Comments include: ALL, AOSL, CHWY, OTTR, & TLN.
| ALL The Allstate Corporation ($186.47) - Insurance - ALL shares moved higher today to break a double top at $186 to mark its fourth consecutive buy signal. This 4 for 5'er has been in a positive trend since September and on an RS buy signal versus the market since April. ALL shares are trading near heavily overbought territory with a weekly overbought/oversold reading of 66%. From here, support is offered at $178. |
| AOSL Alpha & Omega Semiconductor Ltd. ($42.06) - Semiconductors - AOSL pushed higher Wednesday to break a double top at $39 before rising to $42 intraday. This stock has a 4 for 5 TA rating and sits in the top decile of the semiconductors sector RS matrix. The weight of the long-term technical evidence is favorable and the near-term picture is improving. Initial support may be seen at $34, which is also the current location of the bullish support line. Further support may be seen at $32. |
| CHWY Chewy, Inc. Class A ($29.81) - Retailing - CHWY broke a double top at $29 to complete a bearish signal reversal pattern. The stock is a 3 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 the mid-$20s. Note resistance lies in the $39 to $42 range. Initial support lies at $20, while the bullish support line resides at $18. |
| OTTR Otter Tail Power Co ($83.82) - Utilities/Electricity - OTTR broke a double bottom at $85 for a third consecutive sell signal since the stock's July peak at $100. This action follows the violation of the bullish support line and a reversal back into Os on the peer RS chart earlier this month, which dropped the stock to a 3 for 5'er. OTTR is now testing the July chart low at $84, while additional support can be found at $83 and $80. |
| TLN Talen Energy Corp ($149.47) - Utilities/Electricity - TLN broke a double top at $154 for a fourth consecutive buy signal and a new all-time chart high. TLN is a 3 for 5'er that has maintained a positive trend since November 2023 and positive near-term RS versus the market and its peer group. Okay to consider here on the breakout or on a pullback to the mid-$140s. Initial support lies at $144, while additional lies at $132 and $126. |
