Comments include: AFL, AVGO, AZO, DKS, LAMR, LEN, LVMUY, MGM, OLED, REG, & STT.
| AFL AFLAC Incorporated ($70.45) - Insurance - AFL shares moved higher today to break a triple top at $71 to mark its second consecutive buy signal. This 5 for 5'er has been in a positive trend since August and on an RS buy signal versus the market since October. AFL shares are trading above the middle of their trading band with a weekly overbought/oversold reading of 40%. From here, support is offered at $67. |
| AVGO Broadcom Ltd ($889.95) - Semiconductors - AVGO completed a bullish triangle Wednesday at $896, marking a second consecutive buy signal. This stock moved to a positive trend in November and has maintained an RS buy signal against the market since late-2010. It also sits in the top decile of the favored semiconductors sector RS matrix. The weight of the technical evidence is favorable and continues to improve. Initial support may be seen at $832, with further support offered at $784. Further overhead resistance may be found at the all-time high of $912 from May. |
| AZO Autozone, Inc. ($2,576.01) - Autos and Parts - AZO broke a double top at $2560 for a second buy signal since testing support at $2304 in June. The stock is a 5 for 5'er, but currently ranks in the bottom half of the Autos and Parts sector matrix because of notable rallies elsewhere within the industry. Those seeking exposure to AZO can consider the stock here on the breakout. Resistance lies at $2720, the April rally high. Initial support lies at $2368, the bullish support line, as well as at $2304, a support level that dates to January. |
| DKS Dick's Sporting Goods, Inc. ($139.27) - Retailing - DKS broke a double top at $140 to return to a buy signal. The stock is a 5 for 5'er that ranks in the top half of the Retailing sector matrix and is accompanied by a yield north of 2%. Okay to consider here on the breakout, but note resistance lies in the $150 to $152 range, the March rally and all-time high. Initial support lies at $130, while the bullish support line lies at $126. |
| GS Goldman Sachs Group, Inc. ($326.93) - Wall Street - GS shares moved higher today to break a double top at $332 to mark its first buy signal. This 3 for 5'er has been in a negative trend since June and 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 -15%. From here, support is offered at $316. |
| LAMR Lamar Advertising Company ($101.49) - Media - LAMR posted a 2nd consecutive double-top buy signal with today's action at $102, moving it back into a positive trend. This will push the stock to a technically favorable 4/5'er from a TA perspective, suggesting LAMR may be gearing up to take on resistance toward the top of the trading band at $106. Support is found below at $97. |
| LEN Lennar Corporation ($128.16) - Building - LEN reversed into X and broke a double top at $128 for an eighth consecutive buy signal and a new all-time high. LEN is a 4 for 5'er that ranks in the top third of the Building sector matrix and is accompanied by a yield north of 1%. Those seeking exposure may look to dollar cost average into the position at this time or consider a full position on a pullback to $122. Support lies at $120 and $106. |
| LVMUY LVMH Moet Hennessy Louis Vuitton SA (France) ADR ($193.40) - Textiles/Apparel - LVMUY broke a double top at $190 to return to a buy signal as it rallied to $192. LVMUY is a 5 or 5'er that has maintained a positive trend and long-term RS versus the market since November last year. Okay to consider the stock on the breakout here. Note resistance leis at $198, the April rally high. Initial support lies at $178 and $172, while the bullish support line lies at $164. |
| MGM MGM Resorts International ($47.02) - Gaming - MGM broke a spread triple top at $47 to return to a buy signal. This follows the stock testing its bullish support line at $39 back in June and brings it to a 52-week high. The stock is a 4 for 5'er that maintains positive near and long-term RS versus the market. Okay to consider here on the breakout. Note the November 2021 rally high for the stock lies at $51 and a move to $52 would bring the stock to its highest level since 2008. Support lies at the bullish support line at $39. |
| OLED Universal Display Corporation ($145.72) - Computers - OLED rose Wednesday to break a double top at $146. This 4 for 5'er moved to a positive trend in November and sits in the top half of the favored computers sector RS matrix. The technical picture is strong and is improving once again. Initial support can be seen at $138 and $136. Overhead resistance may come initially at the $156 level last seen in May. Note that earnings are expected on 8/3. |
| REG Regency Centers Corporation ($63.11) - Real Estate - REG shares reentered a positive trend on Wednesday at $63, raising the technical attribute rating to a 3 for 5'er (hold). Firm resistance is situated around $68, the highs for this year, but the technical picture is improving. Support is offered at $58. |
| STT State Street Corporation ($75.90) - Banks - STT shares moved higher today to break a triple top at $76 to mark its first buy signal. This 2 for 5'er has been in a negative trend since March and on an RS sell signal versus the market since June 2011. STT shares are trading above the middle of their trading band with a weekly overbought/oversold reading of 48%. From here, support is offered at $70. |
