Analyst Observations | Nasdaq Dorsey Wright

Comments include: BBY, PBF, STX, & SXT.

BBY Best Buy Co., Inc. ($72.56) - Retailing - BBY broke a double bottom to return to a sell signal as well as violate the bullish support line. With the trend change, BBY will drop to a 2 for 5'er and place the market and peer RS charts within one box of reversing down into Os. Support now lies at $71 on the default trend chart, while additional may be found in the $63 to $64 range.

PBF PBF Energy Inc. ($31.96) - Oil Service - PBF fell to a sell signal Monday when it broke a double bottom at $32. The outlook for the stock remains favorable, however, as PBF is a 4 for 5'er and ranks in the top quintile of the oil service sector matrix. From here, the next level of support sits at $28.

STX Seagate Technology ($285.04) - Computers - STX pushed higher Monday to break a double top at $280, notching a second consecutive buy signal. This 5 for 5'er moved to a positive trend in April and sits near the top of the computers sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support can be seen at $252 with additional support offered at $232. Overhead resistance may be seen at $296.

SXT Sensient Technologies Corporation ($90.10) - Chemicals - SXT fell to a sell signal and a negative trend Monday when it broke a triple bottom at $91. The stock continued lower to $90 where it now sits against support. The negative trend change will drop SXT further into unfavorable territory with a 1 for 5 technical attribute rating.

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