top at $46 on Friday. This stock is a perfect 5 for 5’er within the favored Banks sector that has maintained a positive trend since February 2012. Weekly momentum has been positive for three weeks and the bullish price objective is $79. Okay to hold here or buy on a pullback. The first sell signal comes with a move to $40, a double bottom break. |
| TSN Tyson Foods, Inc. ($70.52) - Food Beverages/Soap - TSN broke a spread triple top at $68 and continued higher to $70 intraday. The stock took out resistance dating back to February this year on this move. The 3 for 5'er also flipped to positive weekly momentum with this breakout. Those interested in gaining exposure are best served on a pullback since it trades at the top of its 10-week trading band. Support is in the low $60's. |
| ZION Zions Bancorporation ($47.30) - Banks - ZION broke a double top at $47 on Friday, completing a bullish triangle pattern on the chart. ZION is trading in a positive trend and is a strong 5 for 5’er within the Banks sector. Weekly momentum just flipped positive and ZION has a price target of $97. Okay to buy or hold here as demand is in control. The first sign of trouble from here comes with a move to $41, a double bottom sell signal. |
