Comments include: CE, DGX, FIVE, MCK, RPM, & TPR.
| CE Celanese Corporation ($42.69) - Chemicals - CE fell to a sell signal Tuesday when it broke a triple bottom at $43. Tuesday's move adds to an already weak technical picture as CE is a 0 for 5'er that ranks in the bottom third of the chemicals sector matrix. From here, the next level of support sits at $37, CE's multi-year low and a level from which it has rallied four times this year. |
| DGX Quest Diagnostics Incorporated ($186.90) - Healthcare - DGX inched higher to break a double top at $186, marking its second consecutive buy signal and a new all-time high above $186. The 4 for 5'er shifted up from a 3 last month after reversing back into a positive trend. Additionally, the stock ranks in the top third of the healthcare sector matrix. Long exposure can be made here given the weight of the technical evidence. Initial support is at $178, with additional strong support at $166. |
| FIVE Five Below Inc ($155.12) - Retailing - FIVE broke a triple top at $156 to complete a shakeout pattern. The stock is a 5 for 5'er that ranks within the top quintile of the Retailing sector matrix. Okay to consider here on the breakout. Initial support lies at $140, while additional can be found in the $128 to $132 range. |
| MCK McKesson Corporation ($746.00) - Drugs - MCK shares moved higher today to break a double top at $728 to mark its third consecutive buy signal and reach a new all-time high. This 5 for 5'er has been in a positive trend since August and on an RS buy signal versus the market since March 2022. MCK shares are trading above the middle of their ten-week trading band with a weekly overbought/oversold reading of 63%. From here, support is offered at $688. |
| RPM RPM, Inc. ($119.63) - Chemicals - RPM fell to a sell signal Tuesday when it broke a double bottom at $120. The outlook for the stock remains positive, however, as RPM is a 5 for 5'er that ranks in the top half of the favored chemicals sector matrix. From here, the next level of support sits at $116. |
| TPR Tapestry Inc. ($115.78) - Textiles/Apparel - TPR broke a double top at $118 to return to a buy signal and mark a new all-time chart high. The stock is a 5 for 5'er that ranks within the top quintile of the Textiles/Apparel sector matrix and is accompanied by a yield fo 1.4%. Okay to consider here on the breakout or on a pullback to the mid $100s. Initial support lies at $93, while additional may be found at $85. |
