Comments include: CRWD, CVNA, DRI, INTC, PLTR, TRGP, & WLK.
| CRWD CrowdStrike Holdings, Inc. Class A ($502.63) - Software - CRWD advanced Thursday to break a double top at $456 before reaching $504 intraday. This 4 for 5’er moved to a positive trend in April and has been on an RS buy signal against the market since 2023. The weight of the technical evidence is favorable and improving. However, the stock is entering overbought territory with overhead resistance seen close by at $512. Initial support may be seen at $408. |
| CVNA Carvana Company ($387.82) - Autos and Parts - CVNA broke a double top at $384 to return to a buy signal as shares rallied to $396. The stock is a 4 for 5'er that ranks within the top third of the Autos and Parts sector matrix. Okay to consider on the breakout or on a pullback toward the middle of the 10-week trading band. Initial support lies at $352, while additional may be found at $320. |
| DRI Darden Restaurants, Inc. ($188.57) - Restaurants - DRI reversed into Os and broke a double bottom at $198 to return to a sell signal as shares fell to $188. The move also violates the bullish support line, which along with a reverseal into Os on the market RS chart, will drop DRI down to a 3 for 5'er. Support lies at current levels, while additional may be found in the $180 to $182 range. |
| INTC Intel Corporation ($30.57) - Semiconductors - INTC moved higher Thursday to break a double top at $27 before reaching $32 intraday. This 4 for 5’er moved to a positive trend in August and has now given two consecutive buy signals. The weight of the technical evidence is favorable and improving. Initial support can be seen at $23 with further support at $20. Overhead resistance can next be seen at $37. |
| PLTR Palantir Technologies Inc. Class A ($176.97) - Software - PLTR rose Thursday to break a double top at $172 before reaching $178. This 5 for 5’er moved to a positive trend in April and has been on an RS buy signal against the market since 2023. We also see that PLTR sits in the top quintile of the software sector RS matrix. The weight of the technical evidence is strong and continues to be resilient. The stock is also in actionable territory on this breakout. Overhead resistance may be seen at the $190 all-time highs. Initial support can be seen at $162 with further support at $150. |
| TRGP Targa Resources Corp. ($170.12) - Oil Service - TRGP returned to a buy signal and a positive trend Thursday when it broke a double top at $170, where it now sits against resistance. The positive trend change will promote the stock to an acceptable 3 for 5'er. From here, the first level of support sits at $158. |
| WLK Westlake Corp. ($84.96) - Chemicals - WLK fell to a sell signal and a negative trend on Thursday when it broke a double bottom at $85, where it now sits against support. The negative trend change will drop WLK to a 1 for 5'er and the stock ranks in the bottom half of the chemicals sector matrix. |
