Comments include: AU, BKNG, CDNS, GH, GOLF, HLT, IBKR, MCK, QRVO, & SNPS.
| AU AngloGold Ashanti Limited (South Africa) ADR ($43.55) - Precious Metals - AU fell more than 6% on Friday and gave an initial sell signal when it broke a double bottom at $44. The technical outlook for the stock remains decidedly positive as AU is a 5 for 5'er that ranks first out of 21 names in the precious metals sector matrix. From here, the next level of support sits at $39, while AU's bullish support line now sits at $36. |
| BKNG Booking Holdings Inc. ($5,678.16) - Leisure - BKNG broke a double top at $5696 for a fourth consecutive buy signal and to mark a new all-time chart high. The stock is a 5 for 5'er that ranks in the top third of the Leisure sector matrix. Okay to consider on a pullback into the $5400 range. Initial support lies at $5248, while additional can eb found at $5096. |
| CDNS Cadence Design Systems, Inc. ($305.26) - Software - CDNS moved higher Friday to complete a bullish triangle at $312. This 5 for 5'er moved to a positive trend in April and has maintained a market RS buy signal since 2009. The weight of the technical evidence is positive and improving. Initial support can be seen at $292. Note that earnings are expected on 7/21. |
| GH Guardant Health, Inc. ($50.97) - Biomedics/Genetics - GH inched higher to break a double top at $52, marking its third consecutive buy signal. The 5 for 5'er moved up from a 2 earlier this month after moving into a positive trend and exhibiting short term relative strength against both the market and its peers.. Additionally, GH ranks in the top third of the biomedics/genetics sector matrix. The technical picture is strong and improving. Initial support is between $47 & $48, with additional support at $37. |
| GOLF Acushnet Holdings Corp ($73.77) - Leisure - GOLF broke a double top at $75 for a fifth consecutive buy signal since mid April and to bring the stock within one box of its all-time chart high. The stock is a 4 for 5'er that ranks within the top third of the Leisure sector matrix and is accompanied by a yield north of 1%. Okay to consider here on the breakout or on a pullback to the lower $70s. Initial support lies at $70, while additional can be found in the $60 range. |
| HLT Hilton Worldwide Holdings Inc ($263.34) - Leisure - HLT broke a triple top at $260 for a second buy signal as shares rallied to $264. The stock is a 5 for 5'er that ranks within the top half of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback toward $250. Initial support lies at $244, while additional can be found at $216, the bullish support line. |
| IBKR Interactive Brokers Group, Inc. ($53.92) - Wall Street - IBKR shares moved higher today to break a triple top at $54 to mark its second consecutive buy signal. This 5 for 5'er has been in a positive trend since July 2023 and on an RS buy signal versus the market since October 2022. IBKR shares are trading above the middle of their ten-week trading band with a weekly overbought/oversold reading of 59%. From here, support is offered at $50. |
| MCK McKesson Corporation ($725.78) - Drugs - MCK inched higher to break a spread quadruple top at $736, marking its fifth consecutive buy signal. The 5 for 5'er has been in a positive trend since early 2023 and ranks in the top decile of the drugs sector matrix. Long exposure can be considered here. Initial support is at $704, with additional strong support at $672. |
| QRVO Qorvo Inc. ($83.93) - Semiconductors - QRVO pushed higher Friday to break a double top at $84, notching a fourth consecutive buy signal. This 3 for 5'er moved to a positive trend earlier this month and sits in the top half of the favored semiconductors sector RS matrix. Weekly momentum also just flipped positive, suggesting the potential for further upside from here. The weight of the technical evidence is favorable and improving. However, QRVO is now entering overbought territory. Initial support can be seen at $79 and $73. |
| SNPS Synopsys Inc ($502.63) - Software - SNPS rose Friday to complete a bullish triangle at $512. This 3 for 5'er moved to a positive trend last month and has maintained a market RS buy signal since 2021. The weight of the technical evidence is positive and improving. Initial support is seen at $464. |
