Analyst Observations | Nasdaq Dorsey Wright

Comments include: ALGT, CCJ, & IMO.

ALGT Allegiant Travel Company ($78.40) - Aerospace Airline - ALGT reversed into Xs and broke a double top at $79 for a second buy signal and to mark the highest chart level since February. The stock has improved to a 4 for 5'er after shifting back into a positive trend during last week's trading. Okay to consider here on the breakout. Initial support lies at $74, while the bullish support line lies at $64.

CCJ Cameco Corporation ($88.23) - Metals Non Ferrous - CCJ returned to a buy signal Tuesday when it broke a double top at $90. The outlook for the stock remains negative, however, as CCJ is a 2 for 5'er that ranks in the middle of the non ferrous metals sector matrix. From here, the first level of support sits at $78.

IMO Imperial Oil Limited ($94.94) - Oil - IMO broke a double bottom at $95, setting up a potential shakeout pattern on its chart. The stock would enter the action phase of the potential shakeout with a reversal into Xs and completed the pattern with a triple top break at $102. IMO is a 5 for 5'er and ranks seventh of 51 names in the oil sector matrix.

REPORT

DATE