AAPL, BLDR, CPA, DFS, EFX, ENPH, LW, NCLH, NKE & PRI.
| AAPL Apple Inc. ($372.65) - Computers - AAPL reversed down into a column of Os Thursday and broke a double bottom at $380, before moving past further support to $372 intraday. This is the stock's first sell signal after six consecutive buy signals, which also led the mega-cap technology name into heavily overbought territory prior to today's move. The long-term technical picture for AAPL remains intact, as the stock possesses 5 out of the 5 possible technical attributes and ranks in the top half of the favored computers sector RS matrix. Further support may be found at $352 with additional support offered at $336. AAPL would return to a buy signal from current levels with a quadruple top breakout at $400. Note that earnings are expected on 7/30. |
| BLDR Builders FirstSource, Inc. ($23.15) - Building - BLDR returned to a buy signal with a double top breakout at $24. This stock is a perfect 5 for 5'er that moved back into a positive trend in late-April. Also, BLDR has maintained a long-term peer RS buy signal since August 2017. Demand is in control and the technical picture is strong. Initial support sits at $19.50 while BLDR faces overhead resistance at $28, the stock's all-time high from February 19, 2020. Note earnings are expected on 7/30. |
| CPA Copa Holdings SA ($46.75) - Aerospace Airline - Shares of CPA fell lower Thursday to break a spread triple bottom at $45. This 1 for 5'er moved to a negative trend in February and ranks in the bottom half of the aerospace airline sector RS matrix. Weekly momentum also recently flipped negative, suggesting the potential for further downside from here. Long exposure should be avoided, while short-seekers should note that CPA carries a 6.81% yield and has further support found at $44. Initial overhead resistance may be found at $50. Also, note that earnings are expected on 8/5. |
| DFS Discover Financial Services ($51.55) - Finance - DFS moved higher following their earnings release Thursday to break a triple top at $52. This 4 for 5'er moved to a positive trend in early-June and ranks in the top third of the favored finance sector RS matrix. The overall weight of the evidence continues to improve here. Exposure may be considered at current levels, with initial support offered at $48. Further support can be found at $46, which is also the current location of the bullish support line. Note that DFS also carries a 3.47% yield. |
| EFX Equifax Inc. ($177.24) - Business Products - EFX continued higher after their earnings call Thursday to break a double top at $176 before continuing higher intraday to match its all-time high at $180. This 3 for 5'er moved to a positive trend in April and ranks in the top quartile of the favored business products sector RS matrix. The stock has also maintained an RS buy signal against the market since early-2015. The weight of the evidence is positive and improving. Initial support can be found at $162. |
| ENPH Enphase Energy Inc ($61.62) - Electronics - ENPH broke a double top at $65 on Thursday, marking the stock's third consecutive buy signal this month. This stock is a perfect 5 for 5'er that ranks within the top third of the favored electronics sector RS matrix. Weekly momentum has been positive for two weeks, suggesting the potential for higher prices. From here, initial support sits at $60 while ENPH faces resistance at the $70 level, the all-time high on the chart printed in May of this year. Note earnings are expected on 8/4. |
| LW Lamb Weston Holdings Inc ($68.66) - Food Beverages/Soap - LW continued higher Thursday to break a double top at $69. This 3 for 5'er moved to a positive trend last month and ranks in the top third of the food beverages/soap sector RS matrix. The stock also carries a bullish price objective of $87 and a favorable reward-to-risk ratio. The overall technical picture continues to strengthen. Initial support can be found at $65 with further support offered at the bullish support line, which can be found at $61. Note earnings are expected on 7/28. |
| NCLH Norwegian Cruise Line Holdings Ltd. ($14.41) - Leisure - NCLH continued lower Thursday to break a triple bottom at $14.50 before falling past further support intraday to $14. This 2 for 5'er moved to a negative trend in February and ranks 47th out of 48 names in the leisure sector RS matrix. Weekly momentum also recently flipped negative, suggesting the potential for further price depreciation. Avoid long exposure. Further support can be found at $9.50, while initial overhead resistance may come at $18.50. Note that earnings are expected on 8/6. |
| NKE NIKE, Inc. ($98.16) - Textiles/Apparel - NKE returned to a buy signal today with a double top breakout at $100. This stock is a strong 4 for 5'er within the favored textiles/apparel sector that just experienced a flip to positive monthly momentum, suggesting the potential for higher prices. Additionally, NKE continues to show long-term strength versus the broader market, evidenced by its market RS buy signal that has been in place since December 2000. From here, initial support sits at $96, while the stock is facing overhead resistance here at the $100 level. |
| PRI Primerica Inc. ($120.80) - Insurance - PRI broke a double top at $122, marking the stock's second consecutive buy signal since May. PRI is a perfect 5 for 5'er as all of its trending and relative strength characteristics are positive here that currently ranks 10th out of 67 names in the insurance sector RS matrix. Additionally, PRI has maintained a long-term market RS buy signal since July 2013, confirming its strength versus the broader market. Monthly momentum just flipped positive, suggesting the potential for higher prices. From here, support sits at $110 while PRI faces overhead resistance at $130. Note earnings are expected on 8/5 and PRI provides a yield of 1.33%. |
