Comments include: APP, BK, KLAC, ORCL, SMTC, TDW, TECK, & VICI.
| APP AppLovin Corp. Class A ($682.12) - Software - APP moved higher Thursday to break a spread triple top at $680 before reaching $696 intraday. This stock has a 5 for 5 TA rating and sits in the top quintile of the software sector RS matrix. We also just saw the stock reverse back up into Xs against the market and its peers, highlighting improving near-term strength. Potential investors may consider adding here. However, it is worth noting APP has an RRisk score above 6, meaning it is highly volatile. Initial support is seen at $648 with further support offered at $536. |
| BK Bank of New York Mellon Corporation ($113.69) - Banks - BK shares moved higher today to break a double top at $114 to mark its fourth consecutive buy signal and reach a new all-time high. This 5 for 5'er has been in a positive trend since November 2023 and on an RS buy signal versus the market since September 2024. BK shares are trading in actionable territory with a weekly overbought/oversold reading of 41%. From here, support is offered at $106 and $104. |
| KLAC KLA Corp ($1,204.58) - Semiconductors - KLAC pushed higher Thursday to return to a buy signal at $1216. This stock has a 5 for 5 TA rating and sits in the top quartile of the favored semiconductors sector RS matrix. The stock has also been on an RS buy signal against the market since 2011, highlighting the long-term technical strength. The weight of the evidence is favorable here and continues to improve. Note that KLAC is at resistance from last month, with further resistance seen at the $1280 all-time high. Initial support sits at $1072. |
| ORCL Oracle Corporation ($214.72) - Software - ORCL advanced Thursday, breaking a double top at $212. This marks the second consecutive buy signal since the stock bounced off support at its positive trend line at the end of last month. The stock has a 3 for 5 TA rating, leaving it in neutral territory as it bounces from a washed out position. However, the consecutive buy signals are a positive sign toward the weight of the evidence in the near-term. Initial support is seen at $198 with further support at $190, the current location of the positive trend line. Note that earnings are expected on 12/10. |
| SMTC Semtech Corporation ($79.16) - Semiconductors - SMTC advanced Thursday to break a spread quadruple top at $76 before reaching $79 intraday. This stock has a 5 for 5 TA rating and sits in the top quartile of the favored semiconductors sector RS matrix. The technical picture is strong and continues to improve. Note that the stock is at resistance from the 52-week highs. Initial support is seen at $72 with further support seen at $69. |
| TDW Tidewater Inc ($59.20) - Oil Service - TDW returned to a buy signal Thursday when it broke a spread quadruple top at $60, where it now sits against resistance. Thursday's move adds to a moderately positive technical picture as TDW is a 3 for 5'er and ranks near the middle of the oil service sector matrix. From here, support can be found at $51. |
| TECK Teck Resources Limited ($44.93) - Oil Service - TECK returned to a buy signal Thursday when it broke a double top at $45. The outlook for the stock remains negative, however as TECK is an unfavorable 2 for 5'er. From here, the next level of overhead resistance sits at $48, while support can now be found at $38. |
| VICI VICI Properties Inc ($28.00) - Real Estate - Shares of VICI broke a double bottom at $28 to move to its first sell signal in years. Today’s move also saw the stock return to a negative trend, bringing it down to a weak 2 for 5’er. Those without exposure should look to sell on some consolidation or reversal higher with the stock trading at the bottom of its ten-week trading band. |
