Nasdaq Dorsey Wright

Comments include: AAP, BAC, TLN, & U.

AAP Advance Auto Parts, Inc. ($60.20) - Autos and Parts - AAP broke a double top at $60 to return the stock to a buy signal. The stock is a 5 for 5'er that ranks within the top half of the Autos and Parts sector matrix and is accompanied by a yield of roughly 1.7%. Okay to consider here on the breakout as well as on into the mid $60s, should the stocks show followthrough. Note the stock's July rally high at $70. Initial support lies at $55, while additional can be found at $52.

BAC Bank of America ($50.14) - Banks - BAC shares moved higher today to break a triple top and complete a shakeout pattern at $50. 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 is now one box away from making a new multi-year high. Shares are actionable at current levels with a weekly overbought/oversold reading of 42%. From here, support is offered at $45.

TLN Talen Energy Corp ($376.20) - Utilities/Electricity - TLN reversed into Xs and broke a double top at $368 to return the stock to a buy signal as shares rallied to $380. The stock has been a 5 for 5'er since June of this year, and shares are on a pullback from all-time highs made earlier this month. Okay to consider here on the breakout or on a pullback to $360. Initial support lies at $352, while additional may be found at $336.

U Unity Software, Inc. ($40.12) - Software - U has a 5 for 5 TA rating and sits in the top decile of the software sector RS matrix. The stock has now given four consecutive buy signals and moved back to a positive trend in May. While the technical picture is strong, the stock is nearing overbought territory. Overhead resistance may be seen at $43 from December. Initial support can be found at $35.

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