Comments include: ASML, AVGO, CE, CNR, GE, IBKR, KSS, NBIX, PII, SHOP, & STLD.
| ASML ASML Holding NV ADR ($782.84) - Semiconductors - ASML pushed higher Friday to break a double top at $776, marking a second consecutive buy signal. This also moved the stock back to a positive trend, promoting it to a 3 for 5 TA rating. The weight of the technical evidence is mixed but improving. Initial support can be seen at $720. |
| AVGO Broadcom Ltd ($334.89) - Semiconductors - AVGO advanced Friday to break a double top at $312 before notching a new all-time high at $356. This 5 for 5'er has been in a positive trend since April and maintained an RS buy signal against the market since 2014. While the technical picture is decidedly positive, AVGO is nearing overbought territory. Initial support can be seen at $288. |
| CE Celanese Corporation ($48.73) - Chemicals - CE returned to a buy signal Friday with a double top break at $49. The outlook for the stock remains decidedly negative, however, as CE is a 0 for 5'er that ranks in the bottom third of the chemicals sector matrix. From here, the next level of overhead resistance sits at $50, meanwhile, support can be found at $44. |
| CNR Core Natural Resources Inc. ($75.27) - Oil - CNR returned to a buy signal Friday when it broke a double top at $75, where it now sits against its bearish resistance line. The weight of the evidence for CNR is moderately positive as the stock is a 3 for 5'er; a move to $76 would return CNR to a positive trend and promote it to a 4 for 5'er. |
| GE GE Aerospace ($279.23) - Aerospace Airline - Strong break for GE today. The stock remains a standout within its sector and has now posted a string of five consecutive buy signals. Nice support is offered below... and the name is in actionable territory around current levels. Feel free to add here. |
| IBKR Interactive Brokers Group, Inc. ($60.65) - Wall Street - IBKR shares moved lower today to break a triple bottom at $60 to mark its second consecutive sell signal. This 5 for 5'er has been in a positive trend since July 2023 and on an RS buy signal versus the market since October 2022. IBKR shares are trading near the middle of their ten-week trading band with a weekly overbought/oversold reading of -5%. From here, support is offered at $60. |
| KSS Kohl's Corporation ($16.48) - Retailing - KSS broke a double top at $17 for a third buy signal since the beginning of August. The stock improved to a 5 for 5'er in late August after giving both a market and peer RS buy signal. Okay to consider here on the breakout. Note resistance at $21, the July rally high. Initial support lies at $14.50, while additional can be found in the $12 range. |
| NBIX Neurocrine Biosciences ($144.10) - Biomedics/Genetics - NBIX reversed back into Xs to break a double top at $144, marking its fourth consecutive buy signal. The 4 for 5'er shifted up from a 3 last month after moving back into a positive trend. Additionally, the stock ranks in the top half of the biomedics/genetics sector matrix. The weekly OBOS indicates that the stock is in overbought territory so wait for the 10-week trading band to normalize before considering. Initial support is at $136, with additional support at $124. |
| PII Polaris Inc. ($59.00) - Leisure - PII broke a double top at $59 to complete a bullish triangle and count for a fifth buy signal since June as shares rallied to $60. The stock is a 4 for 5'er that ranks within the top quintile of the Leisure sector matrix and is accompanied by a yield of 4.7%. Okay to consider here on the breakout or on a pullback to the upper $50s. Intial support lies in the mid $50s, while additional can be found in the upper to $50 range with the bullish support line residing at $49. |
| SHOP Shopify Inc ($146.91) - Retailing - SHOP broke a double top at $146 to return to a buy signal. The stock is a 5 for 5'er that ranks within the top decile of the Retailing sector matrix. Okay to consider here on the breakout. Note the August rally high at $156. Initial support can be found at $134, while additional can be found at $116. |
| STLD Steel Dynamics Inc. ($134.09) - Steel/Iron - STLD returned to a buy signal and a positive trend Friday when it broke a triple top at $136. The positive trend change will promote STLD to an acceptable 3 for 5'er. From here, STLD faces overhead resistance at $138 and $142, while support can be found at $128. |
