Comments include: ALK, BIDU, DLTR, FI, HWKN, KMB, NRG, NVDA, PHM, SNDK, TOST, & Z.
| ALK Alaska Air Group Inc ($54.32) - Aerospace Airline - ALK broke a double bottom at $56 for a second sell signal since rallying to $65 earlier this month.. The move violates the bullish support line, which will drop the stock down to a 3 for 5'er, and places the market RS chart within 1% of reversing into a column of Os. Support lies at current chart levels, $55, while additional may be found at $51. |
| BIDU Baidu, Inc. (China) ADR ($137.28) - Internet - BIDU rose Monday to break a double top at $140, marking a fourth consecutive buy signal and a new multi-year high. This 5 for 5'er moved to a positive trend in August sits near the top of the favored internet sector RS matrix. The stock also just moved back to a back signal on its RS charts against the markets and its peer group. The weight of the technical evidence is favorable, however, BIDU is overbought. Initial support is seen at $132 with further support not seen until the upper $100s on the 1-point chart. |
| DLTR Dollar Tree, Inc. ($94.92) - Retailing - DLTR broke a double bottom at $94 for a second sell signal since rallying to $118 in August. The stock has fallen to a 1 for 5'er after seeing the peer and market RS charts reverse into Os earlier in September. From here, support lies at $93, while additional may be found at $85 and $87. |
| FI Fiserv, Inc. ($130.07) - Finance - FI shares moved lower today to break a double bottom at $130 to mark its second consecutive sell signal and complete a bearish triangle. This 2 for 5'er has been in a negative trend since July but on an RS buy signal since 2008. FI shares are trading below the middle of their ten-week trading band with a weekly overbought/oversold reading of -43%. |
| HWKN Hawkins Chemical Inc ($172.17) - Chemicals - HWKN fell to a sell signal Monday when it broke a double bottom at $168. The outlook for the stock remains positive, however, as HWK is a 5 for 5'er that ranks in the top decile of the chemicals sector matrix. From here, the next level of support on HWKN's chart sits at $164. |
| KMB Kimberly-Clark Corporation ($124.07) - Household Goods - Shares of KMB broke a spread triple bottom at $124 for its second consecutive sell signal. The stock has weakened from its highs this year, flipping its trend to negative and losing near-term market strength, bringing it down to an unacceptable 2 for 5’er. Those with long positions could look to sell the stock here. From here, initial support lies at $118 then $110. |
| NRG NRG Energy, Inc. ($170.00) - Utilities/Electricity - NRG reversed into Xs and broke a double top at $170 to complete a bullish catapult. The stock is a 5 for 5'er that ranks within the top half of the Electric Utilities sector matrix and is accompanied by a yield north of 1%. Okay to consider here on the breakout or on a pullback to $164 on the chart. Note the all-time chart high lies at $174. Initial support lies at $162, while the recent low resides at $142. |
| NVDA NVIDIA Corporation ($183.22) - Semiconductors - NVDA advanced Monday to break a double top at $182, ending a streak of consecutive sell signals. This 4 for 5'er moved to a positive trend in May and sits in the top third of the favored semiconductors sector RS matrix. The weight of the evidence remains strong and NVDA has normalized in price over the past few weeks. The stock is at overhead resistance at $184, and would provide further positive confirmation with a breakout at $186. Initial support can be seen at $170 and $166. |
| PHM PulteGroup, Inc. ($129.50) - Building - PHM broke a double bottom at $130, ending a series of buy signals that began in mid-April. The stock maintqins a 4 technical attribute rating and countinues to rank within the top third of the Building sector matrix. From here, support lies at $124, while additional may be found in the $108 to $112 range. |
| SNDK SanDisk Corp ($104.00) - Computers - SDSK rose Monday to break a double top at $104 before reaching $108 intraday. This marks a new all-time high for the 5 for 5'er that has been in a positive trend since June. The weight of the technical evidence is strong, however, the stock is in a heavily overbought position. Initial support is seen at $97. |
| TOST Toast, Inc. Class A ($38.66) - Restaurants - TOST reversed into Os and broke a double bottom at $38 for a third sell signal since peaking at $49. The stock has fallen to a 3 for 5'er following a market RS chart in mid-September. From here, support on the default chart resides at $29, while additional support may be found on the 0.50 point per box chart at $32 and $35. |
| Z Zillow Group Inc. Class C ($81.04) - Real Estate - Shares of Z broke a double bottom at $84, ending its streak of three consecutive buy signals. Today’s move also saw the stock move back to a negative trend, bringing it down a 4 for 5’er. While those with exposure can continue holding, the stock should be monitored for further deterioration. From here, support lies at $81 then again from $79 to $78. |
