BIP, CC, DNKN, ELY, FIS, HZO, IPHI, LAD, MBUU & NEM
| BIP Brookfield Infrastructure Partners L.P. ($43.85) - Utilities/Electricity - BIP broke a double top at $44 on Tuesday, marking the sixth consecutive buy signal on the chart. BIP is a perfect 5 for 5’er that has maintained a market RS buy signal since November 2010. In addition, weekly momentum has been positive for two weeks, suggesting the potential for higher prices. From here, initial support sits at $39. Earnings are expected 8/5. |
| CC The Chemours Company ($16.73) - Chemicals - CC completed a bullish triangle pattern on Tuesday with a double top breakout at $17. This stock is a 3 for 5’er that has given four consecutive buy signals, confirming that demand is in control. Monthly momentum has been positive for two months and CC expects earnings on 7/30. From here, initial support sits at $14.50. Note CC offers a yield of 6.23%. |
| DNKN Dunkin Brands Group Inc ($68.31) - Restaurants - DNKN returned to a buy signal on Tuesday with a double top buy signal at $68. This stock is a 4 for 5’er that has maintained a market RS buy signal since September 2018. Weekly and monthly momentum just flipped positive, suggesting the potential for higher prices. The weight of the evidence is positive. From here, initial support sits at $64. Note earnings are expected 7/30. |
| ELY Callaway Golf Company ($18.70) - Leisure - Shares of ELY advanced on Tuesday to break a spread triple top at $18.50, resulting in a sixth consecutive buy signal. The 4 for 5'er ranks in the top quartile of the favored leisure stock sector matrix and reentered a positive trend in May of this year, demonstrating relative and absolute strength, respectively. In addition, ELY recently experienced a flip to positive monthly momentum, suggesting the potential for additional upside. Demand is in control. The next level of resistance resides at $19.50 while initial support is offered at $16.50. Note earnings are expected on August 6th. |
| FIS Fidelity National Information Services, ($143.69) - Finance - FIS advanced on Tuesday to break a triple top at $144, returning the stock to a buy signal. The 4 for 5'er recently reentered a positive trend in April and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since February of 2014. FIS also recently experienced a flip to positive weekly momentum, suggesting the potential for additional upside. The weight of the evidence is positive here and the stock is actionable at current levels. The next level of resistance resides at $150 while initial support is offered at $130. Note earnings are expected on August 4th. |
| HZO Marinemax ($26.08) - Leisure - HZO broke a double top at $26 and is now testing a high watermark last seen in November 2018. This stock is a 5 for 5’er that ranks 4th out of 48 stocks in the favored leisure sector. Monthly momentum has been positive for three months, suggesting the potential for higher prices. Demand is in control as the chart has now given four consecutive buy signals. From here, support sits at $22. Earnings are expected 7/23. |
| IPHI Inphi Corp ($124.49) - Semiconductors - Shares of IPHI advanced on Tuesday, completing a bullish triangle with a break at $128 to give a second consecutive buy signal. The 5 for 5'er ranks in the top third of the favored semiconductors stock sector matrix and demonstrates positive long-term relative strength versus the market, remaining an an RS buy signal for over one year now. In addition, IPHI reentered a positive trend in April and recently experienced a flip to positive weekly momentum, suggesting the potential for additional upside. Demand is in control. The next level of resistance resides at $132 while initial support is offered at $120. Note earnings are expected on July 30th. |
| LAD Lithia Motors Inc-Cl A ($175.93) - Autos and Parts - LAD broke a double top $178 on Tuesday and is now trading at a new all-time high. This stock has now given a total of seven consecutive buy signals, confirming that demand is in control. LAD is a perfect 5 for 5’er that ranks 3rd out of 51 names in the favored autos and parts sector RS Matrix. Also, monthly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $168. |
| MBUU Malibu Boats Inc. ($57.57) - Leisure - MBUU broke a spread triple top at $57 and is now just two points away from matching its all-time high from September 2018 at $59. This stock is a 5 for 5’er that has given two consecutive buy signals. Monthly momentum has been positive for three months and MBUU is trading in a positive trend. The weight of the evidence is positive. From here, initial support sits at $50. |
| NEM Newmont Corp ($64.66) - Precious Metals - NEM broke a double top at $65, the second consecutive buy signal on the chart. This stock is a 3 for 5’er that is trading in a positive trend. Additionally, NEM has maintained a long-term market RS buy signal since February 2016 and has experienced three weeks of positive weekly momentum. From here, initial support sits at $60. Note NEM offers a yield of 1.56%. |
