AMGN, APPF, AYX, MDGL, NOW, TWLO, SCS, CROX, TTD, & RARE
| AMGN Amgen Inc. ($249.08) - Biomedics/Genetics - Amgen shares completed a shakeout to return to a buy signal at $248 today, marking a new all-time high in the process. AMGN returned to a positive trend in March of 2020 and has maintained a market RS buy signal since October of 2014. Additionally, weekly momentum has recently fipped positive, suggesting the potential for further gains. Demand is in control and long exposure may be added here. Note that support is offered at $216 and that AMGN carries a yield of 2.71%. Earnings are expected on 7/23. |
| APPF Appfolio Inc ($169.78) - Software - Appfolio shares completed a bullish triangle at $166 today to mark a fourth consecutive buy signal before continuing further to $168. This 5 for 5'er moved to a positive trend in May and has maintained a market RS buy signal since November of 2016. Additionally, APPF ranks 13th of 113 names included in the favored software sector RS matrix. Demand is in control. Okay to add here with support offered at $158 and $156. Note that earnings are expected on 7/27. |
| AYX Alteryx Inc ($175.45) - Software - Alteryx shares completed a bullish triangle at $168 today, marking a fifth consecutive buy signal before advancing further past resistance to a new all-time high of $176. AYX is a strong 5 for 5'er that trades well above its recently established bullish support line and ranks 22nd of 113 names included in the favored software sector RS matrix. Demand is in control and long exposure may be added here or on a pullback, as AYX is approaching overbought levels. Note that support is offered at $158 and $154. Earnings are expected on 7/29. |
| CROX Crocs, Inc. ($35.66) - Textiles/Apparel - Crocs shares broke a double top at $37 to mark a third consecutive buy signal. This 4 for 5'er trades well above its recently established bullish support line and is one box away from moving to a market RS buy signal. Additionally, CROX ranks 2nd of 21 names included in the favored textiles/apparel sector RS matrix. Demand is in control and long exposure may be added here on an individual basis or via the DWA Textiles & Apparel Sector Portfolio, of which CROX is a holding. Support is offered at $30 and earnings are expected on 7/30. |
| MDGL Madrigal Pharmaceuticals Inc. ($112.41) - Healthcare - Madrigal Pharma shares completed a bearish signal reversal at $116 today, returning the stock to a buy signal before it advanced further to $118. This 4 for 5'er trades well above its recently established bullish support line and moved to a market RS buy signal in April of 2020. Additionally, MDGL ranks 10th of 116 names included in the favored healthcare sector RS matrix. Okay to add on the breakout here as the weight of the evidence is positive. Note that support is offered at $97 for this high rRisk (relative volatility) stock. |
| NOW Servicenow Inc ($412.64) - Software - Servicenow shares broke a double top at $408 today, marking a seventh consecutive buy signal and testing an all-time high for the stock. This strong 4 for 5'er trades well above its bullish support line and has maintained a market RS buy signal since September of 2013. Additionally, NOW ranks in the top third of the favored software sector RS matrix. Demand is in control and long exposure may be added here. Note that initial support is offered at $388 and that earnings are expected on 7/22. |
| RARE Ultragenyx Pharmaceutical Inc. ($84.24) - Biomedics/Genetics - Ultragenyx shares broke a double top at $79 and continued higher to $84 during today's intraday action. This 4 for 5'er has been in a positive trend since April and has maintained positive monthly momentum for the past five months. RARE has been on an RS buy signal since April and is currently in the top quartile of its DWA sector matrix. From here, initial support lies at $73. |
| SCS Steelcase, Inc. ($10.87) - Business Products - Steelcase shares returned to a sell signal with a double bottom break at $11 today. This 1 for 5'er moved to a negative trend in February and has been on a market RS sell signal since December of 2015. Supply is in control and long exposure should be avoided. Short sellers should note that SCS has a yield of 2.32%. |
| TTD The Trade Desk Inc ($426.56) - Internet - Trade Desk shares broke a triple top at $424 and has continued its upward move to $432 to reach a new all-time high with today's intraday action. TTD is now on its fourth consecutive buy signal and has been in a positive trend since April. This 5 for 5'er has been on an RS buy signal versus the market since early 2017 and is currently ranked 7th of 52 names included in the internet sector RS matrix. A recent flip to positive monthly momentum suggests the potential for higher prices. Those looking to take a long position may be best served to wait for a pullback as recent price action has put TTD into heavily overbought territory. From here initial support is offered at $392. |
| TWLO Twilio Inc ($226.65) - Internet - Twilio shares broke a double top at $224 today, marking a third consecutive buy signal and a new all-time high. This strong 5 for 5'er moved to a positive trend in April and has maintained a market RS buy signal since March of 2018. Additionally, the stock ranks 6th of 52 names included in the favored internet sector RS matrix. Demand is in control and long exposure may be added here individually or via the DWA Internet Sector Portfolio, of which TWLO is a holding. Support is offered at $208 and earnings are expected on 7/29. |
