ABBV, ANF, BE, CAKE, CCJ, DE, DTE, PG, POST, SJM, and TSM.
| ABBV AbbVie Inc. ($174.84) - Drugs - ABBV shares moved higher today to break a double top at $174 to mark its second consecutive buy signal. This 3 for 5'er has been in a positive trend since December and on an RS buy signal versus the market since April 2022. ABBV shares are trading in actionable territory with a weekly overbought/oversold reading of 17%. From here, support is offered at $164. |
| ANF Abercrombie & Fitch Co. ($157.78) - Retailing - ANF broke a spread triple bottom at $166 as the stock fell to $158. This action will put both the peer and market RS charts within one box of reversing down into Os, meaning two potential attributes are at risk with further downside movement. From here, support can now be found at prior resistance in the $140 range, while additional support lies at $120. |
| BE Bloom Energy Corporation Class A ($15.46) - Utilities/Electricity - BE broke a double top at $16.50 to return to a buy signal the stock rallied to $17. The move will flip the trend of the stock back to positive, which following reversals back into Xs on both the market and peer RS charts earlier this week, will increase BE up to a 4 for 5'er. Those who may seek exposure may look for consolidation at current levels in order to develop support close to current prices. Note resistance lies in the $17.50 to $18.50 range, while support on the default chart currently resides at $11.50. |
| CAKE The Cheesecake Factory Incorporated ($39.89) - Restaurants - CAKE broke a double top at $41 for a third consecutive buy signal since March this year. The move also matches resistance at $41, originally from March 2022. The stock is a 3 for 5'er that ranks in the top third of the Restaurants sector matrix and is accompanied by a yield of roughly 2.8%. Okay to consider here on the breakout, but look for a move above current resistance before adding further. Initial support lies at $37, while additional can be found in the lower-$30s. |
| CCJ Cameco Corporation ($47.58) - Metals Non Ferrous - CCJ broke a double bottom at $48 to violate its bullish support line. In doing so, the stock will drop to a 3 for 5'er and move into hold territory. Look closely to the RS chart against the market as the stock is 1 box away from reversing into a column of O's and dropping another point on its ranking. Despite the "actionable" score, holders should exercise caution with positions as resistance above ranging from $54-$56 looks tough to crack. |
| DE Deere & Company ($386.13) - Machinery and Tools - DE moved higher today, enough so to post its first buy signal since May of this year. Despite this, the name maintains a poor technical posture and should be avoided. A move to $392 would return it to a positive trend... but that wouldn't change the technical opinion on the stock until further improvement is seen. |
| DTE DTE Energy Company ($117.36) - Utilities/Electricity - DTE reversed into Xs and broke a double top at $118 to complete a bullish catapult and clear resistance that dated to April last year. The stock is a 3 for 5'er that ranks in the upper half of the Electric Utilities sector matrix and is accompanied by a yield of roughly 3.6%. Okay to consider here on the breakout. Initial support lies at $110, while additional can be found at $104. |
| GOLF Acushnet Holdings Corp ($68.08) - Leisure - GOLF broke a quintuple top at $67 to return to a buy signal as the stock rallied to $68, its highest level since March this year. The move will also flip the trend back to positive, which will increase GOLF up to a 5 for 5'er. Okay to consider here on the breakout or on a pullback to the mid-$60s. Note resistance lies at the February chart high at $70. Initial support lies at the bullish support line at $60, while additional can be found at $64. |
| PG The Procter & Gamble Company ($169.12) - Food Beverages/Soap - PG reached a fresh all-time high on Wednesday. The stock now trades on five consecutive buy signals and ranks 16th out of 65 names in the food beverages/soap stock sector matrix. The weight of the technical evidence is positive here. Initial support is offered at around $162. |
| POST Post Holdings Inc ($109.93) - Food Beverages/Soap - POST posted a fresh all-time high today. The 3 for 5'er now trades on six consecutive buy signals. Further bullish confirmation would come on its market relative strength chart. Note earnings are expected 8/1. |
| SJM The J.M. Smucker Company ($121.42) - Food Beverages/Soap - SJM shares printed their first buy signal since March 2023; however, the stock remains a 0 for 5'er at this time. Long exposure should still be avoided. Further bullish confirmation would come with clearance of resistance at $128. |
| TSM Taiwan Semiconductor Manufacturing Co. (Taiwan) ADR ($171.20) - Semiconductors - TSM fell Wednesday to break a triple bottom at $182 before dropping almost 8% to $172 intraday. While this was a sharp decline, it does not affect the technical attribute for TSM, which remains a favorable 4 out of 5 rating. This move leaves the stock just above support at $168 and still north of its 50-day moving average, technically leaving the stock in a slightly overbought position. The long-term weight of the technical evidence remains positive despite the near-term consolidation. Further support after $148 can be seen at $148. Note that earnings are expected on 7/18. |
