Comments include: ADBE, AFL, BABA, CCEP, ON, TTWO, TXRH, WPM, & YELP.
| ADBE Adobe Systems Incorporated ($324.54) - Software - ADBE dropped Friday to give a sell signal at $324. This also moved the stock back to a negative trend and demoted the stock to a 0 for 5'er. The technical picture is weak; long exposure should be avoided. Further support may be seen at the current level from 2023. Overhead resistance is seen at $360. |
| AFL AFLAC Incorporated ($114.24) - Insurance - AFL shares moved higher today to break a spread triple top at $114 and are now one box away from making a new all-time high. This 4 for 5'er has been in a positive trend since August 2022 and on an RS buy signal versus the market since October 2022. AFL shares are trading above the middle of their ten-week trading band with a weekly overbought/oversold reading of 55%. From here, support is offered at $106. |
| BABA Alibaba Group Holding Ltd (China) ADR ($165.65) - Retailing - BABA broke a triple bottom at $162 to return to a sell signal. The stock maintains a 5 TA rating and ranks within the top decile of the Retailing sector matrix. From here, support lies a current chart levels, while additional can be found in the $158 to $160 range. |
| CCEP Coca-Cola Europacific Partners PLC ($90.96) - Food Beverages/Soap - Shares of CCEP broke a double top at $91 to move back to a buy signal, in addition to flipping its trend back to positive just a month after moving to a negative trend. The now 4 for 5’er is back in buy territory and the stock is actionable at current levels. From here, resistance lies at $93 and $95. |
| ON On Semiconductor Corp. ($47.08) - Semiconductors - ON fell Friday to break a double bottom at $47. This marks the second consecutive sell signal for the 1 for 5'er that moved to a negative trend earlier this month. Long exposure should be avoided. Further support can be seen at $46. |
| TTWO Take-Two Interactive Software, Inc. ($231.88) - Leisure - TTWO broke a double bottom at $236 to return to a sell signal as shares fell to $228, violating the bullish support line. This will drop the stock down to a 3 for 5'er trading in a negative trend. From here, support lies at $220, while additional can be found at $212 and $204. |
| TXRH Texas Roadhouse, Inc. ($163.90) - Restaurants - TXRH broke a double bottom at $158 to return to a sell signal as shares fell to $156, violating support at $158 that dated to April of this year. The move also violates the bullish support line, which will drop the stock down to a 3 for 5'er. From here, support lies at $150, the April chart low. |
| WPM Wheaton Precious Metals Corp ($98.36) - Precious Metals - WPM returned to a buy signal Friday when it broke a double top at $99, where it now sits against resistance. Friday's move adds to an already positive technical picture as WPM is a 4 for 5'er and has been on a market RS buy signal for more than a year. From here, the first level of support sits at $93. |
| YELP Yelp Inc ($28.81) - Internet - YELP fell Friday to complete a bearish catapult at $29. This 0 for 5'er moved to a negative trend in August and sits in the bottom half of the internet sector RS matrix. The technical picture is weak and deteriorating. Further support can be seen at $27 and $26. |
