Comments include: AAL, AMR, APO, BOOT, CENX, ELF, GSAT, R, & TSM
| AAL American Airlines Group Inc. ($14.54) - Aerospace Airline - AAL broke a triple top at $14.50 for a fourth buy signal since May and to penetrate the bearish resistance line. Along with a recent reversal into Xs on the peer RS chart, the positive trend shift on the trend chart has increased the stock up to a 3 for 5'er. Okay to consider here on the breakout. Note the multi-year high at $19, last reached in January. Initial support lies at $12.50, while additional may be found in the $11 range. |
| AMR Alpha Metallurgical Resources Inc. ($181.75) - Oil - AMR was up more than 12% on Wednesday and returned to a buy signal and a positive trend when it broke a quadruple top at $166. The positive trend change will promote AMR to an acceptable 3 for 5'er. From here, the next level of resistance is AMR's all-time high at $186. |
| APO Apollo Global Management Inc. ($135.47) - Wall Street - APO shares moved higher today to break a double top at $134 to mark its first buy signal and enter a positive trend. This 3 for 5'er has been on an RS buy signal versus the market since August 2019. APO shares are trading in normalized territory with a weekly overbought/oversold reading of 8%. From here, support is offered at $126. |
| BOOT Boot Barn Holdings Inc ($199.83) - Retailing - BOOT broke a double top at $200 for a second buy signal and to bring shares within one box of the stock's October chart high. The stock is a 5 for 5'er that ranks within the top quartile of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to the mid $190s. Initial support lies at $192, while the bullish support line resides at $174. |
| CENX Century Aluminum Co ($31.04) - Metals Non Ferrous - After giving two consecutive sell signals, CENX returned to a buy signa Wednesday with a double top break at $31. The move adds to an already positive technical picture as CENX is a 4 for 5'er that ranks in the top half of the non-ferrous metals sector matrix. From here, the next level of overhead resistance sits at $33. |
| ELF Elf Beauty Inc ($80.12) - Household Goods - Shares of ELF broke a double top for its second consecutive buy signal. However, the stock has deteriorated significantly over the last several weeks, so much of its recent uptick is a rebound from extremely oversold conditions. As a 0 for 5’er, the stocks is one to sell once it returns to normalized territory. Those without exposure should avoid ELF until it sees a significant increase in strength. |
| GSAT Globalstar Inc. ($64.50) - Telephone - Very high octane name- keep this in mind when considering GSAT. It ranks second of 49 within the telephone sector matrix, earning a perfect 5/5 TA score as it sits up nearly 100% this year. Despite the large move this year, it isn't overbought around current levels as it sits just one box shy of 2025 highs at $65. Support is offered at $59 and $54. |
| R Ryder System, Inc. ($178.35) - Transports/Non Air - First real test for shares of R here after moving back into a negative trend in October. The stock remains a technically acceptable option as it scores 4 of 5 technical attribute points, but the negative trend break is still fresh. It could ultimately be a headfake, in which case interested parties should set an alert for $182 as a possible buy. On the other hand, those with exposure should watch reversals into O's at $172 which would help confirm that the negative trend should stay in place for a bit longer. |
| TSM Taiwan Semiconductor Manufacturing Co. (Taiwan) ADR ($295.43) - Semiconductors - TSM pushed higher Wednesday to complete a bearish signal reversal with a double top at $296, ending a streak of consecutive sell signals. This 5 for 5'er moved to a positive trend in May and has maintained an RS buy signal against the market since mid-2024. TSM also sits in the top half of the semiconductors sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $268 with further support not seen until $228. |
