AMCX, MCRI, NFLX, RCL, VAC, BBIO, CREE, & EPAM.
| AMCX AMC Networks Inc ($35.99) - Media - AMCX broke double top at $36 on Thursday, marking the stock’s second consecutive buy signal. AMCX is a 3 for 5’er within the favored media sector that ranks 4th out of 45 names in the sector RS matrix. From here, support sits at $31. |
| BBIO BridgeBio Pharma, Inc. ($71.08) - Biomedics/Genetics - BBIO shares moved higher today to break a double top at $71 mark its sixth consecutive buy signal and reach a new all-time high. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since September. Recent price action has put BBIO 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 $67. |
| CREE Cree Research Inc ($106.20) - Semiconductors - CREE continued higher Thursday to break a triple top at $106, marking its sixth consecutive buy signal before continuing to a new all-time high at $108 intraday. This 5 for 5'er moved to a positive trend in April and ranks 5th out of 60 names in the semiconductors sector RS matrix. The overall weight of the evidence is overwhelmingly positive here, however, the recent price appreciation has left CREE in overbought territory. Those looking to add exposure would be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $97, with three additional support levels found in the $87 to $91 range. Note that earnings are expected on 1/27. |
| EPAM Epam Systems Inc ($359.29) - Software - EPAM continued higher Thursday to break a spread quadruple top at $360, which also marked a new all-time high. This 4 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 been on an RS buy signal against the market since mid-2013. The weight of the evidence is positive here. Exposure may be considered on this breakout, with initial support offered at $336. Four additional support levels can be found from $304 to $316. |
| MCRI Monarch Casino & Resort, Inc. ($60.84) - Gaming - MCRI broke a double top at $61 on Thursday, marking the stock’s fifth consecutive buy signal as well as a new all-time high. MCRI is a 3 for 5’er within the favored gaming sector that has support available at $57. |
| NFLX NetFlix Inc. ($535.85) - Internet - NFLX completed a bullish catapult pattern on Thursday with a double top breakout at $544. NFLX is a 3 for 5’er within the internet sector that has experienced three weeks of positive weekly momentum. From here, NFLX has support available at $512 and faces resistance at $568, its all-time high last reached in October. Earnings are expected on 1/19. |
| RCL Royal Caribbean Cruises Ltd. ($75.30) - Leisure - RCL returned to a buy signal with a double top at $75. This stock is a solid 4 for 5’er within the favored leisure sector that is trading in a positive trend. From here, support sits at $69 while RCL faces resistance at $84. |
| VAC Marriott Vacations Worldwide Corporation ($138.62) - Leisure - VAC returned to a buy signal with a triple top breakout at $138. This stock is a 3 for 5’er within the favored leisure sector that has support available at $128. |
