BLD, CHDN, DOOR, GRMN, IIPR, NSTG, PENN, RH, TTEC, & YUMC
| BLD Topbuild Corp. ($151.71) - Building - BLD broke a double top at $152 on Thursday, marking the stock’s fourth consecutive buy signal since July. BLD is now trading at new all-time highs with 5 positive attributes in its favor. Monthly momentum has been positive for two months, suggesting the potential for higher prices. From here, initial support sits at $144. |
| CHDN Churchill Downs Inc ($176.20) - Gaming - CHDN broke a double top at $176 on Thursday and is now trading at new all-time highs. Today’s breakout completes a bullish catapult pattern for this 4 for 5’er within the favored gaming sector. Monthly momeutm just flipped positive, suggesting the potential for higher prices. From here, inintial support sits at $168. |
| DOOR Masonite International Corp ($93.43) - Building - DOOR broke a double top at $94 on Thursday and is now trading at new all-time highs. This stock is a 4 for 5’er that moved back into a positive trend in May. Monthly momentum has been positive for two months, suggesting the potential for higher prices. From here, initial support sits at $90. |
| GRMN Garmin Ltd. ($103.64) - Electronics - GRMN broke a triple top at $104 on Thursday and is now testing resistance from February of this year. GRMN is a 5 for 5’er within the favored electronics sector that has maintained a long-term market RS buy signal since March 2019. From current levels, initial support sits at $98 with further support at $95. GRMN provides a yield of 2.4%. |
| IIPR Innovative Industrial Properties Inc ($119.86) - Real Estate - IIPR broke a double top at $120 on Thursday, marking the fifth consecutive buy signal on the chart for this perfect 5 for 5’er. IIPR is showing long-term strength versus the market, evidenced by its market RS buy signal that dates to April 2018. Additionally, monthly momentum has been positive for two months, while weekly momentum has been positive for three weeks. From here, initial support sits at $112. IIPR provides a yield of 3.72%. |
| NSTG Nanostring Technologies Inc. ($39.02) - Biomedics/Genetics - NSTG returned to a buy signal on Thursday with a double top breakout at $38 before breaking through resistance on its way to $39. As a result, NSTG is now trading at new all-time highs with 5 out of 5 attributes in its favor as its peer RS chart reversed up into Xs after yesterday's trading session. Monthly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $33. |
| PENN Penn National Gaming Inc ($54.07) - Gaming - PENN broke a double top at $52 before moving higher to $54 on Thursday, marking the stock’s fourth consecutive buy signal in addition to a new all-time high. PENN is a perfect 5 for 5’er that ranks #1 in the gaming sector RS matrix, confirming the stock’s strength relative to its peers. Weekly momentum has been positive for two weeks, adding to the overall positive weight of the evidence. From here, initial support sits at $46. Note PENN is trading in heavily overbought territory here, so those looking to initiate new long positions may best be served on a pullback or upon normalization of the trading band. |
| RH RH ($320.68) - Retailing - RH broke a double top at $320, marking the stock’s sixth consecutive buy signal on the chart as well as a new all-time high. RH is a perfect 5 for 5’er as all of its trending and RS characteristics are positive here. Monthly momentum has been positive for two months, and RH ranks in the top decile of the favored retailing sector RS matrix. From here, initial support sits at $304. Note earnings are expected 9/8. |
| TTEC TTEC Holdings Inc ($58.75) - Business Products - TTEC broke a double top at $60 on Thursday and is now trading at new all-time highs. This stock is a perfect 5 for 5’er that ranks 6th out of 100 names in the favored business products sector. Additionally, weekly momentum has been positive for two weeks, while monthly momentum has been positive for three months. From here, initial support sits at $54. Note TTEC is heavily overbought at current levels. |
| YUMC Yum China Holdings Inc ($54.80) - Restaurants - YUMC is a 4 for 5’er within the restaurants sector that has four positive attributes in its favor. With Thursday’s market action, YUMC broke a fourth consecutive buy signal at $55, marking a new all-time high on the chart. Weekly momentum has been positive for two weeks, suggesting the potential for higher prices. From here, initial support sits at $40, YUMC’s bullish support line. |
