ALK, ARM, C, CRM, FANG, GE, MSFT, RDDT, SUN, UNH, & UTHR.
| ALK Alaska Air Group Inc ($39.18) - Aerospace Airline - ALK broke a double bottom at $39 for a fourth sell signal since September and to mark a new 52-week low. The stock has fallen down to a 0 for 5'er and ranks within the bottom decile of the Aerospace Airline sector matrix. The lows for 2024 and 2023 sits in the $31 to $33 range. Avoid long exposure for now. |
| ARM ARM Holdings PLC ADR ($137.03) - Semiconductors - ARM moved lower Tuesday to break a double bottom at $134, marking a third consecutive sell signal. This 1 for 5'er moved to a negative trend last week and saw weekly momentum recently flip negative, suggesting the potential for further downside from here. The weight of the technical evidence is weak and declining. Further support can be seen at $132 and $128 from August and September. Overhead resistance may be seen initially at $142. |
| C Citigroup, Inc. ($99.31) - Banks - C shares moved lower today to break a double bottom at $97 to mark its first sell signal. This 5 for 5'er has been in a positive trend since May and on an RS buy signal versus the market since January. C shares are trading near the middle of their ten-week trading band with a weekly overbought/oversold reading of -12%. From here, support is offered at $95. |
| CRM Salesforce Inc. ($233.50) - Software - CRM declined Tuesday to break a spread sextuple bottom at $232. This marks the second consecutive sell signal for the 0 for 5'er that moved to a negative trend earlier this month. The weight of the technical evidence is weak and deteriorating. Long exposure should be avoided until upside momentum is seen. Further support is seen at $228, which is the 52-week low from August. Overhead resistance may be seen at $248. Note that earnings are expected on 12/3. |
| FANG Diamondback Energy Inc ($149.58) - Oil - FANG returned to a buy signal and a positive trend Tuesday when it broke a double top at $150. The positive trend change will promote FANG to a still unfavorable 2 for 5'er. From here, the next level of overhead resistance sits at $152. |
| GE GE Aerospace ($297.18) - Aerospace Airline - Shares of GE broke a double bottom at $296, ending its streak of six consecutive buy signals. However, the 5 for 5’er continues to look favorable given its positive trend and relative strength. Additionally, support lies closely at $296 to $292 with further support starting back up at $264. |
| MSFT Microsoft Corporation ($493.79) - Software - MSFT moved lower Tuesday to break a double bottom at $488. This sets up a potential shakeout pattern for the 5 for 5'er that still sits in the top third of the software sector RS matrix. The buy point on this pattern would occur with a potential reversal back up into a column of Xs at $512. |
| RDDT Reddit, Inc. Class A ($185.54) - Internet - RDDT fell Tuesday to break a double bottom at $182. This 2 for 5'er moved to a negative trend earlier this month and sits in the bottom third of the unfavored internet sector RS matrix. The technical picture is weak and deteriorating. Further support may be seen at $174. Overhead resistance may be seen initially at $194. |
| SUN Sunoco L.P. ($54.37) - Oil Service - SUN returned to a buy signal and a positive trend Tuesday when it broke a double top at $55, where it now sits against resistance. The positive trend change will elevate SN to a still unfavorable 1 for 5'er. From here, support sits at $50. |
| UNH UnitedHealth Group Incorporated ($313.08) - Healthcare - UNH inched lower to complete a double bottom break at $312, marking its second consecutive sell signal. Since bouncing back off of its multi-year low below $236, the stock has shown some improvement but still maintains a weak technical attribute score of 2/5 with a deteriorating technical picture. A sell can be made here given the weight of the technical evidence. Initial resistance can be seen at $340, with additional resistance at $380. |
| UTHR United Therapeutics Corporation ($477.57) - Biomedics/Genetics - UTHR inched higher to complete a double top break at $480, marking its seventh consecutive buy signal and a new all-time higher. The 5 for 5'er shifted up from a 3 in September after reversing back into Xs against both the market and its peers. Additionally, the stock ranks in the top half of the biomedics/genetics sector matrix. Long exposure can be made here. Initial support is at $432, with additional strong support at $416. |
