Comments include: ABBV, BHP, CENX, CVX, DAL, FNF, GILD, LPX, ROKU, SMCI, TMHC, USFD, W, & WMT.
| ABBV AbbVie Inc. ($195.00) - Drugs - After facing strong resistance at $192, ABBV inches up higher to break a triple top at $194 and mark an intraday hig above $196. The 5 for 5'er shifted up from a 4 in early May after moving into a positive trend. Additionally, the stock is accompanied by a yield of 3.4%. Long exposure can be considered here. Initial support is at $182, with additional support at $178. Note that earnings are expected on 7/31. |
| BHP BHP Group Ltd. ($51.51) - Metals Non Ferrous - BHP returned to a buy signal Thursday when it broke a double top at $52, where it now sits against resistance. The weight of the evidence remains negative, however, as BHP is a 0 for 5'er and ranks near the bottom of the metals non ferrous sector matrix. |
| CENX Century Aluminum Co ($19.41) - Metals Non Ferrous - CENX returned to a buy signal Thursday after successfully testing its bullish support line. The move adds to a moderately positive technical picture as CENX is a 3 for 5'er but ranks in the bottom half of its sector matrix. From here, the next level of overhead resistance sits at $20, a level from which CENX has reversed down on four prior occasions since February. |
| CVX Chevron Corporation ($154.17) - Oil - CVX completed a second consecutive buy signal and returned to a positive trend Thursday when it broke a double top at $154. The positive trend change will promote CVX to an acceptable 3 for 5'er. However, the stock now sits in heavily overbought territory with a weekly overbought/oversold (OBOS) reading north of 80%. From here, the first level of support sits at $144. |
| DAL Delta Air Lines Inc. ($57.06) - Aerospace Airline - DAL rallied from the lower $50s to $57 after earnings. This follows this stock returning to a buy signal at the end of June. DAL is a 3 for 5'er that ranks within the top half of the Aerospace Airline sector matrix and is accompanied by a yield of 1.5%. Okay to consider on a pullback to the $53 to $55 range. Initial support lies at prior resistance at $53, while additional can be found at $46, the bullish support line. |
| FNF Fidelity National Financial, Inc. ($51.22) - Insurance - FNF reversed into a column of Os on Thursday, breaking a double bottom at $53 and marking its second consecutive sell signal. The 1 for 5'er lost 3 points in May after moving into a negative trend and exhibiting short-term relative weakness against both the market and its peers. Additionally, FNF ranks in the bottom half of the insurance sector matrix. The weekly OBOS indicates that the stock is in heavily oversold territory, so wait for the the 10-week trading band to normalize before selling your position. Initial resistance is at $58, with additional resistance at $65. |
| GILD Gilead Sciences, Inc. ($114.54) - Biomedics/Genetics - GILD inched higher to break a double top at $144, marking its second consecutive buy signal. The 4 for 5'er ranks in the top half of the biomedics/genetics sector matrix. Additionally, GILD is accompanied by a yield of 2.8%. Long exposure can be considered here. Initial resistance can be seen at $114, with additional resistance at $118. Note that earnings are expected on 8/7. |
| LPX Louisiana-Pacific Corporation ($96.48) - Forest Prods/Paper - LPX was up more than 6.5% on Thursday and returned to a buy signal and a positive trend when it broke a double top at $93. The stock continued higher, taking out multiple additional levels of resistance including a spread triple tops at $96 and $97. The positive trend change will promote LPX to an acceptable 3 for 5'er and the stock ranks in the top half of the forest prods/paper sector matrix. From here, support sits at $89, while the next level of overhead resistance sits at $102. LPX is expected to report earnings on 8/6. |
| ROKU Roku, Inc. Class A ($90.27) - Media - ROKU posted its 6th consecutive buy signal with today's action, now sitting without resistance on its default chart until 2025 highs. Keep in mind that this stock can move around quite frequently and it is moving up towards heavily overbought territory around current levels. Feel free to add here, but do so lightly. |
| SMCI Super Micro Computer, Inc. ($50.36) - Computers - SMCI rose Thursday to break a double top at $51, notching a fourth consecutive buy signal. This 5 for 5'er moved to a positive trend in May and sits in the top 20% of the computers sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $47. |
| TMHC Taylor Morrison Home Corporation ($65.91) - Building - TMHC broke a double top at $66 for a second buy signal as shares rallied to $67, bringing the stock to its highest level since January. The stock is a 5 for 5'er that ranks just outside the top of the Building sector matrix. Note resistance lies at $68, while additional can be found at $75, the stock's all-time high. Initial support lies at $62, while the bullish support line resides at $59. |
| USFD US Foods Holding Corp. ($80.46) - Food Beverages/Soap - Shares of USFD broke a double top at $80 for its second consecutive buy signal, in addition to setting new all-time highs. The strong 5 for 5’er is in the top decile of the food/beverage matrix and continues to be one of the strongest names in the consumer staples sector. Initial support lies at $76 while previous resistance in the low $70s and upper $60s could serve as potential future bounce points as well. |
| W Wayfair Inc. ($59.40) - Retailing - W reversed into Xs and broke a double top at $58 for a sixth consecutive buy signal as shares rallied to $59, a 52-week high. The stock is a 5 for 5'er after giving a peer RS buy signal during trading on 7/2, and W currently ranks 2nd (out of 90) in the Retailing sector matrix. Short-term holders may look to lock in profits as the stock now trades in extremely overbought territory. Those seeking long-term exposure are best served to look for consolidation in the mid to upper $50 range before adding. Initial support lies at $54, while additional can be found at $51 and $46. |
| WMT Walmart Inc. ($95.17) - Retailing - WMT reversed into Os and broke a double bottom at $95 for a second sell signal. The stock maintains a 5 technical attribute rating and continues to rank within the top half of the Retailing sector matrix. Notable resistance has developed in the $99 to $100 range. Inital support now lies at $94, while additional resides in the $91 to $92 range. |
