Comments include: BOOT, CE, COF, DXCM, FIVE, KEYS, KMX, MCO, and SKX.
| BOOT Boot Barn Holdings Inc ($92.72) - Retailing - BOOT reversed into Os and broke a double bottom at $91 for a second sell signal since the stock peaked at $104 earlier this month. The stock still maintains a 5 attribute rating and ranks within the top decile in the Retailing sector matrix. Support now lies in the $90 to $89 range, while the bullish support line lies at $76. From here, a move above $97 would return the stock to a buy signal and be a potential bearish signal reversal. |
| CE Celanese Corporation ($117.70) - Chemicals - CE fell to a sell signal Friday when it broke a double bottom at $116, and now sits one box above its bullish support line. The technical picture remains positive as CE is a 3 for 5'er and ranks sixth out of 47 names in the chemicals sector matrix. Beyond the bullish support line, the next level of support sits at $110. |
| COF Capital One Financial Corporation ($104.52) - Finance - COF shares moved lower today to break a double bottom at $104 to mark its first sell signal. This 4 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since December 2020. COF shares are trading below the middle of their trading band with a weekly overbought/oversold reading of -47%. From here, support is offered at $86. |
| DXCM Dexcom Inc. ($106.01) - Healthcare - DXCM shares moved lower today to break a double bottom to mark its second consecutive sell signal. This 4 for 5'er has been in a negative trend since early August but on an RS buy signal versus the market since October 2022. DXCM shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -82%. From here, support is offered at $106. |
| FIVE Five Below Inc ($194.80) - Household Goods - FIVE reversed into Os and broke a spread triple bottom at $188 for a second sell signal since rallying to $208. This brings the stock to test its bullish support line, which would be violated with a move below $186. A trend flip would drop the stock to a 4 for 5'er. Support lies at $186 and then $166 on the default chart, the June chart low. |
| KEYS Keysight Technologies Inc ($128.02) - Electronics - KEYS fell Friday after their earnings release to break a double bottom at $148, marking a second consecutive sell signal before dropping over 14% intraday to a new multi-year low at $126. This also violated the bullish support line and saw the stock give an RS sell signal against the market, dropping it to a 0 for 5 TA rating. The weight of the technical evidence is weak and deteriorating rapidly. However, the stock is now in a very ashed-out position, suggesting those with current exposure may consider it a sell-on-rally candidate. Overhead resistance may be seen initially at $156. |
| KMX Carmax Group ($81.66) - Autos and Parts - KMX reversed into Os and broke a triple bottom at $81 for the first sell signal since April. The stock fell to $79, taking out support at $81 and leading to a test of support at $78. With the breakdown, KMX also violates its bullish support line, flipping the trend to negative and dropping the stock to a 2 for 5'er. Below $78, additional support lies in the $67 to $71 range. Meanwhile, a move above $86 would return the stock to a buy signal and flip the trend back positive. |
| MCO Moody's Corporation ($326.17) - Finance - MCO shares moved lower today to break a double bottom at $328 to mark its first sell signal. This 4 for 5'er has been in a positive trend since April but on an RS sell signal versus the market since June 2022. MCO shares are trading in oversold territory with a weekly overbought/oversold reading of -46%. From here, support is offered at $300. |
| SKX Skechers U.S.A, Inc. ($50.98) - Textiles/Apparel - SKX broke a double bottom at $50 to return to a sell signal. This brings the 5 for 5'er down to test the June chart low at current levels. The stock still ranks in the top quartile of the Textiles/Apparel sector matrix, and if support at current chart levels is held, the stock could be considered upon a reversal into Xs back to the middle of the trading band at $53. Additional support lies at $47 and $46, the bullish support line. |
