AMT, CAKE, COP, CVX, EMN, JLL, KLAC, KR, OLN, ROST, TSM, VST, WSM, Z
| AMT American Tower REIT ($207.72) - Real Estate - Shares of American Tower REIT (AMT) broke a double bottom at $208 to move back to a sell signal. The 3 for 5’er has moved back into a positive trend and earned near-tern relative strength after falling to a 0 attribute stock at the end of 2024. AMT is ok to hold but those looking to add could wait for an increase in long-term relative strength. From here, initial support lies at $198 with the bullish support line at $192. Overhead resistance lies at $224, $232, then again at $240 from all-time highs. |
| CAKE The Cheesecake Factory Incorporated ($52.66) - Restaurants - CAKE broke a double top at $53 for a second buy signal of the April low. The stock is a 4 for 5'er that ranks within the top third of the Restaurants sector matrix and is accompanied by a yield north of 2%. Okay to consider here on the breakout or on a pullback to $50. Note resistance lies in the $56 to $57 range. Initial support lies in the $47 to $48 range, while additional may be found at $45 and $43. |
| COP ConocoPhillips ($92.27) - Oil - COP returned to a buy signal and a positive trend Monday when it broke a triple top at $93 amid a broad rally in the energy sector. The weight of the evidence remains negative, however, as even with the positive trend change COP is a 2 for 5'er that ranks in the bottom half of the oil sector matrix. |
| CVX Chevron Corporation ($141.62) - Oil - CVX gave an initial buy signal Monday when it broke a double top at $142, where it now sits against resistance. The outlook for the stock remains unfavorable as CVX is a 2 for 5'er trading in a negative trend. From here, support can be found at $134, a level from which CVX rallied three times in April. |
| EMN Eastman Chemical Company ($82.77) - Chemicals - EMN returned to a buy signal Monday when it broke a double top at $79 and continued higher to $84, giving a second buy signal when it broke a spread triple top at $83. Despite Monday's move, the outlook for the stock remains negative as EMN is a 1 for 5'er. From here, the next test for the stock is its bullish support line, which currently sits at $90. |
| JLL Jones Lang LaSalle Incorporated ($240.37) - Real Estate - Shares of JLL broke a double top at $240 for its second consecutive buy signal. JLL also moved back into a positive trend, bringing it up to a 5 for 5’er. Those looking to add could do so here given its actionable position near the middle of its 10-week trading band. From here, JLL faces resistance from $260 to the upper $280s. |
| KLAC KLA Corp ($760.47) - Semiconductors - KLAC rose over 8% intraday Monday, breaking a triple top at $712 before reaching $760. This 5 for 5'er moved to a positive trend in April and has maintained an RS buy signal against the market since early 2011. The technical picture is favorable and improving. Initial support can be seen at $680, with further support seen at $632. Overhead resistance may be seen at $792. |
| KR The Kroger Co. ($68.96) - Retailing - KR reversed into Os and broke a double bottom at $69 as shares fell $68. The break initiates a shakeout pattern for the 5 for 5'er that currently ranks within the top quintile of the Retailing sector matrix. From here, the action point for the shakeout pattern would be a reversal into Xs at $71, while the pattern would be complete upon a triple top break at $74. Initial support lies in the mid $60s, while additional can be found in the lower $60s to upper $50s. |
| OLN Olin Corp ($22.86) - Chemicals - OLN returned to a buy signal on Monday with a double top break at $23. The technical outlook for the stock remains unfavorable, however, as OLN is a 0 for 5'er that ranks in the bottom quartile of the chemicals sector matrix. From here, OLN shows no additional resistance until its 2025 high at $34; meanwhile, support can be found at $19.50. |
| ROST Ross Stores, Inc. ($148.45) - Retailing - ROST broke a double top at $146 for a second buy signal as shares rallied to $148. The move flips the trend back to positive, which will increase the stock up to a 4 for 5'er that ranks within the top half of the Retailing sector matrix. Note resistance lies in the mid to upper $150s, while the stock's all-time chart high sits at $162. Initial support can be found at $134, while the bullish support line resides at $130. |
| TSM Taiwan Semiconductor Manufacturing Co. (Taiwan) ADR ($186.98) - Semiconductors - TSM advanced to break a double top at $182, notching a second consecutive buy signal before reaching $188 intraday. This 4 for 5'er moved to a positive trend at the beginning of the month and sits in the top third of the semiconductors sector RS matrix. The technical picture is strong and showing consistent improvement. Initial support can be seen at $172, with further support at $150 and $146. Overhead resistance can be found initially at $196. |
| VST Vistra Corp ($145.91) - Utilities/Electricity - VST reversed into Xs and broke a double top at $144 for a third buy signal as shares rallied to $146. This comes after the stock moved back into a positive trend during last week's trading, increasing the stock up to a 4 for 5'er. From here, notable resistance lies in the $170 range. Initial support can be found at $134, while additional can be seen at $124. |
| WSM Williams-Sonoma, Inc. ($173.76) - Retailing - WSM broke a double top at $164 for a third buy signal as shares rallied to $180. The stock is a 3 for 5'er after shifting back to a positive trend earlier in May and it has worked its way into the top half of the Retailing sector matrix. From here, resistance lies in the mid $180s. Initial support can be found at $156, while additional may be seen in the mid $140s. |
| Z Zillow Group Inc. Class C ($70.86) - Real Estate - Shares of Z broke a double top at $70 for its second consecutive buy signal, returning it to a positive trend in the process. The 3 for 5’er sits in the top quartile of the real estate sector matrix and holds long-term peer and market relative strength. Z is now ok to hold, but an increase in near-term relative strength would bring it back into buy territory. From here, Z faces overhead resistance starting at $74 and continuing until $89. |
