CSGP, ADBE, ETSY, HAL, DVN, & WLK.
| ADBE Adobe Systems Incorporated ($494.69) - Software - ADBE fell Friday after their Thursday earnings release, breaking a double bottom at $536 before falling to $488. The stock is now testing its bullish support line, which has been in place since last May. The weight of the technical evidence is weak for this 2 for 5'er and showing further deterioration. Further support after $480 is not seen until $364 on the default chart. Overhead resistance may be found at $584 initially. |
| CSGP CoStar Group Inc. ($94.96) - Real Estate - Shares of CSGP gained over 8% on Friday, seemingly catching a bid from a big NAR settlement. The stock is a 3 for 5'er right now, but after today's move we could see an attribute upgrade. Those interested should dollar-cost average into positions because CSGP sits at the top of its ten-week trading band. Initial support is down around $85. |
| DVN Devon Energy Corporation ($47.62) - Oil - DVN returned to a buy signal Friday when it broke a double top at $48 and now sits one box below its bearish resistance line. The technical outlook for DVN remains negative as the stock is a 1 for 5'er and ranks in the bottom quintile of the oil sector matrix. From here, the first level of support sits at $41. |
| ETSY Etsy Inc ($66.04) - Retailing - ETSY moved lower today, posting a third consecutive sell signal in the process. The path of least resistance is lower here, as the stock earns 0 technical attributes and has shown little signs of bullish participation. $66 marks support from 2024 lows, so a break of this point could suggest further weakness. Long exposure should be limited. |
| HAL Halliburton Company ($37.73) - Oil Service - HAL returned to a buy signal Friday when it broke a triple top at $38, where it now sits against its bearish resistance line. HAL is a 3 for 5'er and ranks 25th out of 41 names in the oil service sector matrix. A move to $39 would return the stock to a positive trend and elevate it to a 4 for 5'er. |
| WLK Westlake Corp. ($146.79) - Chemicals - WLK returned to a buy signal and a positive trend on Friday when it broke a triple top at $146. The positive trend change will promote WLK to a 5 for 5'er; the stock also ranks in the top third of the chemicals sector matrix. WLK now sits at an all-time high on its default chart. Support can be found at $120. |
