BFAM, CL, EXR, GIL, ORLY, TSLA
| BFAM Bright Horizons Family Solution Inc. ($117.32) - Business Products - Shares of BFAM broke a double bottom at $118, ending its streak of two consecutive buy signals. Today’s move also saw the stock return to a negative trend, bringing it down to a 3 for 5’er. The stock remains acceptable for now but those with exposure should watch for further deterioration. From here, initial support lies at $114 with further support from $108 to $102. |
| CL Colgate-Palmolive Company ($93.10) - Household Goods - Shares of CL broke a quadruple top at $94, ending its steak of five consecutive sell signals. Today’s move also saw the stock flip its trend back to positive, bringing it back into buy territory. However, the stock lost its near-term strength versus the market in June and it has continued to be extremely rangebound. From here, it faces initial resistance from $95 to $97, then again at $100 to $102 and $108. |
| EXR Extra Space Storage Inc. ($148.76) - Real Estate - Shares of EXR broke a triple top at $154 for its second consecutive buy signal. Today’s move also saw the stock flip its trend back to positive, bringing it up to a 3 for 5’er. The stock lacks relative strength versus the market for the time being, keeping it in hold territory for now. From here, initial resistance lies at $160 to $162 with further at $174 then $184. |
| GIL Gildan Activewear ($50.59) - Textiles/Apparel - GIL broke a double top at $51 to return to a buy signal. The stock is a 5 for 5'er that ranks within the top half of the Textiles/Apparel sector matrix and is accompanied by a yield of 1.8%. Okay to consider here on the breakout. Note the stock's all-time chart high lies at $55. Initial support can be found at $47, while the bullish support line resides at $39. |
| ORLY O'Reilly Automotive, Inc. ($92.34) - Autos and Parts - ORLY broke a double top at $92 to return to a buy signal and complete a bearish signal reversal pattern. ORLY has been at least a 3 technical attribute stock since mid-2011 and is a 4 for 5'er at this time. Note notable resistance lies at $95. Initial support now lies in the $86 to $87 range, while additional can be found in the upper $70s. |
| TSLA Tesla Inc. ($293.33) - Autos and Parts - TSLA reversed into Os and broke a double bottom at $292 to complete a bearish catapult. This also penetrates the bullish support line, which will flip the trend back to negative and decrease the stock to a 2 for 5'er. From here, support now lies in the $270 range. |
