ADS, BBW, BNFT, C, DENN, DIS, FCX, GBCI, GIL, HZNP, MTZ, RF & SATS
| ADS Alliance Data Systems Corporation ($99.55) - Business Products - ADS broke a spread quadruple bottom at $100 before falling down to the $99 level. This is the third consecutive sell signal for the stock and violates notable support at $102 that dates back to April. This move appears that it will cause the market RS chart to reverse down into a column of O's causing the stock to fall to a 4 for 5'er. Monthly momentum also flipped negative this week. Short-term holder may look to exit here, while long-term holders may seek to trim here on this violation of support. |
| BBW Build-A-Bear Workshop, Inc. ($16.34) - Retailing - BBW is a 5 for 5’er within the favored retailing sector that broke a spread triple bottom with today’s market action. Despite this near-term price weakness, BBW remains a long-term leader. From here, those long can look to $15 for additional support. |
| BNFT Benefitfocus, Inc. ($13.05) - Software - BNFT moved lower Thursday to break a triple bottom at $13. This 1 for 5'er has been in a negative trend since early-2019 and ranks in the lower quartile of the software sector RS matrix. Weekly and monthly momentum each recently flipped negative as well, suggesting the potential for further downside from here. Avoid long exposure. Further support can be found at $12.50, with initial overhead resistance seen at $15. Earnings are expected on 8/3. |
| C Citigroup, Inc. ($66.73) - Banks - C shares moved lower today to break a spread triple bottom at $67 to mark its second consecutive sell signal. This 2 for 5'er still remains in a positive trend but has been on an RS sell signal versus the market since March of 2020. C shares are heavily oversold at current levels with a weekly overbought/oversold reading below -70%. From here, support is offered at $66 and then not until $58. |
| DENN Denny's Corporation ($15.74) - Restaurants - DEN broke a double bottom at $15.50 on Thursday, which violated its bullish support line. As a result, DEN is now trading in a negative trend with 2 attributes in its favor. Avoid. Earnings are expected 7/26. |
| DIS The Walt Disney Company ($173.41) - Media - DIS completed a bearish triangle pattern today and broke through its bearish resistance line. As a result, DIS is now trading in a negative trend with 2 attributes in its favor. Avoid as the trend is negative and supply is in control. Further support sits at $168. |
| FCX Freeport-McMoRan Inc. ($34.69) - Metals Non Ferrous - FCX broke a spread triple bottom at $34 for a third consecutive sell signal and violating a support level that dates back to April of this year. FCX still remains a 4 for 5'er, but the series of lower tops through May and June cause reason for evaluation. Holders of FCX may seek to trim here on this support level violation. From here, support now lies at $30, which is currently the bottom of the 10-week trading band. |
| GBCI Glacier Bancorp Inc ($52.22) - Banks - GBCI broke a double bottom at $52, which follows a spread triple bottom at $55, and completes a bearish catapult. This also counts for the third consecutive sell signal and a violation of the bullish support line, causing the stock to fall to a 2 for 5'er. Holders may seek to trim upon the violation of support here. Support now lies at $47. |
| GIL Gildan Activewear ($34.44) - Textiles/Apparel - After forming a double top at 38, shares of GIL broke a double bottom at 34. This sets the chart up for a potential shakeout pattern. From here, the action point of the shakeout would occur with a reversal up into Xs and the pattern would complete with a triple top breakout at 39. GIL is a 5 for 5’er that ranks in the top half of the textiles/apparel sector stock matrix. Okay to play the pattern on the reversal or upon completion. Earnings are slated for 8/5. |
| HZNP Horizon Pharma PLC ($92.81) - Drugs - HZNP shares moved lower today to break a double bottom at $93 which also broke its bullish support line putting the stock into a negative trend. This 4 for 5'er has been on an RS buy signal versus the market since November of 2018. HZNP is trading near the middle of its trading band with a weekly overbought/oversold reading of 5%. From here, support is offered at $90. |
| MTZ Mastec Inc ($100.62) - Building - Shares of MTZ dropped on Thursday to break a double bottom at $99, completing a bearish catapult pattern. The stock remains a 5 for 5 attribute name in the top quartile of the building stock sector matrix but given the recent weakness those looking to initiate new long exposure may consider waiting for demand to reenter the picture with a double top break at $110. Those already long may look to $96 as the next level of support. Note earnings are expected on 7/28. |
| RF Regions Financial Corporation ($18.97) - Banks - RF shares moved lower today to break a double bottom at $19 to mark its first sell signal of the year. This 3 for 5'er remains in a positive trend but has been on an RS sell signal versus the market since March of 2020. RF is heavily oversold at current levels with a weekly overbought/oversold reading of -70%. From here, support is offered at $17. |
| SATS EchoStar Corporation ($22.97) - Media - SATS fell Thursday to break a double bottom at $23. This 0 for 5'er moved to a negative trend in February of last year and has been on an RS sell signal against the market since late-2018. Long exposure should be avoided. Further support can be found at $21 and $20. Initial overhead resistance may be seen at $28, which is also the current location of the bullish support line. Earnings are expected on 8/4. |
