DHI, FND, MELI, SCVL, NEM, LNG, CDAY, & SPSC.
| CDAY Ceridian HCM Holding, Inc. ($97.35) - Software - CDAY moved higher Thursday to break a double top at $100, marking its third consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in April and ranks in the top quartile of the software sector RS matrix. The stock has also been on an RS buy signal against the market since 2018. The technical picture remains strong here. Initial support is offered at $94 with further support found at $92 and $88, the current location of the bullish support line. |
| DHI D.R. Horton, Inc. ($74.93) - Building - DHI returned to a buy signal with a double top breakout at $76. This stock is a 3 for 5’er within the favored building sector. From here, support sits at $65 while overhead resistance lies at $81. |
| FND Floor & Decor Holdings Inc ($79.20) - Retailing - FND broke a double top at $79 on Thursday, returning the chart to a Point & Figure buy signal. FND is a 4 for 5’er within the favored retailing sector that has maintained a long-term market RS buy signal since August 2019. From here, support sits at $74 while FND faces resistance at $84. |
| LNG Cheniere Energy, Inc. ($55.09) - Oil - LNG gave a second consecutive buy signal in Thursday's trading after moving back to a positive trend in last week's trading. The technical picture for LNG has turned positive as it is a 4 for 5'er and ranks in the top half of the oil sector matrix. The stock now faces overhead resistance at $57, while support sits at $51. |
| MELI Mercadolibre, Inc. ($1,378.98) - Internet - MELI completed a bullish triangle pattern at 1360 before moving higher to 1376, marking the second consecutive buy signal. MELI is a 4 for 5’er that has maintained a long-term market RS buy signal since April 2016. From here, support sits at 1280 while resistance sits at 1488. |
| NEM Newmont Corp ($60.91) - Precious Metals - Gold was down once again in Thursday's trading and NEM printed an additional O on its default chart, a move which will put the stock in a negative overall trend and drop it to an unfavorable 2 for 5'er. From here, the next level of support sits at $59. Potential short sellers should note that NEM carries a 2.48% yield. |
| SCVL Shoe Carnival Inc ($36.15) - Retailing - SCVL broke a double top at $38, marking the second consecutive buy signal on the chart, confirming that demand is in control. SCVL is a 3 for 5’er within the favored retailing sector that has support available at $34. |
| SPSC SPS Commerce Inc ($95.13) - Software - SPSC pushed higher Thursday to break a triple top at $95, which also marked a new all-time high. This 5 for 5'er moved to a positive trend in April and ranks in the top quintile of names in the software sector RS matrix. The overall technical picture is sound here and continues to improve. Exposure may be considered at current levels, or on a pullback as the stock is entering overbought territory. Initial support can be found at $90, with further support offered at $88. |
