Comments include: AMT, BMWYY, CF, FTNT, LEN, MAR, META, & RPM.
| AMT American Tower REIT ($194.27) - Real Estate - AMT broke a double top at $194 on Thursday, reentered a positive trend, and now sits on a nice pair of buy signals. However, the stock remains a 2 for 5'er at this time which means we will need to see more evidence of upside follow through before lifting our sell recommendation. Things to watch would be a flip on the relative strength chart against its peer group and/or against the market (SPXEWI). |
| BMWYY Bayerische Motoren Werke (BMW) AG ADR ($41.08) - Autos and Parts - BMWYY broke a double top at $41 for a third buy signal and a 52-week high. The stock is a 5 for 5'er that has maintained a positive trend since January and positive near-term RS since November last year. Support lies at $36 and $33. |
| CF CF Industries Holdings, Inc. ($70.08) - Chemicals - CF industries gave a second consecutive buy signal on Thursday, completing a bullish catapult at $70. Despite the positive chart action, the outlook for CF remains negative as it is a 2 for 5'er and ranks 43rd out of 47 names in the chemicals sector matrix. From here, the next level of resistance is CF's bearish resistance line at $74. |
| FTNT Fortinet Inc. ($73.59) - Software - FTNT moved higher Thursday to break a triple top at $72 before reaching $73 intraday. This 5 for 5'er moved to a positive trend in January and sits in the top quartile of the favored software sector RS matrix. Weekly momentum also recently flipped positive, suggesting the potential for further upside from here. The weight of the technical evidence is favorable and continues to strengthen. Initial support may be seen at $67 with further support at $65. |
| LEN Lennar Corporation ($118.88) - Building - LEN broke a double top at $118 for a seventh consecutive buy signal as the stock rallied to $120, a new high. LEN is a 4 for 5'e that ranks in the top third of the Building sector matrix and is accompanied by a yield of roughly 1.3%. The stock remains actionable here on the breakout. Support lies at $106 and $98. |
| MAR Marriott International, Inc. ($174.52) - Leisure - MAR reversed into Os and broke a double bottom at $174 to initiate a shakeout pattern. This comes after the 4 for 5'er reached resistance at $182 for a third time, forming a double top in the process. The action point for the shakeout pattern occurs upon the reversal back into Xs at $180 and the pattern would be complete with a move to $184, which would also be a 52-week high. Support lies at $172, the bullish support line, and in the $164 to $166 range. |
| META Meta Platform Inc. ($281.83) - Internet - META continued to chug higher today, posting a now 6 consecutive buy signals since March. However, like many of the other names within the tech-focused realm, META is in heavily overbought territory and those looking to initiate a position may look to dollar cost average into this perfect 5/5'er. Support is seen below at $260. |
| RPM RPM, Inc. ($84.97) - Chemicals - RPM gave a second consecutive buy signal Thursday when it broke a double top at $85. The overall technical picture remains negative, however, as RPM is a 1 for 5'er and ranks in the bottom half of the chemicals sector matrix. From here, the next test for the stock is its bearish resistance line, which currently sits at $88. |
