AEO, ALB, BBBY, BLK, BX, CHGG, FANG, HOG, KZR, LE, OKTA, PCTY, PFE, RS, SCHW, and ZEN
| AEO American Eagle Outfitters, Inc. ($21.41) - Retailing - AEO broke a spread triple bottom at $21, marking the stock’s fifth consecutive sell signal since July. AEO is a weak 2 for 5’er that is trading well below the bearish support line. Supply is in control. Avoid. |
| ALB Albemarle Corp ($212.75) - Chemicals - ALB continued lower on Friday and violated support that had held since August of last year when it broke a spread triple bottom at $208. ALB had been one of the strongest names in the chemical sector for much of last year, however, the stock is now an unfavorable 2 for 5'er and fell to a negative trend on its default chart in December. From here, the stock finds now additional support on its default chart until $186. Earnings are expected on 2/16. |
| BBBY Bed Bath & Beyond Inc. ($12.82) - Retailing - BBBY is a 0 for 5’er that ranks near the bottom of the unfavored retailing sector stock matrix. Today, BBBY broke a double bottom at $12.50, marking the stock’s eighth consecutive sell signal. Supply is in control and BBBY is trading at new 52 week lows. Avoid. |
| BLK BlackRock, Inc. ($800.85) - Wall Street - BLK shares moved lower today to break a spread triple bottom at $816 to mark its first sell signal. This 5 for 5'er has been in a positive trend since April of 2020 and on an RS buy signal versus the market since October of 2020. BLK shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -85%. From here, support is offered at $672. |
| BX The Blackstone Group Inc ($110.20) - Finance - BX shares moved lower today to break a double bottom at $110 to mark its second consecutive sell signal. This 3 for 5'er has been in a positive trend since October of 2020 and on an RS buy signal versus the market since May of 2013. BX is trading in heavily oversold territory with a weekly overbought/oversold reading of -78%. From here, support is offered at $110. |
| CHGG Chegg Inc ($26.63) - Business Products - CHGG returned to a buy signal on Friday with a double bottom sell signal at $26. CHGG is a 1 for 5’er within the unfavored business products sector that has maintained a market RS sell signal since May 2021. Supply is in control. Avoid. CHGG expects earnings on 2/7. |
| FANG Diamondback Energy Inc ($117.99) - Oil - FANG gave an initial sell signal when it broke a double bottom at $116 on Friday. The overall picture for FANG remains positive as it is a 5 for 5'er that ranks in the top quintile of the favored oil sector matrix. From here, the next level of support sits at $106. |
| HOG Harley-Davidson, Inc. ($33.62) - Leisure - HOG broke a double bottom at $34, marking the stock’s second consecutive sell signal. HOG is an unacceptable 0 for 5’ers within the unfavored leisure sector that just experienced a flip to negative weekly momentum. Supply is in control. Avoid. Earnings are slated for 2/8. |
| KZR Kezar Life Sciences Inc ($12.33) - Drugs - KZR broke a spread triple bottom at $12 to return to a sell signal. The stock still remains a 3 attribute rating but has taken out near-term support on the default chart. From here, support lies at $11, the bullish support line, and $7.50, the October 2021 pullback low. |
| LE Lands' End, Inc ($17.48) - Retailing - LE is a 0 for 5’er that broke a double bottom at $17.50, marking the stock’s fifth consecutive sell signal. Supply is in control. Avoid. |
| OKTA Okta Inc ($188.26) - Software - OKTA fell Friday to break a triple bottom at $194 before falling over 6% intraday to mark a new 52-week low at $178. This 1 for 5'er moved to a negative trend in November and ranks in the lower third of the software sector RS matrix. The weight of the technical evidence is weak and continues to deteriorate. Long exposure should be avoided. Initial overhead resistance may be found at $208. |
| PCTY Paylocity Holding Corporation ($185.34) - Software - PCTY fell Friday to break a double bottom at $190 before dropping to $184 intraday. This marks the seventh consecutive sell signal for this 2 for 5'er that moved to a negative trend in December. The technical picture is weak here; long exposure should be avoided. Initial overhead resistance may be found at $200. Earnings are expected on 2/3. |
| PFE Pfizer Inc. ($52.94) - Drugs - PFE shares moved lower today to break a double bottom at $53 to mark its first sell signal. This 4 for 5'er has been in a positive trend since July but on an RS sell signal versus the market since April of 2010. PFE is trading near the middle of its trading band with a weekly overbought/oversold reading of -8%. From here, support is offered at $51. |
| RS Reliance Steel & Aluminum Co ($150.84) - Steel/Iron - RS was down more than 6% on Friday, taking out two levels of support and falling to a negative trend on its default chart, a move which will drop it to an unfavorable 2 for 5'er. The stock now sits against support at $152, with additional support afforded at $150. Earnings are expected on 2/16. |
| SCHW The Charles Schwab Corporation ($89.32) - Wall Street - SCHW shares moved lower today to break a double bottom at $90 to mark its first sell 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 trading in overbought territory with a weekly overbought/oversold reading of 61%. From here, support is offered at $89. |
| ZEN Zendesk Inc ($94.74) - Software - ZEN moved lower Friday to break a double bottom at $96 before falling to $95 intraday. This 1 for 5'er moved to a negative trend in July and ranks in the bottom third of the unfavored software sector RS matrix. The technical picture is negative here. Avoid long exposure. Further support may be seen at $92 while initial overhead resistance is offered at $100. Note that earnings are expected on 2/10. |
