AEO, CP, EVR, INTU, MIDD, MNST, OKE, SBNY, TEAM & WELL.
| AEO American Eagle Outfitters, Inc. ($14.09) - Retailing - American Eagle shares broke a double bottom in response to earnings today, returning the stock to a sell signal. Today's break also marks a negative trend reversal for the stock, demoting it to a 1 for 5'er. AEO also ranks 73rd of 83 names included in the retailing sector RS matrix. Supply is in control and long exposure should be avoided. Short sellers should note that AEO tests support at $14 and carries a yield of 3.91%. |
| CP Canadian Pacific Railway Limited ($246.92) - Transports/Non Air - Canadian Pacific Railway shares broke a spread triple top with today's advance to $248, marking a second consecutive buy signal and a new all-time high. CP is a strong 4 for 5'er trading well above its bullish support line that was established in February of 2019. Additionally, the stock has been on a market RS buy signal since 2012 and ranks 14th of 45 names included in the favored transports/non air sector RS matrix. Demand is in control and long exposure may be added here or on a pullback, as CP is approaching overbought levels. Initial support is offered at $232. |
| EVR Evercore Inc. ($73.91) - Finance - Evercore shares returned to a sell signal with today's double bottom break at $74. EVR is a weak 2 for 5'er that moved to a negative trend in October of 2019 and ranks 74th of 79 names included in the finance sector RS matrix. The weight of the evidence is negative and long exposure should be avoided. Short sellers should note that EVR carries a yield of 3.14%. |
| INTU Intuit Inc. ($249.71) - Software - Intuit shares broke a double bottom at $248 during today's session, marking a third consecutive sell signal. Although the weight of the overall evidence is positive for this 5 for 5'er, multiple consecutive sell signals suggest that supply is in control in the near-term. No new positions at this time. For those following the stock, we maintain our stop at $236, a potential spread quadruple bottom break on INTU's default chart. |
| MIDD The Middleby Corporation ($108.62) - Household Goods - The Middleby Corporation shares continued lower today, breaking a double bottom at $108 to return to a sell signal. This 0 for 5'er moved to a negative trend in August and has been on a market RS sell signal since May of 2018. Additionally, the stock ranks 27th of 35 names included in the household goods sector RS matrix. Supply is in control. Avoid long exposure. |
| MNST Monster Beverage Corp. ($62.15) - Food Beverages/Soap - Monster Beverage continued higher today, completing a spread triple top break at $62 to mark a second consecutive buy signal. This 4 for 5'er continues to display absolute strength and relative strength in the near-term. Okay to add long exposure here or on a pullback to initial support at $58. |
| OKE ONEOK, Inc. ($72.42) - Gas Utilities - ONEOK broke a double top at $73 during today's action, marking a second consecutive buy signal. This strong 5 for 5'er ranks first of 23 names included in the gas utilities sector RS matrix. Additionally, the stock has traded in a positive trend since January of 2019 and has been on a market RS buy signal since March of 2016. Demand is in control and long exposure may be added here. Note that OKE finds initial support at $69 and subsequent support at $68. The stock also carries a yield of 5.06%. |
| SBNY Signature Bank (the Bank) ($130.84) - Banks - Signature Bank shares reversed up today to break a spread quadruple top at $130 and mark a third consecutive buy signal. SBNY is a 4 for 5'er that returned to a positive trend in October. Okay to add here on the breakout as demand is in control. Note that Initial support is offered at $122 and that SBNY carries a yield of 1.71%. |
| TEAM Atlassian Corp. PLC ($116.85) - Software - Atlassian Corp shares reversed down today to break a double bottom at $116 before continuing lower to $114. Today's break returns the stock to a sell signal and marks a negative trend reversal, demoting TEAM to a 2 for 5'er. Additionally, the stock ranks 91st of 116 names included in the software sector RS matrix. The technical picture is negative. Avoid long exposure. |
| WELL Welltower Inc. ($81.43) - Real Estate - Welltower shares broke a double bottom at $82 during today's action to mark a second consecutive sell signal before continuing further past support to $81. Although WELL maintains a 4 for 5 TA rating and has traded in a positive trend since August of 2018, recent consecutive sell signals and a flip to negative monthly momentum suggest that supply is in control in the near-term. No new positions at this time. For those maintaining long exposure, WELL tests support at $81 and finds the bullish support line at $77. |
