
AIG, DHI, IBM, OLLI
AIG American International Group, Inc. ($83.62) - Insurance - AIG shares moved higher today to break a double top at $84 to mark its first buy signal and enter a positive trend. This 3 for 5'er has been on an RS buy signal versus the market since June 2020. AIG shares are trading above the middle of their trading band with a weekly overbought/oversold reading of 47%. From here, support is offered at $76. |
DHI D.R. Horton, Inc. ($161.21) - Building - DHI broke a double bottom at $162 for a second sell signal since rallied to $184 in September. The stock remains a 5 for 5'er and ranks within the top third of the Building sector matrix. From here, support lies at $160, while the bullish support line sits at $150. |
IBM International Business Machines Corp. ($293.87) - Computers - IBM marched higher Tuesday to break double top at $300, notching a new all-time high. This 3 for 5'er has maintained a positive trend since July 2023 and has been on a market RS buy signal since January 2024. The weight of the technical evidence is favorable, however, IBM is in a heavily overbought territory. Initial support is not seen until $236 on the default chart. Note that earnings are expected 10/22. |
OLLI Ollies Bargain Outlet Holding Inc. ($123.31) - Retailing - OLLI broke a double bottom at $126 to return to a sell signal as shares fell to $124. The move also violates the bullish support line, which will drop the stock down to a 4 for 5'er trading in a negative trend. Support lies at current chart levels, while additional may be found $112. |