AGCO, BLNK, CHDN, DFS, DKNG, DOMO, DRI, GKOS, IMVT, SNX & YETI.
| AGCO AGCO Corporation ($97.81) - Machinery and Tools - AGCO returned to a buy signal on Wednesday with a double top break at $97 and continued higher to $98, now just one box away from matching its all-time chart high. The 4 for 5'er ranks in the top quartile of the favored machinery and tools stock sector matrix and recently returned to an RS buy signal versus the market last month. Demand is in control. Initial support is offered around $89. |
| BLNK Blink Charging Co ($31.61) - Autos and Parts - BLNK broke a spread quadruple top at $30 before moving higher to $31 on Wednesday. BLNK is a perfect 5 for 5’er within the favored autos and parts sector that ranks 4th out of 53 stocks in the sector RS matrix. From here, support sits at $26 while overhead resistance lies at $34. |
| CHDN Churchill Downs Inc ($203.44) - Gaming - CHDN broke a spread triple top at $204 and is now trading at new all-time highs. CHDN is a healthy 4 for 5’er within the favored gaming sector that has maintained a long-term market RS buy signal since March 2015. From here, support sits at $192. |
| DFS Discover Financial Services ($86.38) - Finance - DFS shares moved higher today to break a double top at $86 to mark its third consecutive buy signal. This 4 for 5'er has been in a positive trend since September and on an RS buy signal versus the market since May. Recent price action has put DFS into heavily overbought territory, so those wishing to take a long position may be best served to wait for a pullback or price normalization. From here, support can be found at $82. |
| DKNG DraftKings Inc Class A ($53.80) - Gaming - DKNG broke a triple top at $54 on Wednesday, flipping the overall trend back to positive. DKNG is now a 4 for 5’er within the favored gaming sector that has experienced four weeks of positive weekly momentum. From here, support sits at $48 while DKNG faces resistance at $64. |
| DOMO Domo, Inc. Class B ($60.46) - Software - DOMO reversed up into a column of Xs Wednesday and broke a double top at $58, before reaching a new all-time high at $60 intraday. This 5 for 5'er moved to a positive trend in April and ranks 8th out of 120 names in the software sector RS matrix. Weekly momentum recently flipped positive also, indicating the potential for higher prices. The overall weight of the evidence is positive here, however, recent price movement has left DOMO in heavily overbought territory so those looking to add exposure may be best served by waiting for a pullback or normalization of the trading band. Initial support is offered at $54, with further support potentially found at $43. |
| DRI Darden Restaurants, Inc. ($116.50) - Restaurants - DRI broke a double top at $116 before moving higher to $118, marking the stock’s second consecutive buy signal. DRI is a 4 for 5’er within the favored restaurants sector that is trading well above the bullish support line. From here, support sits at $106 while resistance lies at $124. DRI expects earnings on 12/18. |
| GKOS Glaukos Corp. ($72.11) - Healthcare - GKOS shares moved higher today to break a double top at $72 to mark its sixth consecutive buy signal. This 5 for 5'er has been in a positive trend since September and on an RS buy signal versus the market since October. Recent price action has put GKOS 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 offered at $67. |
| IMVT Health Sciences Acquisitions Corporation ($51.71) - Biomedics/Genetics - IMVT shares moved higher today to break a triple top at $52 to return to a buy signal. This 5 for 5'er has been in a positive trend and on an RS buy signal versus the market since March. With a weekly overbought/oversold reading of 27%, IMVT is actionable at current levels. From here, support can be found at $46. |
| SNX SYNNEX Corporation ($82.93) - Computers - Shares of SNX moved higher Wednesday to break a double top at $83, matching its all-time high from earlier this month. This 4 for 5'er moved to a positive trend in May and ranks in the top third of the favored computers sector RS matrix. Weekly momentum recently flipped positive as well, suggesting the potential for further upside from here. Those looking to add exposure may consider the stock at current levels, with initial support offered at $78. Further support can be found at $76, $75, and $73. Note that earnings are expected on 1/7. |
| YETI YETI Holdings, Inc. ($73.65) - Leisure - YETI is a perfect 5 for 5’er within the favored leisure sector. YETI broke a double top at $73 before moving higher to $74, marking a new all-time high in addition to the stock’s fourth consecutive buy signal. From here, support sits at $68. |
