Comments include: ALB, DELL, INTU, NVDA, & WOR.
| ALB Albemarle Corp ($75.32) - Chemicals - ALB fell more than 10% intraday on Monday and fell to a sell signal when it completed a bullish signal reversal at $77. The weight of the evidence remains marginally positive as ALB is a 3 for 5'er that ranks in the top 10% of the chemicals sector matrix. From here, the next level of support sits at $70. ALB is expected to report earnings on 7/30. |
| DELL Dell Technologies Inc Class C ($133.86) - Computers - DELL pushed higher Monday to break a double top at $132, notching a third consecutive buy signal. This 3 for 5'er moved to a positive trend in April and sits in the top third of the favored computers sector RS matrix. The weight of the technical evidence is mixed but showing near-term improvement. Initial support can be seen at $124 and $122. Further overhead resistance may be seen at $146. |
| INTU Intuit Inc. ($798.73) - Software - INTU rose Monday to break a double top at $792, notching a third consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in April and sits in the top quartile of the favored software sector RS matrix. The technical picture is favorable and continues to strengthen. Initial support can be seen at $744. |
| NVDA NVIDIA Corporation ($176.77) - Semiconductors - NVDA advanced Monday to break a double top at $176, notching a fifth consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in May and has maintained an RS buy signal against the market since early 2023. The weight of the technical evidence continues to be strong here. However, NVDA is now in overbought territory, suggesting heightened potential for some near-term consolidation. Initial support can be seen at $166 with further support seen at $152. |
| WOR Worthington Enterprises Inc. ($60.96) - Steel/Iron - WOR gave an initial sell signal Monday when it broke a double bottom at $61. The outlook for the stock remains favorable as WOR is a 5 for 5'er that ranks second out of 12 names in the steel/iron sector matrix. From here, the level of support on WOR's chart sits at $58. |
