AIMT, BBIO, GOOGL, INSW, MPC, SHAK, SHOP, THO, TSCO, & XLRN.
| AIMT Aimmune Therapeutics Inc ($29.96) - Drugs - Shares of AIMT moved higher Monday to break a double top at $30, marking its fourth consecutive buy signal and a new 52-week high. This 4 for 5'er moved to a positive trend in August and ranks 6th out of 52 names in the drugs sector RS matrix. The overall weight of the evidence for this stock continues to strengthen. Those looking to add exposure may consider AIMT at current levels, with initial support at $26 and further support at the bullish support line, which is currently found at $24. |
| BBIO BridgeBio Pharma, Inc. ($36.04) - Biomedics/Genetics - BridgeBio shares broke a double top at $36 during today's action, marking a fourth consecutive buy signal, before advancing further to a new all-time high of $38. BBIO is a 3 for 5'er, which is the highest possible TA rating given limited relative strength chart data. Additionally, the stock is trading well-above its recently-established bullish support line and has witnessed a recent flip to positive monthly momentum, suggesting the potential for further gains. It should be noted that today's advance puts the stock in heavily overbought territory. Those considering long exposure may be best served to wait for a pullback to the mid $30s. Initial support is offered at $29. |
| GOOGL Alphabet Inc. Class A ($1,345.40) - Internet - GOOGL broke a double top at $1344 on Monday, marking the fourth consecutive buy signal on the chart. GOOGL is a 4 for 5’er within the internet sector that has been trading in a positive trend since July. Demand is in control and the technical picture is positive however GOOGL is nearing overbought territory. From here, initial support is offered at $1280. |
| INSW International Seaways Inc ($27.59) - Oil Service - International Seaways shares broke a double top at $28 during today's action, marking a second consecutive buy signal and a new all-time high. INSW is a strong 5 for 5'er trading well above its recently established bullish support line. Additionally, the stock moved to a market RS buy signal since October, confirming long-term strength against the broader market. Okay to add long exposure here with initial support offered at $24. |
| MPC Marathon Petroleum Corp. ($58.80) - Oil - Marathon Petroleum shares broke a double bottom at $59 today, marking a second consecutive sell signal. While the weight of the evidence remains positive for this 5 for 5'er, recent consecutive sell signals suggest that supply is in control in the near-term. No new positions at this time. Those long find support at the current price level of $59, with subsequent support offered at the bullish support line of $54. MPC returns to a buy signal with adouble top break at $64. |
| SHAK Shake Shack Inc ($57.62) - Restaurants - SHAK fell Monday to break a double bottom at $58, marking its eighth consecutive sell signal. This 2 for 5'er moved to a negative trend in November and ranks 23rd out of 28 names in the restaurants sector RS matrix. The technical picture for SHAK continues to weaken. Long exposure should be avoided, while those looking for short ideas should note that the stock is in heavily oversold territory and currently at support from April of this year. Initial overhead resistance can be found at $63. |
| SHOP Shopify Inc ($376.80) - Internet - Shares of SHOP reversed up into a column of Xs Monday and broke a double top at $380, marking the stock's fourth consecutive buy signal. This 5 for 5'er moved to a positive trend in November and ranks in the top half of the internet sector RS matrix. Weekly momentum also recently flipped positive, adding to the positive technical picture. The stock has also been on an RS buy signal against the market since late-2016. Those looking to add exposure may consider the stock at current levels, or upon a pullback/normalization of the trading band as SHOP is nearing overbought territory. Initial support can be found at $364 with further support at $312. Further overhead resistance may come initially at $392 from September of this year, and at the all-time chart high of $408 seen this past August. |
| THO Thor Industries, Inc. ($65.22) - Leisure - THO continued higher Monday morning following their earnings release to complete a shakeout pattern with a triple top break at $69, before pulling back towards normalized distribution levels with intraday movement to $65 in afternoon trading. This 3 for 5'er moved to a positive trend in September and ranks 4th out of 51 names in the favored leisure sector RS matrix. The stock also carries a yield of 2.45%. Initial support can be found at $62, with further support at $52 and $51, the current location of the bullish support line. Further overhead resistance may be found at $71 from April of this year. |
| TSCO Tractor Supply Company ($98.23) - Retailing - TSCO moved higher Monday to break a quadruple top at $99, which also moved the stock back to a positive trend and gave it 4 out of the 5 possible technical attributes. The stock has also been on an RS buy signal against the market since mid-2018 and carries a yield of 1.42%. The weight of the evidence continues to improve. Initial support can be found at $94 with further support at $92, $91, and $89. The potential for further overhead resistance may be found initially at $106 from September of this year. |
| XLRN Acceleron Pharma, Inc. ($50.25) - Drugs - XLRN reversed up into a column of Xs Monday and broke a double top at $50, marking its third consecutive buy signal. This 5 for 5'er moved to a positive trend in November and ranks in the top third of the drugs sector RS matrix. The stock has also been on an RS buy signal against the market since mid-2017. Exposure to XLRN may be considered at current levels, with initial support at $46. Further support can be found at $42, which is the current location of the bullish support line, and $41. |
