SNBR, VC, FTCH, PNTG, LITE, ENPH, EXLS, ALB, & CCK
| ALB Albemarle Corp ($96.84) - Chemicals - ALB returned to a buy signal in Monday's trading as it reversed up and printed six Xs on its default chart, exceeding to previous levels of resistance. The weight of the evidence for ALB is positive as it is a 5 for 5'er that ranks in the top third of the favored chemicals sector matrix and has been on a market RS buy signal since 2016. The stock now sits against resistance at $97, with additional overhead resistance at $99 and $100. ALB is expected to report earnings on 11/4. |
| CCK Crown Holdings, Inc. ($89.56) - Business Products - CCK gave a third consecutive buy signal when it broke a double top at $89 in Monday's trading. The weight of the evidence is positive as CCK is a 3 for 5'er and ranks in the top quintile of the business product sector matrix. However, those considering long exposure should be aware that Monday's move will put the stock into heavily-overbought territory based on its weekly overbought/oversold reading. CCK has most recently found support at $85; it faces overhead resistance at $93, its all-time high, which it reached in late October. |
| ENPH Enphase Energy Inc ($102.59) - Electronics - ENPH moved higher Monday to reverse up into a column of Xs and break a triple top at $106. This 5 for 5'er moved to a positive trend in July and ranks 3rd out of 59 names in the electronics sector RS matrix. The weight of the technical evidence is positive here. Initial support can be found at $94 with further support offered at $93. Further overhead resistance may come at $108 from last month. |
| EXLS Exlservice Holdings, Inc ($76.40) - Business Products - Shares of EXLS rose Monday to break a double top at $77, marking their fourth consecutive buy signal. This 4 for 5'er moved to a positive trend in July and ranks in the top third of the business products sector RS matrix. The stock has also been on an RS sell signal against the market since late-2015. The technical picture continues to improve, however, the recent price appreciation has left EXLS in overbought territory so those looking to add exposure may be best served to wait for a pullback or normalization of the trading band. Initial support may be found at $68, with further overhead resistance potentially found at the March all-time high of $79. |
| FTCH Farfetch Limited Class A ($32.06) - Retailing - FTCH broke a double top at $32 before moving higher to $33 on Monday, marking a new all-time high on the chart. This stock is a 4 for 5’er within the favored retailing sector that has experienced three weeks of positive weekly momentum. Demand is in control. From here, support sits at $23. Note FTCH expects earnings on 11/12. |
| LITE Lumentum Holdings Inc ($81.79) - Electronics - LITE moved lower Monday after their earnings release to break a quadruple bottom at $80. This 2 for 5'er moved to an RS sell signal against the market in September and ranks in the lower third of the electronics sector RS matrix. The overall technical picture is weak here. Further support can be found at $78, the current location of the bullish support line. Initial overhead resistance may be found at $85 from October. |
| PNTG Pennant Group Inc ($43.25) - Healthcare - PNTG shares moved higher today to break a double top at $43 to mark its third consecutive buy signal. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since August. PNTG is actionable at current levels with a weekly overbought/oversold reading of 21%. From here, support can be found at $37. |
| SNBR Sleep Number Corp. ($65.48) - Household Goods - SNBR broke a triple top at $66 on Monday, marking the stock’s fourth consecutive buy signal. This stock is a perfect 5 for 5’er that ranks 2nd out of 29 names in the favored household goods sector matrix. From here, SNBR faces resistance at $67, the stock’s all-time high printed in October, while support sits between $61 and $62. |
| VC Visteon Corp. ($89.12) - Autos and Parts - VC broke a double top at $91 before moving higher to $92, marking the stock’s second consecutive buy signal as well as a new 52 week high. VC is a 4 for 5’er within the favored autos and parts sector that moved back into a positive trend last month. Demand is in control. From here, support sits at $83. |
