AGCO, AHCO, DKNG, ENSG, HAS, MANH, MGA, NET, ROKU, SBUX & WK
| AGCO AGCO Corporation ($149.48) - Machinery and Tools - Shares of AGCO advanced on Tuesday to break a double top at $150, marking a fresh all-time-high and fifth consecutive buy signal. The 5 for 5'er ranks in the top decile of the machinery and tools stock sector matrix and continues to complete a series of higher tops and bottoms. The weight of the evidence is positive here. Initial support is offered at around $134. |
| AHCO ADAPTHealth Corp ($29.79) - Finance - AHCO fell from $38 on the chart down to $29. In the process, AHCO broke a double bottom and violated the bullish support line at $32, and then proceeded to take out very notable support at $30, the February and March 2021 lows. AHCO will now become a 2 for 5'er with a negative trend. Look to trim exposure to the stock either here or on a possible bounce from this low. From here, support lies at $28 and $26. |
| DKNG DraftKings Inc Class A ($59.25) - Gaming - DKNG broke a double bottom at $57, a move that marked the second consecutive sell signal on the chart. This move also violated the bullish support line, which downticks the stock to a weaker 2 for 5’er. Avoid for now as supply is in control and DKNG is trading in a negative trend. Additional support is available at $55. |
| ENSG Ensign Group, Inc. ($92.00) - Healthcare - ENSG broke a double bottom at $91 completing a bearish triangle. This comes after completing a bullish triangle last month. The stock remains a 5 for 5'er that ranks within the top quartile of the Healthcare sector matrix. Recent action has brought the stock down to support at $91 and a partial position could be considered on a reversal back into X's at $94. Further exposure could be considered up the return to a buy signal at $96. Support lies at the bullish support line at $88. |
| HAS Hasbro, Inc. ($98.92) - Leisure - HAS completed a bullish catapult pattern on Tuesday, marking the second consecutive buy signal on the chart. Although this is an improvement, HAS remains a low attribute name. We will continue to monitor for any improvement and stay on the sidelines until then. Note earnings are expected on 4/27 and HAS yields 2.86%. |
| MANH Manhattan Associates, Inc. ($123.61) - Software - MANH moved higher Tuesday to break a double top at $124, marking a second consecutive buy signal. This 3 for 5'er moved to a positive trend in November and ranks in the top third of the software sector RS matrix. The near-term technical picture is improving. Initial support can be found at $116, which is also the current location of the bullish support line. Further support can be found at $114 and $112. Earnings are expected on 4/27. |
| MGA Magna Intl Inc CL A ($92.88) - Autos and Parts - MGA broke a double top at $92 before moving higher to test its all-time high from March at $95 with Tuesday’s price action. MGA is a 3 for 5’er within the autos and parts sector that is trading well above the bullish support line. From here, support sits at $88. Note earnings are expected on 5/5. |
| NET Cloudflare Inc Class A ($78.10) - Computers - Shares of NET advanced Tuesday to break a double top at $74 before reaching $79 to post an intraday gain of over 12%. This also pushed through the bearish resistance line to place NET back in a positive trend. The stock is now a 3 for 5'er that has been on an RS buy signal against the market since February of 2020. Initial support can be found at $69. Earnings are expected on 5/6. |
| ROKU Roku, Inc. Class A ($384.42) - Media - ROKU completed a spread triple top today with a move to $380 before moving higher to $384. ROKU is an acceptable 3 for 5’er within the media sector that just experienced a flip to positive weekly momentum. From here, support sits at $364 while ROKU faces resistance at $424. Note earnings are expected on 5/5. |
| SBUX Starbucks Corporation ($115.24) - Restaurants - SBUX broke a double top at $114, marking a new all-time high on the chart in addition to the fourth consecutive buy signal. SBUX is a 2 for 5’er within the favored restaurants sector that has experienced two weeks of positive weekly momentum. At this time, SBUX is a lower attribute name however it has maintained a long-term market RS buy signal since 2009 and is trading in a positive trend. We will continue to monitor SBUX for further improvement. From here, support sits at $106. Note earnings are expected on 4/27. |
| WK Workiva Inc. ($98.62) - Internet - WK rose Tuesday to break a double top at $96 before reaching $98 intraday. This 4 for 5'er moved to a positive trend in June of last year and ranks in the top half of the internet sector RS matrix. The stock has also maintained an RS buy signal against the market since late-2017. Initial support can be found at $92, while further overhead resistance may come at $104. |
