Comments: CVNA, FFIV, FLUT, HOOD, IDT, NXT, & ORCL.
| CVNA Carvana Company ($334.97) - Autos and Parts - CVNA broke a double top at $332 to return to a buy signal. The stock has been a 5 for 5'er since the latter part of April and currently ranks 2nd (out of 47) in the Autos and Parts sector matrix. Okay to consider here on the breakout. Initial support lies at $308, while addtional can be found at $284. |
| FFIV F5 Inc. ($294.32) - Internet - FFIV rose Monday to complete a bullish catapult at $300. This 5 for 5'er moved to a positive trend last July and sits in the top half of the favored internet sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $284, while overhead resistance can be found at the all-time highs of $312. |
| FLUT Flutter Entertainment Plc ($283.88) - Gaming - FLUT broke a double top at $280 for a fourth consecutive buy signal as shares rallied to $284. The stock is a 4 for 5'er that has maintained long-term relative strength against both the makret and peer group since August 2022. Okay to consider on a pullback to $272. Initial support lies at $264, while additoinal can be found in the $220 to $236 range. |
| HOOD Robinhood Markets, Inc. Class A ($93.09) - Wall Street - HOOD shares moved higher today to break a double top at $86 to mark its seventh consecutive buy signal. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February 2024. HOOD shares are trading well above the top of their ten-week trading band, wait for normalization before initiating new positions. From here, support is offered at $82. |
| IDT IDT Corporation ($68.32) - Telephone - IDT now sits at a test of all-time highs from the start of June on its default chart. The perfect 5/5'er as a strong level of support around $64, and those looking for focused exposure within telecom names could add here. Those waiting for breaks to new highs before dipping toes in, keep in mind such a move would most likely see it reach heavily overbought territory. |
| NXT NEXTracker, Inc. Class A ($55.21) - Oil Service - NXT was down more than 5% on Monday and gave a second consecutive sell signal when it broke a double bottom at $53, and continued lower to $52, where it now sits against support. The outlook for the stock remains positive as NXT is a 5 for 5'er and ranks in the top 10% of the oil service sector matrix. However, those with open exposure should note that beyond the current support at $52 and bullish support line at $49, NXT shows no additional support on its chart until $38. |
| ORCL Oracle Corporation ($218.63) - Software - ORCL advanced Monday to break a double top at $220 before reaching a new all-time high at $228. This 5 for 5'er moved to a positive trend in May and has maintained an RS buy signal since 2020. We also see ORCL in the top decile of the favored software sector RS matrix. The weight of the technical evidence is favorable, however, the stock is not in a heavily overbought position. Initial support can be seen at $204 with further support potentially seen at the prior all-time highs near $198. |
