Comments include: ANF, ARM, BOX, ORCL, & STZ.
| ANF Abercrombie & Fitch Co. ($87.86) - Retailing - ANF broke a double top at $79 to return to a buy signal as the stock rallied over 30% intraday to peak at $104 on the trend chart. This move penetrated the bearish resistance line which will increase the stock to a 2 for 5'er. A notable reprieve from the day's rally highs brought the stock back to the upper $80s by market close, keeping the relative strength charts in their current positions. Short-term holders may look to lock in profits while intermediate to long-term holders may seek to mitigate losses, depending on cost basis. Support for the stock now lies at prior resistance in the lower $80s. |
| ARM ARM Holdings PLC ADR ($137.50) - Semiconductors - ARM rose Wednesday to break a double top at $138, notching a fourth consecutive buy signal. This 3 for 5'er moved back to a positive trend earlier this month alongside improving relative strength against the market. The weight of the technical evidence is mixed but improving. Initial support can be seen at $126 with further support at $116 and $108. |
| BOX Box Inc. ($36.61) - Software - BOX advanced Wednesday after the company's earnings report, completing a shakeout pattern with a triple top breakout at $36 before reaching $37 intraday. This 5 for 5'er moved to a positive trend in August 2024 and has been on an RS buy signal against the market since 2020. The weight of the technical evidence is favorable and continues to improve. However, the stock is in heavily overbought territory. Initial support can be seen at $29. |
| ORCL Oracle Corporation ($163.48) - Software - ORCL advanced Wednesday to break a double top at $164, marking a third consecutive buy signal. This 3 for 5'er moved back to a positive trend earlier this month and has maintained positive RS against the market since 2020. The technical picture is mixed but improving. Initial support can be seen at $156 with further support offered at $146. Note that further overhead resistance may be seen at $174. Earnings are expected on 6/9. |
| STZ Constellation Brands, Inc. ($178.78) - Food Beverages/Soap - Shares of STZ broke a triple bottom at $182 during Wednesday's trading, ending its streak of four consecutive buy signals. Today’s move also saw the stock move back into a negative trend, bringing it down to a weak 1 for 5’er. Those still with exposure could look to cut the stock loose here. Initial support is nearby at $180 with further support at $170. |
