Comments include: ALC, CNC, DECK, OLLI, & ROST.
| ALC Alcon, Inc. ($86.49) - Healthcare - ALC inched lower to break a double bottom at $85. The 3 for 5’er has been on a market RS sell signal since 2021. ALC is now brushing up against its bullish support line, which, if crossed, would shift it down to a 2 for 5’er. For those invested, you could continue holding but set an alert for any changes in the stock’s technical attribute score. Long exposure should be avoided. Strong resistance can be seen between $99-$100. |
| CNC Centene Corporation ($56.24) - Healthcare - After rejecting the bearish resistance line and reversing into a column of Os on Thursday, CNC has now moved lower to break a spread quintuple bottom at $56. The 1 for 5’er lost 2 points this month after moving into a negative trend and exhibiting short term relative weakness against the market. Consider selling your position here. Long exposure should be avoided. Initial resistance is at $62, with additional resistance at $64. |
| DECK Deckers Outdoor Corporation ($101.80) - Textiles/Apparel - DECK fell roughly 20% following earnings, breaking a double bottom at $100 to return the stock to a sell signal as shares fell to $97. DECK has fallen to a 1 for 5'er that trades in a negative trend on its trend chart and exhibits negative market RS. From here, support now lies at $94, the April chart lows. |
| OLLI Ollies Bargain Outlet Holding Inc. ($110.02) - Retailing - OLLI broke a double bottom at $104 to return the stock to a sell signal and violate the bullish support line. The stock will decrease to a 4 for 5'er trading in a negative trend. Support lies at current levels, whiel additional may be found at $102 and $98. |
| ROST Ross Stores, Inc. ($135.51) - Retailing - ROST reversed into Os, falling from $154 to $130 and breaking a double bottom at $132. The move also violates the bullish support line, which will drop the stock down to a 3 for 5'er. From here, support lies in the mid $120s, the stock's recent chart lows. |
