In the Optionable Universe, this week we saw 36 relative strength buy signals compared to 35 last week. On the sell side, there were 66 relative strength sell signals compared to 52 last week.
Relative Strength Changes for the Week
Relative strength is a measure of how a stock is performing when compared to something else, in this case the S&P 500 Equal Weighted Index (SPXEWI). Each day the stock's closing price is divided by that of the SPXEWI, the resulting numbers decimal is moved two places and then plotted on a Point & Figure chart. Whenever the relative strength chart shows a double top buy signal (e.g. RS Buy or Positive Relative Strength), it suggests the stock is likely to outperform the market for the foreseeable future. Conversely, whenever the relative strength chart gives a double bottom sell signal (e.g. RS Sell or Negative Relative Strength) it suggests the stock will under-perform the market. Relative strength signals tend to last roughly 18 to 24 months on average. Consequently, changes from buy signals to sell signals (and vice versa) are important to be aware of as they are longer-term implications of a stock's likely performance versus the indices. Using the Point & Figure chart along with the relative strength chart will allow you to better ascertain risk-reward and other trade management tools, but we always want to over-weight our portfolios toward those stocks that are on RS buy signals, giving us the best chance of outperforming the broader market.
In the Optionable Universe, this week we saw 36 relative strength buy signals compared to 35 last week. On the sell side, there were 66 relative strength sell signals compared to 52 last week.
Stocks Moving to an RS Buy Signal
| Symbol | Company | Sector | Price | RS vs Market Signal | RS vs Market Column | RS vs Peer Signal | RS vs Peer Column | Tech Attrib |
|---|---|---|---|---|---|---|---|---|
| CFR | Cullen/Frost Bankers Inc | Banks | 112.610 | Buy | X | Buy | X | 4  |
| CRAI | Charles River Associates Incorporated | Industrial Goods & Svcs | 70.050 | Buy | X | Buy | X | 5 |
| FSP | Franklin Street Properties Corp. | Equity REITs | 6.430 | Buy | X | Sell | X | 4 |
| CLR | Continental Resources Inc. | Oil Companies Secondary | 29.710 | Buy | X | Buy | X | 5 |
| CFX | Colfax Corporation | Industrial Goods & Svcs | 47.110 | Buy | X | Sell | X | 4 |
| BOCH | Bank of Commerce Holdings | Banks | 12.090 | Buy | X | Sell | X | 3 |
| FBIZ | First Business Financial Services Inc | Banks | 25.350 | Buy | X | Sell | X | 3 |
| APTS | Preferred Apartment Communities Inc | Equity REITs | 10.220 | Buy | X | Sell | X | 4 |
| IBOC | International Bancshares Corporation | Banks | 49.340 | Buy | X | Buy | X | 4 |
| MCS | Marcus Corporation | Cyclical Goods and Services | 21.840 | Buy | X | Sell | X | 4 |
| PFS | Provident Financial Services, Inc. | Banks | 22.900 | Buy | X | Sell | X | 3 |
| PGC | Peapack Gladstone Financial Corporation | Banks | 29.460 | Buy | X | Sell | X | 3 |
| IBCP | Independent Bank Corp | Banks | 22.950 | Buy | X | Buy | X | 5 |
| RVSB | Riverview Bancorp, Inc. | Banks | 7.280 | Buy | X | Sell | X | 4 |
| SXI | Standex International Corp | Industrial Goods & Svcs | 104.570 | Buy | X | Sell | X | 4 |
| JCI | Johnson Controls International PLC | Industrial Goods & Svcs | 59.220 | Buy | X | Buy | X | 4 |
| UNM | UNUMProvident Corporation | Insurance | 28.500 | Buy | X | Sell | X | 4 |
| URBN | Urban Outfitters, Inc. | Retail | 37.220 | Buy | X | Sell | X | 4 |
| USCR | US Concrete Inc | Construction | 65.870 | Buy | X | Buy | X | 5 |
| FANG | Diamondback Energy Inc | Oil Companies Major | 81.030 | Buy | X | Buy | X | 5 |
| AHH | Armada Hoffler Properties | Equity REITs | 13.680 | Buy | X | Sell | X | 4 |
| EYES | Second Sight Medical Products, Inc | Medical Products | 15.480 | Buy | X | Buy | X | 5 |
| KMPH | Kempharm Inc | Pharmaceuticals | 9.010 | Buy | O | Sell | O | 2  |
| WRK | WestRock Co | Basic Resources | 52.950 | Buy | X | Sell | X | 3 |
| MSGN | MSG Networks Inc | Cyclical Goods and Services | 19.250 | Buy | X | Sell | X | 4 |
| KEGX | KEY ENERGY SERVICES, INC. | Oil Companies Major | 7.000 | Buy | X | Sell | X | 3 |
| LNC.TR | Lincoln National Corporation TR | Insurance | 63.653 | Buy | X | Sell | X | 4 |
| PFS.TR | Provident Financial Services, Inc. TR | Banks | 25.109 | Buy | X | Sell | X | 4 |
| CLR.TR | Continental Resources Inc. TR | Oil Companies Secondary | 29.809 | Buy | X | Buy | X | 5 |
| HES.TR | Hess Corporation TR | Oil Companies Secondary | 72.714 | Buy | X | Buy | X | 5 |
| SLB.TR | Schlumberger Limited TR | Oil Drilling, Equipment Svcs | 31.434 | Buy | X | Buy | X | 4 |
| SLG.TR | SL Green Realty Corp TR | Equity REITs | 81.942 | Buy | X | Buy | X | 5 |
| FSP.TR | Franklin Street Properties Corp. TR | Equity REITs | 6.941 | Buy | X | Buy | X | 5 |
| ROIC.TR | Retail Opportunity Investments Corp. TR | Equity REITs | 16.677 | Buy | X | Sell | X | 4 |
| RPT.TR | Ramco-Gershenson Properties Trust TR | Equity REITs | 12.369 | Buy | X | Buy | X | 5 |
| ACR.TR | ACRES Commercial Realty Corp. TR | Financial Services | 5.053 | Buy | X | Buy | X | 5 |
Stocks Moving to a RS Sell Signal
| Symbol | Company | Sector | Price | RS vs Market Signal | RS vs Market Column | RS vs Peer Signal | RS vs Peer Column | Tech Attrib |
|---|---|---|---|---|---|---|---|---|
| RAMP | Liveramp Holdings Inc. | Industrial Goods & Svcs | 51.470 | Sell | O | Sell | O | 0 |
| ADBE | Adobe Systems Incorporated | Software | 439.180 | Sell | O | Buy | O | 1 |
| AMED | Amedisys, Inc. | Healthcare Providers | 255.680 | Sell | O | Buy | O | 2 |
| CCI | Crown Castle International Corp. | Equity REITs | 151.040 | Sell | O | Buy | O | 1 |
| CERS | Cerus Corp. | Biotechnology | 6.280 | Sell | O | Sell | O | 1 |
| CSGP | CoStar Group Inc. | Industrial Goods & Svcs | 814.970 | Sell | O | Sell | O | 0 |
| APT | Alpha Pro Tech Limited | Medical Products | 10.700 | Sell | O | Sell | O | 0 |
| CSIQ | Canadian Solar Inc. | Industrial Goods & Svcs | 43.930 | Sell | O | Sell | O | 0 |
| EBS | Emergent Biosolutions, Inc. | Biotechnology | 86.990 | Sell | O | Buy | O | 1 |
| FSM | Fortuna Silver Mines Inc. (Canada) ADR | Basic Resources | 6.910 | Sell | O | Buy | O | 3 |
| GWRE | Guidewire Software Inc | Software | 100.860 | Sell | O | Sell | O | 1 |
| CCXI | ChemoCentryx Inc. | Biotechnology | 56.080 | Sell | O | Buy | O | 1 |
| INO | Inovio Biomedical Corp | Biotechnology | 9.750 | Sell | O | Buy | O | 1 |
| LPSN | LivePerson, Inc. | Technology Services | 56.300 | Sell | O | Sell | O | 0 |
| MPWR | Monolithic Power Systems Inc. | Semiconductors | 323.860 | Sell | O | Buy | O | 1 |
| NFLX | NetFlix Inc. | Retail | 506.440 | Sell | O | Sell | O | 0 |
| PERI | Perion Network Limited (Israel) ADR | Technology Services | 18.500 | Sell | O | Buy | O | 2 |
| MELI | Mercadolibre, Inc. | Retail | 1452.010 | Sell | O | Buy | O | 2 |
| OESX | Orion Energy Systems, Inc. | Industrial Goods & Svcs | 8.270 | Sell | O | Sell | O | 1 |
| MAG | MAG Silver Corp | Basic Resources | 17.060 | Sell | O | Buy | O | 2 |
| KNDI | Kandi Technologies, Corporation | Automobiles | 6.615 | Sell | O | Sell | O | 0 |
| MXL | MaxLinear, Inc. | Semiconductors | 33.160 | Sell | O | Sell | O | 2 |
| PRLB | Proto Labs Inc | Industrial Goods & Svcs | 127.610 | Sell | O | Sell | O | 0 |
| QUIK | QuickLogic Corporation | Semiconductors | 7.160 | Sell | O | Buy | O | 2 |
| ROL | Rollins, Inc. | Noncyclical Goods and Svcs | 32.920 | Sell | O | Sell | O | 1 |
| SNPS | Synopsys Inc | Software | 228.400 | Sell | O | Buy | O | 3 |
| TTWO | Take-Two Interactive Software, Inc. | Cyclical Goods and Services | 168.570 | Sell | O | Buy | O | 1 |
| CBIO | Catalyst Biosciences Inc. | Biotechnology | 6.090 | Sell | O | Sell | O | 1 |
| SOL | ReneSola, Ltd. (United Kingdom) ADR | Industrial Goods & Svcs | 13.630 | Sell | X | Buy | X | 3 |
| TREE | LendingTree Inc. | Banks | 235.050 | Sell | O | Sell | O | 0 |
| SPLK | Splunk Inc | Software | 135.870 | Sell | O | Buy | O | 1 |
| APPS | Digital Turbine Inc. | Technology Services | 71.510 | Sell | O | Buy | O | 2 |
| VCYT | Veracyte Inc. | Biotechnology | 50.690 | Sell | O | Buy | O | 1 |
| KODK | Eastman Kodak Company | Industrial Goods & Svcs | 8.620 | Sell | O | Sell | O | 0 |
| IOVA | Iovance Biotherapeutics Inc. | Biotechnology | 34.470 | Sell | O | Sell | O | 0 |
| DEA | Easterly Government Properties Inc | Equity REITs | 21.210 | Sell | O | Buy | O | 2 |
| CWEN | Clearway Energy Inc. | Electric Utilities | 28.590 | Sell | O | Buy | O | 2 |
| CLLS | Cellectis | Biotechnology | 21.650 | Sell | O | Buy | O | 1 |
| TRUP | Trupanion Inc. | Insurance | 87.350 | Sell | O | Sell | O | 0 |
| NTNX | Nutanix Inc | Software | 27.120 | Sell | O | Sell | O | 1 |
| COUP | Coupa Software, inc. | Software | 290.660 | Sell | O | Buy | O | 1 |
| ANAB | Anaptysbio | Biotechnology | 19.000 | Sell | O | Sell | O | 0 |
| APPN | Appian Corp. | Software | 149.700 | Sell | O | Buy | O | 2 |
| GDS | GDS Holdings Ltd. Sponsored ADR Class A | Technology Services | 89.080 | Sell | O | Sell | O | 0 |
| SFIX | Stitch Fix Inc | Retail | 49.230 | Sell | O | Sell | O | 0 |
| DNLI | Denali Therapeutics Inc. | Biotechnology | 58.230 | Sell | O | Buy | O | 1 |
| BTAI | Bioxcel Therapeutics, Inc. | Pharmaceuticals | 47.780 | Sell | O | Buy | O | 1 |
| HPR | HighPoint Resources Corporation | Oil Companies Major | 8.350 | Sell | O | Sell | O | 0 |
| SPOT | Spotify Technology S.A. | Media | 273.580 | Sell | O | Sell | O | 0 |
| GSHD | Goosehead Insurance, Inc. Class A | Insurance | 125.620 | Sell | O | Sell | O | 0 |
| CDAY | Ceridian HCM Holding, Inc. | Software | 85.370 | Sell | O | Sell | O | 0 |
| AVLR | Avalara Inc | Software | 141.510 | Sell | O | Sell | O | 0 |
| DOMO | Domo, Inc. Class B | Software | 62.320 | Sell | O | Buy | O | 3 |
| NIO | NIO Inc. Sponsored ADR Class A | Automobiles | 41.350 | Sell | O | Sell | O | 1 |
| ESTC | Elastic NV | Software | 114.440 | Sell | O | Sell | O | 0 |
| STNE | StoneCo Ltd. Class A | Industrial Goods & Svcs | 70.910 | Sell | O | Sell | O | 0 |
| APHA | Aphria Inc | Biotechnology | 18.150 | Sell | O | Buy | O | 3 |
| BLL.TR | Ball Corporation TR | Industrial Goods & Svcs | 87.433 | Sell | O | Sell | O | 0 |
| MPWR.TR | Monolithic Power Systems Inc. TR | Semiconductors | 328.194 | Sell | O | Buy | O | 1 |
| CSGP.TR | CoStar Group Inc. TR | Industrial Goods & Svcs | 814.970 | Sell | O | Sell | O | 0 |
| INVH.TR | Invitation Homes Inc TR | Equity REITs | 29.976 | Sell | O | Buy | O | 2 |
| RMD.TR | ResMed Inc TR | Medical Products | 185.247 | Sell | O | Sell | O | 0 |
| SPLK.TR | Splunk Inc TR | Software | 135.870 | Sell | O | Buy | O | 1 |
| SPOT.TR | Spotify Technology S.A. TR | Media | 273.580 | Sell | O | Sell | O | 0 |
| OPEN | Opendoor Technologies Inc. | Financial Services | 21.640 | Sell | O | Sell | O | 0 |
| YSG | Yatsen Holding Ltd. ADR Class A | Cyclical Goods and Services | 17.210 | Sell | O | Sell | O | 0 |
