AMZN, ATO, AXP, GME, HCA, JBL, MKSI, SPOT, and SUI
| AMZN Amazon.com Inc. ($98.68) - Internet - AMZN reversed back into Xs and rallied to break a spread triple top at $102. The move also shifts the trend back to positive for AMZN, which will bring the stock up to a 2 for 5'er. Resistance lies at $116, the February rally high. Support lies at $96 and the bullish support line at $91. |
| ATO Atmos Energy Corp ($107.35) - Gas Utilities - ATO reversed into Os and broke a triple bottom at $108 for a second sell signal since September of last year. The stock remains a 3 for 5'er and does rank in the top half of the Gsa Utilities sector matrix. Keep an eye on the bullish support line, which lies at $104. A move to $102 would flip the trend to negative and drop the stock to a 2 for 5'er. Support also lies at $98, the October low. |
| AXP American Express Company ($165.53) - Finance - AXP shares moved higher today to break a double top at $166 to mark its first buy signal. This 4 for 5'er has been in a positive trend since November and on an RS buy signal versus the market since February 2022. AXP is trading near the middle of its trading band with a weekly overbought/oversold reading of -17%. From here, support is offered at $156. |
| GME GameStop Corporation ($24.57) - Retailing - GME broke a double top at $20 to complete a bearish signal reversal before rallying up to $27. This move brings the stock to chart levels not seen since December 2022 and will shift the trend back to positive. The rally will also bring the market and peer RS charts back into Xs and flip back to RS buy signals, which will bring GME up to a 5 for 5'er in attribute rating. Resistance for GME now lies at $28 and $34. Support on the default chart lies in the $16 to $15.50 range. Those seeking exposure to the stock may look for normalization at current prices before adding. |
| HCA HCA Healthcare Inc. ($259.42) - Healthcare - HCA shares moved higher today to break a double top at $260 to mark its first buy signal. This 5 for 5'er has been in a positive trend since October and on an RS buy signal versus the market since June 2012. HCA shares are trading in actionable territory with a weekly overbought/oversold reading of 11%. From here, support is offered at $244. |
| JBL Jabil Circuit, Inc. ($82.33) - Electronics - JBL moved higher intraday Wednesday to break a double top at $84. This 5 for 5'er moved to a positive trend in January and has maintained an RS buy signal against the market since 2019. The weight of the technical evidence is favorable and shows near-term improvement. Initial support is not seen until $75, with the potential for further resistance at $85. |
| MKSI MKS Instrument, Inc. ($83.80) - Electronics - MKSI fell Wednesday to break a double bottom at $84, marking its fourth consecutive sell signal this month. This 2 for 5'er moved to a negative trend two weeks ago and sits in the bottom half of the electronics sector RS matrix. Long exposure should be avoided. Further support may be seen at $81. The potential for overhead resistance may be found at $91. |
| SPOT Spotify Technology S.A. ($131.58) - Media - SPOT broke a double top at $132 for a sixth consecutive buy signal. The stock is a 5 for 5'er that ranks 1st (out of 39) in the Media sector matrix. SPOT has maintained a positive trend since January, a peer RS buy signal since February, and a market RS buy signal since earlier this month. From here, resistance lies at $138 and $148. Support lies at $120 and $116. |
| SUI Sun Communities Inc ($129.45) - Real Estate - SUI shares broke a double bottom at $132 on Wednesday, resulting in a second consecutive sell signal. Note that the 2 for 5'er also now sits in the bottom half of the real estate stock sector matrix. No new exposure here. Those long may consider selling into rallies. The next level of support is offered at around $126. |
