Comments include: AMR, DD, ES, ETSY, HOOD, IBM, INTC, PSTG, STX, & WLK.
| AMR Alpha Metallurgical Resources Inc. ($165.34) - Oil - AMR returned to a buy signal and a positive trend Friday when it broke a double top at $164. The positive trend change will promote AMR to an acceptable 3 for 5'er and it ranks in the top quintile of the favored oil sector matrix. AMR now finds support at $150, while overhead resistance can be found at multiple levels in the $170s. |
| DD DuPont de Nemours Inc. ($81.15) - Chemicals - DD returned to a buy signal and a positive trend Friday when it broke a double top at $82. The positive trend change will promote DD to an acceptable 3 for 5'er and the stock ranks in the top third of the chemicals sector matrix. From here, the first level of support sits at $74, while the next level of overhead resistance can be found at $85. |
| ES Eversource Energy ($74.77) - Utilities/Electricity - ES broke a double top at $75 for a fourth buy signal since August and mark a new 52-week high. The stock is a 3 for 5'er that maintains positive near-term market RS and long-term peer RS. Okay to consider on a pullback to the lower 70s. Initial support lie at $71, while the bullish support line lies at $67. |
| ETSY Etsy Inc ($74.30) - Retailing - ETSY broke a double top at $75 for a second buy signal. The stock is a 4 for 5'er that ranks within the top quartile of the Retailing sector matrix. Okay to consider here on the breakout. Initial support lies at $70 and $68, while the bullish support line lies at $65. |
| HOOD Robinhood Markets, Inc. Class A ($139.75) - Wall Street - HOOD shares moved higher today to break a double top at $142 to mark its first buy signal. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February 2024. HOOD shares are trading in actionable territory with a weekly overbought/oversold reading of 31%. From here, support is offered at $122. |
| IBM International Business Machines Corp. ($306.40) - Computers - IBM moved higher to break a double top at $292 before reaching a new all-time high at $308. This 3 for 5'er has maintained a positive trend since July and has been on an RS buy signal against the market since early 2024. While the technical picture is improving, IBM is heavily overbought. Initial support can be seen at $264. |
| INTC Intel Corporation ($38.36) - Semiconductors - INTC advanced Friday to break a fourth consecutive buy signal while ascending to $41. This 5 for 5'er moved to a positive trend in August and sits at the top of the semiconductors sector RS matrix. The technical picture is robust. INTC is in an extended position, suggesting those looking to add exposure may be best served easing into positions. Initial support can be seen at $35. |
| PSTG Pure Storage ($94.60) - Computers - PSTG moved higher Friday to break a double top at $95 before reaching a new all-time high at $96. This 5 for 5'er moved to a positive trend in July and sits in the top decile of the favored computers sector RS matrix. The weight of the technical evidence is sound and improving. However, PSTG is entering overbought territory. Initial support can be seen at $87 and $86. |
| STX Seagate Technology ($234.20) - Computers - STX moved higher Friday to break a double top at $236 before reaching $240 intraday. This 5 for 5'er moved to a positive trend in April and sits in the top quartile of the favored computers sector RS matrix. Exposure may be considered on this breakout. Initial support is seen at $212. Note that earnings are expected on 10/28. |
| WLK Westlake Corp. ($79.14) - Chemicals - WLK returned to a buy signal Friday when it broke a double top at $80. The outlook for the stock remains negative, however, as it is a 0 for 5'er that ranks in the bottom third of the chemicals sector matrix. From here, the next level of overhead resistance sits at $83, while support can be found at $75. |
