Comments include: BOOT, CAH, LRCX, SPHR, SSRM, & TRGP.
| BOOT Boot Barn Holdings Inc ($188.00) - Retailing - BOOT broke a spread triple bottom at $182 for a second sell signal since peaking at $204 in October. The stock maintains a 5 TA rating and continues to ranks within the top third of the Retailing sector matrix. From here support now lies in the lower $160s on the default point and figure chart, |
| CAH Cardinal Health, Inc. ($197.24) - Drugs - CAH inched higher to complete a double top break at $198 and reached a new intraday all-time high above $200, marking its fourth consecutive buy signal. The 5 for 5'er shifted up from a 4 last month after moving back into a positive trend. The weekly OBOS indicates that the stock is in overbought, so wait for the 10-week trading band to normalize before considering. Initial support is at $190, with additional strong support at $152. |
| LRCX Lam Research Corporation ($166.39) - Semiconductors - LRCX advanced Wednesday to break a double top at $166, notching a second consecutive buy signal and new all-time high. This 5 for 5'er moved to a positive trend in May and has been on an RS buy signal against the market since 2023. The stock also sits in the top decile of the favored semiconductors sector RS matrix. The weight of the technical evidence is favorable and improving. However, LRCX is in a heavily overbought position. Initial support can be seen at $156 with further support offered at $138. |
| SPHR Sphere Entertainment Co. ($73.42) - Leisure - SPHR broke a double top at $70 for a eighth buy signal since May as shares rallied to a new chart high at $74. The stock is a 5 for 5'er that ranks 1st (out of 58) in the Leisures sector matrix. Okay to consider on a pullback in the $65 to $70 range. Initial support lies in the $63 to $64 range, while additional can be found in the upper $50s. |
| SSRM SSR Mining Inc. ($19.53) - Precious Metals - SSRM was down more than 10% on Wednesday and gave an initial sell signal when it broke a double bottom at $21. The outlook for SSRM remains positive as it is a 5 for 5'er that ranks in the top decile of the precious metals sector matrix. However, it is worth noting that from here, SSRM shows no additional support on its P&F chart until $9. |
| TRGP Targa Resources Corp. ($163.58) - Oil Service - TRGP was up more than 5% following its earnings release on Wednesday and returned to a buy signal and a positive trend. The positive trend change will promote TRGP to an acceptable 3 for 5'er. From here, the next level of overhead resistance sits at $168, while support can now be found at $150. |
