AMR, ELV, HCC, NKE, NRP, PYPL, RJF, & UAL.
| AMR Alpha Metallurgical Resources Inc. ($118.91) - Oil - AMR gained more than 13% on Wednesday and returned to a buy signal on its trend chart when it broke a double top at $116. The outlook for the stock remains negative as AMR is a 0 for 5'er and ranks 50th of 50 names in the oil sector matrix. |
| ELV Elevance Health Inc. ($354.96) - Healthcare - ELV reversed into a column of Os on Wednesday, breaking a quadruple bottom at $368 and reaching an intraday low below $356. With its latest move, the 1 for 5'er shifts down from a 2 after moving into a negative trend. Additionally, ELV ranks in the bottom half of the healthcare sector matrix. Sell your position here. Resistance can be seen at $400 & $408. |
| HCC Warrior Met Coal Inc ($50.29) - Oil - HCC returned to a buy signal and a positive trend Wednesday when it broke a double top at $48 and continued higher breaking a spread sextuple top at $51. The outlook for the stock remains negative, however, as even with the positive trend change HCC is an unfavorable 1 for 5'er and ranks in the bottom decile of the oil sector matrix. |
| NKE NIKE, Inc. ($76.53) - Textiles/Apparel - NKE reversed into Xs and broke a double top at $75 for a fourth consecutive buy signal since the April chart lows in the lower $50s. This follows the stock flipping the trend back to positive, which along with a reversal back into a column of Xs on the peer RS chart, increases the stock to a 2 for 5'er. This places the stock in overbought territory, so those who may have held the stock as a short-term trade may lock in profits here. From here, resistance lies in the lower $80. Initial support can now be found at $71, while the bullish support line sits at $62. |
| NRP Natural Resource L.P. ($100.88) - Oil - NRP returned to a buy signal and a positive trend Wednesday when it broke a spread quadruple top at $100, where it now sits against additional resistance. . The positive trend change will promote NRP to an acceptable 3.0. From here, the first level of support sits at $93. |
| PYPL Paypal Holdings Inc ($76.19) - Finance - PYPL shares moved higher today to break a double top at $76 to mark its first buy signal. This 1 for 5'er has been in a positive trend since June but on an RS sell signal versus the market since October 2021. PYPL shares are trading above the middle of their ten-week trading band with a weekly overbought/oversold reading of 48%. From here, support is offered at $68. |
| RJF Raymond James Financial Inc ($156.55) - Wall Street - RJF shares moved higher today to break a double top at $156 to mark its third consecutive buy signal. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since October 2021. RJF shares are trading above the middle of their ten-week trading band with a weekly overbought/oversold reading of 54%. From here, support is offered at $144. |
| UAL United Airlines Holdings Inc. ($80.33) - Aerospace Airline - UAL broke a double top at $81 for a second buy signal and to flip the trend back to positive. This will increase the stock up to a 4 for 5'er and the stock now ranks within the top half of the Aerospace Airline sector matrix. Resistance lies at $85, the June rally high. Initial support lies at $77, while the bullish support line sits at $74. |
