Comments include: AEM, BHP, CHRD, DQ, FIVE, NFLX, PSX, TSLA, & VLO.
| AEM Agnico-Eagle Mines Ltd. ($158.60) - Precious Metals - AEM fell to a sell signal Thursday when it broke a double bottom at $160. AEM maintains a favorable 4 for 5'er technical attribute rating. From here, the next level of support sits at $156. |
| BHP BHP Group Ltd. ($52.58) - Metals Non Ferrous - BHP returned to a sell signal Thursday when it completed a bullish signal reversal at $53. The move adds to an already weak technical picture as BHP is a 1 for 5'er and ranks in the bottom quartile of the non ferrous metals sector matrix. From here, the next level of support sits at $52. |
| CHRD Chord Energy Corp. ($90.62) - Oil - CHRD returned to a buy signal Thursday when it broke a double top at $94, where it now sits against resistance. The outlook the stock remains unfavorable as CHRD is a 0 for 5'er that ranks 49th of 52 names in the oil sector matrix. |
| DQ Daqo New Energy Corp. ($28.51) - Chemicals - DQ fell to a sell signal Thursday when it broke a double bottom at $30. The outlook for the stock remains positive as it is a 5 for 5'er that ranks third of 44 names in the chemicals sector matrix. From here, the next level of support on DQ's chart sits at $25. |
| FIVE Five Below Inc ($152.01) - Retailing - FIVE broke a double top at $156 to return to a buy signal. The stock is a 5 fro 5'er that ranks within the top quintile of the Retailing sector matrix. OKay to consider here on the breakout. Note the stock's October rally high at $168. Initial support lies at $144, while additional may be found at $138. |
| NFLX NetFlix Inc. ($105.67) - Media - NFLX posted its fourth consecutive sell signal today. Our previous comment mentioned an unattractive risk/reward profile. While the technical picture has certainly worsened since that comment, the stock maintains a high TA score and the risk/reward picture is a bit more compelling here... assuming buyers will look to defend old resistance around the bottom of the trading band ($100). With that assumption, you're taking on 6 points of risk for 10-20 points of reward on a bounce back up to the middle of the trading band or subsequent layer of resistance in the mid-$120's. Regardless of your next steps, keep a watchful eye over the name. |
| PSX Phillips 66 ($132.48) - Oil Service - PSX fell to a sell signal Thursday Thursday when it broke a double bottom at $132. The technical picture for PSX remains marginally positive despite Thursday's move as the stock is a 3 for 5'er that ranks in the top half of the oil service sector matrix. From here, the next level of support sits at $128. |
| TSLA Tesla Inc. ($402.28) - Autos and Parts - TSLA reversed into Xs and broke a double top at $424 to return to a buy signal. The stock is a 5 for 5'er that ranks within the top decile of the Autos and Parts sector matrix. Okay to consider here on the breakout. Note the all-time chart high at $472. Initial support now lies at $396, while additional can be found at $388, the bullish support line, and $384. |
| VLO Valero Energy Corp ($170.82) - Oil Service - VLO gave an initial sell signal Thursday with a double bottom break at $174. The outlook for the stock remains positive, however, as VLO is a 4 for 5'er and ranks in the top third of the oil service sector matrix. From here, the next level of support sits at $166. |
