ADBE, CQP, FIZZ, ITW, RL, ZS
| ADBE Adobe Systems Incorporated ($633.66) - Software - ADBE moved higher Tuesday to break a double top at $632, marking a second consecutive buy signal. This 4 for 5'er moved to a positive trend in May and sits in the top quintile of the software sector RS matrix. While the technical picture is positive here, note that ADBE is nearing overbought territory and has earnings expected on 12/13. Initial support may be seen at $592 with further support at $512 and $504. |
| CQP Cheniere Energy L.P. ($54.84) - Oil Service - CQP fell to a sell signal Tuesday when it broke a double bottom at $55. The overall technical picture remains favorable as CQP is a 4 for 5'er and ranks in the top third of the oil service sector matrix. From here, the next level of support in CQP's bullish support line at $53. |
| FIZZ National Beverage Corporation ($51.05) - Food Beverages/Soap - Shares of FIZZ gave a second consecutive buy signal on Tuesday with a double top breakout at $51; the stock also reentered a positive trend. That said, the now 2 for 5'er faces firm resistance overhead at around $55. |
| ITW Illinois Tool Works Inc. ($251.75) - Machinery and Tools - ITW returned to a buy signal today and would challenge its newly established bearish resistance line with further upside action. While the stock is technically strong, a failure to break this trend line would be notable- so consider setting an alert if the stock reverses downwards despite its technically strong TA score. Keep an eye on $264 up above past the negative trend line, all-time highs. |
| RL Ralph Lauren ($134.80) - Textiles/Apparel - RL broke a spread triple top at $136 for a second buy signal and marked a 52-week high. RL is a 4 for 5'er that moved back into a positive trend toward the end of November and ranks within the top half of the Textiles sector matrix. Okay to consider on a pullback to $130 on the chart. Initial support lies at $128 while the bullish support line sits at $114. |
| ZS Zscaler, Inc. ($210.76) - Computers - ZS moved higher Tuesday to break a double top at $208, marking a fourth consecutive buy signal and a new 52-week high. This 4 for 5'er moved to a positive trend in May and sits in the top decile of the computers sector RS matrix. While the technical picture is positive here, ZS has moved into overbought territory. Those looking to add exposure may be best served waiting for a pullback or normalization of the trading band. Initial support may be seen at $194, with further support potentially found at $184. |
