Comments include: ALK, AMR, CL, CLF, CNR, CTVA, HCC, JPM, OLLI, & UBER.
| ALK Alaska Air Group Inc ($59.74) - Aerospace Airline - ALK reversed into Os and broke a double bottom at $61 to initiate a shakeout pattern as shares fell to $60. The stock is a 4 for 5'er that ranks within the top third of the Aerospace Airline sector matrix. The action point for the shakeout pattern would be upon a reversal into Xs at $63, while the pattern would be complete upon a triple top break at $66. Support lies at $56, the bullish support line. |
| AMR Alpha Metallurgical Resources Inc. ($155.62) - Oil - AMR was up almost 9% on Monday and returned to a buy signal when it broke a double top at $148. While AMR ranks in the top decile of the oil sector matrix, the outlook for the stock remains negative as it is an unfavorable 2 for 5'er. From here, the next level of resistance sits at $168, while support can be found at $138. |
| CL Colgate-Palmolive Company ($82.13) - Household Goods - Shares of CL broke a double bottom at $82 for its second consecutive sell signal. The stock has deteriorated significantly recently, losing relative strength versus the market while losing near-terms strength versus its peers too, bringing it down to an unacceptable 1 for 5’er. Those with exposure could look to cut loose here. From here, initial support lies at $76 then $68. |
| CLF Cleveland-Cliffs Inc. ($11.85) - Steel/Iron - CLF gave a second consecutive buy signal and returned to a positive trend Monday when it broke a double top at $12. The positive trend change will promote the stock to an acceptable 3 for 5'er. From here, the first level of support on CKF's chart sits at $9.50. |
| CNR Core Natural Resources Inc. ($77.25) - Oil - CNR gave a second consecutive buy signal and returned to a positive trend Monday when it broke a double top at $76. The positive trend change will promote CNR to a 4 for 5'er. From here, the next level of resistance sits at $78, while CNR now finds support at $72, where its bullish support line also currently sits. |
| CTVA Corteva Inc ($69.40) - Chemicals - CTVA gave an initial sell signal Monday when it broke a double bottom at $70. The weight of the evidence remains decidedly positive as CTVA is a 5 for 5'er that ranks in the top third of the chemicals sector matrix. From here, the next level of support sits at $69; beyond that level, however, CTVA shows no additional support on its default chart until its bullish support line at $59. |
| HCC Warrior Met Coal Inc ($61.84) - Oil - After giving two consecutive sell signals HCC returned to a buy signal Monday when it broke a double top at $61. Monday's move adds to a marginally positive technical picture as HCC is a 3 for 5'er and ranks near the top of the oil sector matrix. From here, the next level of resistance sits at $63, a level HCC failed to break through on two occasions in August. |
| JPM J.P. Morgan Chase & Co. ($309.11) - Banks - JPM shares moved higher today to break a double top at $308 to mark its fourth 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 March 2024. JPM shares are actionable at current levels and have support offered from $284-$292. |
| OLLI Ollies Bargain Outlet Holding Inc. ($134.89) - Retailing - OLLI reversed into Xs and broke a double top at $136 to return the stock to a buy signal. The move also flips the trend back to positive, which will increase the stock to a 5 for 5'er. Okay to consider here on the breakout. From here, resistance lies at $140, which dates back to July. Support lies in the mid to upper $120s with the bullish support line sitting at $128. |
| UBER Uber Technologies, Inc. ($98.29) - Transports/Non Air - UBER broke to new all-time highs today, returning to a PnF buy signal in the process. The strong 5/5'er is now up roughly 60% this year and looks to break out of a trading range from the low to mid $90's. Those looking to add exposure are fine to do so here. Watch support at $89. |
