| AEM Agnico-Eagle Mines Ltd. ($161.73) - Precious Metals - AEM fell to a sell signal Thursday when it broke a double bottom at $162. The outlook for the stock remains decidedly positive as it holds a perfect 5 for 5 technical attribute rating. From here, the next level of support on AEM's chart sits at $158. Earnings are expected on 10/29. |
| C Citigroup, Inc. ($95.64) - Banks - C shares moved lower today to break a double bottom at $96 to mark its first sell signal. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since January. C shares are trading near the middle of their trading band with a weekly overbought/oversold reading of 0%. From here, support is offered at $93. |
| CEG Constellation Energy Corporation ($376.04) - Utilities/Electricity - CEG broke a double top at $380 for a fifth buy signal and to mark a new all-time high. This move will cause the market RS chart to give a buy signal, increasing the stock to a 4 for 5'er. Okay to consider here on the breakout or on a pullback to the $360 range. Initial support lies at $356, while additional resides in the $316 to $324 range. |
| ITW Illinois Tool Works Inc. ($248.29) - Machinery and Tools - Two trains of thought for ITW on today's sell signal. First, the stock is a 3/5 attribute stock (technically acceptable) and is nearing its tend line after posting a string of buy signals on its default chart. On the other, the stock has gone virtually no where over the the last two years and doesn't seem to have upwards staying power we would look for in a risk-on market environment. With that aid, avoid for now as the risk/reward profile isn't attractive enough around current levels. |
| ORLY O'Reilly Automotive, Inc. ($100.04) - Autos and Parts - ORLY broke a double bottom at $100 to initiate a shakeout pattern. The stock is a 4 for 5 'er that has maintained long-term RS against the market since September 2002 and its peer group since August 2011. The action point for the shakeout pattern would be upon a reversal back into Xs, currently at $106, while the pattern would be complete upon a triple top break at $110. Support can be found at prior resistance in the mid $90s, while additional support can be found in the mid $80s. |
| RACE FERRARI NV ($405.20) - Autos and Parts - RACE broke a double bottom at $464, returning the stock to a sell signal as shares fell roughly 15% during 10/9's trading to $408. This move will cause the market and peer RS charts to reverse into Os, which will drop the stock down to a 3 for 5'er. With support at $432, owners of the stock will now look to support at $392 and in the $370 range. |
| RGLD Royal Gold Inc ($192.73) - Precious Metals - RGLD fell to a sell signal Thursday when it broke a double bottom at $192. The outlook for the stock remains positive at is a 4 for 5'er, however, RGLD is weak relative to its peers as it ranks 29th of 30 names in the precious metals sector matrix. From here, the next level of support sits at $184. RGLD is expected to report earnings on 11/5. |
