Comments include: AVGO, GILD, MRVL, OXY, PR, RL, SNOW, VEEV.
| AVGO Broadcom Ltd ($340.01) - Semiconductors - AVGO returned to a buy signal Thursday with a double top break at $344. This stock has a 4 for 5 TA rating and sits in the top half of the favored semiconductors sector RS matrix. The weight of the technical evidence is favorable and improving again. Initial support can be seen at $328. Overhead resistance may be found at $372. |
| GILD Gilead Sciences, Inc. ($110.56) - Biomedics/Genetics - GILD inched lower to break a double bottom at $110. The 4 for 5'er moved down from a 5 in May after reversing into Os against its peers. GILD now sits right above its bullish support line. The technical picture is still strong overall, but continue to monitor for further technical deterioration. Support can be seen between $108-$110. |
| MRVL Marvell Technology Inc. ($86.88) - Semiconductors - MRVL advanced Thursday to break a spread triple top at $86, notching a second consecutive buy signal. This 3 for 5 TA stock moved back to a positive trend in September and saw weekly momentum recently flip positive, suggesting the potential for further upside from here. Initial support can be seen at $82. |
| OXY Occidental Petroleum Corporation ($44.34) - Oil - After completing three consecutive buy signals, OXY fell to a sell signal Thursday when it broke a double bottom at $44, where it now sits against its bullish support line. Currently, the weight of the evidence remains modestly positive as OXY is a 3 for 5'er, however, a move to $43 would drop the stock to an unfavorable 2 for 5'er. |
| PR Permian Resources Corp. ($12.38) - Oil - PR fell to a sell signal and a negative trend Thursday when it broke a double bottom at $12.50, where it now sits against support. The negative trend change will drop PR to an unfavorable 2 for 5'er. |
| RL Ralph Lauren ($321.04) - Textiles/Apparel - RL broke a double top at $320 to return to a buy signal and match the all-time chart. The stock is a 5 for 5'er that ranks within the top third of the Textiles/Apparel sector matrix and is accompanied by a yield north of 1%. Okay to consider here on the breakout. Initial support lies at $300, while addditional may be found at $284 and $276. |
| SNOW Snowflake, Inc. Class A ($240.06) - Software - SNOW rose Thursday to break a double top at $236 before reaching $240 intraday. This stock has a 4 for 5 TA rating and sits in the top quartile of the favored software sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $216 with further support at $194. Overhead resistance may be seen at $248 from August. |
| VEEV Veeva Systems Inc. ($300.79) - Healthcare - VEEV inched higher to complete a triple top at $300, marking a multi-year high. The 5 for 5'er moved up from a 4 in June after reversing back into an RS buy signal against the market. Additionally, the stock ranks in the top quintile of the healthcare sector matrix. Long exposure can be made here. Previous resistance can serve as support, so look for possible support at $296. Additional support at $264 |
