Analyst commentary includes: ALLE, BA, BBY, CSX, DLB, FSLR, HAE, HI, INTC, and OLLI.
| Comments |
|---|
| ALLE Allegion PLC ($86.50) - Protection Safety Equipment - ALLE broke a double top at $87, just eight days before expected earnings. This stock is a perfect 5 for 5’er that has maintained a market RS buy signal since September 2015. Additionally, it ranks 3rd out of 11 names in the Protection Safety Equipment. The price target is $111, suggesting the potential for higher prices. Okay to buy or hold here. Note overhead resistance between $88 - $89. Support lies at $83. |
| BA The Boeing Company ($341.50) - Aerospace Airline - BA broke a double top at $340. The stock has now given two consecutive buy signals after establishing support at the $312 level. The stock continues to maintain an overall positive technical picture so those interested in long exposure or putting money back to work in BA may initiate positions on this breakout. From here, we would use $308 as a stop. Note, earnings are expected on 4/25. |
| BBY Best Buy Co., Inc. ($75.40) - Retailing - BBY broke a double top at $74 and continued higher intraday to $75. The stock continues to offer all five positive technical attributes, just flipped to positive weekly momentum, and ranks in the top half of the Retailing sector matrix. New positions may be initiated on this breakout. Support is offered throughout the upper $60s. Those already long face resistance in the upper $70s. |
| CSX CSX Corporation ($60.29) - Transports/Non Air - CSX broke a double top at $59 and continued higher intraday to $60, which tests its previous high from January this year. The stock comes with a technical attribute score of 4, a bullish price objective of $77, and ranks near the top quartile of the Transports/Non Air sector matrix. New positions may be initiated on this breakout or a break to $61. The first sign of trouble comes with a move to $53, a double bottom break. |
| DLB Dolby Laboratories, Inc. ($69.03) - Electronics - DLB completed a bullish triangle pattern with a move to $69 on Wednesday, marking the third consecutive buy signal on the chart. This stock is a strong 4 for 5’er that has been trading in a positive trend for over two years. Additionally, the price target is $88, suggesting the potential for higher prices. DLB is a holding in the DWA Electronics Sector Portfolio as it is one of the stronger names within this sector. Demand is in control and the weight of the evidence is positive. Okay to buy or hold. From here, support lies at $62. Note overhead resistance at $74. |
| FSLR First Solar, Inc. ($78.15) - Semiconductors - FSLR broke a triple top at $75, which completes a shakeout pattern. The stock continued higher intraday to the $78 level, a new 52-week high. The stock ranks in the top ten of the Semiconductors sector matrix and offers four positive technical attributes. New positions are best served on a pullback from here. Support is offered at $68 and earnings are approaching on 4/26. |
| HAE Haemonetics Corp ($76.17) - Healthcare - HAE broke a double top at $76, which is the 7th consecutive buy signal dating back to August 2016. The 5 for 5'er ranks in the top decile of the Healthcare sector matrix and now trades at all-time highs. New positions are welcomed on this breakout or a pullback. Support is visible at $71 and $69 from here. Earnings are expected on 5/8. |
| HI Hillenbrand, Inc. ($48.85) - Retailing - HI broke a double top at $49, a new all-time high on the chart as well as the fifth consecutive buy signal. This stock is a perfect 5 for 5’er as all of its trending and RS characteristics are positive here. Weekly momentum just flipped positive, suggesting the potential for higher prices. Okay to initiate new positions here or on a pullback. Support lies at $45. Note earnings are slated for 5/1. |
| INTC Intel Corporation ($54.16) - Semiconductors - INTC broke a triple top at $54, which completes a shakeout pattern. The stock now trades at multi-year highs not seen since 2000. The 4 for 5'er ranks in the top quartile of the Semiconductors sector matrix and also comes with a yield north of 2%. New positions may be initiated on this breakout. Support is found in the upper $40's from here and earnings are expected on 4/26. |
| OLLI Ollies Bargain Outlet Holding Inc. ($63.60) - Retailing - OLLI broke a double top at $64, a new all-time high. This stock is a strong 4 for 5’er that has maintained a positive trend since November 2015. Additionally, the bullish price objective is $80, suggesting the potential for further upside. Monthly momentum has been positive for four months, adding to the positive technical picture. Okay to buy or hold here. Support lies at $60 and $55. |
