Comments include: ALB, FANG, GOOGL, HALO, PLNT, & SKYW.
| ALB Albemarle Corp ($55.68) - Chemicals - ALB fell to a sell signal Wednesday when it broke a double bottom at $56, where it now sits against support. The return to a sell signal adds to an already weak technical picture as ALB is a 0 for 5'er that ranks in the bottom decile of the chemicals sector matrix. |
| FANG Diamondback Energy Inc ($128.60) - Oil - After giving two consecutive buy signals, FANG fell to a sell signal Wednesday when it broke a double bottom at $130. The move adds to an already weak technical picture as FANG is a 1 for 5'er that ranks in the bottom half of the oil sector matrix. From here, the next level of support on FANG's chart sits at $120. |
| GOOGL Alphabet Inc. Class A ($151.38) - Internet - GOOGL fell today as reports noted AI might challenge Google's search engine capabilities. The stock remains a poor attribute name and holders should watch price action carefully. Now down roughly 20% so far this year, it sits within striking distance of 2025 lows. Cut on rallies. |
| HALO Halozyme Therapeutics Inc. ($70.14) - Biomedics/Genetics - HALO reversed sharply into a column of Xs on Wednesday, breaking a double top at $63 and reaching a new all-time high above $70. The 5 for 5’er moved into a positive trend earlier this year and ranks in the top quintile of the biomedics/genetics sector matrix. The weekly OBOS indicates that the stock is in heavily overbought territory, so wait for the 10-week trading band to normalize before considering. Support can be seen at various points between $56-$59. |
| PLNT Planet Fitness Inc ($102.32) - Leisure - PLNT broke a triple top at $100 to return to a buy signal as shares rallied to $102, matching the March rally high. The stock is a 5 for 5'er that ranks within the top quintile of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback to $98 on the chart. Note resistance at current levels as well as the January all-time chart high at $108. Initial support lies at $93, the bullish support line, while additoinal can be found at $91 and $88. |
| SKYW Skywest Inc ($97.35) - Aerospace Airline - SKYW reversed into Xs and broke a double top at $97 for a third buy signal as shares rallied to $98. This move follows the stock shifting back into a positive trend during last week's trading, pushing the stock up to a 3 for 5'er. Okay to consider here on the breakout or on a pullback to the mid $90s. Initial support lies at $92, while additional can be found in the mid $80s. |
