Comments include: ARM, CE, CF, DHR, DUOL, PLD, RACE, & TLN.
| ARM ARM Holdings PLC ADR ($154.22) - Semiconductors - ARM rose Wednesday to break a double top at $154. This 4 for 5'er moved to a positive trend in May and moved to an RS buy signal against the market in March. The weight of the technical evidence is favorable and improving. Initial support can be seen at $142. |
| CE Celanese Corporation ($57.09) - Chemicals - After completing five consecutive buy signals, CE fell to a sell signal Wednesday when it broke a double bottom at $57. The move adds to an already negative technical picture as CE is a 2 for 5'er that has been in trading in a negative trend since June of last year. From here, the next level of support on CE's chart sits at $53. |
| CF CF Industries Holdings, Inc. ($93.17) - Chemicals - CF fell to a sell signal Wednesday when it broke a double bottom at $94. The technical picture for the stock remains positive, however, as CF is a 5 for 5'er that ranks in the top third of the chemicals sector matrix. From here, the next level of support sits at $91. CF is expected to report earnings on 8/6. |
| DHR Danaher Corporation ($193.84) - Healthcare - DHR inched down further to complete a bullish signal reversal at $192. The 2 for 5'er currently stands 1-2 boxes away from reversing into a negative trend, effectively shifting down to a 1 for 5'er. Additionally, DHR ranks in the bottom half of the healthcare sector matrix. A sell can be considered here. Initial resistance is at $208, with additional resistance at $216. |
| DUOL Duolingo, Inc. Class A ($361.32) - Business Products - Shares of DUOL broke a double bottom at $364 for its fourth consecutive sell signal. Today’s move also saw the stock return to a negative trend, bringing it down to an unacceptable 2 for 5’er after losing near-term relative strength in June. While those with exposure should look to cut loose eventually, it might be shrewd to wait for some reversal or consolidation given its intraday overbought/oversold reading around -120%. From here, initial support lies at $312 then $292. However, previous resistance around $340 could serve as future bounce points as well. |
| PLD ProLogis ($110.11) - Real Estate - Shares of PLD broke a double top at $112 for its third consecutive buy signal. Today’s move also saw the stock flip its trend back to positive, bringing it up to a 1 for 5’er. However, the stock remains one to avoid for the time being given its lack of peer and market relative strength. From here, initial resistance lies at $124 with further resistance in the low to upper $130s. |
| RACE FERRARI NV ($504.10) - Autos and Parts - RACE broke a double top at $504 for a second buy signal and to match the stock's all-time chart high. RACE is a 5 for 5'er that ranks within the top third of the Autos and Parts sector matrix. Okay to consider here on the breakout or on a pullback to the middle of the 10-week trading band at $480. Initial support lies at $456, while additional can be found at $392. |
| TLN Talen Energy Corp ($264.40) - Utilities/Electricity - TLN reversed into Os and broke a double bottom at $264 for a second sell signal as shares fell to $256. The stock maintains 5 technical attribute rating and this action follows a rally to new chart highs in the latter part of June. From here, support lies in the $240 range, while additional can be found at $224. |
