AL, AMZN, ASH, CCK, GES, INTU, LAD, LSCC, LYV, MCRI, NTLA, PGNY, RAMP, ROKU & RUN
| AL Air Lease Corp. ($43.38) - Aerospace Airline - Shares of AL broke a double top at $44 on Monday, completing a bullish catapult pattern. The 4 for 5'er ranks in the top quartile of the favored aerospace and airline stock sector matrix and recently returned to an RS buy signal versus the market last week. Demand is in control and AL is actionable at current levels. Further bullish confirmation would come with a move past its February high of $46 while initial support is offered around $40. |
| AMZN Amazon.com Inc. ($3,288.60) - Internet - AMZN broke a double top at 3264, marking the third consecutive buy signal on the chart. This stock is a 3 for 5’er within the internet sector that has been trading in a positive trend since January 2015. Furthermore, AMZN has maintained a long-term market RS buy signal since April 2007. From here, support sits at 3104, the bullish support line. |
| ASH Ashland Inc. ($79.04) - Chemicals - ASH gave a fourth consecutive buy signal when it broke a double top at $80 on Monday. Despite the positive action on its chart, the weight of the evidence remains negative as ASH is a 1 for 5'er that ranks in the bottom quintile of the favored chemicals sector matrix. Those looking for exposure to the sector should have little trouble finding a stronger name. ASH faces overhead resistance at $83, while it has most recently found support at $76. The stock carries a 1.4% yield |
| CCK Crown Holdings, Inc. ($97.78) - Business Products - CCK returned to a buy signal with a double top break at $99 in Monday's trading. The stock now sits against strong resistance at $99, a level it has failed to breakthrough on three previous occasions. CCK is a 3 for 5'er and ranks in the top quintile of the favored business products sector matrix. |
| GES Guess Inc. ($21.30) - Textiles/Apparel - GES broke a double top at $21 on Monday, marking the stock’s fourth consecutive buy signal. This stock is a perfect 5 for 5’er within the favored textiles/apparel sector. From here, support sits at $18. |
| INTU Intuit Inc. ($381.09) - Software - INTU moved higher Monday to break a double top at $384, marking a third consecutive buy signal and a new all-time high. This 4 for 5'er moved to a positive trend in September and has been on an RS buy signal against the market since 2008. The weight of the technical evidence is positive here. Exposure may be considered on this breakout, with initial support offered at $360. Further support can be found at $340, which is also the current location of the bullish support line. |
| LAD Lithia Motors Inc-Cl A ($299.30) - Autos and Parts -LAD returned to a buy signal on Monday with a double top breakout at $300 before moving higher to $304. This stock is a 4 for 5’er within the favored autos and parts sector that has maintained a long-term market RS buy signal since April 2019. From here, support sits at $280 while resistance lies at $308. |
| LSCC Lattice Semiconductor Corp ($44.95) - Semiconductors - LSCC continued higher Monday to break a double top at $45, marking a sixth consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in March and ranks 6th out of 60 names in the semiconductors RS matrix, confirming its strength relative to its peers. The stock has also been on an RS buy signal against the market since mid-2018. Those looking to add exposure may consider LSCC at current levels, with initial support offered at $41 and further support found at $38. |
| LYV Live Nation Entertainment Inc. ($74.64) - Leisure - LYV broke a triple top at $75 on Monday, putting the stock just one point off its all-time high from February 19. LYV is a 3 for 5’er in the favored leisure sector that has completed three consecutive buy signals, confirming that demand is in control. Furthermore, LYV has maintained a long-term market RS buy signal since June 2013. From here, support sits at $71. |
| MCRI Monarch Casino & Resort, Inc. ($59.74) - Gaming - MCRI broke a double top at $60 on Monday and is now trading at new all-time highs. This stock is a 3 for 5’er within the favored gaming sector that is trading in a positive trend. From here, support sits at $55. |
| NTLA Intellia Therapeutics Inc. ($62.74) - Drugs - NTLA shares moved higher today to break a double top at $69 to mark its eighth 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 November. Recent price action has put NTLA 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 $61. |
| PGNY Progyny, Inc. ($42.17) - Healthcare - PGNY shares moved higher today to break a double top at $44 to mark its third consecutive buy signal and reach a new all-time high. 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 PGNY 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 $39. |
| RAMP Liveramp Holdings Inc. ($73.30) - Business Products - Shares of RAMP moved higher Monday to break a double top at $74. This also broke through the stock's bearish resistance line, moving RAMP into a positive trend and improving it to possess 4 out of the 5 possible technical attributes. Weekly momentum recently flipped positive as well, suggesting the potential for further upside from here. Initial support can be found at $68 with further support offered at $67. Note that further resistance may come at the all-time high of $80 last seen in November. |
| ROKU Roku, Inc. Class A ($345.61) - Media - After forming a double top at $360 on Monday, shares of ROKU broke a double bottom at $344 before moving lower to $340. This action sets the chart up for a potential shakeout pattern. From here, the shakeout pattern would activate with a three-box reversal up into Xs and the pattern would then complete with a triple top breakout at $364. From here, further support sits at $332. ROKU is a healthy 5 for 5’er within the favored media sector. |
| RUN Sunrun Inc ($68.46) - Utilities/Electricity - RUN broke a double top $72 before moving higher to $74, marking the stock’s sixth consecutive buy signal. This stock is a 4 for 5’er within the utilities/electricity sector that has support offered at $67. |
