AMAT, COHR, CPRT, EDIT, ENTG, GWPH, IAC, QLYS, RUN & TERP
| AMAT Applied Materials, Inc. ($55.89) - Semiconductors - Shares of AMAT returned to a buy signal on Tuesday with a triple top break at $55 and later moved higher to match resistance at $56. The 4 for 5’er resides in the favored semiconductors sector and recently reentered a positive trend on April 29th. Furthermore, AMAT demonstrates positive near-term strength versus the market, as it sits one box away from returning to an RS buy signal. The weight of the evidence is positive and those looking to initiate new long exposure may consider AMAT at current levels. Past $56, the next level of resistance resides at $61 while initial support is found at $50. Note AMAT also offers a yield of 1.56%. |
| COHR Coherent, Inc. ($145.46) - Electronics - Coherent shares broke a double top at $144 today, marking a third consecutive buy signal before advancing further to $146. This strong 5 for 5'er returned to a positive trend in early May and has maintained a market RS buy signal since September of 2019. Additionally, COHR ranks 9th of 59 names included in the favored electronics sector RS matrix. Demand is in control and long exposure may be added here, noting that initial support is offered at $128. Earnings are expected on 5/27. |
| CPRT Copart Incorporated ($85.46) - Autos and Parts - Copart shares broke a double top at $85 today, marking a third consecutive buy signal. This 5 for 5'er returned to a positive trend in late April and has remained on a market RS buy signal since March of 2017, confirming long-term strength against the broader market. Additionally, CPRT ranks in the top half of the favored autos and parts sector RS matrix. Demand is in control. Earnings are reported tomorrow (5/20) after market close and assuming no major reactions occur, long exposure may be added here. Note that support is offered at $78 and $77. |
| EDIT Editas Medicine Inc ($27.85) - Biomedics/Genetics - Shares of EDIT advanced on Tuesday to break a double top at $28 and give a fourth consecutive buy signal. The 4 for 5’er ranks in the top half of the favored biomedics/genetics stock sector matrix and recently reentered a positive trend on April 20th. Additionally, EDIT has remained on an RS buy signal versus the market since November of 2019 and is actionable from an Overbought/Oversold (OBOS) perspective. Demand is in control. The next level of resistance can be found at $29 while initial support is offered at $24. |
| ENTG Entegris Inc. ($58.10) - Semiconductors - Entegris shares broke a double top at $58 today, marking a fifth consecutive buy signal. This strong 5 for 5'er returned to a positive trend in early April and has maintained a market RS buy signal since July of 2016. Additionally, ENTG ranks 16th of 60 names included in the favored semiconductors sector RS matrix. Demand is in control and long exposure may be added here, nothing that support is offered at $53 and $51. Overhead resistance is found at $59, the stock's all-time high. |
| GWPH GW Pharmaceuticals PLC (United Kingdom) ADR ($123.00) - Drugs - GW Pharmaceuticals broke a double top at $122 during today's trading to mark a fourth consecutive buy signal. GWPH is a 3 for 5'er that returned to a positive trend in April and has recently experienced a flip to positive monthly momentum, suggesting the potential for further gains. Additionally, the stock ranks in the top third of the favored drugs sector RS matrix. The weight of the evidence is positive. Okay to add long exposure here or on a pullback, as the stock is approaching heavily overbought levels. Note that initial support is offered at $108. |
| IAC IAC/InterActiveCorp ($258.66) - Media - IAC shares completed a bullish catapult with a move to $256 during today's action, marking a fourth consecutive buy signal. This strong 5 for 5'er returned to a positive trend in late April and has maintained a market RS buy signal since May of 2017, confirming long-term strength. Additionally, IAC ranks 5th of 44 names included in the media sector RS matrix. Demand is in control and long exposure may be added here. Note that support is offered at $228. |
| QLYS Qualys Inc ($110.90) - Computers - Qualys shares broke a double top at $110 today, marking a fifth consecutive buy signal and testing an all-time high. This strong 5 for 5'er trades well above its recently-established bullish support line and has maintained a market RS buy signal since August of 2017. Additionally, QLYS ranks in the top third of the favored computers sector RS matrix. Demand is in control here and long exposure may be added on an individual basis or via the DWA Computer Sector Portfolio, of which QLYS is a holding. Support is offered at $102 and $99. |
| RUN Sunrun Inc ($15.94) - Utilities/Electricity - Sunrun shares broke a double top at $15.50 during today's trading, marking a fourth consecutive buy signal. Today's break also signifies a positive trend reversal for the stock, promoting it to a 4 for 5'er. RUN is also 1 box away from returning to a market RS buy signal and ranks 2nd of 48 names included in the favored utilities/electricity sector RS matrix. Monthly momentum has also recently flipped positive, suggesting the potential for further gains. Okay to add long exposure here as demand is in control. Note that support is offered at $13 and $12.50. |
| TERP Terraform Power Inc ($18.83) - Utilities/Electricity - TERP continued higher on Tuesday to break a double top at $19.50, resulting in a third consecutive buy signal. The 5 for 5’er resides in the favored utilities/electricity sector and is currently a holding in the DWA Electric Utilities Sector Portfolio, indicating strength amongst its peers. Additionally, TERP demonstrates positive long-term relative strength versus the market as it has remained on an RS buy signal since July of 2016 and recently experienced a flip to positive monthly momentum, suggesting the potential for further upside from here. Demand is in control. The next level of resistance resides at $20 while initial support can be found at $17.50. Note TERP also offers a yield of 4.23%. |
