ADNT, AMP, APAM, APO, CMI, DHI, HOG, MAR, ROK & UFPI.
| ADNT Adient plc ($18.23) - Autos and Parts - ADNT returned to a buy signal with a double top breakout at $18 before moving higher to $18.50. This stock is a solid 3 for 5’er within the favored autos and parts sector that moved into a positive trend in early June. From here, support sits at $15.50, the bullish support line. Note earnings are expected 8/6. |
| AMP Ameriprise Financial ($152.63) - Finance - Ameriprise shares pushed higher today to break through a double top at $152, marking its fifth consecutive buy signal. The 4 for 5'er has been in a positive trend since May and on an RS buy signal versus its peer group since 2010. Monthly momentum recently flipped positive, suggesting potential for higher prices. AMP is actionable at current levels. From here initial support can be found at $144. AMP offers a 2.78% yield and is expected to announce earnings 7/22/20. |
| APAM Artisan Partners Asset Management, Inc ($34.83) - Finance - Shares of APAM continued higher Wednesday to break a double top at $34, marking a third consecutive buy signal. This 4 for 5'er moved to a positive trend in May and ranks in the top quintile of the favored finance sector RS matrix. The overall weight of the evidence is positive here and continues to improve. Exposure may be considered at current levels, with initial support offered at $29 and further support offered at $26. Note that APAM carries a 7.25% yield and has earnings expected on 7/28. |
| APO Apollo Global Management Inc. ($51.86) - Wall Street - APO continued higher Wednesday to break a double top at $52. This 5 for 5'er moved to a positive trend in April and ranks 4th out of 25 names in the wall street sector RS matrix. Monthly momentum also recently flipped positive, suggesting the potential for further upside from here. Those looking to add exposure may consider APO at current levels, with initial support offered at $48 and further support found at $46. The potential for overhead resistance may come initially at $55. Note that APO carries a 5.46% yield and has earnings expected on 7/30. |
| CMI Cummins Inc. ($182.74) - Machinery and Tools - Shares of CMI advanced on Wednesday to break a double top at $180 and move higher to $182, resulting in a fourth consecutive buy signal. The 4 for 5’er ranks in the top half of the favored machinery and tools stock sector matrix and reentered a positive trend in April of this year, each indicating positive relative and absolute strength, respectively. Furthermore, CMI recently experienced a flip to positive monthly momentum, suggesting the potential for additional upside from here. Demand is in control. The next level of resistance resides at $184 while initial support is offered at $172. Note earnings are expected on July 28th. |
| DHI D.R. Horton, Inc. ($59.38) - Building - Shares of DHI climbed on Wednesday to break a spread triple top at $60 and move higher to $61, resulting in a second consecutive buy signal. The 5 for 5’er resides in the top half of the favored building stock sector matrix and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since January of 2012. In addition, monthly momentum recently flipped to positive, suggesting the potential for further price appreciation from here. The weight of the evidence is positive for DHI. The next level of resistance resides at $62, the all-time chart high, while initial support is offered at $53. Note earnings are expected on July 28th. |
| HOG Harley-Davidson, Inc. ($28.89) - Leisure - HOG moved higher Wednesday to break a double top at $29, marking its fourth consecutive buy signal. This 3 for 5'er moved to a positive trend in April and ranks in the top third of the favored leisure sector RS matrix. The technical picture continues to strengthen here. Initial support may be found at $23 with further support offered at $22. The bullish support line is also currently found at $20. Note that earnings are expected on 7/21. |
| MAR Marriott International, Inc. ($94.22) - Leisure - MAR returned to a buy signal with a triple top breakout at $91 before moving higher to $94. This stock is a 3 for 5’er that moved back into a positive trend in May. From here, initial support sits at $86. MAR expects earnings on 8/3. |
| ROK Rockwell Automation, Inc. ($220.38) - Electronics - Rockwell Automation shares moved higher today to break a double top at $220 to mark its third consecutive buy signal. The 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since 2010. Monthly momentum has been positive for two months, suggesting potential for higher prices. ROK is actionable at current levels. From here, initial support is found at $204. Earnings are expected on 7/23/20. |
| UFPI UFP Industries Inc ($51.26) - Forest Prods/Paper - UFPI advanced on Wednesday to complete a bullish triangle pattern with a break at $50, resulting in a second consecutive buy signal. The 5 for 5’er is currently a holding in the DWA Forest Products Sector Portfolio and has remained on an RS buy signal versus the market since October of 2019, each demonstrating favorable relative strength. In addition, UFPI reentered a positive trend in May of this year and is actionable from an Overbought/Oversold (OBOS) perspective. Demand is in control. Further bullish confirmation would come with a move past current resistance at $51, while initial support is offered at $46. Note earnings are expected on July 22nd. |
