Analyst commentary. Includes: ENB, LMT, LBRDA, GOL, EFSC, SOHU, EW, GD, YY, and OSTK.
| Comments |
|---|
| EFSC Enterprise Financial ($50.65) - Banks - EFSC broke a triple top at $50, which marks a new all-time high. The stock just flipped to positive weekly momentum and boasts 5 for 5'er status so those interested may initiate positions on this breakout. Support is offered in the mid and lower $40's from here. |
| ENB Enbridge Inc. ($29.27) - Gas Utilities - ENB broke a double bottom at $29 with the most recent action, marking the fourth consecutive sell signal on the chart. This stock is now trading at new 52 week lows and is a weak 0 for 5’er within the unfavored Gas Utilities sector. Avoid as supply is in control and the technical picture is weak. |
| EW Edwards Lifesciences Corporation ($129.52) - Healthcare - EW broke a triple bottom at $132 and continued lower intraday to $124 before rebounding to roughly $129 by market close. Traders may exit positions here, while investors may look to a trend violation as a stop since the weight of technical evidence is still strong otherwise. No new positions here. |
| GD General Dynamics Corporation ($214.53) - Aerospace Airline - GD broke a double bottom at $212 and continued lower intraday to $208 following its earnings release. This is the first sell signal in a strong uptrend so we will give the stock the benefit of the doubt here. Those long may continue to hold the 4 for 5'er. No new positions are advised at this time. Those long may look to further support at $204 and $196. |
| GOL Gol Intelligent Airlines Inc. (Brazil) ADR ($10.97) - Aerospace Airline - GOL broke a double bottom at $11.50 and continued lower intraday to $11. The stock continues to offer all five positive technical attributes and ranks in the top decile of the Aerospace Airline sector matrix so those long may continue to hold here. Traders may sell on this breakdown or a subsequent reversal back into X's from here. No new positions at this time. The next level of support is visible at $10. |
| LBRDA Liberty Broadband Corp ($81.11) - Media - LBRDA broke a double bottom at $80, completing a bearish catapult on the chart. This move also broke a spread quintuple bottom, taking out support dating back to May 2017. This stock is a weak 0 for 5’er as it does not have any positive trending or RS characteristics in its favor at this time. Additionally, the price objective is $68, adding to the negative technical picture. Avoid. |
| LMT Lockheed Martin Corporation ($329.50) - Aerospace Airline - LMT broke a spread quadruple bottom at $324, taking out support from the February pullback. The stock is still trading sideways in a range bound pattern so those long may trim here if wanted, but we would wait for another sell signal or an indication that supply is getting stronger before removing all exposure. The stock continues to offer 4 positive technical attributes and ranks in the top half of the Aerospace Airline sector matrix at this time. No new positions here. |
| OSTK Overstock.Com, Inc. ($34.45) - Internet - OSTK broke a double bottom at $35 and moved lower to $34 with Wednesday’s trading session. This stock is a weak 0 for 5’er within the Internet sector that does not have any positive trending or RS characteristics in its favor at this time. Monthly momentum has been negative for two months, suggesting the potential for lower prices. Avoid. From here, earnings are slated for 5/2. |
| SOHU Sohu.com Inc. ($27.28) - Internet - After a negative reaction to earnings, SOHU broke a double bottom at $29 and moved lower to $27, marking a new multi-year low on the chart. This is the fourth consecutive sell signal on the chart for this 0 for 5’er within the Internet sector. Monthly momentum has been negative for 5 months, suggesting the potential for lower prices. Avoid as there are stronger names in this space. |
| YY YY Inc ($91.89) - Software - YY broke a triple bottom at $90 and moved lower to $89 with Wednesday’s market action. This stock is a weak 2 for 5’er that moved into a negative trend in March of this year. Monthly momentum has been negative for two months, suggesting the potential for lower prices. This recent break marks the sixth consecutive sell signal on the chart since March. Avoid as supply is in control and the technical picture is deteriorating. Note earnings are expected 5/8. |
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