Comments includes: ADC, AZO, CE, CEG, CVI, DE, GEV, PII, & TWLO.
| ADC Agree Realty Corporation ($71.26) - Real Estate - Shares of ADC moved lower, breaking a double bottom at $71 to move back to a sell signal. Today's move also saw the stock move back to negative trend once again, moving the stock down to a 2 for 5'er. Those with positions could look to sell here. Initial support for the stock lies from $70 to $68. |
| AZO Autozone, Inc. ($3,427.35) - Autos and Parts - AZO broke a double bottom at $3456 for a second sell signal since peaking at $4352 on the chart in September as shares fell to $3392, violating support that dated back to April. Prior to this break, the market RS chart reversed into Os causing the stock to drop to a 2 for 5'er. The stock now also ranks within the bottom half of the Autos and Parts sector matrix. From here, support now lies at $3168. |
| CE Celanese Corporation ($43.22) - Chemicals - After giving three consecutive sell signals, CE returned to a buy signal Wednesday when it broke a double top at $43. The outlook for the stock remains negative however, as CE is a 0 for 5'er that has been on a market RS sell signal for more than five years. From here, support can be found at $36. |
| CEG Constellation Energy Corporation ($361.33) - Utilities/Electricity - CEG broke a double bottom at $352 to return to a sell signal as shares fell to $348, violating the bullish support line. The trend change will cause the stock to fall to a 3 for 5'er with the stock maintaining positive near and long-term market RS and near-term peer RS. Note multiple levels of support lie in the $316 to $340 range. |
| CVI CVR Energy, Inc. ($31.83) - Oil Service - CVI gave an initial sell signal Wednesday when it broke a double bottom at $32. The outlook for the stock remains positive as CVI is a 4 for 5'er that ranks in the top half of the oil sector matrix. From here, the next level of support sits at $30. |
| DE Deere & Company ($468.66) - Machinery and Tools - Follow up from last comment. Today, DE returned to a negative trend and will return to a 0/5'er. Continue to avoid the name as there are several levels of resistance above current levels. While we are still positive for the year, the weight of the evidence remains negative and there are several other strong options within the sector. CAT, CMI, ROK are all in the sector and have more favorable pictures. |
| GEV GE Vernova Inc. ($729.44) - Utilities/Electricity - GEV broke a double top at $648 for a second buy signal as shares rallied to $728, a new all-time chart high. The stock will improve to a 5 for 5'er with the peer RS chart reversing back into a column of Xs. This action puts the trend chart in overbought territory, so those seeking exposure are best to look for consolidation near current prices and normalization of the 10-week trading band before considering. Support on the default point and figure chart currently lies in the $552 to $560 range. |
| PII Polaris Inc. ($70.27) - Leisure - PII broke a double top at $69 to complete a bullish catapult as shares rallied above $70. The breakout penetrates the bearish resistance line and shifts the trend back to positive, which will increase the stock to a 4 for 5'er. The stock also ranks within the top quintile of the Leisure sector matrix and maintains a yield north of 4%. Okay to consider here on the breakout. Note resistance at $75, the October rally high. Initial support lies in the $64 to $65 range, while additional can be found at $60. |
| TWLO Twilio Inc ($134.80) - Internet - TWLO moved higher Wednesday to break a double top at $134, marking a second consecutive buy signal. This 4 for 5 TA stock moved back to a positive trend in October and sits in the top third of the internet sector RS matrix. The weight of the technical evidence is favorable and improving. Initial support is seen at $124 and $116, the current location of the positive trend line. Overhead resistance may be seen at $138 from October. |
