ALLK, ISRG, BC, HZO, MTOR, ADBE, WDC, SEAS, LPSN, & CXO.
| ADBE Adobe Systems Incorporated ($503.69) - Software - Shares of ADBE moved higher Friday to break a triple top at $504. This 3 for 5'er moved to a positive trend in April and has been on an RS buy signal against the market since mid-2015. Weekly momentum flipped positive as well, suggesting the potential for further upside from here. The overall weight of the evidence is still positive here and once again improving. Initial support can be found at $472. Further support can be found at $448, which is also the current location of the bullish support line, and at $440. |
| ALLK Allakos, Inc. ($128.27) - Drugs - ALLK shares moved higher today to break a double top at $130 to mark its fourth consecutive buy signal. This 5 for 5'er has been in a positive trend since November and on an RS buy signal versus the market since August. Recent price action has put ALLK 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 is offered at $120. |
| BC Brunswick Corporation ($81.39) - Leisure - BC broke a double top at $79 before moving higher to $82 on Friday, marking the stock’s fourth consecutive buy signal as well as a new all-time high. BC is a 4 for 5’er within the favored leisure sector. From here, support sits at $74. |
| CXO Concho Resources Inc. ($59.56) - Oil - CXO gave a initial sell signal when it broke a double bottom at $60 on Friday. The overall picture for CXO remains positive as it is a 3 for 5'er and returned to a positive trend in November. From here, support sits at $57, with additional support at $56. |
| HZO Marinemax ($35.82) - Leisure - HZO broke a triple top at $36, which successfully completed a shakeout pattern on the chart. HZO is a 4 for 5’er within the favored leisure sector that is trading in a positive trend. Additionally, HZO is now up against its all-time high last reached in April 2006. From here, support sits at $31. |
| ISRG Intuitive Surgical, Inc. ($780.62) - Healthcare - ISRG shares moved higher today to break a double top at $784 to complete a bullish triangle and 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 January of 2016. ISRG is actionable at current levels with a weekly overbought/oversold reading of 33%. From here, support is offered at $752. |
| LPSN LivePerson, Inc. ($63.51) - Computers - Shares of LPSN continued higher Friday to break a double top at $61 before moving to a new all-time high at $64 intraday. This 3 for 5'er moved to a positive trend in May and saw weekly momentum just flip positive, suggesting the potential for further upside from here. The weight of the evidence is positive and improving. Those looking to add exposure may consider LPSN at current levels, with initial support offered at $57. Multiple additional support levels exist between $55 and $46. |
| MTOR Meritor Inc ($28.30) - Autos and Parts - MTOR broke a double top at $29, marking the third consecutive buy signal on the chart. This stock is a 4 for 5’er within the favored autos and parts sector. Weekly momentum has been positive for three weeks, suggesting the potential for higher prices. From here, support sits at $25. |
| SEAS SeaWorld Entertainment, Inc. ($31.13) - Leisure - SEAS broke a double top at $31, marking the sixth consecutive buy signal on the chart. SEAS is a strong 5 for 5’er within the favored leisure sector. From here, support sits at $26. |
| WDC Western Digital Corporation ($53.19) - Computers - WDC advanced Friday to break a double top at $54, marking a third consecutive buy signal. This 3 for 5'er moved to a positive trend in October and sits in the top third of the favored computers sector RS matrix. The technical picture remains 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 is overbought. Initial support can be found at $50. |
