AMAT, AMR, BLBD, CAVA, DECK, FRPT, LNW, MU, and NFLX
| AMAT Applied Materials, Inc. ($208.03) - Semiconductors - AMAT rose Monday to break a double top at $208. This 5 for 5'er moved to a positive trend in November 2023 and sits in the top quintile of the semiconductors sector RS matrix. The technical picture is positive and improving once again. Initial support can be seen at $194 with further support offered at $188. Potential overhead resistance may be seen at $212. Note that earnings are expected on 5/16. |
| AMR Alpha Metallurgical Resources Inc. ($301.20) - Oil - AMR was down more than 9% on Monday following its earnings release, the move took out multiple levels of support on the stock's default chart and violated its bullish support line. The negative trend change will drop an AMR to an unfavorable 2 for 5'er and it ranks in the bottom quintile of the oil sector matrix. From here, the next level of support sits at $292, AMR's 2024 low. |
| BLBD Blue Bird Corp. ($36.61) - Autos and Parts - BLBD reversed into Xs and broke a double top at $37 for a fourth consecutive buy signal since December 2023. The stock is a 5 for 5'er that has maintained a positive trend and positive near-term RS against the market and its peer group. Okay to consider here on the breakout. Initial support lies at $33, while additional can be found at $30. |
| CAVA CAVA Group, Inc. ($75.15) - Restaurants - CAVA broke a double top at $75 for a second buy signal as the stock rallied to a new high at $77. The stock is a 5 for 5'er that maintains positive short and long-term RS against the market and its peer group. Okay to consider in the low to mid-$70s. Initial support lies at $67, while additional can be found at $59. |
| DECK Deckers Outdoor Corporation ($861.31) - Textiles/Apparel - DECK broke a double top at $864 to return to a buy signal. The stock is a 5 for 5'er that ranks in the top quintile of the Textiles/Apparel sector matrix. Okay to consider here on the breakout. Initial support lies at $792, while additional lies in the $744 to $752 range. |
| FRPT Freshpet Inc ($119.95) - Food Beverages/Soap - FRPT shares rallied on a favorable earnings report. The stock has been a 5 for 5'er since December of last year and now trades at multiyear highs. Demand remains in control. Support is offered at around $104. |
| LNW Light & Wonder Inc. ($95.06) - Gaming - LNW broke a double top at $95 for a fifth consecutive buy signal since January. The stock is a 5 for 5'er that ranks 1st (out of 17) in the Gaming sector matrix. Okay to consider here on the breakout. Note that LNW's March rally high lies at $108. Initial support lies at $89, while additional can be found at $87. |
| MU Micron Technology, Inc. ($119.87) - Semiconductors - MU rose Monday to break a double top at $118 before reaching $120 intraday. This 5 for 5'er has maintained a positive trend since last August and sits in the top decile of the semiconductors sector RS matrix. The weight of the technical evidence is positive and continues to improve. Initial support can be seen at $110 with further support seen at $106. |
| NFLX NetFlix Inc. ($593.70) - Internet - NFLX moved back to a buy signal today. Bulls should be encouraged by the move, as this perfect 5/5'er now offers a tight range of support nearby from $544-$552. All time highs from earlier this year now sit in earshot, so interested parties could enter into positions here. |
