Comments include: CRC, JBHT, LPLA, MDLZ, & SCHW.
| CRC California Resources Corporation ($51.26) - Oil - CRC returned to a positive trend Friday when it broke a double top at $49. The positive trend change will promote CRC to an acceptable 3 for 5'er and the stock ranks in the top half of the favored oil sector matrix. From here, the next of overhead resistance sits at $55 while support can now be found at $45. Friday's move has also pushed CRC into heavily overbought territory with a weekly overbought/oversold (OBOS) reading north of 80%. Earnings are expected on 8/5. |
| JBHT J.B. Hunt Transport Services, Inc. ($148.86) - Transports/Non Air - Quite an interesting picture for JBHT. On one hand, the stock remains a poor 1/5'er and remains below a rather significant trading range from the last few years. On the other, the sell signal today marks the first in a newly established uptrend. In this case, we will side with the technical attribute and hold off for now, but keep an eye on the stocks ability to get back into the above trading range with a break of resistance in the upper $150's. |
| LPLA LPL Investment Holdings Inc ($391.24) - Wall Street - LPLA inched higher to break a spread quadruple top at $392, marking a new all-time high. The 5 for 5'er ranks in the top quintile of the wall street sector matrix. Long exposure can be considered here. Initial support is at $360, with additional support at $352. |
| MDLZ Mondelez International, Inc. Class A ($69.96) - Food Beverages/Soap - Shares of MDLZ broke a spread quadruple top at $70 for its second consecutive buy signal. The 3 for 5’er returned to a positive trend at the start of the month, bringing it back into hold territory. From here, resistance lies at $70 with further resistance not seen until the upper $70s. |
| SCHW The Charles Schwab Corporation ($95.45) - Wall Street - SCHW moved higher to break a double top at $94, marking its third consecutive buy signal and a new all time high above $97. The 5 for 5'er ranks in the top quartile of the wall street sector matrix. SCHW is currently in overbought territory, so dollar cost average into the position or wait for a pullback in price before allocating. Initial support is at $90, with additional support at $86. |
