FDX, GRMN, LHCG, ODFL, PETS, PRAA, SAIA, SEE, SHW & WLK
| FDX FedEx Corporation ($166.61) - Aerospace Airline - FDX broke a double top at $164 before moving higher to $166 on Thursday. This marks the fourth consecutive buy signal on the chart for this 3 for 5’er that ranks 2nd out of 42 names in the favored aerospace airline sector RS matrix. Additionally, monthly momentum has bene positive for two months, suggesting the potential for higher prices. Demand is in control. From here, initial support sits at $154 while overhead resistance lies at $168. |
| GRMN Garmin Ltd. ($100.59) - Electronics - GRMN broke a spread triple top at $100 on Thursday, marking the second consecutive buy signal on the chart. This stock is a perfect 5 for 5’er within the favored electronics sector that has maintained a market RS buy signal since March 2019. Demand is in control. From here, initial support sits at $96 while GRMN faces resistance at $104. Note earnings are expected 7/29. |
| LHCG LHC Group, Inc. ($183.89) - Healthcare - LHCG broke a double top at $186, marking a new all-time high as well as the fourth consecutive buy signal, confirming that demand is in control. This stock is a solid 5 for 5’er that ranks in the top quartile of the favored healthcare sector that has experienced two weeks of positive weekly momentum. Demand is in control however LHCG is trading in heavily overbought territory. From here, initial support sits at $172. Earnings are expected 8/5. |
| ODFL Old Dominion Freight Line, Inc. ($179.89) - Transports/Non Air - ODFL broke a double top at $180 before moving higher to $182, marking a new all-time high. This stock is a 5 for 5’er that has given five consecutive buy signals. In addition, ODFL has maintained a long-term market RS buy signal since May 2010 and just experienced a flip to positive weekly momentum. Demand is in control and the technical picture is positive. From here, initial support sits at $172. Note this stock expects earnings 7/30. |
| PETS PetMed Express, Inc. ($41.47) - Retailing - PETS broke a double top at $40 before moving higher to $41 on Thursday, marking the second consecutive buy signal on the chart. PETS is a solid 4 for 5’er in the retailing sector that just experienced a flip to positive weekly momentum, suggesting the potential for higher prices. Demand is in control and the technical weight of the evidence is positive. From here, initial support sits at $36. Earnings expected 7/20. |
| PRAA Portfolio Recovery Associates, Inc. ($40.49) - Finance - PRAA climbed higher on Thursday to break a spread quintuple top at $40, resulting in a fourth consecutive buy signal. The 3 for 5’er ranks in the top quartile of the favored finance stock sector matrix and currently resides one box away from returning to an RS buy signal versus the market. In addition, PRAA reentered a positive trend in May of this year and is actionable from an Overbought/Oversold (OBOS) perspective. Demand is in control. The next level of resistance resides at $43, while initial support is offered at $36. Note earnings are expected on August 6th. |
| SAIA Saia, Inc. ($126.67) - Transports/Non Air - SAIA is a perfect 5 for 5’er that broke a double top at $130, marking a new all-time high. Today’s breakout marks the third consecutive buy signal on the chart, confirming that demand is in control. Weekly momentum just flipped positive while monthly momentum has been positive for two months. Overall, demand is in control and the technical picture is positive. From here, initial support sits at $122. |
| SEE Sealed Air Corporation ($37.00) - Business Products - SEE advanced during trading on Thursday to break a double top at $37, completing a bullish catapult pattern and giving a second consecutive buy signal. The 3 for 5’er ranks in the top third of the favored business products stock sector matrix and reentered a positive trend in June of this year. In addition, weekly and monthly momentum just flipped to positive, suggesting the potential for further upside from here. The next level of resistance resides at $40 while initial support is offered at $30. Note SEE offers a yield of 1.77% and earnings are expected on August 6th. |
| SHW The Sherwin-Williams Company ($598.77) - Building - Shares of SHW advanced on Thursday to break a double top at $600, giving a seventh consecutive buy signal and matching an all-time chart high. The 4 for 5’er resides in the favored building sector and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since October of 2001. In addition, weekly and monthly momentum recently flipped positive, suggesting the potential for further upside from here. Demand is in control. Further bullish confirmation would come with a move past current resistance at $600 while initial support is offered at $560. Note earnings are expected on July 28th. |
| WLK Westlake Chemical Corporation ($55.22) - Chemicals - WLK broke a double top at $56, returning the chart to a Point & Figure buy signal. This stock is a 3 for 5’er that moved back into a positive trend in mid-May and ranks 11th out of 49 stocks in the favored chemicals sector. Additionally, monthly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $51 while WLK faces overhead resistance at $57. Earnings are expected 8/4. |
