Comments include: DOV, DOW, LH, LYB, MMM, URI, & VEEV.
| DOV Dover Corporation ($186.86) - Machinery and Tools - DOV moved higher today, posting its 4th consecutive buy signal off of 2025 lows in the process. The stock has picked up relative strength since those lows, clocking in as a perfect 5/5'er as we wrap up July. Localized support is seen at $186, with overhead resistance around all time highs dating back to February. |
| DOW Dow, Inc. ($24.54) - Chemicals - DOW was down more than 19% on Thursday following its earnings release and fell to a sell signal when it broke a quadruple bottom at $26. The stock continued lower to $25, taking out the last level of support it has found since 2020. Thursday's move adds to an already weak technical picture as DOW is a 0 for 5'er that ranks 45th of 46 names in the chemicals sector matrix. |
| LH Laboratory Corp. of America Holdings ($268.42) - Healthcare - LH moved higher to break a double top at $268, marking its third consecutive buy signal and a new all-time high above $280. The 4 for 5'er moved into a positive trend in April and ranks in the top quintile of the healthcare sector matrix. The weekly OBOS indicates that the stock is nearing overbought territory, but is still actionable at this level. Initial strong support is at $240-$244, with additional support at $212. |
| LYB LyondellBasell Industries NV ($60.17) - Chemicals - LYB fell to a sell signal Thursday when it broke a double bottom at $61. The move adds to an already weak technical picture as LYB is a 1 for 5'er that ranks in the bottom quartile of the chemicals sector matrix. From here, the next level of support sits at $57. LYB is expected to report earnings on 8/1. |
| MMM 3M Company ($149.32) - Chemicals - MMM gave an initial sell signal Thursday when it completed a bullish signal reversal at $148 on Thursday. The weight of the evidence remains marginally positive as MMM is a 3 for 5'er that ranks in the top third of the chemicals sector matrix. From here, the next level of support sits at $142. |
| URI United Rentals, Inc. ($870.97) - Machinery and Tools - Shares of URI boke a triple top at $832 for its fifth consecutive buy signal. The stock regained near-term market and peer relative strength this month, bringing it up to a strong 5 for 5’er. URI is now within striking distance of all-time highs but is trading above the top of its 10-week trading band, so those looking to add might best suited to wait for some pullback or consolidation. From here, support lies at $784 then $688 with the bullish support line also at $672. |
| VEEV Veeva Systems Inc. ($291.10) - Healthcare - VEEV inched higher to break a triple top at $292. The 5 for 5'er shifted up from a 4 last month after showing long term relative strength against the market. Additionally, VEEV ranks in the top decile of the healthcare sector matrix. Long exposure can be made here. Initial support is at $272, with additional support at $228. |
