CDAY, WK, PEGA, AY, BEPC, BGFV, BJRI, CVNA, EAT, ETSY, GME, LE, MBUU, WGO, FATE, & WMS.
| AY Atlantica Sustainable Infrastructure PLC ($38.25) - Utilities/Electricity - AY, a 5 for 5’er, broke a double top at $38 on Tuesday and is now trading at new multi-year highs. Today’s breakout marks the fourth consecutive buy signal since March, confirming that demand is in control. Additionally, weekly momentum has been positive for two weeks, adding to the positive technical picture. From here, support sits at $33. |
| BEPC Brookfield Renewable Corporation Class A ($57.16) - Utilities/Electricity - BEPC broke a double top at $54 before moving higher to $57. As a result, BEPC is now trading on a Point & Figure buy signal at new all-time highs. This stock is a 3 for 5’er in the utilities/electricity sector that is trading in a positive trend. From here, support sits at $46. Note BEPC is entering overbought territory and yields 2.21%. |
| BGFV Big 5 Sporting Goods Corp. ($11.48) - Retailing - BGFV broke a double top at $11 before moving higher to $11.50. This stock is a 4 for 5’er that has given five consecutive buy signals. From here, support sits at $8. |
| BJRI BJ's Restaurants Inc. ($39.75) - Restaurants - BJRI returned to a buy signal on Tuesday when it broke a double top at $38 before moving higher to $39. BJRI is a 3 for 5’er within the favored restaurants sector that moved into a positive trend in July. From here, support sits at $33. |
| CDAY Ceridian HCM Holding, Inc. ($103.92) - Software - CDAY rose Tuesday to break a spread quadruple top at $102 before reaching a new all-time high at $104 intraday. This 5 for 5'er moved to a positive trend in April and ranks in the top half of the software sector RS matrix. The stock has also maintained an RS buy signal against the market since 2018. The weight of the evidence is positive here. Those looking to add exposure to CDAY may consider the stock on this breakout. Initial support is offered at $95, which is also the current location of the bullish support line. Further support may be found at $92. |
| CVNA Carvana Company ($287.84) - Autos and Parts - CVNA broke a double top at $280 before moving higher to $288, marking the stock’s third consecutive buy signal in addition to a new all-time high. CVNA is a perfect 5 for 5’er within the favored autos and parts sector that moved into a positive trend in April. From here, support sits at $264. |
| EAT Brinker International Inc ($58.37) - Restaurants - EAT broke a double top at $57 before moving higher to $58 which successfully completed a bullish catapult pattern on the chart. EAT is a perfect 5 for 5’er within the favored restaurants sector that continues to trade well above its bullish support line. From here, support sits at $53. |
| ETSY Etsy Inc ($196.59) - Retailing - ETSY broke a double top at $194 on Tuesday before moving higher to $198, marking a new all-time high on the chart. Today’s breakout marks the fifth consecutive buy signal on the chart, signaling that demand is in control. ETSY is a 4 for 5’er within the favored retailing sector that is now entering overbought territory. From here, support sits at $186. |
| FATE Fate Therapeutics, Inc, ($100.50) - Biomedics/Genetics - FATE shares moved higher today to break a double top at $96 to mark its second consecutive buy signal and continued higher to $102. This 5 for 5'er has been in a positive trend since September and on an RS buy signal versus the market since January. Recent price action has put FATE 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 $92. |
| GME GameStop Corporation ($19.39) - Retailing - GME returned to a buy signal on Tuesday with a double top breakout at $18 before rallying to $20, marking a new multi-year high on the chart. This stock is a 3 for 5’er within the favored retailing sector that has experienced two weeks of positive weekly momentum. From here, support sits at $12.50. |
| LE Lands' End, Inc ($19.17) - Retailing - LE completed a bullish triangle pattern on Tuesday with a double top breakout at $21. This marks the stock’s fifth consecutive buy signal. From here, support sits at $18.50 while LE faces resistance at $25. |
| MBUU Malibu Boats Inc. ($67.71) - Leisure - MBUU broke a double top at $68 and is now trading at new all-time highs. MBUU is a 3 for 5’er within the favored leisure sector that has maintained a long-term peer RS buy signal since February 2017. From here, support sits at $62. |
| PEGA Pegasystems Inc ($138.01) - Software - Shares of PEGA rose Tuesday to break a spread triple top at $136 before hitting $138 intraday, marking a new all-time high. This 5 for 5'er moved to a positive trend in April and has maintained an RS buy signal against the market since mid-2015. The stock also sits in the top half of the software sector RS matrix. Weekly momentum recently flipped positive as well, suggesting the potential for further upside from here. Exposure may be considered on this breakout, with initial support offered at $122. Further support can be found at $118 and $114. |
| WGO Winnebago Industries, Inc. ($65.98) - Leisure - WGO broke a double top at $65 before moving higher to $66, marking the fifth consecutive buy signal on the chart. WGO is a 5 for 5’er within the leisure sector that moved into a positive trend last month. From here, support sits at $61 while WGO faces resistance at $67. |
| WK Workiva Inc. ($93.19) - Internet - WK moved higher Tuesday to break a double top at $92 before reaching a new all-time high at $93 intraday. This 5 for 5'er moved to a positive trend in June and ranks 7th out of 54 names in the internet sector RS matrix. The stock has also been on an RS buy signal against the market since late-2017. The weight of the technical evidence is positive here, however, the recent price appreciation has left WK in heavily overbought territory. Initial support can be found at $87 with further support offered at $73, $68 and $67. |
| WMS Advanced Drainage Systems Inc. ($81.37) - Machinery and Tools - Shares of WMS continued higher on Tuesday, breaking a double top at $81 to give a second consecutive buy signal and post a new all-time chart high. The 5 for 5'er ranks in the top half of the favored machinery and tools stock sector matrix and demonstrates positive long-term relative strength versus the market. Demand remains in control. Initial support is offered at around $73. |
