
Comments include: ADSK, AXP, DVN, & FANG.
ADSK Autodesk, Inc. ($314.70) - Software - ADSK rose after the company's earnings release to break a double top at $312 before matching its 52-week high at $324. This 5 for 5'er moved to a positive trend in May and sits in the top half of the software sector RS matrix. The weight of the technical evidence is favorable and continues to improve. Initial support can be seen at $284 with further support at $280. |
AXP American Express Company ($330.58) - Finance - AXP shares moved higher today to break a double top at $332 to mark its third consecutive buy signal and reach a new all-time high. This 5 for 5'er has been in a positive trend since November 2023 and on an RS buy signal versus the market since February 2022. AXP shares are trading in actionable territory with support offered from $284-292. |
DVN Devon Energy Corporation ($36.07) - Oil - DVN gave a third consecutive buy signal and returned to a positive trend Friday when it broke a triple top at $36. The positive trend change will promote DVN to a still unfavorable 2 for 5 technical attribute rating. From here, overhead resistance sits at $37 while support can be found at $32. |
FANG Diamondback Energy Inc ($148.37) - Oil - FANG returned to a buy signal and a positive trend Friday when it broke a double top at $150. The outlook for the stock remains negative as even with the positive trend change FANG is a 2 for 5'er and ranks in the bottom half of the oil sector matrix. |