Comments include: ABNB, CAT, CNC, H, USFD, and W.
| ABNB Airbnb, Inc. Class A ($147.57) - Leisure - ABNB broke a triple bottom at $152 to return the stock to a sell signal as it fell to $146 on the chart. The move also violates the bullish support line for the stock, which will drop it to a 4 for 5'er trading in a negative trend. Depending on the cost basis, holders of ABNB may seek to lighten up, while most are likely to hold here as the stock resides at support. Additional support lies in the $142 to $144 range, while the January 2023 chart low resides at $132. |
| CAT Caterpillar, Inc. ($352.12) - Machinery and Tools - CAT moved higher today, returning to a buy signal on its default chart. This continues what has been a productive 2024 campaign for this perfect 5/5'er, now with an established line of support around $332. While recent action does leave it with a couple of layers of resistance above (including all-time highs at $380), the path of least resistance looks to be lower for now. |
| CNC Centene Corporation ($77.65) - Healthcare - CNC shares moved higher today to break a double top at $77 to mark its first buy signal and return to a positive trend. This 5 for 5'er has been on an RS buy signal versus the market since March 2020. CNC shares are trading in actionable territory with a weekly overbought/oversold reading of 0%. From here, support is offered at $71. |
| H Hyatt Hotels Corp. ($151.74) - Leisure - H broke a double bottom at $144 as the stock fell to $140. This marks the first sell signal of 2024 for the stock, and it still maintains a 5 attribute rating and ranks within the top quintile of the Leisure sector matrix. Short to intermediate term holders may seek to lighten up or exit exposure depending on cost basis. Long-term holders are likely to continue to hold. From here, support now lies at $126 on the default chart. Support on the more sensitive 1 point per box chart can be found at $132. |
| USFD US Foods Holding Corp. ($54.63) - Food Beverages/Soap - USFD shares rallied after an upbeat earnings report. The stock has been a 5 for 5'er since January 2023 and now trades at all-time highs. The weight of the technical evidence is positive and the stock is actionable at current levels. Support is offered around $50. |
| W Wayfair Inc. ($73.33) - Retailing - W broke a double top at $70 for a second buy signal this month as the stock rallied to a near-term high at $73. Prior to the breakout, W moved back into a column of Xs on its market RS chart following last Friday's action and shifted to a positive trend during Monday's trading. The stock is now a 5 for 5'er that ranks in the top quartile of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to $70. Initial support lies at $66, while the bullish support line sits at $52. |
