Comments include: DVA, EL, KMB, NVDA, VEEV, & WSO.
| DVA DaVita, Inc. ($136.33) - Healthcare - DVA inched lower to break a double bottom at $136, marking its second consecutive sell signal. The 3 for 5’er moved into a negative trend last month and ranks in the middle of the healthcare sector matrix. DVA is still rated a hold but has experienced notable technical deterioration recently. Continue to look elsewhere for opportunities. Initial strong resistance is at $146, with additional strong resistance at $156. |
| EL Estee Lauder Companies ($68.74) - Household Goods - Shares of EL broke a triple top during Thursday’s trading for its fourth consecutive buy signal. Today’s move also saw the stock return to a positive trend. Even with its trend change, the now 1 for 5’er is lacking from a relative strength perspective, so its’s still a name to avoid for the time being. From here, the stock faces resistance at $69 then again at $74 to $75. |
| KMB Kimberly-Clark Corporation ($143.60) - Household Goods - Shares of KMB broke a double top at $144 to bring it back to a buy signal. Today’s move also saw the stock move back to a positive trend, bringing it up to a solid 4 for 5’er. The stock is ok to add here, but does face resistance at $146 and $150, in addition being somewhat rangebound over the last year. KMB also offers a yield of 3.53%. |
| NVDA NVIDIA Corporation ($138.66) - Semiconductors - NVDA advanced Thursday after the company’s earnings release to break a double top at $138 before reaching $142 intraday. This 5 for 5’er moved back to a positive trend at the beginning of May and has maintained an RS buy signal against the market since January 2023. The weight of the technical evidence is favorable and improving. However, the stock is nearing overbought territory. Initial support can be seen at $130, while overhead resistance is seen at the current chart level of $142. |
| VEEV Veeva Systems Inc. ($279.04) - Healthcare - VEEV moved up higher to break a spread triple top at $244, markings its third consecutive buy signal and a multi-year intraday high above $284. The 4 for 5’er moved into a positive trend last month and ranks in the top half of the healthcare sector matrix. The weekly OBOS is in overbought territory, so wait for the 10-week trading band to normalize before allocating. Initial support is at $228, with additional support at $208. |
| WSO Watsco Inc ($444.26) - Building - WSO retreated today, moving to new 2025 lows in the process. Now off roughly 6.5% so far this year, the 2/5'er remains a weak name and should be avoided. Rallies back up to $480 could be expected before the stock reaches a range of resistance around that point. |
