ADBE, AMED, FRPT, INTU, PAR, SEAS, V, BAND, RPD, & RST
| ADBE Adobe Systems Incorporated ($473.96) - Software - Shares of ADBE moved higher Thursday to break a spread triple top at $472, marking its 10th consecutive buy signal and marking a new all-time high. This 5 for 5'er moved to a positive trend in April and ranks in the top half of the favored software sector RS matrix. The stock has also been on an RS buy signal against the market since mid-2015. Exposure may be considered at current levels, with initial support offered at $432 and further support offered at $424. Note that earnings are expected on 9/15. |
| AMED Amedisys, Inc. ($242.97) - Healthcare - AMED advanced Thursday to break a double top at $240 before pushing higher to a new all-time high at $244 intraday. This 5 for 5'er moved to a positive trend in June and ranks in the top third of the favored healthcare sector RS matrix. The stock has also been on an RS buy signal against the market since mid-2014. The overall weight of the evidence is certainly positive here, however, the recent movement has left the fund overbought with an intraday OBOS reading of 83.85% Thursday. Those looking to add exposure may look to wait for a pullback or normalization of the trading band. Initial support can be found at $224, with further support found at $198, $196 and $192. |
| BAND Bandwidth Inc. Class A ($158.90) - Software - BAND completed a shakeout pattern on Thursday with a triple top breakout at $158, marking a new all-time high on the chart. This stock is a strong 5 for 5’er within the favored software sector RS matrix. In addition, weekly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $142. |
| FRPT Freshpet Inc ($114.77) - Food Beverages/Soap - FRPT continued higher Thursday to break a double top at $112 before marking a new all-time high intraday at $114. This 5 for 5'er moved to a positive trend in April and ranks 6th out of 72 names in the food beverages/soap sector RS matrix. Weekly and monthly momentum are also each positive, indicating the potential for further upside from here. The technical picture is strong, however, FRPT is now trading in heavily overbought territory so those looking to add exposure would be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $99. |
| INTU Intuit Inc. ($318.21) - Software - Shares of INTU continued to advance Thursday and broke a spread triple top at $316, notching a new all-time high. This 4 for 5'er moved to a positive trend in April and has maintained an RS buy signal against the market since 2008. Weekly momentum also recently flipped positive, suggesting the potential for further upside from here. Exposure may be considered at current levels, with initial support offered at $300. Further support can be found at $288 and $284. Note that INTU has earnings expected on 8/25. |
| PAR Par Technology Corporation ($39.63) - Computers - PAR rose Thursday to break a double top at $37, marking its sixth consecutive buy signal before moving to a new all-time high at $39 intraday. This 4 for 5'er moved to a positive trend in May and ranks 4th out of 59 names in the favored computers sector RS matrix. Weekly and monthly momentum each recently flipped positive, suggesting the potential for higher prices. However, the intraday OBOS reading of 83% indicates the stock is now overbought, so those looking to add exposure would be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $31 with further support found at $28. |
| RPD Rapid7 Inc. ($63.26) - Software - RPD broke a double top at $62 on Thursday before moving higher to $63. This marks the 10th consecutive buy signal on the chart, confirming that demand is in control. Weekly momentum has been positive for one week while monthly momentum has been positive for two months. From here, initial support sits at $57 while overhead resistance sits at $64. |
| RST Rosetta Stone, Inc. ($29.68) - Software - RST broke a double top at $29 on Thursday and is now trading at new multi-year highs. Today’s breakout marks the third consecutive buy signal on the chart, confirming that demand is in control. This stock is a 5 for 5’er within the favored software sector that ranks 5th out of 113 names in the sector stock matrix. Demand is in control however RST is trading in overbought territory. From here, initial support sits at $25. |
| SEAS SeaWorld Entertainment, Inc. ($19.26) - Leisure - SEAS moved higher Thursday to break a spread triple top at $19.50. This 3 for 5'er moved back to a positive trend last week and ranks in the top quartile of the favored leisure sector RS matrix. Weekly and monthly momentum also each recently flipped positive, suggesting the potential for further upside from here. The overall technical picture continues to improve. Initial support can be found at $17.50. Note that further support would not be found until the bullish support line, which currently resides at $15. |
| V Visa Inc. ($203.41) - Finance - V continued higher Thursday to break a spread quadruple top at $204. This 4 for 5'er moved to a positive trend in April and has maintained an RS buy signal against the market since late-2012. Weekly and monthly momentum also just flipped positive, indicating the potential for further price appreciation. Exposure may be considered at current levels, with initial support found at $190, which is also the current location of the bullish support line. Further overhead resistance may be found at the all-time high of $212 from February. |
