Comments include: CELH, COF, HUBS, MNDY, NEU, SKYW, & UAL.
| CELH Celsius Holdings, Inc. ($40.16) - Food Beverages/Soap - Shares of CELH broke a double bottom at $40 for its third consecutive sell signal. Celsius moved to a negative trend earlier this month and lost near-term relative strength, bringing it down to an unacceptable 2 for 5'er. Those with positions should look to eventually cut the name loose, but should wait for pullback or consolidation given its oversold positioning. |
| COF Capital One Financial Corporation ($200.77) - Finance - COF shares moved lower today to break a quadruple bottom at $200 to mark its first sell signal. This 5 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since December 2020. COF shares are trading below the mid-point of their ten-week trading band with a weekly overbought/oversold reading of -59%. From here, support is offered at $192. |
| HUBS Hubspot Inc ($368.64) - Software - HUBS fell Monday to break a double bottom at $376 before falling past further support to a new multi-year low at $372 intraday. This 0 for 5'er moved to a negative trend in June and sits in the bottom quartile of the unfavored software sector RS matrix. The weight of the technical evidence is weak and deteriorating. Initial overhead resistance may be seen at $400. Note that the stock is nearing oversold territory. |
| MNDY monday.com Ltd. ($150.66) - Software - MNDY fell Monday to complete a bearish triangle at $156 before falling to $152, matching support from earlier this month. This 0 for 5'er moved to a negative trend in July and has been on a sell signal against the market since August. The weight of the technical evidence is weak and deteriorating. The stock is at support from earlier this month, with overhead resistance seen at $164. |
| NEU NewMarket Corporation ($746.72) - Chemicals - After giving two consecutive buy signals, NEU fell to a sell signal Monday when it broke a triple bottom at $752. The outlook for the stock remains positive despite Monday's move as NEU is a 5 for 5'er and ranks sixth out of 44 names in the chemicals sector matrix. From here, the next level of support on NEU's chart sits at $736. However, beyond that level NEU's default chart shows no further support until $648. |
| SKYW Skywest Inc ($93.85) - Aerospace Airline - SKYW broke a double bottom at $96 to return to a sell signal as shares fell to $94. The move violates the bullish support line, which will drop the stock to a 2 for 5'er, as well as support in the mid-$90s that dated to October. SKYW now resides in the bottom quartile of the Aerospace Airline sector matrix and trades at its lowest chart level since June. Support lies at current prices, while additional can be found at $92 and $86. |
| UAL United Airlines Holdings Inc. ($89.90) - Aerospace Airline - UAL broke a double bottom at $93 to return to a sell signal as shares fell to $90. This violates the bullish support line, which will drop the stock to a 3 for 5'er, and places the market RS chart within one box of reversing down into Os. Shares now reside at their lowest level since August, and support can be found at $83 and $80. |
