AMZN, ASH, BA, BABA, BERY, CE, ECL, FDX, FND, GS, IQV, LOW, LSTR, NTES, QCOM, TRGP, WAT, WDAY, and XOM
| AMZN Amazon.com Inc. ($123.09) - Internet - AMZN broke a double bottom at $122 for a second sell signal. the move also brings the 4 for 5'er down to test the bullish support line, which would be violated upon a move below $120. Support for AMZN also lies at $116, $108, and in the $102 to $104 range. |
| ASH Ashland Inc. ($98.73) - Chemicals - ASH fell to a sell signal on Friday when it broke a triple bottom at $98, violating its trend line in the process, which will drop it to an unfavorable 2 for 5'er. From here, the next level of support sits at $96. |
| BA The Boeing Company ($143.97) - Aerospace Airline - BA reversed down into Os and broke a double bottom at $144 for ta fourth consecutive sell signal in the stock. BA is a 2 for 5'er that ranks in the top half of the Aerospace Airline sector matrix. Support lies at $142. Additional support can be found at $136 and $132. |
| BABA Alibaba Group Holding Ltd (China) ADR ($85.84) - Internet - BABA broke a double bottom at $87 for a second consecutive sell signal before falling to $86 and taking out near-term support. BABA now trades at levels not seen since May. Support for the stock now lies at $82 and $79. |
| BERY Berry Plastics Group Inc. ($51.82) - Household Goods - BERY fell to a sell signal on Friday when it broke a triple bottom at $52 and continued lower to $51 where it now sits against support. The move also violated BERY's trend line, which will drop it to an unfavorable 2 for 5'er. BERY ranks 16th out of 32 names in the household goods sector matrix. |
| CE Celanese Corporation ($102.47) - Chemicals - CE continued lower on Friday, breaking a spread triple bottom at $104, taking out the last support the stock has found this year. CE Is a 1 for 5'er and ranks in the bottom decile of the chemicals sector matrix. |
| ECL Ecolab Inc. ($157.60) - Chemicals - ECL fell to a sell signal on Friday when it broke a double bottom at $158, violating its trend line in the process. Friday's move adds confirmation to an already negative picture as ECL is now a 0 for 5'er. The stock now sits against support at $156. |
| FDX FedEx Corporation ($160.84) - Aerospace Airline - FDX fell from $212 to $156, giving a second consecutive sell signal and violating all near-term support as the stock plunged on earnings. FDX will become a 0 for 5'er as it will give RS sell signals versus the market and its peer group. Look for a potential bounce from extremely oversold territory as a possible point of exit for those who continue to hold. Support lies at $154 on the default chart as well as in the $128 to $130 range. |
| FND Floor & Decor Holdings Inc ($80.16) - Retailing - FND broke a double bottom at $78 to return to a sell signal and violate the bullish support line. FND will become a 3 for 5'er due to the trend flip, although the stock does still rank among the top quartile of the Retailing sector matrix. Support lies at $77 and in the $70 to $71 range. |
| GS Goldman Sachs Group, Inc. ($324.85) - Wall Street - GS shares moved lower today to break a double bottom at $320 to mark its first sell signal. This 2 for 5'er has been in a positive trend since July but on an RS sell signal versus the market since June 2016. GS shares are trading near the middle of their trading band with a weekly overbought/oversold reading of 10%. From here, support is offered at $280. |
| IQV IQVIA Holdings Inc. ($204.11) - Healthcare - IQV shares moved lower today to break a triple bottom at $204 to mark its first sell signal. This 3 for 5'er moved to a negative trend today but has been on an RS buy signal versus the market since August 2017. IQV shares are trading in slightly oversold territory with a weekly overbought/oversold reading of -47%. From here, support is offered at $196. |
| LOW Lowe's Companies Inc. ($190.98) - Building - LOW broke a double bottom at $190 for a second consecutive sell signal and a violation of the bullish support line. This will drop the stock to a 3 for 5'er trading in a negative trend. LOW still ranks in the top third of the Building sector matrix and possesses a yield north of 2%. Support also lies at $188 and $184. |
| LSTR Landstar System, Inc. ($141.01) - Transports/Non Air - LSTR shares broke a double bottom at $140 on Friday to give a second consecutive sell signal and now test their lows from June of this year. The 3 for 5'er recently moved to the bottom half of the transports/non-air stock sector matrix, and a move to $136 would put the stock at its lowest level since January of 2021. No new exposure here. Those looking to reduce positions may consider trimming into a rally. |
| NTES Netease.com Inc. (China) ADR ($82.46) - Internet - NTES broke a spread triple bottom at $83 for a second sell signal. The move takes out all near-term support and brings the stock down to levels not seen since March. NTES is a 2 for 5'er that ranks in the bottom half of the Internet sector matrix. Support lies at $83. From there, support lies in the high-$60s. |
| QCOM QUALCOMM Incorporated ($124.95) - Semiconductors - QCOM fell Friday to break a double bottom at $124, marking a third consecutive sell signal. This 2 for 5'er moved to a negative trend in August and reversed down into a column of Xs against the market in March of this year. The overall weight of the evidence is negative here, avoid long exposure. Further support may be seen at $122 and $120. Note the potential for overhead resistance may be seen initially at $134. QCOM also carries a 2.35% yield. |
| TRGP Targa Resources Corp. ($68.64) - Gas Utilities - TRGP broke a double bottom at $68 to initiate a shakeout pattern. The stock is a 4 for 5'er that possesses a yield of 1.9%. From here, the shakeout pattern would be complete upon the triple top break at $74. Support lies at $67 and $66, the bullish support line. |
| WAT Waters Corporation ($283.93) - Electronics - Shares of WAT broke a spread triple bottom at $288 on Friday and now test their lowest levels since April of 2021. The stock is rated as a 3 for 5'er but has recently moved to the bottom half of the electronics stock sector matrix and monthly momentum just flipped negative. No new exposure here. Those considering reducing their position may consider selling into a rally as WAT is currently trading in oversold territory. |
| WDAY Workday Inc. ($152.29) - Software - WDAY fell Friday to break a spread triple bottom at $154 before falling to $150 intraday. This 0 for 5'er moved to a negative trend in April and ranks in the lower third of the software sector RS matrix. Weekly momentum also just flipped negative, suggesting the potential for further downside from here. Avoid long exposure. Further support may be seen at $142 and $136. The potential for overhead resistance may be seen at $172, which is also the current location of the bearish resistance line. |
| XOM Exxon Mobil Corporation ($93.21) - Oil - XOM fell to a sell signal on Friday when it broke a double bottom at $94 and continued lower, breaking a spread triple bottom at $92, where it now sits against support. The move also violated XOM's trend line which will drop the stock to a 3 for 5'er. XOM ranks 17th of 84 names in the oil sector matrix and carries a 3.6% yield. |
