DASH, EIX, FORM, MPWR, MUSA, NRG, ONTO, and UTZ
| DASH DoorDash, Inc. Class A ($114.04) - Retailing - DASH broke a double bottom at $124 for a third consecutive sell signal since reaching a near-term peak at $142 on the chart. The stock ultimately fell to $110, matching a February pullback level. The stock remains a high attribute name, but long-term holders should monitor current support closely. Beyond $110, additional support lies at $104 and $102, the bullish support line. |
| EIX Edison International ($71.98) - Utilities/Electricity - EIX broke a triple top at $72 to complete a shakeout pattern and return the stock to a buy signal. The stock is a 3 for 5'er that ranks in the top quartile of the Electric Utilities sector matrix and is accompanied by a yield of roughly 4.4%. Okay to consider here on the breakout. Note the stock's all-time high from mid-2023 lies at $74. Initial support resides at $67, the bullish support line, while additional support lies at $64. |
| FORM FormFactor Inc. ($51.24) - Semiconductors - FORM pushed higher Thursday after releasing earnings to break a double top at $48 before reaching a new multi-year high at $51 intraday. This 16% intraday move also moved the stock back to an RS buy signal against the market, improving it to a 4 for 5 TA rating. The weight of the technical evidence is decidedly positive here and continues to improve. However, the stock is entering overbought territory. Initial support is seen at $41. |
| MPWR Monolithic Power Systems Inc. ($716.29) - Semiconductors - MPWR moved higher Tuesday after their earnings release to break a double top at $696 before reaching $720 intraday. This also moved the stock back to a positive trend, improving it to a 4 for 5 TA rating. The weight of the technical evidence is favorable here and continues to improve. Initial support can be seen at $648 with further support seen at $608, the current location of the bullish support line, and at $592. Further overhead resistance may be seen at $736 and $776. |
| MUSA Murphy USA Inc. ($396.54) - Oil - MUSA was down more than 3% on Thursday following its earnings release and fell to a sell signal when it broke a triple bottom at $384. The weight of the evidence remains positive, however, as MUSA is a 5 for 5'er that ranks 26th out 73 names int ethe oil sector matrix. From here, the next level of support on MUSA's chart sits at $352, more than 10% away from Thursday's close. |
| NRG NRG Energy, Inc. ($75.50) - Utilities/Electricity - NRG broke a double top at $75 to return to a buy signal. The stock is a 5 for 5'er that ranks 3rd (out of 51) in the Electric Utilities sector matrix and is accompanied by a yield of roughly 2.25%. Okay to continue to dollar cost average into exposure here on the breakout. Initial support lies at $70 on the default chart, while additional near-term support can be found in the 0.50 point per box chart in the mid to upper $60s. |
| ONTO Onto Innovation Inc. ($195.03) - Semiconductors - ONTO moved higher Thursday to complete a bullish catapult with a breakout at $194. This 5 for 5'er moved to a positive trend earlier this week and sits in the top quartile of the semiconductors sector RS matrix. This is a positive sign for the stock heading into its earnings release next week on 5/9. Initial support is now seen at $180 with further support seen at $172 and $168. Further overhead resistance may be found at the all-time chart high of $198 reached twice in March. |
| UTZ UTZ Brands Inc. ($19.55) - Food Beverages/Soap - UTZ shares were up over 7% on earnings. The stock was a 4 for 5'er heading into the report and now sits above a prior key area of resistance at around $19.50. The weight of the technical evidence remains positive here. |
