AJG, AZO, CARS, CMA, CMCSA, CSL, FANG, GMS, MCD, MPC, MRVL, MTN, MTSI, NOW, PXD, RS, SKY and TER
| AJG Arthur J. Gallagher & Co. ($170.07) - Insurance - AJG broke a double top at $170 for an eighth consecutive buy signal and a new all-time high. The stock is a 5 for 5'er that ranks 3rd (out of 64) in the Insurance sector matrix and is accompanied by a yield north of 1%. Okay to consider here on the breakout. Initial support lies at $160. |
| AZO Autozone, Inc. ($2,009.05) - Autos and Parts - AZO broke a double top at 1952 before moving higher to 1984 where the stock is now trading at new all-time highs following earnings on Tuesday. AZO is a 5 for 5’er that trades on three consecutive buy signals and sits well above the bullish support line. From here, support sits at 1824. Note AZO is heavily overbought here. |
| CARS Cars.com Inc ($17.69) - Autos and Parts - CARS broke a double top at $18, marking the stock’s third consecutive buy signal. CARS is a 4 for 5’er within the autos and parts sector that just experienced a flip to positive weekly momentum. Demand is in control and the weight of the evidence is positive. Support sits at $16. |
| CMA Comerica Incorporated ($85.74) - Banks - CMA shares moved higher today to break a double top at $86 to mark its first buy signal. This 4 for 5'er has been in a positive trend since August and on an RS buy signal versus the market since November of 2020. CMA is actionable at current levels with a weekly overbought/oversold reading of -18%. From here, support is offered at $81. |
| CMCSA Comcast Corporation ($49.58) - Media - CMCSA broke a triple bottom today at $49, flipping the overall trend negative. As a result, CMCSA is now a 2 for 5’er within the media sector. This is the first time CMCSA has been a weak attribute name since November 2020. The stock is testing additional support at current levels. |
| CSL Carlisle Cos Inc ($242.72) - Autos and Parts - CSL broke a double top at $244 for a fourth consecutive buy signal and a new all-time high on the chart. The stock is a 5 for 5'er that ranks 8th (out of 56) in the Autos and Parts sector matrix. Okay to consider here on the breakout. Initial support lies at $228 with additional support in the $196 to $198 range. |
| FANG Diamondback Energy Inc ($115.58) - Oil - FANG broke a triple top at $116, returning to a buy signal, amidst a broad rally in the energy sector. FANG is a 5 for 5'er that ranks in the top quintile of the favored oil sector matrix; the stock currently yields 1.9%. FANG now finds support at $100. |
| GMS GMS Inc. ($60.57) - Building - Shares of GMS returned to a buy signal on Tuesday with a double top break at $61 and the stock remains a 5 for 5'er in the top quartile of the building stock sector matrix. Demand is in control and investors may consider taking partial positions at these levels. Initial support is offered at around $56 - $57. |
| MCD McDonald's Corporation ($260.04) - Restaurants - MCD broke a double top at $260 for a second consecutive buy signal and a new all-time high. The stock is a 3 for 5'er that ranks 3rd (out of 26) in the Restaurants sector matrix and is accompanied by a yield north of 2%. Okay to consider here on the breakout. Initial support lies at $244. |
| MPC Marathon Petroleum Corp. ($64.51) - Oil - MPC returned to a buy signal on Tuesday amid a strong rally by oil. The move adds additional evidence to an already positive picture as MPC is a 5 for 5'er that ranks in the top half of the oil sector matrix. The stock also carries a 3.75% yield. From here, support sits at $60. |
| MRVL Marvell Technology Inc. ($91.20) - Semiconductors - MRVL moved higher Tuesday to break a double top at $89 before reaching a new all-time high at $92 intraday. This 5 for 5'er moved to a positive trend in May and ranks 8th out of the 64 names in the semiconductors sector RS matrix. While the technical picture is strong, MRVL now become heavily overbought. Those looking to add exposure may be best served to ease in at current levels or wait for a potential pullback/normalization in the trading band. Initial support can be found at $81, with further support offered at $70. |
| MTN Vail Resorts Inc ($342.33) - Leisure - MTN returned to a buy signal today at $348 just two days ahead of expected earnings. MTN is a 4 for 5’er that recently tested (and held) its bullish support line. Demand is in control. From here, support sits at $324. |
| MTSI MACOM Technology Solutions Holdings Inc. ($77.37) - Semiconductors - MTSI rose Tuesday to break a double top at $76 before hitting $78 intraday. This 5 for 5'er moved to a positive trend in May and ranks in the top half of the semiconductor sector RS matrix. Exposure may be considered on this breakout, with strong support offered at $72. Note that the stock is at overhead resistance from earlier this month, with the potential for further resistance at $79. |
| NOW Servicenow Inc ($661.79) - Software - NOW moved higher Tuesday to break a double top at $632 before reaching $664 intraday. This ends a streak of three consecutive sell signals and passes a test of its bullish support line. This 4 for 5'er moved to a positive trend in June and ranks in the top quintile of the software sector RS matrix. The weight of the evidence is positive and improving. Initial support can be found at $600. |
| PXD Pioneer Natural Resources ($185.95) - Oil - PXD returned to a buy signal on Tuesday with a double top breakout at $188 a oil was up nearly 3% for the day. PXD is a 5 for 5'er and ranks in the top third of the favored oil sector matrix. The stock now finds support at $172. |
| RS Reliance Steel & Aluminum Co ($157.67) - Steel/Iron - RS returned to a buy signal Tuesday with a double top breakout at $158. RS is a 3 for 5'er and ranks seventh out 17 names in the steel/iron sector matrix. From here, the next level of support now sits at $150. RS carries a 1.8% yield. |
| SKY Skyline Champion Corp ($83.40) - Building - SKY is a solid 5 for 5’er that ranks 2nd out of 73 names in the building sector stock matrix. SKY broke a spread triple top at $83 before moving higher to $85, marking a new all-time high. From here, support sits at $78. |
| TER Teradyne, Inc. ($158.61) - Semiconductors - TER rose Tuesday to break a double top at $156 before matching its all-time high at $158 intraday. This 5 for 5'er moved to a positive trend in October and gave an RS buy signal against the market last week. The technical evidence is positive here, however, TER is now in overbought territory so those looking to add exposure may consider easing in at current levels, or waiting for a potential pullback/normalization in the trading band. Initial support can be found at $146. |
