Comments include: CVNA, META, RBLX, SFM, UAL, & URBN
| CVNA Carvana Company ($304.53) - Autos and Parts - CVNA broke a double bottom at $308 to return to a sell signal as shares fell to $304. The stock has fallen to a 3 for 5'er following a reversal into Os on the market RS chart during last week's trading. From here, support lies at the bullish support line at $296, while additional can be found at $284. |
| META Meta Platform Inc. ($667.93) - Internet - META slipped over 11% on the day, following a negative earnings reaction. Despite this, the stock remains a 5/5'er (though it does sit rather close to a reversal back into O's against the market). Bears will point to the break of a range of support between $680 and $696... which is quite negative... while bulls will point to staying power of the TA score. All in all, we now sit near heavily oversold territory, so even those looking to exit positions should wait for a bounce. Based purely on the technical, the stock remains a leader. |
| RBLX Roblox Corp. Class A ($112.08) - Leisure - RBLX broke a double bottom at $124 to complete a bearish triangle for a second sell signal as shares fell to $112, violating multiple levels of support and testing the August chart low. While RBLX maintains a 4 techncial attribute, the peer RS chart resides within one box of reversing into Os, leaving the potential for an attribute loss. Beyond current support additional may be found at $100 and in the mid to lower $90s. |
| SFM Sprouts Farmers Market, LLC ($76.28) - Retailing - Shares of SFM plummeted Thursday for its fourth consecutive sell signal. The 1 for 5’er moved to a negative trend at the start of the month. Those with exposure should sell eventually but should wait for normalization or reversal higher given its extremely oversold position. From here, support lies at $75 and $65. |
| UAL United Airlines Holdings Inc. ($93.72) - Aerospace Airline - UAL broke a double bottom at $93 for a third sell signal and to test the stock's October chart low along with the bullish support line. The stock still maintains a 5 technical attribute rating, but a move below $92 would shift the trend to negative and drop the stock to a 4 for 5'er. Beyond current support, additional can be found at $83 and $80. |
| URBN Urban Outfitters, Inc. ($65.67) - Retailing - URBN broke a triple bottom at $65 for a second sell signal and to violate support that dates to June of this year. The stock has fallen to a 2 for 5'er and ranks within the bottom third of the Retailing sector matrix. From here, support now lies at $60 and $50 on the default point and figure chart. |
