Nasdaq Dorsey Wright

Comments include: ALK, CVNA, NKE, & SHEL.

ALK Alaska Air Group Inc ($59.91) - Aerospace Airline - ALK broke a double top at $60 for a fourth consecutive buy signal since July. This action will cause the market RS chart to reverse back into Xs, increasing the stock to a 4 for 5'er. Okay to consider here on the breakout or on a pullback to the mid $50s. Initial suport lies at $55, while additional can be found at $53, the bullish support line, and $51.

CVNA Carvana Company ($367.01) - Autos and Parts - CVNA broke a double top at $364 to complete a bearish signal reversal pattern. The stock now maintains a 4 technical attribute rating and ranks within the top quartile of the Autos and Parts sector matrix. Okay to consider here on the breakout or on a pullback to the mid $340 range. Initial support lies at $320, while additional can be found at $308 and $284.

NKE NIKE, Inc. ($79.41) - Textiles/Apparel - NKE broke a double top at $80 for a sixth consecutive buy signal since May. The stock is a 3 for 5'er that currently ranks within the top third of the Textiles/Apparel sector matrix, and the peer RS chart now resides within one box of a potential RS buy signal. Okay to consider here on the breakout or on a pullback to the mid $70s. Initial support can be found in the lower $70s, while the bullish supprot line sits at $66.

SHEL Shell PLC Sponsored ADR ($73.75) - Oil - SHEL gave a second consecutive buy signal and returned to a positive trend on Monday when it broke a double top at $74, where it now sits against long-term resistance. The positive trend change will promote SHEL to a 4 for 5'er. From here, the first level of support sits at $68.

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