ADNT, AQUA, BC, CACC, EOG, GPN, GSHD, HEI, ITGR, & JACK.
| ADNT Adient plc ($19.59) - Autos and Parts - Adient shares broke a double top at $19 today, marking a sixth consecutive buy signal before continuing further to $19.50. Today's break also marks a positive trend reversal for ADNT and promotes it to a 5 for 5'er. ADNT ranks 2nd of 49 names included in the favored autos and parts sector RS matrix and returned to a market RS buy signal in late April, confirming long-term strength against the broader market. The weight of the evidence is positive.and demand is in control. Okay to add long exposure here or on a pullback as ADNT is approaching heavily overbought levels. Note that support is offered at $16.50. |
| AQUA Evoqua Water Technologies Corp ($19.77) - Utilities/Electricity - Evoqua Water Technologies broke a double top at $20 to mark a fourth consecutive buy signal during today's action. This 3 for 5'er returned to a positive trend in mid-May and ranks 2nd of 48 names included in the utilities/electricity sector RS matrix. Demand is in control and long exposure may be added here or on a pullback, as AQUA is approaching overbought levels here. Note that initial support is offered at $18. |
| BC Brunswick Corporation ($61.38) - Leisure - Brunswich Corporation shares completed a bullish catapult with a break at $60 today to mark a fifth consecutive buy signal before advancing further to $61. BC is a 4 for 5'er that returned to a positive trend in mid-May and ranks 7th of 48 names included in the leisure sector RS matrix. Additionally, BC is one box away from returning to a buy signal on its market RS chart. Overall, the weight of the evidence is positive here. Those considering long exposure may be well served to wait for a pullback, though, as BC is heavily overbought with today's move. Note that initial support is offered at $55 and that BC carries a yield of 1.67%. |
| CACC Credit Acceptance Corp MI ($412.03) - Finance - Credit Acceptance Corp shares reversed up today to complete a bullish triangle at $400, marking a second consecutive buy signal before advancing further past resistance to $416. This 4 for 5'er returned to a positive trend in mid-May and has maintained a market RS buy signal since February of 2015, confirming long-term strength. Additionally, CACC ranks 10th of 70 names included in the favored finance sector RS matrix. Demand is in control. Okay to add long exposure here with support offered at $384. |
| EOG EOG Resources, Inc. ($54.55) - Oil - EOG continued higher Wednesday to mark its fifth consecutive buy signal at $55 before continuing higher to $56 intraday, breaking through its bearish resistance line. This moves the stock back to an overall positive trend, which now gives EOG 4 out of 5 potential technical attributes. The stock also ranks in the top half of the favored oil sector RS matrix. Exposure may be considered on this breakout, with initial support found at $50 and further support offered at $46. The potential for overhead resistance may come initially at $65. Note that EOG also carries a 2.74% yield. |
| GPN Global Payments Inc. ($187.89) - Business Products - Global Payments shares returned to a buy signal with a double top break at $184 today before advancing past resistance to $188. This 5 for 5'er returned to a positive trend in late April and has maintained a market RS buy signal since August of 2015, confirming long-term strength against the broader market. Additionally, GPN ranks in the top third of the favored business products sector RS matrix. Okay to add here on the breakout as demand is in control. Note that initial support is offered at $174. |
| GSHD Goosehead Insurance, Inc. Class A ($65.88) - Insurance - Goosehead Insurance shares broke a double top at $63 today, marking a fifth consecutive buy signal before advancing further past resistance to a new all-time high of $66. This strong 5 for 5'er moved to a positive trend in April and a market RS buy signal in May. Additionally, GSHD ranks 9th of 67 names included in the insurance sector RS matrix. Although demand is in control, GSHD is heavily overbought with today's move. Those considering long exposure may be best served to wait for a pullback to the mid to low $60s, noting that support is offered at $56. |
| HEI Heico Corporation ($110.07) - Aerospace Airline - Heico shares reversed up today to break a double top at $110 and mark a fourth consecutive buy signal. This strong 5 for 5'er returned to a positive trend in May but has maintained a market RS buy signal since 2003, confirming long-term strength. Additionally, HEI ranks in the top quartile of the favored aerospace airline sector RS matrix and is a holding in the DWA Aerospace & Airlines Sector Portfolio. Demand is in control and long exposure may be added here on a pullback as HEI is approaching overbought levels. Note that initial support is offered at $102. |
| ITGR Greatbatch Technologies, Inc. ($84.19) - Electronics - Greatbatch Technologies returned to a buy signal with a spread quadruple top break (that resembles a shakeout pattern) at $84 during today's action. This strong 5 for 5'er returned to a positive trend in May but has maintained a market RS buy signal since 2018, confirming long-term strength. Additionally, ITGR ranks in the top third of the favored electronics sector RS matrix. Okay to add here on the breakout as the technical picture is sound. Note that support is offered at $76. |
| JACK Jack in the Box, Inc. ($69.67) - Restaurants - Jack in the Box shares broke a double top at $70 today to mark a seventh consecutive buy signal before advancing further past resistance to $71. JACK is a 4 for 5'er that returned to a positive trend in May and moved to a market RS buy signal in April. Additionally, the stock ranks 3rd of 26 names included in the favored restaurants sector RS matrix. Demand is in control and long exposure may be added here individually or through the DWA Restaurants Sector Portfolio, of which JACK is a holding. Note that support is offered at $61. |
