CVNA, EAT, MA, NEM, and PSTG.
| CVNA Carvana Company ($130.78) - Autos and Parts - CVNA broke a double bottom at $130 for a third buy signal since June as the stock rallied to match its recent high at $136. The stock is a 5 for 5'er that ranks 2nd (out of 51) in the Autos and Parts sector matrix. Okay to consider in the mid-$120 to mid-$130s. Initial support lies at $122, while additional can be found at $102 and $98. |
| EAT Brinker International Inc ($65.45) - Restaurants - EAT broke a double bottom at $65 to return to a sell signal after the stock rallied to a multi-year chart high at $76. The stock remains a 5 for 5'er that ranks 2nd (out of 28) in the Restaurants sector matrix. From here, support on the default chart isn't done until the mid to lower $40s, while support on the more sensitive 0.50 point per box chart lies at $60.50 and $56.50. |
| MA Mastercard Incorporated Class A ($429.66) - Finance - MA shares moved lower today to break a double bottom at $432 to mark its first sell signal. This 5 for 5'er has been in a positive trend since December and on an RS buy signal versus the market since August 2011. MA shares are trading below the middle of their trading band with a weekly overbought/oversold reading of -13%. From here, support is offered at $360. Earnings are expected on 7/25. |
| NEM Newmont Corp ($45.54) - Precious Metals - NEM gave a second consecutive buy signal on Wednesday when it broke a double top at $45, where it now sits against its bearish resistance line. The technical picture for NEM remains negative as the stock is a 1 for 5'er that ranks 15th out 17 names in the precious metals sector matrix. A move to $46 would return NEM a positive trend and promote it to a 2 for 5'er. |
| PSTG Pure Storage ($67.44) - Semiconductors - PSTG moved higher Wednesday to break a double top at $67. This 5 for 5'er moved to a positive trend in June and sits in the top quartile of the semiconductors sector RS matrix. The weight of the evidence is positive here and is improving once again. Initial support can be seen at $61 with further support offered at $59. Note the potential for further overhead resistance may be found at $70. |
