Comments include: DHR, FIVE, KO, MMM, & NKE.
| DHR Danaher Corporation ($190.96) - Healthcare - DHR inched lower to break a triple bottom at $192. The 2 for 5'er shifted to a negative trend with its latest move. Additionally, the stock ranks at the bottom of the healthcare sector matrix. A sell can be made here. Strong support can be seen at $186. |
| FIVE Five Below Inc ($138.40) - Retailing - FIVE broke a double bottom at $140 to initiate a shakeout pattern and end a series of eight consecutive buy signals. The stock is a 5 for 5'er that ranks within the top decile of the Retailing sector matrix. The action point for the shakeout pattern would be a reversal into Xs at $146, while the pattern would be complete upon a triple top break at $156. Support lies at in the $128 to $132 range. |
| KO The Coca-Cola Company ($67.17) - Food Beverages/Soap - Shares of KO broke a double bottom at $66 for its second consecutive sell signal. Today’s market action also saw the stock flip its trend to negative, bringing it down to a unacceptable 1 for 5’er after losing near-term strength versus the market yesterday. Those with exposure could look to cut it loose here. From here, initial support lies at $61 and $58. |
| MMM 3M Company ($158.21) - Chemicals - MMM returned to a buy signal Friday when it broke a double top at $160. Friday's move adds to moderately positive technical picture as MMM is a 3 for 5'er and ranks in the top third of the chemicals sector matrix. From here, overhead resistance sits at $164, the multi-year high MMM reached in July; support can be found at $152. |
| NKE NIKE, Inc. ($72.95) - Textiles/Apparel - NKE broke a double bottom at $72 to complete a bullish signal reversal pattern and end a series of six consecutive buy signals. The stock maintains a 3 technical attribute rating, but now ranks outside of the top half of the Textiles sector matrix. Support lies in the lower $70s, while the bullish support line sits at $67. |
