Analyst Observations | Nasdaq Dorsey Wright

AN, APH, MANH, JAKK, & VSTO.

AN Autonation Inc. ($99.53) - Autos and Parts - AN broke a double top at $99 to complete a bearish signal reversal and return to a near-term buy signal. AN is a 5 for 5'er that ranks in the top quintile of the Autos and Parts sector matrix. Okay to consider here on the breakout. Note resistance lies in the $104 to $106 range, the May 2021 rally highs. Initial support lies at $89, while additional support lies in the $85 to $86 range.

APH Amphenol Corporation ($70.12) - Electronics - APH broke a spread quadruple top at $70 to reach a new all-time high. APH is a 4 for 5'er that maintains long-term positive RS versus the market and its peers. Okay to consider here on a breakout or on a pullback to $67. Initial support lies in the $65 to $66 range, and at $63.

JAKK Jakks Pacific ($11.81) - Leisure - JAKK broke a double top at $12.50, marking the stock’s second consecutive buy signal. JAKK is a 5 for 5’er that has support available at $10.50 with overhead resistance at $13.50.

MANH Manhattan Associates, Inc. ($147.61) - Software - MANH broke a spread quadruple top at $148 and reached a new all-time high. MANH is a 4 for 5'er that ranks just outside the top decile of the Software sector matrix. Okay to consider on a pullback to $142. Initial support lies at $140, while additional support lies at $130.

VSTO Vista Outdoor Inc ($41.32) - Leisure - VSTO formed a double top at $47 with yesterday’s action and today, the stock moved to a sell signal at $43 before moving lower to $42. This sets the chart up for a potential shakeout pattern. From here, the action point of the shakeout would trigger with a reversal up into Xs while the pattern would complete with a triple top at $48.

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