Comments include: ALL, CCJ, CPT, CRS, CVE, CVNA, DASH, EBAY, ETSY, EXR, FMC, GKOS, KO, MSFT, OLN, RACE, RBLX, RS, SHAK, SNOW, STLD, & STX.
| ALL The Allstate Corporation ($205.25) - Insurance - ALL shares moved higher today to break a double top at $200 to mark its first buy signal and return to a positive trend. This 4 for 5'er has been on an RS buy signal versus the market since April 2024. ALL shares are actionable at current levels with a weekly overbought/oversold reading of -34%. From here, support is offered at $192 and $190. |
| CCJ Cameco Corporation ($74.93) - Metals Non Ferrous - CCJ gave an initial sell signal Thursday when it broke a double bottom at $75. The outlook for the stock remains decidedly positive, however, as CCJ is a 5 for 5'er that ranks second out 14 names in the metals non ferrous sector matrix. From here, the next level of support sits at $70. |
| CPT Camden Property Trust ($108.86) - Real Estate - Shares of CPT broke a double bottom at $110 to move to a sell signal in anticipation of earnings after the close on Thursday. Today’s move also saw the stock return to a negative trend, bringing it down into hold territory as a 3 for 5’er. From here, support lies at $106 - $104, $99, then again in the mid $90s. |
| CRS Carpenter Technology Corporation ($249.39) - Steel/Iron - CRS was down more than 12% Thursday following its earnings release and gave second consecutive sell signal when it broke a double bottom at $260. The outlook for the stock remains favorable as CRS is a 5 for 5'er that ranks first out of 12 names in the steel/iron sector matrix. But, given the size of Thursday's decline it could see deterioration in its sector rank and relative strength metrics. From here, the next level of support sits at $240. |
| CVE Cenovus Energy Inc. ($15.20) - Oil - CVE gave a second consecutive buy signal and returned to a positive trend Thursday when it broke a spread triple top at $15.50, where it now sits against resistance. The weight of the evidence remains negative, however, as even with the positive trend change CVE is an unfavorable 1 for 5'er |
| CVNA Carvana Company ($384.95) - Autos and Parts - CVNA reversed into Xs and broke a double top at $348 as the stock rallied to a new all-time chart high at $408. The stock is a 5 for 5'er that ransk within the top quintile of the Autos and Parts sector matrix. Those seeking exposure to CVNA could consider the stock on a pullback to the $360 to $380 range. Initial support lies at prior resistance around $360, while additional can be found around $330. |
| DASH DoorDash, Inc. Class A ($250.56) - Restaurants - DASH broke a double top at $252 for a fourth consecutive buy signal and to mark a new all-time chart high. The stock is a 5 for 5'er that ranks within the top quintile of the Restaurants sector matrix. Okay to consider here on the breakout or on a pullback to $240 on the chart. Initial support lies at $236, while additional can be found at prior resistance at $212. |
| EBAY eBay Inc. ($91.36) - Retailing - EBAY broke a double top at $84 for a fourth buy signal as shares rallied to $92, marking a new all-time high. The stock is a 4 for 5'er, but today's action brings the market RS chart within one box of a market RS buy signal. EBAY now resides in overbought territory, so those seeking exposure to the stock would look for price consolidation in the upper $80 or around $90 before considering. Initial support lies at $78, whiel additional can be found at $73. |
| ETSY Etsy Inc ($57.19) - Retailing - ETSY reversed into Os and broke a double bottom at $60 completing a bullish signal reversal and ending a series of six buy signals that began in late April as shares fell to $56. The stock still maintains a 3 technical attribute rating and ranks within the top half of the Retailing sector matrix. Initial support lies at $55, while additional can be found in the $52 to $53 range. |
| EXR Extra Space Storage Inc. ($135.77) - Real Estate - Shares of EXR broke a double bottom at $144 after reporting earnings on Thursday, moving the stock back to a sell signal. Today’s move also saw the stock flip its trend back to negative, bringing it down to an unacceptable 2 for 5’er. Those with exposure should look to cut it loose eventually but might be best suited to wait for consolidation or reversal up given EXR’s intraday overbought/oversold (OBOS) reading of -85%. From here, support lies at $130 and $122. |
| FMC FMC Corporation ($39.04) - Chemicals - FMC fell to a sell signal Thursday when it broke a double bottom at $40. The move adds to an already weak technical picture as FMC is a 2 for 5'er that has been on a market RS sell signal since 2021. From here, the level of support on FMC's chart sits at $35, just above its multi-year low of $33. |
| GKOS Glaukos Corp. ($87.13) - Healthcare - GKOS reversed down into Os on Thursday, breaking a double bottom at $92 and reaching an intraday low below $84. The 2 for 5'er shifted down from a 3 after moving into a negative trend with its latest move. GKOS now sits in oversold territory, so wait for the 10-week trading band to normalize before selling your position. Long exposure should be avoided. Initial resistance is at $97, with additional resistance at $106. |
| KO The Coca-Cola Company ($68.21) - Food Beverages/Soap - Shares of KO broke a triple bottom at $68 to move back to a sell signal. The 3 for 5’er remains acceptable to hold for now but is dangerously close to moving below it bullish support line at $67. |
| MSFT Microsoft Corporation ($533.50) - Software - MSFT advanced Thursday to a new all-time high at $552 after a positive reaction to the company's earnings release. While the technical picture is robust, MSFT is in a heavily overbought position on a significant stem. Those looking to add exposure may be best served waiting for a pullback or normalization in the trading band. Initial support is not seen on the default chart until $356. Near-term support can be seen on the more sensitive 2-point chart at $510. |
| OLN Olin Corp ($18.94) - Chemicals - OLN returned to a sell signal Thursday when it broke a triple bottom at $18.50. Thursday's move adds to an already weak technical picture as OLN is a 0 for 5'er that ranks in the bottom decile of the chemicals sector matrix. From here, the next level of support on OLN's chart sits at $18, the multi-year low it hit earlier this year. |
| RACE FERRARI NV ($437.26) - Autos and Parts - RACE reversed into Os and broke a double bottom at $448, returning the stock to a sell signal as shares fell to $432. This action follows the stock rallying to a new all-time high at $512 earlier in the month. The stock will maintain a 5 for 5'er and rank within the top half of the Autos and Parts sector matrix. From here, support now lies at $392, the April chart low. |
| RBLX Roblox Corp. Class A ($136.48) - Leisure - RBLX broke a double top at $128 for an eighth consecutive buy signal as shares rallied to $150, marking a new all-time chart high. The stock is a 5 for 5'er that ranks 1st (out of 59) in the Leisure sector matrix. With the stock trading in extremely overbought territory, short-term holders may seek to lock in profits. Those seeking exposure will look for the stock to consolidate a current chart levels along with a normalization of the 10-week trading band before adding. Initial support now lies at $114. |
| RS Reliance Inc. ($290.13) - Steel/Iron - RS fell to a sell signal and a negative trend Thursday when it broke a triple bottom at $292. The negative trend change will drop RS to a still favorable 4 for 5'er. From here, the next level of support on RS's chart sits at $288. |
| SHAK Shake Shack Inc ($121.65) - Restaurants - SHAK reversed into Os and broke a double bottom at $132, returning the stock to a sell signal as shares fell to $114 on the chart. The stock continues to maintain a 5 technical attribute rating, but initial support now current lies at prior resistance in the upper $90s. Additional can be found in the lower $90 to upper $80 range. |
| SNOW Snowflake, Inc. Class A ($223.50) - Software - SNOW rose Thursday to break a double top at $228, notching a second consecutive buy signal and new 52-week high. This 4 for 5'er moved to a positive trend in April and sits in the top quintile of the favored software sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $212. Note earnings are expected on 8/20. |
| STLD Steel Dynamics Inc. ($127.56) - Steel/Iron - STLD fell to a sell signal and a negative trend Thursday when it broke a double bottom at $26, where it now sits against support. The negative trend change will drop STLD to an unfavorable 2 for 5'er. |
| STX Seagate Technology ($157.01) - Computers - STX advanced Thursday to break a double top and notch a new all-time high at $156. This 5 for 5'er moved to a positive trend in April and has been on an RS buy signal against the market since 2023. The weight of the technical evidence is strong and continues to improve. However, the stock is overbought. Initial support can be seen at $140. |
