BAC, FLGT, CCK, ALGT, CAL, GPI, TSLA, DAR, V, & MSTR.
| ALGT Allegiant Travel Company ($185.16) - Aerospace Airline - ALGT completed a spread triple top buy signal on Wednesday, marking the stock’s second consecutive buy signal. ALGT is a 4 for 5’er within the favored aerospace airline sector. From here, support sits at $178. Earnings are expected on 1/27/21. |
| BAC Bank of America ($30.06) - Banks - BAC broke through prior resistance going back to June with a move to $30. This 4 for 5'er has been in a positive trend since June and on an RS buy signal versus the market since March of 2012. Recent price action has put BAC into heavily overbought territory, so those wishing to initiate a position may be best served to wait for a pullback or price normalization. Support is offered at $23 with overhead resistance at $35. BAC offers a yield of 2.39%. |
| CAL Caleres Inc. ($15.35) - Textiles/Apparel - CAL broke a double top at $15, which marks the stock’s second consecutive buy signal. CAL is a 5 for 5’er within the favored textiles/apparel sector that just experienced a flip to positive weekly momentum. From here, support sits at $11.50. |
| CCK Crown Holdings, Inc. ($100.01) - Business Products - CCK broke a spread quadruple top at $100 in Wednesday's trading, taking out resistance that had been in place since November and marking new all-time high for the stock. The technical picture for CCK is positive as it is a 3 for 5'er that ranks in the top quintile of the favored business products sector matrix. It also sits one box away from returning to a market RS buy signal for the first time since 2017, which would elevate it to a 4 for 5'er. The first sell signal would come with a move to $94. |
| DAR Darling Ingredients Inc. ($58.88) - Food Beverages/Soap - Shares of DAR sharply advanced on Wednesday, reversing up into a column of Xs to give an eighth consecutive buy signal and print a new all-time chart high. The 5 for 5'er ranks in the top decile of the food beverages/soap stock sector matrix and has been on an RS buy signal versus the market for over two years now. The weight of the evidence is positive; however, those looking to initiate new long exposure may look for a pullback from current levels. Initial support is offered around $54. |
| FLGT Fulgent Genetics Inc ($50.87) - Biomedics/Genetics - FLGT shares pushed higher today to break a double top at $52 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 April. FLGT is actionable at current levels with a weekly overbought/oversold reading of 31%. From here, support is offered at $43. |
| GPI Group 1 Automotive, Inc. ($130.26) - Autos and Parts - GPI returned to a buy signal with a double top breakout at $128 before moving higher to $130. GPI is a 3 for 5’er within the favored autos and parts sector that has support offered at $116. |
| MSTR MicroStrategy Inc ($389.97) - Software - Shares of MSTR reversed up into a column of Xs Wednesday and broke a double top at $380, marking a fourth consecutive buy signal and its highest level since 2000. This 4 for 5'er ranks 1st out of 120 names in the software sector RS matrix and has been in a positive trend since July. The weight of the technical evidence is overwhelmingly positive here, however, MSTR is now in heavily overbought territory 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 $344 with further support found at $324, $288, $280 and $276. Note that earnings are expected on 1/26/2021. |
| TSLA Tesla Inc. ($694.00) - Autos and Parts - TSLA broke a double top at $688 before moving higher to $696 today, marking the stock’s fourth consecutive buy signal and new all-time high. TSLA is a perfect 5 for 5’er that ranks #1 out of 53 names in the favored autos and parts sector. TSLA expects earnings on 1/27/21. From here, support sits at $656. |
| V Visa Inc. ($218.36) - Finance - V moved higher Wednesday to break a spread quadruple top at $220, which also marked a new all-time high. This 4 for 5'er moved to a positive trend in November and has been on an RS buy signal against the market since 2012. The overall weight of the evidence is positive here. Exposure may be considered at current levels, with initial support offered at $204. Note that earnings are expected on 1/28/2021. |
