Comments include: AAP, DKS, LB, LLY, MDT, MSTR, TPL, & URBN.
| AAP Advance Auto Parts, Inc. ($48.94) - Autos and Parts - AAP reversed into Xs and broke a double top at $37 for a second buy signal as shares rallied to $49, increasing over 50%. The stock will move back into a positive trend and see its market and peer RS charts return to Xs as well as give RS buy signals, which will increase AAP to a 5 for 5'er in one day. The move also brings the stock up to resistance near the $50 level. Given the pop in price along with the stock having been at least a 2 technical attribute rating for roughly three years, those who may still hold AAP may see this as an opportunity to exit. |
| DKS Dick's Sporting Goods, Inc. ($173.21) - Retailing - DKS broke a spread triple bottom at $174 for a second sell signal as shares fell to $172. This action follows DKS moving into a negative trend on the default chart, a reversal into Os on the peer RS chart, and a market RS sell signal during last Thursday's (5/15) trading. With a 1 technical attribute rating, DKS is at its lowest TA rating in roughly three years. From here, support for DKS now lies at $168, the early April chart low. |
| LB LandBridge Company LLC Class A ($78.06) - Oil - After giving three consecutive buy signals and reaching a new all-time high, LB fell to a sell signal Thursday when it broke a double bottom at $79 and continued lower taking additional support when it hit $76. The technical outlook for the stock remains positive as LB is a 5 for 5'er. From here, the next level of support can be found at $68, where LB's bullish support line also currently sits. |
| LLY Eli Lilly and Company ($718.65) - Drugs - LLY moved lower on Thursday to break a double bottom at $712. The 2 for 5’er shifted down from a 4 earlier this month after moving into a negative trend and exhibiting short term relative weakness against the market. Additionally, LLY ranks in the bottom half of the drugs sector matrix. Given the weight of the technical evidence, a sell can be considered here. Long exposure should be avoided. Initial resistance is at $760, with additional resistance at $896. |
| MDT Medtronic PLC ($81.32) - Healthcare - After rejecting the bearish resistance line at $88, MDT reversed into a column of Os on Thursday and broke a triple bottom at $81. The 2 for 5’er shifted down from a 3 after moving into a negative trend last month. If invested, consider selling your position here. Long exposure should be avoided. Initial resistance is at $88, with additional resistance at $96. |
| MSTR MicroStrategy Inc ($399.46) - Software - MSTR advanced Thursday to break a double top at $424, notching a fifth consecutive buy signal. This 5 for 5'er moved to a positive trend in April and sits near the top of the favored software sector RS matrix. The weight of the technical evidence is favorable and continues to improve. Initial support can be seen at $396 with further support seen at $392. |
| TPL Texas Pacific Land Trust ($1,286.19) - Real Estate - Shares of TPL fell Thursday to break a double bottom at $1344, ending its streak of five consecutive buy signals. The 5 for 5’er still holds its near- and long-term relative strength, so it remains a stronger name in Real Estate despite today’s dip. From here, support lies closely below at $1280 with additional levels located at $1232 then $1152. Its bullish support line lies at $1168 as well. |
| URBN Urban Outfitters, Inc. ($73.12) - Retailing - URBN reversed into Xs and broke a double top at $64 for a fourth buy signal as shares rallied to $73, marking a new all-time high. The stock is a 5 for 5'er that currently ranks within the top quintile of the Retailing sector matrix. This price action places URBN in extremely overbought territory and offers an opportunity for holders to lock in profits. Those who may be seeking exposure to the stock are best served by looking for consolidation in the lower $70 range and normalization of the 10-week trading band before adding. Initial support now lies at $60 on the default chart. |
