
CDXC, CHDN, CVLT, DISCK, JPM, LAD, LPLA, OMI, PAR, RPM, SMPL, TOL, UBER & VAC
CDXC Chromadex Corp. ($11.08) - Forest Prods/Paper - CDXC completed a bullish triangle pattern with a double top breakout at $13.50 before moving higher to $14.50. This stock has given four consecutive buy signals and is an acceptable 3 for 5’er within the favored forest prods/paper sector. Furthermore, monthly momentum has been positive for two months, adding to the positive technical picture. From here, support sits at $10.50. Note CDXC reports earnings after today’s market close. |
CHDN Churchill Downs Inc ($247.97) - Gaming - CHDN hit a new all-time high today when it broke a double top at $248. CHDN is a 4 for 5’er within the gaming sector that has maintained a market RS buy signal since March 2015. From here, support sits at $220. |
CVLT Commvault Systems, Inc. ($67.29) - Software - Shares of CVLT moved higher Wednesday to break a double top at $68. This 4 for 5'er moved to a positive trend in July and ranks 6th out of 128 names in the software sector RS matrix. The weight of the evidence is positive here. Initial support can be found at $59, with further support offered at $57 and $54. Overhead resistance may be found at the multi-year high of $72 from last month. |
DISCK Discovery Communications Inc. 'C' ($56.00) - Media - DISCK broke a double top at $56 and is now trading at new all-time highs. This marks the fifth consecutive buy signal on the chart, confirming that demand is in control. DISCK ranks 5th out of 50 names in the media sector and has all five attributes in its favor. Demand is in control however the stock is more than 160% overbought here. Initial support sits at $52. |
JPM J.P. Morgan Chase & Co. ($155.15) - Banks - JPM shares moved higher today to break a triple top at $156 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 November of 2016. JPM is actionable at current levels with a weekly overbought/oversold reading of 68%. From here, support is offered at $148. |
LAD Lithia Motors Inc-Cl A ($396.11) - Autos and Parts - LAD broke a spread triple top at $392 before moving higher to $396, marking a new all-time high on the chart. LAD is a 4 for 5’er within the autos and parts sector that has maintained a long-term market RS buy signal since April 2019. Additionally, monthly momentum has been positive for two months. From here, support sits at $376. |
LPLA LPL Investment Holdings Inc ($140.30) - Finance - LPLA shares moved higher today to break a double top at $140 to mark its eighth consecutive buy signal and reach a new all-time high. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since January. Recent price action has put LPLA 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 $130. |
OMI Owens & Minor Incorporated ($36.67) - Healthcare - OMI shares moved higher today to break a double top at $36 to mark its second consecutive buy signal. This 5 for 5'er has been in a positive trend since July and on an RS buy signal versus the market since March of 2020. OMI is actionable at current levels with a weekly overbought/oversold reading of 32%. From here, support is offered at $30. |
PAR Par Technology Corporation ($76.25) - Computers - PAR reversed up into a column of X's Wednesday and broke a double top at $75 before continuing to $77 intraday. This 4 for 5'er moved to a positive trend in May of last year and ranks in the top third of the computers sector RS matrix. The technical picture is once again improving. Initial support can be found at $70 with further support offered at $67 and $63, the current location of the bullish support line. Overhead resistance may come at the all-time high of $90. Note that PAR has earnings expected on 3/15. |
RPM RPM, Inc. ($88.14) - Chemicals - RPM returned a buy signal in Wednesday's trading after giving three consecutive sell signals since December. Despite the weakness in recent months, RPM's overall technical picture is positive as it is a 3 for 5'er, trading in a positive trend, and has been on a market RS buy signal since 2001. RPM carries a 1.8% yield and is expected to report earnings on 4/7. |
SMPL Simply Good Foods Co ($33.92) - Retailing - SMPL completed a bullish triangle on Wednesday with a double top breakout at $32 before moving higher to $34, marking a new all-time high on the chart as well as the fourth consecutive buy signal. SMPL just experienced a flip to positive weekly momentum and has 3 out of 5 attributes in its favor. From here, support sits at $28. Earnings are expected on 4/5. |
TOL Toll Brothers, Inc. ($57.84) - Building - TOL completed a shakeout pattern today with a triple top buy signal at $57 before moving higher to $58, which matches the stock’s all-time high last reached in July 2005. TOL is a 4 for 5’er within the favored building sector that is trading well above the bullish support line. Additionally, monthly momentum just flipped positive, adding to the positive technical picture. Initial support sits at $50. |
UBER Uber Technologies, Inc. ($57.61) - Retailing - UBER broke a double top at $58, marking the second consecutive buy signal on the chart. UBER is a perfect 5 for 5’er as all of its trending and RS characteristics are positive here. From here, support sits at $51, the bullish support line. |
VAC Marriott Vacations Worldwide Corporation ($185.54) - Leisure - VAC broke a double top at $190 and as a result, is now trading at new all-time highs. Today’s breakout marks the second consecutive buy signal for this perfect 5 for 5’er that is a member of the favored leisure sector. Demand is in control, but VAC is heavily overbought at current levels. Initial support sits at $182. |