APTV, CAT, CDNS, CHD, DOCU, FANG, LW, MGPI, SAIA, SCHW, UPS, VC, and W
| APTV Aptiv PLC ($112.50) - Autos and Parts - APTV broke a double top at $112 for a fourth consecutive buy signal. This brings the 5 for 5'er just below its November rally high and a move to $116 would clear resistance at $114 and bring the chart to levels not seen since April of last year. Support lies at $104 and $99. |
| CAT Caterpillar, Inc. ($264.54) - Machinery and Tools - CAT posted a second consecutive double top buy signal with today's action at $264 to reach new all-time highs. While encouraging, this 4/5'er sits in heavily overbought territory with a weekly OBOS reading of 78%. The recent reversal does provide localized support at $248. |
| CDNS Cadence Design Systems, Inc. ($185.03) - Software - CDNS rose Friday to break a double top at $186, marking a second consecutive buy signal. This 4 for 5'er moved to a positive trend in November and ranks in the top third of the favored software sector RS matrix. The technical picture is favorable, however, the stock is now in overbought territory so those looking to add exposure would be best served by waiting for a pullback or normalization in the trading band. Initial support is seen at $178. Note that earnings are expected on 2/13. |
| CHD Church & Dwight Company ($79.71) - Household Goods - CHD broke a double bottom at $79 on Friday, resulting in a second consecutive sell signal. The 0 for 5'er ranks in the bottom half of the household goods stock sector matrix and recently failed to breakout into a positive trend. Supply is in control. More substantial support is offered down around $71. |
| DOCU DocuSign, Inc. ($59.25) - Software - DOCU moved higher Friday to break a double top at $60. THis 4 for 5'er moved back to a positive trend last week and ranks in the top decile of the favored software sector RS matrix. The weight of the evidence is positive and improving. Initial support is seen at $55 and $54. Overhead resistance may be found at $61. |
| FANG Diamondback Energy Inc ($151.24) - Oil - FANG gave a third consecutive buy signal and returned to a positive trend on Friday when it broke a double top at $152. The positive trend change will promote FANG to a 3 for 5'er. The stock now sits against resistance at $152, while support can be found at $144. Earnings are expected on 2/21. |
| LW Lamb Weston Holdings Inc ($98.53) - Food Beverages/Soap - Shares of LW reversed up into Xs on Friday, initiating a shakeout pattern. The 5 for 5'er ranks second out of 75 names in the food beverages/soap stock sector matrix and has traded in a positive trend since April of 2022. The weight of the evidence is positive here. Initial support is now offered at $96. |
| MGPI MGP Ingredients, Inc. ($91.94) - Food Beverages/Soap - MGPI shares printed a third consecutive sell signal on Friday at $94 with a spread triple bottom break. The 2 for 5'er now looks toward substantial support offered at $90. No new exposure here, as the weight of the technical evidence is negative. Note earnings are expected on 2/22. |
| SAIA Saia, Inc. ($272.75) - Transports/Non Air - SAIA posted a second consecutive double-top buy signal with today's action at $268 before rising as far at $276 intraday. This brings this 4/5'er up to resistance dating back to March of 2022. While SAIA now sits in heavily overbought territory, consider this a good buy on pullback opportunity. Support is seen $252. |
| SCHW The Charles Schwab Corporation ($75.23) - Wall Street - SCHW shares moved lower today to break a quadruple bottom at $75 to mark its first sell signal. This 5 for 5'er has been in a positive trend since October and on an RS buy signal versus the market since January 2021. SCHW shares are trading near the middle of their trading band with a weekly overbought/oversold reading of 29%. From here, support is offered at $66. |
| UPS United Parcel Service, Inc. ($182.00) - Aerospace Airline - UPS broke a double top at $182 to return to a buy signal and flip the trend back to positive. This action comes after the stock tested support at $172 and the trend flip with increase the technical attribute to a 4 for 5'er. Weekly momentum is positive and the stock maintains a yield north of 3%. Resistance lies at current levels as well as in the $188 to $190 range. Support lies at $172. |
| VC Visteon Corp. ($152.13) - Autos and Parts - VC reversed into Xs and broke a double top at $152, completing a bullish catapult pattern. The 5 for 5'er has cleared near-term resistance at $150 and matched the November rally high on the chart. VC is actionable at current levels and a move to $154 would be a new high for the stock. Support for the stock lies at $142 and $140, the bullish support line. |
| W Wayfair Inc. ($62.69) - Retailing - W reversed back into Xs and broke a double top at $61 for a third buy signal. The move comes after a recent trend flip and market and peer RS buy signals which improved the stock up to a 5 for 5'er. W is highly overbought at current levels and it would be best served to monitor the stock for potential chart normalization. Support lies at $51 and $39. |
