Comments include: ANDE, CPS, KD, & RACE.
| ANDE The Andersons, Inc. ($50.65) - Food Beverages/Soap - ANDE shares dropped over 10% on Wednesday after releasing their latest earnings report. The stock fell through its bullish support line, ending its streak as a perfect 5 for 5'er (since July of last year). Support is offered between $49 and $46. Should ANDE fall below a 3 for 5'er, those long may consider selling into rallies/oversold bounces. |
| CPS Cooper-Standard Holdings Inc. ($14.39) - Autos and Parts - CPS reversed into Os and broke a double bottom at $14.50 for a second sell signal and to violate the bullish support line. Along with moving into a negative trend, CPS reversed into Os on both the market and peer RS charts, which will drop the stock to an unacceptable 2 for 5'er. Support for the stock now lies at $13.50, while additional can be found at $11.50. |
| KD Kyndryl Holdings Incorporation ($26.37) - Computers - KD rose Wednesday after releasing earnings to break a double top at $23, marking a third consecutive buy signal before reaching $26 intraday. This 5 for 5'er sits in the top quintile of the computers sector RS matrix and has maintained an RS buy signal against the market since February 2023. The technical picture has shown consistent improvement, however, KD is now in a heavily overbought position. Initial support can be seen at $19.50. |
| RACE FERRARI NV ($406.72) - Autos and Parts - RACE reversed into Os and broke a double bottom at $400 to return the stock to a sell signal. This ends a series of consecutive buy signals for the stocks and follows the reversing into Xs during Friday's trading, leading to a lower top at $432. The stock remains a 5 for 5'er that ranks in the top decile of the Autos and Parts sector matrix. Long-term holders will likely look to hold here, while short to intermediate-term holders may seek to lock in profits here on the breakdown. Support for RACE now lies in the $370 range, while the 2024 chart low lies at $332. |
