ACN, ADI, AMP, AMZN, AWK, BBIO, BBY, BLK, CLCT, EYE, LBRDA, MIDD, QRVO, SEAS, TXN & TXRH
| ACN Accenture PLC ($233.99) - Business Products - Shares of ACN moved higher Thursday to break a double top at $236. This 5 for 5'er moved to a positive trend in November and has been on an RS buy signal against the market since late-2002. ACN also ranks in the top half of the business products sector RS matrix. Weekly momentum just flipped positive, suggesting the potential for further upside from here. Exposure may be considered at current levels, with initial support offered at $216 and further support found at $212. |
| ADI Analog Devices, Inc. ($130.40) - Semiconductors - ADI rose Thursday to break a spread quadruple top at $128 before continuing to $130 intraday, marking a new all-time high. This 3 for 5'er moved to a positive trend in April and has been on an RS buy signal against the market since 2016. The overall technical picture is strong, however, the recent price appreciation has left ADI 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 $116 with further support offered at $112. Earnings are expected on 11/24. |
| AMP Ameriprise Financial ($174.00) - Finance - AMP shares moved higher today to break a triple top at $174 and return to a buy signal. This 4 for 5'er has been in a positive trend since May and on an RS buy signal versus its peer group since 2010. AMP is actionable at current levels with a weekly overbought/oversold reading of 36%. From here, support can be found at $156. |
| AMZN Amazon.com Inc. ($3,353.72) - Internet - AMZN returned to a buy signal with today’s market action at $3328. AMZN is a solid 4 for 5’er within the internet sector that has been trading in a positive trend since January 2015. Weekly momentum just flipped positive, suggesting the potential for higher prices. From here, support sits at $2976. |
| AWK American Water Works Company, Inc. ($159.28) - Waste Management - AWK, the best performing stock so far this year in the Utilities Select Sector SPDR Fund XLC with a gain of 26%, broke a double top at $162 today and is now trading at new all-time highs. Today’s breakout marks the second consecutive on the chart, signaling follow through. AWK is trading in a positive trend and has maintained a long-term market RS buy signal since September 2011. From here, support sits at $150. |
| BBIO BridgeBio Pharma, Inc. ($41.63) - Biomedics/Genetics - BBIO shares moved higher today to break a double top at $42 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 September. BBIO is actionable at current levels with a weekly overbought/oversold reading of 28%. From here, support can be found at $38 and $37. Note that earnings are expected on 11/9. |
| BBY Best Buy Co., Inc. ($123.13) - Retailing - BBY broke a double top at $124, marking the stock’s 11th consecutive buy signal as well as a new all-time high. This stock is a perfect 5 for 5’er within the favored retailing sector that has maintained a long-term market RS buy signal since November 2016 and a peer RS buy signal since August 2013. BBY is trading well above the bullish support line. Demand is in control. From here, support sits at $110. Note BBY yields 1.85% and expects earnings on 11/24. |
| BLK BlackRock, Inc. ($671.22) - Wall Street - BLK shares pushed higher today to break a double top at $672 to mark its second 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 June of 2010. Recent price action has put BLK into heavily overbought territory, so those wishing to initiate a new long position may be best served to wait for a pullback or price normalization. From here, support can be found at $592. BLK offers a 2.31% yield. |
| CLCT Collectors Universe, Inc. ($72.26) - Retailing - CLCT broke a double top at $71 before moving higher to $73, marking the second consecutive buy signal on the chart. As a result, this stock is now trading at new all-time highs with all 5 attributes in its favor. Weekly momentum just flipped positive, as well. From here, support sits at $67. Note CLCT is trading in heavily overbought territory. |
| EYE National Vision Holdings, Inc. ($45.08) - Retailing - EYE broke a double top at $44 before moving higher to $45, putting the stock just one point from its all-time high of $46 reached in 2018. EYE is a strong 5 for 5’er that moved into a positive trend in May. Additionally, weekly momentum has been positive for three weeks, suggesting the potential for higher prices. From here, support sits at $40. |
| LBRDA Liberty Broadband Corp ($151.44) - Media - LBRDA returned to a buy signal at $152, which also marks a new all-time high for the media stock. LBRDA is a 3 for 5’er that has been trading in a positive trend since April. Monthly momentum just flipped positive, suggesting the potential for higher prices. From here, support sits at $134. |
| MIDD The Middleby Corporation ($120.27) - Household Goods - MIDD broke a spread triple top at $110 on Thursday before moving higher to $120, marking a new all-time high as well as the stock’s second consecutive buy signal. MIDD is a solid 3 for 5’er within the favored household goods sector that has experienced three weeks of positive weekly momentum. Demand is in control however MIDD is now trading above the top of its 10-week trading band, indicating that it is heavily overbought. From here, support sits at $98. |
| QRVO Qorvo Inc. ($146.69) - Semiconductors - Shares of QRVO continued higher Thursday after their earnings release to break a double top at $140 before rising over 9% intraday to $152, marking its highest level since 2000. This 5 for 5'er moved to a positive trend in April and ranks in the top third of the semiconductors sector RS matrix. Exposure may be considered at current levels, with initial support offered at $126 and further support at $124. |
| SEAS SeaWorld Entertainment, Inc. ($24.58) - Leisure - SEAS broke a double top at $25, marking the fifth consecutive buy signal on the chart. SEAS is a strong 5 for 5’er that is trading in a positive trend. Weekly momentum just flipped positive. Demand is in control. From here, support sits at $20. |
| TXN Texas Instruments Incorporated ($155.56) - Semiconductors - TXN continued higher Thursday to break a double top at $156, marking a new all-time high. This 3 for 5'er has been on an RS buy signal against the market since mid-2016 and moved back to a positive trend in May. TXN also sits in the top half of the semiconductors sector RS matrix. Those looking to add exposure may consider the stock at current levels, with initial support offered at $142. Further support can be found at $136. Note that TXN carries a 2.77% yield. |
| TXRH Texas Roadhouse, Inc. ($72.09) - Restaurants - TXRH returned to a buy signal with a double top breakout at $73. TXRH is a solid 4 for 5’er within the favored restaurants sector that moved into a positive trend in July. In addition, weekly momentum has been positive for four weeks while momentum has been positive for four months. From here, support sits at $69. Year-to-date, TXRH is up over 27% while the SPX is up 6.58%. |
