Comments include: AAPL, AMAT, APP, ATO, CELH, CHRD, DUOL, FLUT, HOOD, LLY, NTR, RL, UBER, USFD, V, & XOM.
| AAPL Apple Inc. ($220.03) - Computers - AAPL rose Thursday to give a third consecutive buy signal at $220. This 3 for 5'er moved back to a positive trend in July, showing a consistent series of higher lows since April. The weight of the technical evidence is mixed but improving. Initial support can be seen at $204 with further support seen at $196 and $194. |
| AMAT Applied Materials, Inc. ($183.15) - Semiconductors - AMAT returned to a buy signal Thursday with a double top break at $184 before reaching $186 intraday. This 4 for 5'er moved to a positive trend in May and has maintained an RS buy signal against the market since 2023. The weight of the technical evidence is favorable and improving again. Initial support is seen at $176 with further support at $166. Overhead resistance can be seen at $192. Note that earnings are expected on 8/14. |
| APP AppLovin Corp. Class A ($437.05) - Software - APP moved higher Thursday after the company's earnings release, breaking a triple top at $400 before rising over 11% intraday to $448. This also caused the stock to reverse back into a column of Xs against the market, promoting it to a 5 for 5 TA rating. The weight of the technical evidence is strong and improving. Initial support can be seen at $380 with further support at $368. Overhead resistance can be seen at the all-time highs of $512-520. |
| ATO Atmos Energy Corp ($164.49) - Gas Utilities - ATO broke a double top at $162 for a second buy signal as shares rallied to $166, matching the all-time chart high. The stock is a 4 for 5'er that ranks within the top third of the Gas Utilities sector matrix and is accompanied by a yield of 2.2%. Okay to consider on a pullback to $160 on the chart. Initial support lies at $150, while additional can be found in the lower $140s. |
| CELH Celsius Holdings, Inc. ($49.90) - Food Beverages/Soap - Shares of CELH broke a double top at $49 after reporting earnings. Today’s move saw the stock return to a positive trend for the first time in over a year, bringing it up to a perfect 5 for 5’er. Those looking to add exposure could consider doing so here or closer to the middle of the trading band around $45. |
| CHRD Chord Energy Corp. ($99.81) - Oil - CHRD fell to a sell signal Thursday when it broke a double bottom at $100. Thursday's move adds to an already weak technical picture as CHRD is a 1 for 5'er that ranks in the bottom half of the oil sector matrix. From here, the next level of support on CHRD's chart sits at $97. |
| DUOL Duolingo, Inc. Class A ($391.56) - Business Products - Shares of DUOL skyrocketed on strong earnings, ending its streak of six consecutive sell signals after breaking a triple top at $360. Today’s move also returned the stock to a positive trend, bringing it back into acceptable territory. Traditional support for the fund lies at $336 and $332, but previous resistance in the $380 to $356 range could also serve as future support as well. |
| FLUT Flutter Entertainment Plc ($306.29) - Gaming - FLUT revesed into Xs and broke a double top at $312 for a third buy signal and to mark a new all-time high. The stock improved to a 5 for 5'er after reversing back into Xs on the market RS chart during July's trading. This action places the stock in overbought territory so those seeking expsoure will look for a pullback to $300. Initial support lies at $296, while additional can be found at $264. |
| HOOD Robinhood Markets, Inc. Class A ($109.92) - Wall Street - HOOD shares moved higher today to break a double top at $110 to mark its first buy signal and continued higher to reach a new all-time high. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February 2024. HOOD shares are trading near the top of their trading band in heavily overbought territory. From here, support is offered at $94. |
| LLY Eli Lilly and Company ($644.59) - Drugs - LLY moved down further, completing a bearish catapult at $728 and marking its second consecutive sell signal. The 1 for 5'er shifted down from a 2 after exhibiting long term relative weakness against the market. Additionally, the stock ranks in the bottom half of the drugs 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 position. Long exposure should be avoided. Initial resistance is at $768, with additional resistance at $816. |
| NTR Nutrien Ltd. ($55.95) - Chemicals - NTR fell to a sell signal Thursday when it broke a triple bottom at $57. The technical outlook for the stock remains marginally positive as NTR is a 3 for 5'er that ranks in the top half of the chemicals sector matrix. From here, the next level of support on NTR's chart sits at $54, while its bullish support line now sits at $53. |
| RL Ralph Lauren ($281.29) - Textiles/Apparel - RL reversed into Os and broke a double bottom at $284 to initiate a shakeout pattern as shares fell to $276. The stock is a 5 for 5'er that ranks within the top quintile of the Textiles/Apparel sector matrix. The action point for the shakeout pattern would be upon a reversal into Xs at $288, while the pattern would be complete upon a triple top break at $308. Initial support lies at $260. |
| UBER Uber Technologies, Inc. ($92.23) - Transports/Non Air - UER advanced today, returning to a PNF buy signal in the process. The stock remains a strong attribute stock at the time of this writing, and the upside move confirms some support just below the middle of the trading band between $86 & $87. Holders are fine to continue to do so, and those looking to take satellite positions should feel comfortable entering here. |
| USFD US Foods Holding Corp. ($80.13) - Food Beverages/Soap - Shares of USFD broke a double bottom at $81 to move to a sell signal. However, a reversal back into a column of Xs would initiate the start of a shakeout patter, which would be a bullish pattern for the stock. USFD also remains a 5 for 5’er and is back to trading in actionable territory. From here, support lies at $76 while previous resistance in the low $70s could serve as future bounce points as well. |
| V Visa Inc. ($332.05) - Finance - V shares moved lower today to break a double bottom at $332 to mark its third consecutive sell signal. This 5 for 5'er has been in a positive trend since October 2022 and on an RS buy signal versus the market since November 2012. V shares are trading below the middle of their ten-week trading band with a weekly overbought/oversold reading of -36%. From here, support is offered at $320 and $316. |
| XOM Exxon Mobil Corporation ($105.95) - Oil - XOM fell to a sell signal Thursday when it broke a double bottom at $106, where it now sits against its bullish support line. The weight of the evidence remains moderately positive as XOM is a 3 for 5'er that ranks in the top half of the oil sector matrix. Beyond the bullish support line, the next level of support sits at $102. |
