Comments include: ADM, AMD, ANET, AVB, EXPE, FANG, RIOT, & Z.
| ADM Archer-Daniels-Midland Company ($62.34) - Food Beverages/Soap - Shares of ADM broke a double top at $63 for its fourth consecutive buy signal. The 3 for 5'er returned to a positive trend in April before regaining near-term relative strength versus the market and its peers. The stock sits in the top decile of its sector matrix as well, but still lacks long-term relative strength. It remains ok to hold for now. From here, resistance lies at $64 and $66. |
| AMD Advanced Micro Devices, Inc. ($205.57) - Semiconductors - AMD shot higher Monday, breaking a double top at $172 before reaching an intraday high at $224. This sharp improvement will likely move the stock into a favorable TA score range. However, the stock is now in a heavily overbought position. Initial support may be seen at prior resistance in the mid-$180s, with default chart support not seen until $164. |
| ANET Arista Networks Inc ($150.05) - Telephone - ANET picked up an additional 3% on the day, posting its sixth consecutive buy signal on its default chart in the process. The stock is a 4/5'er at the time of this writing, looking to attack all time highs at $156 on its default chart. We are in actionable territory here, so feel free to pick up exposure around current levels. Support is offered just above the middle of the trading band at $140 |
| AVB AvalonBay Communities, Inc. ($187.58) - Real Estate - Shares of AVB broke a double bottom at $188 to move back to a sell signal. The 2 for 5'er moved to a negative trend in April and lost near-term relative strength versus the market in July. Those with exposure could look to sell the stock here given its weakness. From here, support lies at $182 and $178. |
| EXPE Expedia Group Inc. ($224.41) - Leisure - EXPE reversed into Xs and broke a double top at $232 for a third buy signal as shares rallied to $240, marking a new all-time high. The stock is a 5 for 5'er that ranks within the top third of the Leisure sector matrix. Okay to consider on a pullback to the high $210s to $230 range. Initial support lies at $212, while additional can be found at $194. |
| FANG Diamondback Energy Inc ($149.74) - Oil - FANG returned to a buy signal and a positive trend Monday when it broke a triple top at $152, where it now sits against resistance. The positive trend change will promote FANG to a still unfavorable 2 for 5'er and the stock ranks in the bottom half of the oil sector matrix. From here, the first level of support sits at $142. Longer-term support can be found at $136, a level from which FANG has rallied three times since July. |
| RIOT Riot Platforms Inc. ($21.48) - Software - RIOT advanced Monday to break a double top at $21 before reaching $22 intraday. This 5 for 5'er moved to a positive trend in July and sits in the top decile of the favored software sector RS matrix. The weight of the technical evidence is favorable and improving, however, RIOT is overbought. Initial support is seen at $16.50. |
| Z Zillow Group Inc. Class C ($74.07) - Real Estate - Z shares broke a double bottom at $73 for its second consecutive sell signal. The stock moved to a negative trend last month and lost near-term relative strength versus its peers earlier this month, bringing it down to a 3 for 5'er. Those with exposure can continue to hold but should watch for further deterioration. Initial support lies at $68 and $65. |
