ABC, ALLY, CLFD, DDS, DHI, DKS, FB, ITT, KKR, LOW, MGA, ROKU, SKX & TECH
| ABC AmerisourceBergen Corporation ($121.35) - Drugs - ABC broke a double top at $122 which also flipped the trend back to positive. As a result, the stock is now a 4 for 5’er within the drugs sector. Weekly momentum just flipped positive, adding to the weight of the evidence. From here, support sits at $112. Earnings are expected on 8/4. |
| ALLY Ally Financial Inc. ($51.77) - Finance - ALLY broke a double top at $53 to return to a buy signal. The stock is a 5 for 5'er that ranks in the top quartile of the Finance sector matrix. Okay to consider here on the breakout. Note resistance lies at $56, the June high, while initial support lies at $47. Additional support can be found at $43, the March low. |
| CLFD Clearfield, Inc. ($42.76) - Telephone - CLFD broke a double top at $39 before moving higher to $42 on Friday. This stock is a 4 for 5’er within the telephone sector that has support available at $33. |
| DDS Dillard's, Inc. ($182.26) - Retailing - DDS returned to a buy signal with a double top breakout at $190 where the stock is now up against overhead resistance. From here, a move to $192 would match DDS’s all-time high while a move to $194 would mark a new all-time high. DDS is a 5 for 5’er within the retailing sector that is trading well above the bullish support line. Support sits at $162. Earnings are expected on 8/11. |
| DHI D.R. Horton, Inc. ($93.55) - Building - DHI broke a double top at $92 before moving higher to $94 on Friday, which flipped the trend back to positive. As a result, DHI is a 4 for 5’er within the retailing sector. From here, support sits at $87. |
| DKS Dick's Sporting Goods, Inc. ($104.41) - Retailing - DKS broke a quintuple top at $104, returning the chart to a buy signal as well as notching a new all-time high. DKS is a strong 5 for 5’er within the retailing sector that has support available at $92. |
| FB Facebook Inc. ($369.66) - Internet - FB broke a triple top at $360, completing a shakeout pattern, before continuing to rally up to a new high at $372. FB is a 3 for 5'er that ranks in the top quartile of the Internet sector matrix. With the chart now in overbought territory, we would look for a pullback to $360, a three box reversal, before taking or adding exposure. Initial support on the default chart lies at $336, while longer-term support lies at the bullish support line at $304 at this time. |
| ITT ITT Corporation ($96.58) - Machinery and Tools - Shares of ITT broke a double top at $97 on Friday, resulting in a second consecutive buy signal. The 4 for 5'er ranks in the top third of the machinery and tools stock sector matrix and has remained on an RS buy signal versus the market since 2013. Those who previously thinned positions following the consecutive sell signals may consider rebuilding such now on this breakout. Further resistance comes around $100, the all-time chart high. Initial support is offered at around $92, which is also the location of the bullish support line. Note earnings are expected on 8/5. |
| KKR KKR & Co. L.P ($61.60) - Finance - KKR broke a triple top at $62, completing a shakeout pattern and a new high on the chart. The stock is a 5 for 5'er that ranks in the top quintile of the Finance sector matrix. Okay to consider here on the breakout, as the stock is not too overbought at current levels, or on a pullback, which would occur with a three-box reversal at $59. Initial support lies at $57, while additional can be found at $54. |
| LOW Lowe's Companies, Inc. ($200.84) - Building - LOW broke a double top at $200, marking the second consecutive buy signal on the chart. LOW is a 3 for 5’er within the building sector that has maintained a long-term market RS buy signal since November 2012. From here, support sits at $192. Earnings are slated for 8/18. |
| MGA Magna Intl Inc CL A ($80.98) - Autos and Parts - MGA broke a spread quadruple bottom at $81, violating support at $82 that dates back to March of this year. The stock feel to a low of $79 for the day, which violates the bullish support line. At a minimum, the stock will fall to a 2 for 5'er with the trendline violation and the reversal into a column of O's on the stock's market RS chart. Holders may seek to step away on a potential rebound and three-box reversal at $82. Avoid for now. |
| ROKU Roku, Inc. Class A ($473.82) - Media - ROKU is a perfect 5 for 5’er within the media sector that returned to a buy signal today with a double top buy signal at $448 before moving higher to $472. From here, support sits at $392. Earnings are expected on 8/4. |
| SKX Skechers U.S.A, Inc. ($54.22) - Textiles/Apparel - SKX broke a double top at $52 on Friday before moving higher to $55, marking a new all-time high for the stock for the first time since August 2015. SKX is a 3 for 5’er within the textiles/apparel sector that just experienced a flip to positive weekly momentum. From here, support sits at $46. |
| TECH Bio-Techne Corporation ($473.12) - Biomedics/Genetics - TECH broke a double top at $472 for a second consecutive buy signal and a new high on the chart. TECH is a 5 for 5'er that ranks in the top quintile of the Biomedic/Genetics sector matrix. Okay to consider here on the breakout or on a pullback to $448 on the chart. Initial support lies at $440, while long-term support lies at the bullish support line at $392. |
