Comments include: ADM, BAC, CIGI, DUK, PLTR, VRTX, & WMT.
| ADM Archer-Daniels-Midland Company ($57.52) - Food Beverages/Soap - Shares of ADM broke a triple top at $57 for its third consecutive buy signal. Today’s move also saw the stock return to a positive trend for the first time since 2023. Despite the stock’s move higher, it still just a 1 for 5’er given its lack of relative strength. Continue to wait for further improvement before looking to add. From here, resistance lies at $62 then $66. |
| BAC Bank of America ($45.66) - Banks - After failing to take out multi-year resistance earlier in August, BAC shares headed lower today to break a double bottom at $45 to mark its first sell signal. This 3 for 5'er has been in a positive trend since March 2024 but on an RS sell signal versus the market since March 2023. BAC shares are trading near the middle of their ten-week trading band with a weekly overbought/oversold reading of -6%. From here, support is offered at $34. |
| CIGI Colliers International Group Inc. ($155.90) - Real Estate - Shares of CIGI broke a double top at $156 for its third consecutive buy signal. The 4 for 5’er is nearing multi-year highs at $156 but appears somewhat overextended above the top of its 10-week trading band. Those looking to add should wait for consolidation or pullback. Initial support lies at $148 while further support starts at the bullish support line at $120. |
| DUK Duke Energy Corporation ($125.19) - Utilities/Electricity - DUK broke a triple top to complete a shakeout pattern, return to a buy signal, and mark a new all-time high. The stock is a 3 for 5'er that ranks within the top half of the Electric Utilities sector matrix while being accompanied by a yield of roughly 3.5%. Okay to consider here on the breakout or on a pullback to $120 on the chart. Initial support lies at $112, while the bullish support line resides at $106. |
| PLTR Palantir Technologies Inc. Class A ($173.36) - Software - PLTR rose Tuesday to break a triple top at $162 before notching a new all-time high at $176 after the company's earnings release. This 5 for 5'er has maintained an RS buy signal against the market since 2023 and sits in the top 10% of the favored software sector RS matrix. The weight of the technical evidence is overwhelmingly positive, however, PLTR is in a heavily overbought position. Those looking to add exposure would be best served easing in or waiting for price consolidation. Initial support can be seen at $152 with further support at $146. |
| VRTX Vertex Pharmaceuticals Incorporated ($375.56) - Biomedics/Genetics - VRTX moved lower to complete a bearish catapult at $416 and reach an intraday low below $380, marking its second consecutive sell signal. The 1 for 5'er shifted down from a 2 with its latest move, after exhibiting long term relative weakness against the market. Additionally, the stock is in the bottom half of the biomedics/genetics sector matrix. The weekly OBOS indicates that the stock is 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 $480, with additional resistance at $504. |
| WMT Walmart Inc. ($99.30) - Retailing - WMT broke a triple top at $100 to return to a buy signal and match the June rally high. The stock is a 4 for 5'er that maintains long-term relative strength against both the market and its peer group. Okay to consider here on the breakout. Note additional resistance lies at $104, the stock's all-time high. Initial support lies in the mid and lower $90s. |
