Comments include: BKR, EW, LOAR, ON & VST.
| BKR Baker Hughes Company ($39.65) - Oil Service - BKR gave an initial buy signal Tuesday when it broke a triple top at $40. The move adds to a modestly positive technical picture as BKR is a 3 for 5'er but ranks in the bottom half of the oil service sector matrix. From here, the next upside test for the stock is its bearish resistance line which currently sits at $42. |
| EW Edwards Lifesciences Corporation ($73.33) - Healthcare - EW inched lower to break a double bottom at $74 and reach an intraday low below $73. The 3 for 5'er moved up from a 2 in April after moving into a positive trend in April. Additionally, EW ranks in the top quartile of the healthcare sector matrix. For those invested, you can continue to hold, but set an alert for any changes in EW's technical attribute score. Long exposure should be avoided for now, given the deteriorating technical picture. Initial strong resistance is at $78. |
| LOAR Loar Holdings Inc. ($81.01) - Aerospace Airline - LOAR moved lower today, posting its second consecutive sell signal in the process. The stock re-entered a negative trend with recent action, violating a seemingly key support level in the process at $82. While it is still technically actionable by NDW standards with a TA score of 3/5, exercise caution. It is still up nearly 11% so far this year but is well off highs. Trim profitable positions lightly. |
| ON On Semiconductor Corp. ($53.10) - Semiconductors - ON pushed higher Tuesday to break a double top at $55, notching a fourth consecutive buy signal. This 3 for 5'er moved back to a positive trend last week and continues to show near-term RS improvement. Initial support is seen at $51 with overhead resistance potentially seen at $57. |
| VST Vistra Corp ($176.90) - Utilities/Electricity - VST broke a double top at $180 for a sixth consecutive buy signal since the latter part of April. The stock is a 4 for 5'er that ranks within the top quintile of the Electric Utilities sector matrix. This action brings the stock near the top of the 10-week trading band, so those seeking exposure will look for a pullback to the low $170 to low $160 range before considering. Initial support lies at $162, while additional can be found in the $150 range. |
