Comments include: ADBE, CAH, CF, CVNA, META, TMO, & TSM.
| ADBE Adobe Systems Incorporated ($343.27) - Software - ADBE moved lower Wednesday, breaking a double bottom at $344 and failing a test of its negative trend line. This 0 for 5'er has been in a negative trend all year and still sits in the bottom half of the software sector RS matrix. The technical picture is weak and deteriorating. The stock is at support from September with further support at $332. |
| CAH Cardinal Health, Inc. ($157.86) - Drugs - CAH inched up higher to complete a double top at $158, marking its second consecutive buy signal. The 5 for 5'er shifted up from a 4 after reversing back into a positive trend with its latest move. Additionally, the stock ranks in the top third of the drugs sector matrix. Long exposure can be made here. Initial strong support is at $146, with additional support at $138. |
| CF CF Industries Holdings, Inc. ($86.42) - Chemicals - CF fell to a sell signal Wednesday when it broke a double bottom at $88 and continued lower to $87, where it now sits against its bullish support line. A move to $86 would drop CF to an unfavorable 2 for 5'er. From here, overhead resistance sits at $92. |
| CVNA Carvana Company ($389.76) - Autos and Parts - CVNA reversed into Xs and broke a double top at $396 for a second buy signal. The stock is a 4 for 5'er that ranks within the top third of the Autos and Parts sector matrix. Okay to consider here on the breakout. Note the stock's all-time high resides at $408. Initial support lies at $376, while additional may be found in the $350 range. |
| META Meta Platform Inc. ($718.23) - Internet - META posted its consecutive sell signal today, the first pair of sell signals since the tariff induced selloff in April. Regardless, the stock remains a technically strong 5/5'er at the time of this writing. We will watch the middle of the trading band and some old resistance points from earlier in 2025 as logical stopping points in the near-term. Towards the downside, watch $696 as a point of support. |
| TMO Thermo Fisher Scientific Inc. ($532.82) - Healthcare - TMO reversed back into Xs to break a triple top at $504 and reach an intraday high above $528. The 4 for 5'er shifted up from a 3 after reversing back into a positive trend with its latest move. The weight of the evidence is mostly favorable, but the stock does now sit in slightly overbought territory. Wait for the 10-week trading band to normalize before considering. Initial support is at $464, with additional support at $448. |
| TSM Taiwan Semiconductor Manufacturing Co. (Taiwan) ADR ($288.96) - Semiconductors - TSM pushed higher Wednesday to break a double top at $288, notching a second consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in May and sits in the top third of the favored semiconductors sector RS matrix. Weekly momentum also recently flipped positive, suggesting the potential for further upside from here. While the technical picture is strong, TSM is overbought. Those looking to add exposure may be best served waiting for a pullback or normalization of the trading band. Initial support can be seen at $272 with further support at $228 and $224. Note that earnings are expected on 10/16. |
