B, COLM, EHC, BIDU, FSLR, FIX, BDC, MATW, BUD, and DRQ.
| Comments |
|---|
| B Barnes Group Inc ($55.90) - Machinery and Tools - After a negative earnings release, Barnes Group broke a spread quadruple bottom at $57 and then proceeded to violate its bullish support line by falling further to $56 intraday. The stock will lose an attribute as a result and begin trading in a negative trend. Those long should look to exit positions here or on a reversal up into X's and avoid Barnes Group moving forward. |
| BDC Belden, Inc. ($63.70) - Electronics - BDC broke a triple bottom at $64 with the most recent action, marking a new 52 week low on the chart. This stock is an unacceptable 1 for 5’er that is trading well below the bearish resistance line. Additionally, this is the second consecutive sell signal on the chart, confirming that supply is in control. Monthly momentum has also been negative for three months, suggesting the potential for lower prices. Avoid. From here, final support lies at $61, the November 2017 bottom. Earnings are expected 5/2. |
| BIDU Baidu, Inc. (China) ADR ($252.21) - Internet - BIDU broke a double top at $244 after bouncing off its bullish support line. Those long may continue to hold. No new positions here until the stock can exceed overhead resistance in the lower $270s. Those long may implement a trend violation as a stop loss. |
| BUD Anheuser-Busch InBev NV (Belgium) ADR ($100.09) - Food Beverages/Soap - BUD broke a second consecutive double bottom on the chart at $100. This stock is an unacceptable 0 for 5’er that has been trading in a negative trend since October 2016. Weekly momentum has been negative for three weeks, suggesting the potential for lower prices. Overall, supply is in control and the technical picture is negative. Avoid. Final support lies at $99, the December 2016 low. |
| COLM Columbia Sportswear Company ($85.07) - Textiles/Apparel - COLM broke a double top at $84 and continued higher intraday to $87, a new high. This breakout is also notable because it completes a bullish catapult formation following the spread triple top break earlier in the month at $80. New positions are best served on a pullback from here since the stock trades at the top of its trading band. Support is at $79. |
| DRQ Dril-Quip ($41.28) - Oil Service - DRQ, a weak 1 for 5’er within the Oil Service sector, broke a triple bottom at $42 and fell lower to $39. This stock is trading in a negative trend and recently saw its weekly momentum flip negative. Additionally, DRQ has maintained a market RS sell signal for nearly four years. The technical weight of the evidence is negative. Avoid. |
| EHC Encompass Health Corp. ($61.95) - Healthcare - EHC broke a double top at $60, the stocks fifth consecutive buy signal and new high. The 3 for 5'er also ranks in the top third of the favored Healthcare sector matrix. New positions may be initiated on a pullback since the stock is approaching overbought territory. Support is offered at $56 and $53 from here. |
| FIX Comfort Systems U.S.A. ($43.43) - Building - Shares of FIX moved higher to $48 after a positive reaction to earnings on Friday, breaking a spread triple top at $45 along the way. This stock is a strong 4 for 5’er that has maintained a positive trend for nearly four years. Weekly momentum recently flipped positive, suggesting the potential for higher prices. Additionally, FIX has a price target of $69, adding to the positive technical picture. Okay to hold here or buy on a pullback as FIX is in overbought territory at this time. From here, significant support lies at $40, while the bullish support line lies at $38. |
| FSLR First Solar, Inc. ($79.15) - Semiconductors - FSLR broke a double top at $79 and continued higher intraday to $81, a new multi-year high and completion of a bullish catapult formation following the shakeout completed earlier this month at $75. New positions in the 4 for 5'er may be initiated at current levels or in the mid $70s from here. Support is visible at $72. |
| MATW Matthews International Corp ($48.03) - Business Products - MATW broke a double bottom at $48, completing a bearish catapult pattern on the chart. MATW does not have any positive trending or RS characteristics in its favor at this time, making it a weak 0 for 5’er. At this time, MATW ranks 95th out of 101 names in the Business Products sector, confirming its weakness. Avoid as supply is in control and the technical picture is weak. Final support lies at $45. |
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