Comments include: APP, AXON, BG, CI, CNQ, DQ, HUM, MDLZ, OLLI, PLTR, RTX, & WPM.
| APP AppLovin Corp. Class A ($369.95) - Software - APP pushed higher to break a double top at $360, notching a fourth consecutive buy signal. This 5 for 5'er moved to a positive trend in August and has maintained an RS buy signal against the market since 2023. The weight of the technical evidence is favorable and improving. Initial support can be seen at $332 with further support seen at $292. Further overhead resistance can be seen at $512 and $520. |
| AXON Axon Enterprise Inc. ($724.77) - Protection Safety Equipment - AXON reversed into a column of X’s on Tuesday, breaking a double top at $704 and reaching an intraday all-time high above $728. This marks AXON’s fourth consecutive buy signal. The 5 for 5’er moved up from a 4 earlier this month after exhibiting short-term relative strength against its peers. Additionally, AXON ranks second in the protection safety equipment sector matrix. However, it does trade near the top of its 10-week trading band, so those looking to add should wait for some consolidation or pullback. Initial support is at $672 with additional support at $600. |
| BG Bunge Limited ($83.23) - Food Beverages/Soap - Shares of BG completed a bullish catapult at $82 for its second consecutive buy signal. The 1 for 5’er regained near-term strength versus its peer group in April but remains lacking from a long-term perspective. BG also trades in a negative trend and is right below its bearish resistance line at $84. The weight of the evidence continues to be negative for the stock. |
| CI CIGNA Group/The ($301.89) - Healthcare - CI shares moved lower today to break a double bottom at $308 to mark its first sell signal and enter a negative trend. This 2 for 5'er has been on an RS sell signal since December 2024. CI shares are trading in normalized territory with a weekly overbought/oversold reading of -26%. From here, support is offered at $288. |
| CNQ Canadian Natural Resources Ltd. ($32.23) - Oil - CNQ gave an initial buy signal Tuesday when it broke a double top at $21, where it now sits against its bearish resistance line. The technical picture for CNQ remains negative as the stock is an unfavorable 1 for 5'er. From here, the first level of support sits at $25. |
| DQ Daqo New Energy Corp. ($15.20) - Chemicals - DQ gave an initial buy signal Tuesday when it broke a triple top at $15.50. The outlook for the stock remains negative as DQ is a 0 for 5'er that ranks last in the chemicals sector matrix. From here, the next level of overhead resistance is DQ's bearish resistance line at $18. |
| HUM Humana Inc. ($228.89) - Healthcare - HUM moved further down to break a spread quadruple bottom at $240 and reached an intraday low below $232, markings its second consecutive sell signal. The 3 for 5’er shifted down from 4 earlier this month after showing short term relative weakness against the market. HUM is still okay to hold but continue to monitor for further technical deterioration. Long exposure should be avoided. Initial support can be seen at $232 dating back to late 2024. Overhead resistance is at $276 with additional resistance at $296. |
| MDLZ Mondelez International, Inc. Class A ($64.49) - Food Beverages/Soap - Shares of MDLZ broke a double bottom at $64 to move to a sell signal after testing its bearish resistance line for the last two months. The 2 for 5’er sits in the bottom half of its sector matrix and remains in sell territory for the time being. However, movement back into a positive trend could bring it into hold territory. From here, support lies at $64 with additional farther below at $54. |
| OLLI Ollies Bargain Outlet Holding Inc. ($114.68) - Retailing - OLLI broke a double top at $114 to complete a bullish triangle, returning the stock to a buy signal and flipping the trend back to positive. This will increase OLLI to a 5 for 5'er as it has maintained positive long and near-term market and peer RS through April's turbulent action. Note resistance lies in the upper $110s, while the stock's 52-week chart high from December last year resides at $120. Initial support lies in the mid to lower $100 range, while additional may be found at $98. |
| PLTR Palantir Technologies Inc. Class A ($129.76) - Software - PLTR advanced Tuesday to notch a fourth consecutive buy signal and a new all-time high at $130 intraday. This 5 for 5'er moved to a positive trend in April and sits 2nd out of the 104 names in the favored software sector RS matrix. The overall technical picture is strong, however, PLTR is now in an overbought position. Initial support can be seen at $106 with further support not seen until $92. |
| RTX RTX Corp. ($130.72) - Aerospace Airline - RTX inched higher to break a double top at $132. The 4 for 5’er ranks in the top half of the aerospace airline sector matrix, in addition to trading in a positive trend since the start 2024. The stock is in actionable territory near the middle of its 10-week trading band. Strong support can be seen at $114. Overhead resistance is at $136 from all-time highs. |
| WPM Wheaton Precious Metals Corp ($78.62) - Precious Metals - WPM gave a second consecutive sell signal Tuesday when it broke a double bottom at $78. The outlook for the stock remains positive as WPM is a 5 for 5'er that ranks near the middle of the precious metals sector matrix. However, WPM shows no additional support on its chart until $69. |
