Comments include: AMD, CCJ, FIVE, NEM, PSA, TWLO, UNH,
| AMD Advanced Micro Devices, Inc. ($155.61) - Semiconductors - AMD advanced sharply Tuesday to break a double top at $148, notching a sixth consecutive buy signal before reaching $158 intraday. This 3 for 5'er moved to a positive trend in May and sits in the top quintile of the favored semiconductors sector RS matrix. The weight of the technical evidence is positive and improving. However, AMD is now in a heavily overbought territory. Initial support can be seen at $134. Note that earnings are expected on 8/5. |
| CCJ Cameco Corporation ($75.80) - Metals Non Ferrous - CCJ completed shakeout pattern Tuesday when it broke a triple top at $76. The move adds to an already positive technical picture as CCJ is a 5 for 5'er that ranks fourth out of 14 names in the metals non ferrous sector matrix. Tuesday's marks a new all-time high for CCJ. From here, the nearest level of support sits at $70. Earnings are expected on 7/31. |
| FIVE Five Below Inc ($132.67) - Retailing - FIVE reversed into Xs and broke a double top at $136 to complete a bullish triangle and count as a seventh consecutive buy signal. The stock is a 5 for 5'er that ranks 5th (out of 90) in the Retailing sector matrix. Okay to consider in the upper $120 to lower $130 range. Initial support lies at $128, while additional can be found at $122. |
| NEM Newmont Corp ($57.35) - Precious Metals - NEM fell to a sell signal Tuesday when it broke a triple bottom at $56, The move adds to an already weak technical picture as NEM is a 2 for 5'er that ranks in the bottom half of the precious metals sector matrix. From here, the next level of support is NEM's bullish support line at $54. |
| PSA Public Storage ($283.91) - Real Estate - Shares of PSA broke a spread triple bottom at $284 for its second consecutive sell signal. Today’s move also saw the stock move back to a negative trend, bringing it down to an unacceptable 2 for 5’er. Those with exposure could look to cut the name loose given its lack of market relative strength. From here, support lies at $272, $260, and then $244. |
| TWLO Twilio Inc ($126.16) - Internet - TWLO rose Tuesday to break a double top at $124 before reaching $128 intraday. This 4 for 5'er moved to a positive trend in May and sits in the top half of the favored internet sector RS matrix. The weight of the technical evidence is favorable and continues to improve. Initial support can be seen at $114. Note that earnings are expected on 7/31. |
| UNH UnitedHealth Group Incorporated ($291.86) - Healthcare - UNH inches lower to break a triple bottom at $292. The 0 for 5'er has experienced notable technical deterioration, losing all of its points between mid-April to early May. Additionally, UNH ranks near the bottom of the healthcare sector matrix. A sell can be considered here, as the weekly OBOS is currently in normalized territory. Initial strong resistance at $324. Note that earnings are expected on 7/29. |
