DDOG, PSX, IRDM, TMUS, ANET, LDOS, TGTX, DGII, & NTLA.
| ANET Arista Networks Inc ($273.80) - Internet - ANET moved higher Friday to break a double top at $272, marking a new 52-week high. This 3 for 5'er moved to a positive trend last week and sits in the top third of the internet sector RS matrix. The technical picture continues to strengthen, however, those looking to add exposure may wish to wait for a pullback or normalization of the trading band as the stock is now in heavily overbought territory. Initial support can be found at $256. |
| DDOG Datadog Inc Class A ($86.17) - Software - DDOG bounced back from its earnings decline on Wednesday, but reversed back down today. The mean reversion bounce might be over here, and if you are still long DDOG we would advise moving on to a stronger name. |
| DGII Digi International Inc ($16.70) - Software - DGII rose Friday to break a double top at $18 before moving to $18.50 intraday, matching its all-time high last reached in December 2019. This 5 for 5'er moved to a positive trend in August and ranks in the top quintile of the software sector RS matrix. The weight of the evidence is positive here, however, DGII 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 $14.50. |
| IRDM Iridium Communications, Inc. ($31.22) - Telephone - IRDM broke a triple top at $31, marking the third consecutive buy signal on the chart. This stock is a solid 4 for 5’er within the telephone sector that has maintained a long-term market RS buy signal since December 2016. From here, support sits at $26, the bullish support line. |
| LDOS Leidos Holdings Inc. ($98.51) - Computers - LDOS reversed up into a column of Xs Friday and broke a double top at $98, marking its third consecutive buy signal. This 3 for 5'er moved to a positive trend last week and has been on an RS buy signal against the market since early-2016. Weekly momentum also just flipped positive, suggesting the potential for further upside from here. Exposure may be considered at current levels, with initial support offered at $94. Further support can be found at $90. |
| NTLA Intellia Therapeutics Inc. ($33.25) - Drugs - Intellia shares moved higher today to break a double top at $32 to mark its fourth consecutive buy signal. This 5 for 5'er has been in a positive trend since April and went on an RS buy signal versus the market this month. Intellia currently holds the top spot in its stock sector group matrix. Recent price action has put NTLA into heavily overbought territory, so those wishing to initiate a long position may be best served to wait for a pullback or price normalization. From here, support can be found at $28. |
| PSX Phillips 66 ($59.25) - Oil - PSX continued to rally on Friday as it printed four Xs on its default chart and gave a second consecutive buy signal when it broke a double top at $59. Despite the recent positive action, the technical picture for PSX remains negative as it is a 1 for 5'er trading in a negative trend. From here PSX faces overhead resistance at $61. Potential short sellers should note that PSX carries a 6.1% yield. |
| TGTX TG Therapeutics, Inc. ($29.46) - Biomedics/Genetics - TGTX shares moved higher today to complete a bullish triangle at $30 to mark its third consecutive buy signal. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since December of 2019. TGTX is actionable at current levels with a weekly overbought/oversold reading of 3%. From here, support can be found at $26. |
| TMUS T-Mobile US Inc. ($128.22) - Telephone - TMUS, a perfect 5 for 5'er, broke a double top at $128 and is now trading at new all-time highs. Today’s break marks the seventh consecutive buy signal on the chart, confirming that demand is in control. From here, support sits at $120. |
