Analyst commentary includes: EGHT, FIVN, HFC, LNG, MED, MMSI, MNST, PANW, THG, and TMUS.
| Comments |
|---|
| EGHT 8*8, Inc. ($21.28) - Software - EGHT broke a double top at $21, which is a new high. The completed a big base breakout at the start of the year and demand is still present at this stage. The 4 for 5'er is part of the favored Software sector and it just flipped to positive weekly momentum. New positions may be initiated here or on a pullback. Support is at $18. Earnings are expected on 5/24. |
| FIVN Five9, Inc. (Five9) ($32.93) - Software - FIVN broke a triple top at $33 and continued higher intraday to $34. This breakout is notable as it completes a shakeout pattern and marks a new high. The 5 for 5'er continues to be a positive diverger from the rest of the broad market. New positions may be initiated in the lower $30s and support is visible at $27. |
| HFC HollyFrontier Corporation ($63.78) - Oil - HFC broke a double top at $63 and continued higher to $64 intraday, a new all-time high following a positive earnings release. The 5 for 5'er ranks 3rd out of 90 stocks in the favored Oil sector and comes with a bullish price objective of $101. New positions are best served on a pullback from here as the stock trades in heavily overbought territory. The first sign of trouble comes with a move to $58, a double bottom break. |
| LNG Cheniere Energy, Inc. ($59.71) - Oil - LNG broke a double top at $60, which matches its peak from January. The 5 for 5'er ranks 19th out of 90 stocks in the favored Oil sector matrix. New positions may be initiated here or upon a move to $61. Those long may implement a trend violation as a stop. Note, earnings are expected on 5/4. |
| MED Medifast, Inc. ($99.26) - Food Beverages/Soap - MEDI broke a double bottom at $96. This is the first sell signal in a strong uptrend so we will give the stock the benefit of the doubt. Those long may continue to hold here and look to support in the upper $80's and lower $90's. No new positions are advised at this time. Earnings are expected on 5/3. |
| MMSI Merit Medical Systems Inc ($49.28) - Healthcare - MMSI broke a double top at $50, the stocks 3rd consecutive buy signal and new multi-year high. It comes with a technical attributes score of 5 and a bullish price objective of $61 too. New positions may be initiated at current levels. Support is offered throughout the lower $40s. |
| MNST Monster Beverage Corp. ($53.45) - Food Beverages/Soap - MNST broke a double bottom at $54 following a negative earnings release, which not only violates the bullish support line but also completes a bearish triangle pattern. Those long should exit positions here and avoid MNST moving forward as supply has taken control. |
| PANW Palo Alto Networks Inc ($198.54) - Software - PANW broke a triple top at $198, reaching a new multi-year high. The 4 for 5'er stock ranks in the top 20% of the favored Software sector matrix and recently returned to a market RS buy signal for the first time in more than a year. New exposure can be considered here with three levels of support offered between $176 and $188. Earnings are expected on 5/29/18. |
| THG Hanover Insurance Group Inc ($112.22) - Insurance - After a negative earnings release, THG broke a double bottom at $112 after forming a double top at $120, which sets up a potential shakeout pattern. Those long may continue to hold here and look to support at $106. Those interested in playing the shakeout may wait for a three box reversal for the pattern to initiate before considering or wait for the pattern to complete with a triple top break at $122. The stock is otherwise technically strong with three positive attributes and a matrix ranking in the top quartile of the Insurance sector. |
| TMUS T-Mobile US Inc. ($57.11) - Telephone - TMUS broke a double bottom at $58 in Wednesday's trading and will now fall to a 2 for 5'er. Any with long exposure should take this opportunity to evaluate this position. A move to $57 would violate another level of support; additional support lies at $55. |
