CLDX, LLY, ACN, ALTR, AXP, ENSG, MGM, SHAK, & ZIM.
| ACN Accenture PLC ($291.14) - Business Products - ACN pushed higher Thursday after their earnings release to break a triple top at $296, marking a fourth consecutive buy signal and a new all-time high. This 4 for 5'er moved to a positive trend in April of last year and has been on an RS buy signal against the market since 2002. Monthly momentum also just flipped positive, suggesting the potential for further upside from here. The overall weight of the evidence is positive here and continues to improve. Exposure may be considered on this breakout, with initial support offered at $280. |
| ALTR Altair Engineering Inc. Class A ($69.55) - Software - ALTR rose Thursday to break a double top at $69 before reaching a new all-time high at $70 intraday. This 4 for 5'er moved to a positive trend in May of 2020 and ranks in the top third of the software sector RS matrix. The technical picture is strong and improving. Initial support can be found at $63, with further support offered at $62, the current location of the bullish support line, and $61. |
| AXP American Express Company ($168.31) - Finance - AXP shares moved higher today to break a double top at $168 to mark its fifth consecutive buy signal and reach a new all-time high. This 2 for 5'er has been in a positive trend since November and in a column of X's on its RS chart versus the market since March. AXP is nearing overbought levels, so those wishing to initiate a long position may be best served to scale in at current levels. From here, support is offered at $158. |
| CLDX Celldex Therapeutics Inc. ($31.84) - Biomedics/Genetics - CLDX shares moved higher today to complete a bullish triangle to mark its second consecutive buy signal. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February of 2020. CLDX is actionable at current levels with a weekly overbought/oversold reading of 18%. From here, support is offered at $27. |
| ENSG Ensign Group, Inc. ($87.00) - Healthcare - ENSG shares moved higher today to break a double top at $87 to mark its second consecutive buy signal. This 4 for 5'er moved to a positive earlier this month and has been on an RS buy signal versus the market since May of 2018. ENSG is actionable at current levels with a weekly overbought/oversold reading of -2%. From here, support is offered at $83. |
| LLY Eli Lilly and Company ($232.65) - Drugs - LLY shares moved higher today to break a triple top at $236 to mark its second consecutive buy signal and reach a new all-time high. This 4 for 5'er has been in a positive trend since December and on an RS buy signal versus its peer group since January of 2016. LLY Is near heavily overbought territory, so those wishing to initiate a long position may be best served to scale in at current levels. From here, support is offered at $220. |
| MGM MGM Resorts International ($44.06) - Gaming - MGM reversed back into a column of X's and rallied to break a double top at $45, completing a bullish catapult pattern and giving a second consecutive buy signal. The stock is a 4 for 5'er that ranks in the top half of the Gaming sector matrix. Okay to consider here on the breakout. or on a pullback to $42. Inital support liesat $41. Additional support can be found in the $35 to $37 range. |
| SHAK Shake Shack Inc ($108.06) - Restaurants - SHAK completed a triple top at $104, completing a shakeout pattern, before rallying up to $110. SHAK is a 3 for 5'er that maintains long-term positive RS versus the market and near-term positive RS versus its peers. Okay to consider here on the breakout or on a pullback to $104. Note overhead resistance exists up to $138, the January high. Support lies at $93. |
| ZIM ZIM Integrated Shipping Services Ltd. ($47.19) - Transports/Non Air - ZIM reversed back into X's at $45 before rallying to break a spread quadruple top at $48 for a new high. The stock is a 3 for 5'er that maintains near-term positive RS versus the market and its peers. Okay to consider on a pullback to $45. Initial support lies at $42, while additional can be found at $40. |
