Analyst commentary includes: AME, ANSS, BAH, CHE, CVGW, EXR, FDEF, RBC, VRTX, and WTW.
| Comments |
|---|
| AME Ametek Inc ($76.38) - Electronics - AME reversed up into X's with the most recent action, reaching the action point on the shakeout pattern. AME is a 5 for 5'er and ranked in the top quartile of the Electronics Sector Matrix. Investors can consider AME on the reversal up. The first sign of trouble would occur at $72, a double bottom break. Longer term support would be violated at $71, a spread triple bottom sell signal from here. |
| ANSS Ansys Inc ($163.95) - Software - ANSS broke a double top at $162 and continued higher intraday to $164. The stock comes with a technical attribute score of 4 and ranks in the top half of the Software sector matrix. New positions may be initiated on this breakout. Support is at $154 and $148 from here. Earnings are expected on 5/1. |
| BAH Booz Allen Hamilton Holding ($40.90) - Business Products - BAH broke a double top at $41, a new all-time high on the chart. This stock is a 3 for 5’er within the Business Products sector that has been trading in a positive trend since July 2012. Weekly momentum just flipped positive, adding to the positive technical picture. Okay to buy or hold here. Support lies $36. |
| CHE Chemed, Inc. ($288.75) - Household Goods - CHE broke a double top at $288, which marks a new chart high. The 5 for 5'er ranks in the top decile of the Household Goods sector matrix and comes with a bullish price objective of $368. New positions are welcome on this breakout or on a pullback to the lower $280s. Support is at $268. Earnings are expected to be announced on Thursday (4/19). |
| CVGW Calavo Growers, Inc. ($98.25) - Food Beverages/Soap - CVGW broke a triple top at $98, which completes the shakeout pattern. Those waiting for the completion may initiate positions now in the 5 for 5'er. Support is offered in the lower 90s and upper 80s from here. |
| EXR Extra Space Storage Inc. ($89.16) - Real Estate - EXR broke a spread sextuple top at $89, taking out resistance dating back to November 2017. The stock offers 4 positive technical attributes, ranks in the top quartile of the Real Estate sector matrix, and comes with a bullish price objective of $103. New positions may be initiated at current levels and those long may implement a trend violation as a stop. Note earnings are expected on 5/1. |
| FDEF First Defiance Financial Corp. ($59.98) - Savings & Loans - FDEF broke a double top at $60, which completes a bullish catapult formation following the octuple top last month at $57. The 5 for 5'er just flipped to positive monthly momentum too, which suggests the potential for continued price appreciation from here. New positions may be initiated here or on a pullback. Those long may use a trend violation as a stop. |
| RBC Regal Beloit Corporation ($74.45) - Machinery and Tools - RBC just completed a bullish triangle at $74. The breakout also took RBC through the negative trendline, shifting the trend to positive for the first time since August 2017. RBC is still only rated a 1 for 5'er so we wait for improvement on a relative strength basis before considering RBC. |
| VRTX Vertex Pharmaceuticals Incorporated ($164.99) - Biomedics/Genetics - With the most recent action the trend chart of VRTX has returned to a near term buy signal with the breakout at $164, which comes after finding support in the $154 area. VRTX continues to boast a strong 4 for 5 technical attribute suggesting that VRTX has a good trend and relative strength picture. |
| WTW Weight Watchers International, Inc. ($67.55) - Retailing - After correction off its highs of $77, the trend chart of WTW has returned to a near term buy signal at $66. The overall trend of WTW remains positive here and with 3 positive technical attributes the weight of the evidence is positive, as well. Okay to initiate new positions here with a trading stop at $57, which would violate the March correction lows. |
