
Comments include: CAR, CEG, HWM, PLNT, WELL, & WPM.
CAR Avis Budget Group, Inc. ($192.60) - Retailing - Shares of CAR broke a double top at 196 for its sixth consecutive buy signal. The 5 for 5’er has shown significant improvement this year, but it is now in heavily overbought territory above the top of its 10-week trading band. Those looking to add should wait for some consolidation or pullback. Support lies close at $188, $176, then again at $164. |
CEG Constellation Energy Corporation ($323.29) - Utilities/Electricity - CEG broke a double top at $324 to complete a bullish triangle and count for a second buy signal. The stock is a 3 for 5'er that ranks within the top quartile of the Electric Utilities sector matrix. Okay to consider here on the breakout. Note resistance lies in the upper $320s and at $340, while the stock's all-time chart high resides at $352. Initial support lies in the lower $300 range, while additional can be found in the $280 range. |
HWM Howmet Aerospace Inc. ($184.33) - Aerospace Airline - HWM completed a bullish triangle today, its third consecutive buy signal since late April. The perfect 5/5'er has quite a strong technical picture as we move further into July. The name is actionable here as it looks to challenge all-time highs established earlier this year. |
PLNT Planet Fitness Inc ($110.84) - Leisure - PLNT broke a double top at $122 for a fourth buy signal since May and to mark a new all-time high. The stock is a 5 for 5'er that ranks within the top third of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback to the mid $100 range. Initial support lies at $104 and $100, while the bullish support line resides at $97. |
WELL Welltower Inc. ($157.70) - Real Estate - Shares of WELL broke a double top a $158 for its third consecutive buy signal. The 5 for 5’er continues to look extremely solid, sitting in the top decile of its sector matrix. Those looking to add could do so here or on a pullback near the middle of its 10-week trading band at $150. |
WPM Wheaton Precious Metals Corp ($91.75) - Precious Metals - WPM returned to a buy signal Monday when it broke a spread triple top at $93. Monday's move adds to an already positive technical picture as WPM is a 5 for 5'er that ranks in the top half of the precious metals sector matrix. From here, overhead resistance sits at $95, WPM's all-time high. Meanwhile, support can be found at $86. WPM is expected to report earnings on 8/7. |