AMZN, CBOE, FCFS, GWW, INTC, PCTY, RGR, SHOP, SRPT & VVI
| AMZN Amazon.com Inc. ($2,981.00) - Internet - AMZN fell to a sell signal on Friday when it broke a double bottom at $2912. The weight of the evidence remains positive as the stock is a 4 for 5'er and ranks in the top half of the favored internet sector matrix. From here, the next level of support sits at $2656, while AMZN would need to reach $3264 to return to a buy signal. Earnings are expected on 7/30. |
| CBOE CBOE Global Markets Inc. ($89.32) - Wall Street - Shares of CBOE fell Friday to break a triple bottom at $89. This 1 for 5'er moved to a negative trend in June and ranks last out of 25 names in the wall street sector RS matrix. The stock also moved to an RS sell signal against the market earlier this week. Avoid long exposure. Note that CBOE carries a 1.58% yield and has earnings expected on 7/31. Initial overhead resistance may be found at $95. |
| FCFS FirstCash, Inc. ($61.57) - Finance - FCFS moved lower on Friday with a triple bottom break at $62 and later continued to $61, returning the stock to a sell signal. The 1 for 5'er ranks last in the finance stock sector matrix recently reentered a negative trend on July 22nd, demonstrating relative and absolute weakness, respectively. Supply is in control. FCFS currently resides at support around $61 while resistance can be found at $68. Note the stock offers a yield of 1.65%. |
| GWW W.W. Grainger, Inc. ($341.58) - Machinery and Tools - Shares of GWW reversed up into a column of Xs to break a double top at $344 on Friday, resulting in a third consecutive buy signal. The 4 for 5'er resides in the favored machinery and tools sector and reentered a positive trend in April of this year, indicating absolute strength. Furthermore, weekly and monthly momentum recently flipped to positive, suggesting the potential for additional upside. Demand is in control. Additional bullish confirmation would come with a move past current resistance at $344 while initial support is offered at $328. Note GWW also offers a yield of 1.7%. |
| INTC Intel Corporation R ($50.77) - Semiconductors - Following its earnings release after hours on Thursday INTC traded down more than 15% intraday on Friday taking out multiple levels of support in the process. INTC had already become a low attribute name when it violated its trend line in June dropping it to a 2 for 5'er. The stock currently sits against support at $50, with further support at $46. Long exposure should be avoided. |
| PCTY Paylocity Holding Corporation ($132.31) - Software - PCTY gave a second consecutive sell signal when it broke a double bottom at $132 in Friday's trading. The stock now sits against support at $132, with further support afforded at $124. Despite the negative recent chart action, the long-term technical outlook remains positive; PCTY is a 5 for 5'er and ranks in the top quartile of the favored sodtware sector matrix. From here, PCTY faces overhead resistance at $142. Earnings are expected on 8/6. |
| RGR Sturm Ruger & Company, Inc. ($75.57) - Protection Safety Equipment - RGR gave an initial sell signal when it broke a double bottom at $75 in Friday's trading. The technical picture remains positive for RGR as this is the first sell signal in an otherwise strong uptrend and the stock is a perfect 5 for 5'er and ranks in the top third of the protection safety equipment sector matrix. RGR carries a 1.0% yield and is expected to report earnings on 7/29. |
| SHOP Shopify Inc ($922.27) - Internet - SHOP moved to a sell signal when it broke a triple bottom at $896 in Friday's trading. The overall technical picture remains positive for SHOP which is a perfect 5 for 5'er and ranks seventh out of 54 names in the favored internet sector matrix. From here the next level support sits at $880; beyond this level however, there is no further support to be found on the default chart until $720. So those with open long exposure may wish to monitor the $880 level. |
| SRPT Sarepta Therapeutics Inc ($158.63) - Biomedics/Genetics - SRPT returned to a sell signal with a double bottom break at $158 in Friday's trading and contiued lower to $156, taking out an additional level of support. Despite Friday's action, the outlook for SRTP remains positive. It is a 4 for 5'er and ranks in the top quintile of the biomedics/genetics sector matrix. From here the next level of support sits at $154 with further support at $142. SRPT would return to a buy signal with a move to $176. Earnings are expected on 8/5. |
| VVI Viad Corp. ($14.67) - Business Products - Shares of VVI moved lower on Friday to break a spread quadruple bottom at $15, returning the stock to a sell signal. The 0 for 5'er ranks last in the business products stock sector matrix and reentered a negative trend in February of this year, indicating weak relative and absolute strength, respectively. The weight of the evidence is negative here. The next level of support resides at $14.50 while resistance can be found at $17.50. |
