OMI, SCHW, SUN, NEU, MLM, MRVL, BLDR, & PLNT.
| BLDR Builders FirstSource, Inc. ($80.22) - Building - Shares of BLDR reversed up into Xs on Tuesday, initiating the action point on a shakeout pattern. The stock remains a 5 for 5'er and is well-ranked in the favored building stock sector matrix. Demand is in control and the stock is actionable at current levels. Should BLDR fail the shakeout pattern, the next level of support is at around $73. |
| MLM Martin Marietta Materials In ($418.76) - Building - MLM gave an initial sell signal on Tuesday when it broke a double bottom at $408. The long-term picture for MLM remains positive as it is a 3 for 5'er that ranks in the top third of the favored building sector matrix. MLM now sits against support at $308. Earnings are expected on 2/7. |
| MRVL Marvell Technology Inc. ($86.03) - Semiconductors - MRVL rose over 4% Tuesday to break a double top at $86. This 5 for 5'er moved to a positive trend in May and ranks 4th out of 61 names in the semiconductors sector RS matrix. The weight of the technical evidence is positive and improving. Initial support is now offered at $78 with further support seen at $70. Overhead resistance may be seen at $91 and $93. |
| NEU NewMarket Corporation ($356.70) - Chemicals - NEU returned a buy signal and positive trend when it broke a triple top at $356 on Tuesday. The weight of the evidence remains negative, however, as even with the positive trend change NEU is an unfavorable 1 for 5'er. The nearest level of support now sits at $340. NEU carries a 2.45% yield and is expected to report earnings on 2/2. |
| OMI Owens & Minor Incorporated ($47.36) - Healthcare - OMI shares moved higher today to break a triple top at $47 to return to a buy signal. This 3 for 5'er has been in a positive trend since July of 2020 and in a column of Xs on its RS chart versus the market since November. OMI is actionable at current levels with a weekly overbought/oversold reading of 26%. From here, support is offered at $40. |
| PLNT Planet Fitness Inc ($93.13) - Leisure - PLNT returned to a buy signal today with a double top at $94. PLNT is a 3 for 5’er within the leisure sector that has experienced three weeks of positive weekly momentum. From here, PLNT faces resistance $95 while initial support sits at $87. |
| SCHW The Charles Schwab Corporation ($93.79) - Wall Street - SCHW shares moved higher today to break a double top at $93 to mark its third consecutive buy signal. This 5 for 5'er has been in a positive trend since June of 2020 and on an RS buy signal versus the market since January of 2021. SCHW is heavily overbought at current levels with a weekly overbought/oversold reading of 75%. From here, support is offered at $89. |
| SUN Sunoco L.P. ($43.15) - Oil - SUN broke a double top at $43 for a fourth consecutive buy signal and a multi-year high. The stock is a 3 fro 5'er that ranks in the top half of the Oil sector matrix and is accompanied by a yield north of 7.5%. Okay to consider here on the breakout. Initial support lies at $37 and $35. |
