BHVN, CDNA, CHE, EEFT, EXP, FATE, FICO, LEN, SEDG, SMAR, & VRTU
| BHVN Biohaven Pharmaceutical Holding Company Ltd. ($64.06) - Drugs - Biohaven returned to a buy signal with a triple top break at $65. The advance marks a new all-time high for the 5 for 5’er that has been in a positive trend since May 2018. In addition, the stock maintained a market RS buy signal since June 2018, confirming its long-term strength relative to the broader market. Okay to buy or hold here as demand is in control. Note initial support is offered at $61, with subsequent support at $56. |
| CDNA CareDx Inc. ($34.63) - Healthcare - CDNA broke a double top at $35, marking the second consecutive buy signal on the chart. This 5 for 5'er has maintained both its bullish support line and market RS buy signal since 2017. The recent flip to positive weekly momentum and the bullish price objective of $51 indicate the potential for further price appreciation from here. Initial support can be found at $31, with the potential for overhead resistance coming at $39. |
| CHE Chemed, Inc. ($334.87) - Household Goods - CHE broke a spread triple top at $336 on Thursday and is now trading at new all-time highs. CHE, a 5 for 5’er, ranks in the top quartile of the favored household goods sector and continues to trade well above its bullish support line that has been in place since late 2013. In addition, both weekly and monthly momentum recently flipped positive, adding to the positive technical picture. Demand is in control and the technical picture is strong. Okay to buy or hold here. Initial support is offered at $316, the April low. |
| EEFT Euronet Services Inc. ($153.65) - Finance - EEFT reversed back into Xs Thursday and broke a double top at $154, marking a new all-time high as well as the fourth consecutive buy signal. This 5 for 5'er ranks 4th out of 82 names in the Finance sector RS matrix and moved back to a positive trend in January. The technical picture for EEFT is strong, however, those looking to add exposure would be best served to wait for a pullback as the stock is entering overbought territory. Initial support comes at $146 with further support at $140 and $136. |
| EXP Eagle Materials, Inc. ($90.92) - Building - EXP reversed back up into Xs and broke a double top at $93 following their earnings release Thursday morning, marking the fourth consecutive buy signal on the chart. This 4 for 5'er moved to a positive trend in March and ranks in the upper quartile of names in the Building sector RS matrix. EXP has also maintained a market RS buy signal since early 2012, confirming the stock’s long-term strength versus the broader market. Those looking to add exposure may consider the stock at current levels, with initial support at $87 and further support at $82. |
| FATE Fate Therapeutics, Inc, ($19.62) - Healthcare - FATE moved higher today and broke a double top at $18.50 before ultimately moving through multiple levels of resistance to hit an all-time high at $20. Today’s move marks a positive trend reversal, promoting FATE to a 4 for 5’er. In addition, FATE continues to show long-term strength relative to both the market and its peers. Weekly and monthly momentum recently flipped positive, suggesting the potential for further gains. Demand is in control. Note with today’s move, FATE is nearing overbought territory. Initial support is found at $16. |
| FICO Fair, Isaac & Company, Incorporated ($294.21) - Software - FICO broke a double top at $292 before moving higher to $296 on Thursday, marking a new all-time high as well as the third consecutive buy signal. This stock ranks within the top quartile of the favored software sector matrix and has maintained its market RS buy signal since August of 2009. In addition, the bullish price target of $494 suggests the potential for higher prices. At this time, FICO is nearing overbought territory. Note initial support is offered at $276. |
| LEN Lennar Corporation ($53.87) - Building - Shares of LEN moved higher Thursday to break a double top at $54, marking its fourth consecutive buy signal of 2019. This 3 for 5'er moved to a positive trend in February and ranks in the top third of the Building sector RS matrix. The bullish price objective of $66 suggests the potential for further upside from here. LEN has initial support at $49 and further support at $45. |
| SEDG Solaredge Technologies ($55.51) - Machinery and Tools - SEDG shares reversed to a column of Xs today, advancing to $55 to break a double top, marking a second consecutive buy signal. Solaredge, a perfect 5 for 5’er, flipped to a positive trend in April, and ranks in the top decile of the Machinery and Tools sector matrix. It has been on a market RS buy signal since February 2018, confirming long-term strength to the broader market. From here, support resides at $50, while initial overhead resistance is found at $58. Prospective longs may be best served to wait for a pullback before adding exposure as SEDG is heavily overbought at current levels. |
| SMAR Smartsheet, Inc. Class A ($42.52) - Software - After a period of consolidation on the chart, SMAR completed a bullish triangle pattern with a double top break at $43. SMAR, a 4 for 5'er within the favored software sector, moved to a positive trend in January and gave a RS buy signal against the market in February. The technical picture for SMAR is improving. Initial support can be found at $39 and further support at $37 and $36. Overhead resistance can be found at the all-time high of $49 from March of this year. |
| VRTU Virtusa Corporation ($42.61) - Computers - VRTU broke a triple bottom at $51, returning to a sell signal before printing a long column of Os to $42. The decline follows negative earnings news for the stock and results in a trend violation, demoting VRTU to a 4 for 5’er. We would caution against adding new exposure at this time and those with open positions may wish to reevaluate. From here, the next level of support is found at $38. Today’s action puts VRTU in heavily oversold territory. |
