Comments include: AEP, AU, DUK, EGO, LLY, MRK, & SO.
| AEP American Electric Power Company, Inc. ($98.72) - Utilities/Electricity - AEP broke a double bottom at $98 to complete a bearish catapult. The move also violates the bullish support line, which had been in place since February 2024 and will drop the stock down to a 2 for 5'er trading in a negative trend. From here, support lies at current chart levels, while additional may be found at $90. |
| AU AngloGold Ashanti Limited (South Africa) ADR ($39.79) - Precious Metals - AU gave an initial sell signal Wednesday when it broke a double bottom at $39. The weight of the evidence remains positive as AU is a 4 for 5'er that ranks in the top quintile of the precious metals sector matrix. From here, the next level of support on AU's chart can be found at $32, where its bullish support line also currently sits. |
| DUK Duke Energy Corporation ($112.54) - Utilities/Electricity - DUK broke a double bottom at $112 to initiate a shakeout pattern. DUK has maintained a positive trend since November 2023 and shown superior near-term relative strength against the market and its peer group since the latter half of 2024, making the stock a 3 technical attribute. From here, the action point for the shakeout pattern would be upon a reversal back into a column of Xs, currrently at $118. The pattern would be complete upon the triple top break at $126, which would also mark a new all-time chart high. Support on the chart lies in the mid $100 range with the bullish support line residing at $104. |
| EGO Eldorado Gold Corporation ($17.36) - Precious Metals - EGO fell to a sell signal Wednesday when it broke a double bottom at $17.50. The technical picture for EGO remains marginally positive as the stock is a 3 for 5'er. From here, the next level of support in EGO's trend line, which currently sits at $16. |
| LLY Eli Lilly and Company ($721.72) - Drugs - LLY shares moved lower today to break a double bottom at $720 to mark its second consecutive sell signal. This 3 for 5'er has been in a negative trend since May but on an RS buy signal versus the market since August 2021. LLY shares are trading below the middle of their trading band with a weekly overbought/oversold reading of -38%. From here, support is offered at $712. |
| MRK Merck & Co., Inc. ($73.83) - Drugs - MRK shares moved lower today to break a double bottom at $75 to mark its second consecutive sell signal. This 1 for 5'er has been in a negative trend since July 2024 and on an RS sell signal versus the market since April 2021. MRK shares are trading near heavily oversold territory with a weekly overbought/oversold reading of -67%. From here, support is offered at $73, last seen in 2022. |
| SO The Southern Company ($84.97) - Utilities/Electricity - SO broke a double bottom at $84 for a second sell signal. This follows the stocks rallying and failing to penetrate resistance at $93 on three prior occassions. The move also violates the bullish support line, which violates a trend that had been in place for more than 12 months and will drop the stock down to a 3 for 5'er. From here, support lies at $83 and $81, the January 2025 chart low. |
