AMZN, BRKS, CLCT, CVNA, KNSL, MATX, MTSI, NOW & SHAK
| AMZN Amazon.com Inc. ($3,197.38) - Internet - AMZN broke a bullish triangle at 3200, marking the second consecutive buy signal on the chart. AMZN is a 3 for 5’er within the intenet sector that has maintained a positive trend since January 2015. From here, support sits at 3072, the bullish support line. |
| BRKS Brooks Automation Inc ($72.97) - Semiconductors - Shares of BRKS reversed up into a column of Xs Friday and completed a bullish triangle at $72, marking a third consecutive buy signal before reaching a new all-time high at $73 intraday. This 4 for 5'er moved to a positive trend in April and ranks 5th out of 60 names in the semiconductors RS matrix. The overall technical picture is strong here, however, those looking to add exposure would be best served to wait for a pullback or normalization of the trading band as the stock has entered overbought territory. Initial support can be found at $68 with further support found at $65. |
| CLCT Collectors Universe, Inc. ($72.51) - Retailing - CLCT broke a spread triple top at $74 on Friday before moving higher to $76, marking a new all-time high for the stock. CLCT is a perfect 5 for 5’er within the favored retailing sector that moved into a positive trend in April. From here, support sits at $69. |
| CVNA Carvana Company ($249.30) - Autos and Parts - CVNA is a 4 for 5’er within the favored autos and parts sector. On Friday, CVNA broke a double top at $248, marking the third consecutive buy signal on the chart as well as a new all-time high. Weekly momentum just flipped positive, adding to the positive technical picture. From here, support sits at $232. |
| KNSL Kinsale Capital Group Inc ($238.52) - Insurance - KNSL shares moved higher today to break a double top at $240 to mark its fourth consecutive buy signal and reach a new all-time high. This 4 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February. Recent price action has put KNSL into heavily overbought territory and those wishing to initiate a long position may be best served to wait for a pullback or normalization within the trading band. From here, support is offered at $224 with further support at $208. |
| MATX Matson Inc ($58.92) - Transports/Non Air - Shares of MATX pulled back on Friday, reversing down into a column of Os from its all-time chart high of $62. The 5 for 5'er ranks first out of 45 names in the transports/non air stock sector matrix and recently returned to an RS buy signal versus the market last month. The weight of the evidence is positive and MATX is actionable at current levels. Initial support is offered around $57. |
| MTSI MACOM Technology Solutions Holdings Inc. ($45.01) - Semiconductors - Shares of MTSI advanced Friday to break a spread triple top at $45, marking a new multi-year high. This 4 for 5'er moved to a positive trend in April and has been on an RS buy signal against the market since mid-2019. The overall technical picture is strong here, however, MTSI has become overbought so those looking to add exposure may be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $41. |
| NOW Servicenow Inc ($526.62) - Software - NOW moved higher Friday to break a double top at $528. 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 2013. Exposure may be considered on this breakout, with initial support offered at $496. Further support can be found at $480. |
| SHAK Shake Shack Inc ($82.89) - Restaurants - SHAK returned to a buy signal on Friday with a double top breakout at $83. This stock is a healthy 4 for 5’er within the favored restaurants sector that has support offered at $76. |
