Comments include: CVS, DKS, GOLF, NVS, PANW, & SHOP.
| CVS CVS Health Corp. ($77.55) - Retailing - CVS broke a double top at $78 for a third buy signal and to mark a new 52-week high. The stock is a 3 for 5'er that ranks within the top half of the Retailing sector matrix and is accompanied by a yield north of 3%. Okay to consider here on the breakout or on a pullback to $76 on the chart. Initial support lies at $74, while additional can be found at $70 and $65, the bullish support line. |
| DKS Dick's Sporting Goods, Inc. ($233.35) - Retailing - DKS broke a triple top at $236 for a third buy signal since June. The stock is a 3 for 5'er that ranks within the top half of the Retailing sector matrix and is accompanied by a yield north of 2%. Okay to conisder here on the breakout or on a pullback to $224 on the chart. Initial support lies at $220, while additional can be found in the $204 to $208 range. |
| GOLF Acushnet Holdings Corp ($80.47) - Leisure - GOLF broke a triple top at $81 to return to a buy signal as shares rallied to $82. The stock is a 5 for 5'er that ranks within the top half of the Leisure sector matrix and is accompanied by a yield north fo 1%. Okay to consider here on the breakout or on pullback toward the middle of the 10-week trading band at $77. Initial support lies at $74, while the bullish support line resides at $71. |
| NVS Novartis AG (Switzerland) ADR ($132.39) - Drugs - NVS inched higher to complete a double top break at $132, marking its third consecutive buy signal and a new all-time high. The 4 for 5'er shifted up from a 3 in June after reversing back into a positive trend. The stock ranks in the top half of the drugs sector matrix, offering an impressive yield of over 3%. The weekly OBOS indicates that the stock is in overbought territory, so wait for the 10-week trading band to normalize before considering. Initial support is at $122, with additional support at $114. Note that earnings are expected on 10/28. |
| PANW Palo Alto Networks Inc ($207.19) - Software - PANW advanced Friday to break a spread quadruple top at $212, notching a new all-time high for the first time since February. This 3 for 5'er moved to a positive trend in September and has maintained an RS buy signal against the market since 2023. The weight of the technical evidence is mixed but improving. Initial support can be seen at $198 with further support at $182. |
| SHOP Shopify Inc ($161.03) - Retailing - SHOP broke a double top at $160 to return to a buy signal as shares rallied to $162, a new all-time chart high. The stock is a 5 for 5'er that ranks within the top third of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to $150. Initial support lies at $140, while additional can be found at $134. |
