Comments include: HCC, MRVL, PODD, SCCO, TMO, TRGP, & WMB.
| HCC Warrior Met Coal Inc ($57.75) - Oil - HCC fell to a sell signal Tuesday when it broke a double bottom at $58. The outlook for the stock remains positive, however, as HCC is an acceptable 3 for 5'er that ranks in the top decile of the oil sector matrix. From here, the next level of support is HCC's trend line, which currently sits at $52. |
| MRVL Marvell Technology Inc. ($72.07) - Semiconductors - MRVL declined Tuesday to break a double bottom at $74 before dropping to $72 intraday. This also caused the stock to move to a negative trend, demoting it to a 2 for 5 TA rating. The weight of the technical evidence is weak and deteriorating. Further support can be seen at $71 with additional support seen at $68 and $67. Overhead resistance may be seen at $80. Note that earnings are expected on 8/28. |
| PODD Insulet Corporation ($326.09) - Healthcare - Shares of PODD broke a double top at $324 for its second consecutive buy signal. The 4 for 5’er has traded in a positive dating back to April this year. Those looking to add PODD could do so here but should note the resistance around all-time highs at $328. |
| SCCO Southern Copper Corporation ($94.31) - Metals Non Ferrous - SCCO fell to a sell signal Tuesday when it broke a double bottom at $95 and continued lower to $94, where it now sits against its bullish support line. Tuesday's move adds to an already weak technical picture as SCCO is a 2 for 5'er that ranks 13th out of 14 names in the metals non ferrous sector matrix. |
| TMO Thermo Fisher Scientific Inc. ($498.28) - Healthcare - TMO shares broke a double top at $496 for its third consecutive buy signal. The 3 for 5’er moved back into a positive trend last month, However, TMO continues to lack market relative strength, keeping it in hold territory for the time being. From here, resistance is not seen until $608. Meanwhile, support can be found at $448 then $408 with the bullish support line also at $408. |
| TRGP Targa Resources Corp. ($160.85) - Oil Service - TRGP fell to a sell signal and a negative trend Tuesday when it broke a spread quadruple bottom at $160, where it now sits against support. The negative trend change will drop TRGP to an unfavorable 2 for 5'er; the stock also ranks in the bottom quintile of the oil service sector matrix. |
| WMB Williams Companies Inc. ($56.54) - Gas Utilities - WMB broke a triple bottom at $56 to return to a sell signal. The stock still maintains a 5 for 5'er that ranks within the top half of the Gas Utilities sector matrix and is accompanied by a yield of 3.5%. Support lies at current chart levels, while additional can be found at $52, the bullish support line. |
