Comments include: BBW, CEG, GEV, ORCL, PBPB, PSTG, & SNPS.
| BBW Build-A-Bear Workshop, Inc. ($73.38) - Retailing - BBW broke a double top at $73 for a seventh buy signal sicne May and to mark a new all-time chart high. BBW is a 5 for 5'er that ranks within the top decile of the Retailing sector matrix and is accompanied by a yield north of 1%. The stock now maitains a weekly overbought reading north of 100%, so those seeking exposure are best served by look for price consolidation in the lower $70s along with a normalization of the 10-week trading band before considering. Initial support lies at $69, while additional may be found at $59. |
| CEG Constellation Energy Corporation ($320.37) - Utilities/Electricity - CEG reversed into Xs and broke a double top at $316 to complete a bearish signal revesal and return to a buy signal as shares rallied to $328. This ends a series of four sell signals following the stock rally to a new chart high in early August. The stock is a 3 for 5'er that ranks within the top quartile of the Electric Utilities sector matrix. Okay to consider here on the breakout. Initial support lies at $296, while addditional may be found in the mid to upper $280 range. |
| GEV GE Vernova Inc. ($640.95) - Utilities/Electricity - GEV broke a double top at $608 to return to a buy signal as shares rallied to $640. This ends a series of three sell signals following the stock rally to match the chart high in early August. The stock has been a 5 for 5'er since early June. Okay to consider here on the breakout. Initial support lies at 568 while addditional may be found at $544 and $520. |
| ORCL Oracle Corporation ($328.33) - Software - ORCL jumped higher Wednesday after the company's earnings report, breaking a double top at $260 before climbing over 40% intraday to a new all-time high at $344. This 5 for 5'er moved to a positive trend in May and has been on a market RS buy signal since 2020. While the technical picture remains very strong, the stock is in a heavily extended position now. Those looking to add exposure may be best served waiting for a pullback or normalization in the trading band. |
| PBPB Potbelly Corporation ($17.00) - Restaurants - PBPB broke a double top at $14 to complete a bullish catapult as the stock rallied to a new multi-year high at $17. This action brings the stock to a relative strength buy signal against the market, increasing PBPB to a 5 for 5'er for the first time since early 2024. The rally brings PBPB to its highest overbought reading in the stock's history with a Weekly OBOS reading north of 150%. Those seeking exposure to the stock should look for price consolidation within the $15 to $16 range along with a normalization of the 10-week trading band before considering. Support for the stock can be found at prior resistance in the $14 range. |
| PSTG Pure Storage ($81.15) - Computers - PSTG moved higher to break a double top at $81 before reaching $82 intraday. This 5 for 5'er moved to a positive trend in July and has given five consecutive buy signals. The stock also sits near the top of the computers sector RS matrix. The weight of the technical evidence is favorable and improving. However, PSTG is in overbought territory. Initial support can be seen at $75. |
| SNPS Synopsys Inc ($387.78) - Software - SNPS fell Wednesday after the company's earnings release, breaking a double bottom at $584 before dropping all the way to $387 intraday. This led the stock to give a sell signal against the market and move to a negative trend, moving it to a weak TA rating. The technical picture is now weak, however, SNPS is in a washed out position with the potential for near-term support close by at $368. Those with current exposure may consider waiting to sell on a potential rally into the low $400s. |
