BLDP, CHH, COLM, ENSG, MRTX, MYOK, NSIT, PYPL, RUN & XBIT.
| BLDP Ballard Power Systems, Inc. ($16.54) - Electronics - Shares of BLDP moved higher Monday to break a double top at $17 before moving to $17.50 intraday. This 3 for 5'er has maintained a positive trend since May of 2019 and ranks in the top third of the favored electronics sector RS matrix. The stock has also maintained an RS buy signal against the market since September of 2018. The overall technical picture is once again improving. Initial support can be found at $14.50 with further support offered at $14. Overhead resistance may come initially at $20 and then $21, the stock's all-time high from July. |
| CHH Choice Hotels ($96.68) - Leisure - CHH continued higher Monday to break a double top at $97. This 4 for 5'er moved back to a positive trend earlier this month and reversed back up into a column of Xs against the market following market action Friday. The stock ranks in the top third of the favored leisure sector RS matrix and also saw monthly momentum just flip positive, suggesting the potential for further upside from here. The weight of the technical evidence is positive and continues to strengthen. Initial support can be found at $93. Further overhead resistance may come at $108, the all-time high from February. |
| COLM Columbia Sportswear Company ($84.50) - Textiles/Apparel - Shares of COLM moved higher Monday to break a spread quadruple top at $83 before advancing past further resistance to $84 intraday. This 3 for 5'er moved to a positive trend in May and ranks in the top half of the textiles/apparel sector RS matrix. The stock has also maintained an RS buy signal against the market since early-2015. Those looking to add exposure may consider COLM on this breakout, with initial support offered at $78. Further support may be found at $76, the current location of the bullish support line. |
| ENSG Ensign Group, Inc. ($58.17) - Healthcare - ENSG rose Monday to break a double top at $59. This 5 for 5'er moved to a positive trend in July and ranks in the top decile of the favored healthcare sector RS matrix. The stock has also maintained an RS buy signal against the market since mid-2018. The overall weight of the evidence is decidedly positive here, however, the recent price improvement has led ENSG into overbought territory with an intraday weekly overbought/oversold (OBOS) reading of 91% Monday. Those looking to add exposure may be best served by waiting for a pullback or normalization of the trading band. Initial support can be found at $55. |
| MRTX Mirati Therapeutics Inc. ($148.06) - Biomedics/Genetics - MRTX continued higher Monday to break a double top at $146 before marking a new all-time high at $148 intraday. This 4 for 5'er ranks 8th out of 127 names in the biomedics/genetics sector RS matrix and moved back to a positive trend in April. The stock has also maintained an RS buy signal against the market since 2017. While the technical picture is positive, MRTX is now in 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 $136 with further support offered at $126. |
| MYOK Myokardia Inc ($103.58) - Biomedics/Genetics - Shares of MYOK continued to rise Monday and completed a bullish triangle at $104. This 3 for 5'er moved to a positive trend in April and ranks in the top half of the biomedics/genetics sector RS matrix. Weekly and monthly momentum are also each positive, suggesting the potential for further upside from here. Those looking to add exposure may consider the stock at current levels, with initial support offered at $98 and further support found at $97. Note that the stock is currently at overhead resistance from earlier this month, with the potential for further resistance coming next at $106. |
| NSIT Insight Enterprises Inc ($59.23) - Business Products - Shares of NSIT advanced Monday to break a spread triple top at $58 before moving to $59 intraday. This 3 for 5'er moved to a positive trend earlier this month and ranks in the top half of the favored business products sector RS matrix. The stock has also maintained an RS buy signal against the market since mid-2014. Monthly momentum recently flipped positive, suggesting the potential for higher prices. However, this recent price improvement has also moved NSIT into overbought territory with an intraday weekly OBOS reading of 81% Monday. 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 $54, with further support offered at $49, the current location of the bullish support line. |
| PYPL Paypal Holdings Inc ($196.92) - Software - PYPL moved higher Monday and broke a double top at $200. This 4 for 5'er moved to a positive trend in April and just saw weekly momentum flip positive, suggesting the potential for further upside from here. Those looking to add exposure may consider PYPL at current levels, with initial support offered at $192 and further support found at $188. Note that further overhead resistance may be found at the all-time high of $204 from earlier this month. |
| RUN Sunrun Inc ($50.90) - Utilities/Electricity - RUN reversed up into a column of Xs Monday and broke its second consecutive triple top at $50, before advancing to a new all-time high at $51 intraday. This 5 for 5'er moved to a positive trend in May and ranks 1st out of 48 names in the utilities/electricity sector RS matrix. The overall weight of the evidence is positive and continues to improve, however, RUN is now 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 $46 with further support offered at $45 and $42. |
| XBIT Xbiotech Inc ($20.06) - Biomedics/Genetics - XBIT continued higher Monday to break a double top at $20, marking its third consecutive buy signal after the FDA announced the authorization of the company's Convalescent Plasma treatment for Covid-19. This 5 for 5'er ranks in the top quintile of the biomedics/genetics sector RS matrix and moved back to a positive trend earlier this month. Monthly momentum also just flipped positive, suggesting the potential for further price appreciation. Although the technical picture is positive and continues to strengthen, XBIT is now 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 $17.50. |
