CADE, MKSI, PAYX, THC, STX, MS, ITRI, AAL, AEO, GPI, TDG, LAD, LYV, MTN, PII, UAL, APA, CE, & FANG.
| AAL American Airlines Group Inc. ($21.82) - Aerospace Airline - AAL broke a triple top at $22, marking the stock’s fifth consecutive buy signal. AAL is a 4 for 5’er within the favored aerospace airline sector that ranks 11th out of 44 names in the sector stock matrix. From here, support sits at $19. |
| AEO American Eagle Outfitters, Inc. ($26.71) - Retailing - AEO broke a double top at $26, marking a new 52 week high as well as the fourth consecutive buy signal. AEO is a perfect 5 for 5’er within the favored retailing sector hat expects earnings on 3/3. Support sits at $22. |
| APA Apache Corporation ($20.81) - Oil - APA gave a second consecutive buy signal when it completed a bullish catapult in Wednesday's trading. APA's technical picture has improved in recent days as the stock is now a favorable 3 for 5'er; it also ranks in the top third of the oil sector matrix. Those interested in adding exposure should note that today's move puts APA in heavily overbought territory. |
| CADE Cadence Bancorporation Class A ($21.68) - Banks - CADE shares moved higher today to break a double top at $22 to mark its fifth consecutive buy signal. This 4 for 5'er has been in a positive trend since November and on an RS buy signal versus the market since May. Recent price action has put CADE into heavily overbought territory, so those wishing to initiate a position may be best served to scale in at current levels. From here, support is offered at $18. Note that CADE offers a 2.82% yield. |
| CE Celanese Corporation ($141.21) - Chemicals - CE returned to a buy signal in Wednesday's trading with a double top break at $142. The weight of the evidence is positive for CE as it is a 3 for 5'er trading in a positive trend. However, it ranks in the bottom half of the chemicals sector matrix, so those looking for exposure to sector may be able to find a stronger name. CE also carries a 2% yield. |
| FANG Diamondback Energy Inc ($73.80) - Oil - FANG returned to a buy signal in Wednesday's trading when it broke a double top at $73. FANG's outlook is positive a is it is a 4 for 5'er that ranks in the top quintile of the favored oil sector matrix. However, potential longs should note that today's move puts the stock in heavily overbought territory. FAN carries a 2.25% yield. |
| GPI Group 1 Automotive, Inc. ($157.67) - Autos and Parts - GPI broke a double top at $152 on Wednesday before moving higher to $158. GPI is a strong 4 for 5’er within the favored autos and parts sector that has maintained a long-term peer RS buy signal since May 2019. From here, support sits at $142 while GPI faces resistance at $160. |
| ITRI Itron Inc ($115.28) - Electronics - ITRI moved higher after its earnings release Wednesday to break a double top at $108 before reaching a new all-time high at $118 intraday. This 3 for 5'er moved to a positive trend in October and ranks in the top half of the favored electronics sector RS matrix. While the weight of the evidence is positive here, those looking to add exposure may be best served to wait for a pullback or normalization of the trading band as the stock has now entered overbought territory. Initial support can be found at $95. |
| LAD Lithia Motors Inc-Cl A ($387.15) - Autos and Parts - LAD returned to a buy signal at $384 before moving higher to $388. This stock is a 4 for 5’er within the autos and parts sector that has maintained a long-term market and peer RS buy signal since April 2019. Monthly momentum just flipped positive, suggesting the potential for higher prices. From here, support sits at $348. |
| LYV Live Nation Entertainment Inc. ($90.49) - Leisure - LYV broke a double top at $92, marking a new all-time high on the chart a day ahead of expected earnings. This stock is a 3 for 5’er within the favored leisure sector that has maintained a long-term market RS buy signal since June 2013. Weekly momentum has been positive for three weeks, suggesting the potential for higher prices. From here, support sits at $87. Note LYV is heavily overbought at current levels. |
| MKSI MKS Instrument, Inc. ($176.60) - Electronics - MKSI moved higher Wednesday to complete a bullish triangle at $172 before moving to $176 intraday. This 3 for 5'er moved to a positive trend in April and ranks in the top half of the favored electronics sector RS matrix. The weight of the technical evidence is positive here. Initial support can be found at $162, with further support offered at $158 and $148. |
| MS Morgan Stanley ($79.88) - Wall Street - MS shares moved higher to break a double top at $78 and continued higher to $80 to mark its third consecutive buy signal. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since June of 2013. MS is actionable at current levels with a weekly overbought/oversold reading of 55%. From here, support is offered at $67. |
| MTN Vail Resorts Inc ($319.72) - Leisure - MTN broke a double top at $316 before moving higher to $320, marking a new all-time high on the chart. MTN is a perfect 5 for 5’er within the favored leisure sector that has maintained a long-term market RS buy signal since March 2015. Furthermore, MTN is trading well above the bullish support line. From here, support sits at $300. Earnings are expected on 3/11. |
| PAYX Paychex, Inc. ($93.36) - Business Products - PAYX advanced Wednesday to break a second consecutive double top at $93. This 3 for 5'er moved to a positive trend in April and saw weekly momentum recently flip positive, suggesting the potential for further upside from here. The overall weight of the evidence is positive here and improving. Exposure may be considered at current levels, with initial support offered at $88. Further support can be found at $87 and $86 with the bullish support line currently found at $85. Note that PAYX also carries a 2.74% yield. |
| PII Polaris Inc. ($126.11) - Leisure - PII is a perfect 5 for 5’er within the favored leisure sector that completed a bullish triangle pattern today with a double top buy signal at $126. From here, support sits at $116 while PII faces overhead resistance at $128. |
| STX Seagate Technology ($74.34) - Computers - Shares of STX pushed higher Wednesday to complete a bullish triangle at $75 before reaching $76 intraday. This 3 for 5'er moved to a positive trend in October and ranks in the top third of the favored computers sector RS matrix. The stock has also maintained an RS buy signal against the market since early-2017. Weekly and monthly momentum are each positive, which suggests the potential for further upside from here. Those looking to add exposure may consider STX on this breakout, with initial support offered at $71. Further support can be found at $66. Note that the stock also carries a 3.65% yield. |
| TDG TransDigm Group, Inc. ($609.15) - Aerospace Airline - Shares of TDG climbed higher on Wednesday, breaking a sextuple top at $624, returning the stock to a buy signal after an elongated period of consolidation. The 4 for 5'er resides in the now favored aerospace airline sector and demonstrates favorable long-term relative strength versus the market, remaining on an RS buy signal since November of 2008. In addition, weekly momentum recently flipped to positive, furthering the positive technical picture. Demand is in control and TDG is actionable at current levels. Initial support is offered at around $568. |
| THC Tenet Healthcare Corporation ($52.85) - Healthcare - THC shares moved higher today to break a double top at $53 to mark its sixth consecutive buy signal. This 5 for 5'er has been in a positive trend and on an RS buy signal versus the market since July. THC is actionable at current levels with a weekly overbought/oversold reading of 48%. From here, support is offred at $49. |
| UAL United Airlines Holdings Inc. ($54.96) - Aerospace Airline - UAL broke a spread triple top at $52 before moving higher to $55. UAL is a 2 for 5’er within the aerospace airline sector that has experienced two weeks of positive weekly momentum. From here, support sits at $47. |
