ICPT, FFIN, BHF, ADC, BLK, PCTY, PSX, SRE, HON, & MBUU
| ADC Agree Realty Corporation ($64.71) - Real Estate - ADC returned to a buy signal on Wednesday at $66, which flipped the trend back to positive. As a result, ADC is now a 4 for 5’er within the favored real estate sector. This stock has maintained a long-term market RS buy signal since June 2016, confirming its superior strength versus the broader market. From here, initials support sits at $55. Note ADC offers a yield of 3.72%. |
| BHF Brighthouse Financial Inc. ($31.77) - Insurance - Shares of BHF gave a second consecutive buy signal on Wednesday with a double top break at $33 and later continued higher to $34. The 5 for 5’er ranks in the top decile of the insurance stocks sector matrix and recently reentered a positive trend on May 12th. Furthermore, BHF recently returned to an RS buy signal versus the market on May 26th and remains actionable from an Overbought / Oversold (OBOS) perspective. The weight of the evidence is positive here. The next level of resistance resides at $38 while initial support is offered at $24. |
| BLK BlackRock, Inc. ($533.00) - Wall Street - BLK broke a double top at $536 on Wednesday, marking the second consecutive buy signal on the chart. This stock is a strong 4 for 5’er that ranks within the top quartile of the Wall Street sector RS matrix. BLK’s breakout has now established support at the $504 level. Note this stock offers a yield of 2.72%. |
| FFIN First Financial Bankshares, Inc. ($31.15) - Banks - FFIN completed a bullish catapult on Wednesday with a double top break at $30, resulting in a second consecutive buy signal before advancing further to $31. The 4 for 5’er ranks 17th out of 120 names in the banks stock sector matrix and demonstrates positive long-term relative strength versus the market by remaining on an RS buy signal since June of 2008. In addition, FFIN is a holding in the DWA Bank Sector Portfolio and is actionable at current levels. Demand is in control. The next level of resistance can be found at $36, its all-time high, while initial support resides at $24. Note FFIN also offers a yield of 1.67%. |
| HON Honeywell International, Inc. ($147.85) - Aerospace Airline - HON returned to a buy signal on Wednesday with a spread triple top at $148 before moving higher to $150. As a result, HON is now trading in a positive trend with all 5 technical attributes in its favor. HON has maintained a long-term market RS buy signal since July 2007, confirming its superior strength versus the broader market. Demand is in control and the weight of the evidence is positive. From here, initial support is offered at $118 while overhead resistance sits at $160. Note HON offers a yield of 2.44%. |
| ICPT Intercept Pharmaceuticals Inc ($73.90) - Biomedics/Genetics - Shares of ICPT reversed down into a column of Os on Wednesday, resulting in a third consecutive sell signal with a double bottom break at $76 before continuing further past support in violation of its bullish support line to $73. The 2 for 5’er ranks in the bottom half of the biomedics/genetics stock sector matrix and demonstrates long-term weakness relative to the market, remaining on a relative strength sell signal since December of 2015. Furthermore, weekly and monthly momentum are both negative, adding to the weak picture. Supply is in control and long exposure should be avoided at this point. The next level of support can be found at $69 while resistance resides at $82. |
| MBUU Malibu Boats Inc. ($50.29) - Leisure - MBUU broke a double top at $50, marking the fourth consecutive buy signal on the chart. This leisure stock is a perfect 5 for 5’er that ranks in the top quartile of its sector RS matrix. In addition, monthly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $45 while the stock faces overhead resistance at $52, MBUU’s recent high watermark from late February. |
| PCTY Paylocity Holding Corporation ($124.09) - Software - PCTY broke a spread triple top at $126 with the most recent action, marking the second consecutive buy signal on the chart. This stock is a solid 4 for 5’er that moved back into a positive trend in late-April. Additionally, PCTY has maintained a market RS buy signal since April 2018 and has a price target of $162. From here, initial support sits at $118. |
| PSX Phillips 66 ($81.73) - Oil - With the most recent action, PSX broke a double top at $80 before moving higher to $81. This marks the second consecutive buy signal on the chart for PSX and flips the trend back to positive for the first time since January. As a result, PSX is a 4 for 5’er within the favored oil sector. From here, initial support is offered at $76. Note PSX offers a yield of 4.41%. |
| SRE Sempra Energy ($124.39) - Gas Utilities - SRE returned to a buy signal on Wednesday with a double top breakout at $128. This gas utilities stock is a 4 for 5’er that moved back into a positive trend in late April. Additionally, SRE has maintained a long-term peer RS buy signal since December 2014 and yields 3.36%. From here, initial support is offered at $116, with additional support available at $102. |
