Comments include: HSY, RBLX, TLN, URBN, & WSM.
| HSY The Hershey Company ($172.12) - Food Beverages/Soap - Shares of HSY broke a spread triple top at $172 to move back to a buy signal. Today’s move also saw the stock return to a positive trend, bringing it up to 1 for 5’er. However, the stock remains one to avoid given its lack of peer and market relative strength. From here, initial resistance is overhead at $172 with further resistance at $192. |
| RBLX Roblox Corp. Class A ($96.36) - Leisure - RBLX broke a double top at $97 for a fifth consecutive buy signal since late April. The stock is a 5 for 5'er that ranks 1st (out of 56) within the Leisure sector matrix. RBLX now trades in overbought territory and near multi-year highs, meaning those seeking exposure to the stock are best served looking for consolidation here in the mid $90s before adding. Initial support lies at $92, while additional can be found at $79. |
| TLN Talen Energy Corp ($274.87) - Utilities/Electricity - TLN broke a double top at $276 for a third buy signal since late April and to mark a new all-time chart high. The stock improved to a 4 for 5'er earlier this month after giving a market RS buy signal, and the stock has maintained a positive trend since mid-April. Okay to consider on a pullback to the low $260 to upper $250 range. Initial support lies at $248, while additional be found in the lower $220 range. |
| URBN Urban Outfitters, Inc. ($68.73) - Retailing - URBN reversed into Os and broke a double bottom at $68 for a second sell signal since peaking at $75 in late May. The stock continued to maintain a 5 technical attribute and ranks within the top decile of the Retailing sector matrix. From here, support can be around the $60 level, while additional may be found at $54, the bullish support line. |
| WSM Williams-Sonoma, Inc. ($155.39) - Retailing - WSM reversed into Os and broke a double bottom at $154 to complete a bearish triangle and count for a second sell signal. After only briefly maintaining a positive trend, WSM fell to a 2 for 5'er in the latter part of May. Support now lies in the upper $140s, while additional may be found in the mid to lower $130 range. |
