CCS, FSLR, LRCX, NUE, PAG, and TSLA
| CCS Century Communities Inc ($71.85) - Building - CCS posted a double top buy signal today at $73, moving to new 2023 highs in the process. This perfect 5/5'er sits in the top half of the Building sector matrix and remains in actionable territory at current levels. Support is offered below at $69, with overhead resistance dating back to January of 2022 at $76. |
| FSLR First Solar, Inc. ($178.55) - Electronics - FSLR moved lower Monday to break a double bottom at $180 before falling to $178 intraday. This 2 for 5'er moved to an RS sell signal against its Electronics peers last week and sits in the lower quartile of that sector matrix. Weekly momentum also recently flipped negative, suggesting the potential for further weakness from here. The weight of the technical evidence is now negative and weakening. Further support may be seen at $172, with the bullish support line currently positioned at $168. Overhead resistance may be seen initially at $188. |
| LRCX Lam Research Corporation ($620.33) - Semiconductors - LRCX rose Monday to break a double top at $632, marking a sixth consecutive buy signal. This 3 for 5'er moved to a positive trend in November 2022 and ranks in the top quartile of the favored semiconductors sector RS matrix. The weight of the technical evidence continues to improve. Initial support can be seen at $600, with further support seen at $560. Note the potential for further overhead resistance at $640. |
| NUE Nucor Corporation ($155.37) - Steel/Iron - NUE gave a second consecutive buy signal on Monday when it broke a double top at $158, where it now sits against resistance. The move adds evidence to an already positive technical picture as NUE is a 4 for 5'er and move to a positive trend earlier this month. From here, the first level of support sits at $148. |
| PAG Penske Automotive Group, Inc. ($159.90) - Autos and Parts - PAG broke double top at $160 for a fourth buy signal since late March and counts as a new all-time high. The stock is a 5 for 5'er that ranks sixth (out of 58) in the Autos and Parts sector matrix and is accompanied by a yield of roughly 1.7%. Initial support lies at $152 while the bullish support line is at $138. |
| TSLA Tesla Inc. ($246.07) - Autos and Parts - TSLA broke a double bottom at $244 to complete a bullish signal reversal. This follows four consecutive buy signals and a rally up to $276, the stock's highest level since September 2022. The stock remains a 5 for 5'er after the furious run, meaning technical strength remains for intermediate to long-term holders. Short-term holders may seek to exit on the breakdown here. Support on the default chart lies at $196 and $180. |
