AME, AMN, BIG, CR, DDS, DECK, DOCU, FCX, HON, LYB, ON, RL, SQ, THC, URI & YETI
| AME Ametek Inc ($138.44) - Electronics - AME broke a triple top for a fourth consecutive buy signal and a new high on the chart. AME is 4 for 5'er that ranks in the top third of the Electronics sector matrix. Okay to consider here on the breakout or on a pullback to $134 on the chart. Initial support lies in the $130 to $132 range, while long-term support lies at $108. |
| AMN AMN Healthcare Services, Inc. ($101.17) - Healthcare - AMN broke a double top at $102 for a second consecutive buy signal and a new chart high. The stock is a 3 for 5'er that ranks in the top quintile of the Healthcare sector matrix. Okay to consider here on the breakout or on a pullback to $98 on the chart Initial support lies at $97, while additional support lies at $93. |
| BIG Big Lots, Inc. ($56.16) - Retailing - BIG is an unacceptable 0 for 5’er within the unfavored retailing sector that ranks 87th out of 97 names in the sector stock matrix. Today, BIG broke a spread triple bottom at $56, marking the stock’s third consecutive sell signal. From here, the next level of support sits at $52. Avoid as the weight of the evidence is negative. |
| CR Crane Co. ($96.88) - Machinery and Tools - CR broke a spread triple top at $98, for a second consecutive buy signal, before rallying up to match the May chart high of $99. CR is a 3 for 5'er that ranks in the top half of the Machinery and Tools sector matrix. Okay to consider here on the breakout, or on a pullback to $96 on the chart. Initial support lies at $94, while additional support can be found in the $85 to $86 range. |
| DDS Dillard's, Inc. ($182.06) - Retailing - DDS is a perfect 5 for 5’er that ranks #1 in the retailing sector stock matrix. Today, DDS broke a spread triple top at $192 where the stock is now testing its all-time high originally hit in June. From here, support sits at $176. Okay to buy or hold here as the weight of the evidence is positive. |
| DECK Deckers Outdoor Corporation ($424.02) - Textiles/Apparel - DECK is a strong 5 for 5’er within the textiles/apparel sector that broke a double top at $416 before moving higher to $424, marking a new all-time high as well as the third consecutive buy signal. From here, support sits at $392. |
| DOCU DocuSign, Inc. ($294.94) - Software - DOCU reversed down to break a double bottom at $292 and initiate a shakeout pattern. DOCU is a 5 for 5'er that ranks in the top quintile of the Software sector matrix. Okay to consider on a reversal back into X's at $304, and the shakeout would be complete with the triple top break at $312. Initial supportlies at $272, while additional can be found at $248. |
| FCX Freeport-McMoRan Inc. ($36.62) - Metals Non Ferrous - FCX returned to a buy signal Monday after giving three consecutive sell signals since May. Monday's move adds to a positive overall picture for FCX as the stock is a 4 for 5 trading in a positive overall trend. From here, FCX faces overhead resistance at $44, a level it failed to breach three times in May and June. Support now sits at $32. |
| HON Honeywell International, Inc. ($232.42) - Aerospace Airline - HON broke a triple top at $236 to complete a shakeout pattern and reach a new high. HON is a 4 for 5'er that ranks in the top half of the Aerospace Airline sector matrix. Okay to consider here on the breakout, or on a pullback to $224 on the chart. Initial support lies at $212, while additional can be found at $196. |
| LYB LyondellBasell Industries NV ($98.90) - Chemicals - LYB returned to a buy signal Monday with a double top at $102. Despite Monday's move, the overall picture for LYB remains negative as it is a 0 for 5'er that ranks in the bottom half of the chemicals sector matrix. From here, the stock faces overhead resistance at $104, while support sits at $92. LYB carries a 4.5% yield. |
| ON On Semiconductor Corp. ($43.64) - Semiconductors - ON shares moved higher Monday after their earnings release to break a double top at $40 before reaching a new all-time high at $45 intraday. This 4 for 5'er moved to a positive trend last June and ranks in the top half of the semiconductors sector RS matrix. The technical picture is positive, however, ON is now in overbought territory so those looking to add exposure may be best served to wait for a pullback or normalization in the trading band. Initial support is offered at $35. |
| RL Ralph Lauren ($118.24) - Textiles/Apparel - RL completed a bearish signal reversal today, moving the chart to a buy signal for the first time since May. Although today’s breakout is a positive, RL remains a weak 0 for 5’er. Avoid. |
| SQ Square Inc ($272.38) - Software - Shares of SQ moved higher Monday to break a double top at $264 before rising over 10% intraday to match its all-time high at $280. This 3 for 5'er moved to a positive trend in April of last year and gave an RS buy signal against the market in May of this year. The weight of the technical evidence is positive. Initial support may be found at $248. |
| THC Tenet Healthcare Corporation ($71.37) - Healthcare - THC shares moved higher today to break a triple top at $74 to mark its second consecutive buy signal. This 5 for 5'er has been in a positive trend and on an RS buy signal since July of 2020. THC is actionable at current levels with a weekly overbought/oversold reading of 30%. From here, support is offered at $70. |
| URI United Rentals, Inc. ($326.27) - Machinery and Tools - Shares of URI pushed higher on Monday to break a double top at $336, resulting in a second consecutive buy signal. The 5 for 5'er remains in the top quartile of the machinery and tools stock sector matrix and well-above its positive trend line. Those considering new long exposure may need further bullish confirmation with a move past resistance at $340, which would put the stock nearly out of its rangebound state. Initial support is now offered at around $312. |
| YETI YETI Holdings, Inc. ($97.39) - Leisure - YETI broke a double top at $99 with today’s action, marking a new all-time high on the chart. YETI is a perfect 5 for 5’er that ranks #1 in the leisure sector stock matrix. Monthly momentum just flipped positive for YETI, which trades on consecutive buy signals. Demand is in control. From here, support sits at $95. |
