Analyst Observations | Nasdaq Dorsey Wright

Comments include: CVE, DELL, EAT, & WTS.

CVE Cenovus Energy Inc. ($16.50) - Oil - CVE gave an initial sell signal Thursday when it broke a double bottom at $16.50. The outlook for the stock remains modestly positive however, as CVE is a 3 for 5'er that ranks in the top quintile of the oil sector matrix. From here, CVE shows no additional support until $13.50.

DELL Dell Technologies Inc Class C ($123.27) - Computers - DELL fell Thursday to break a double bottom at $126 before falling to $124 intraday. This stock still maintains a 3 for 5 TA rating, but has shown notable technical deterioration. Further support can be seen at $118 and $116, which is also the current location of the positive trend line. Overhead resistance may be seen initially at $142.

EAT Brinker International Inc ($152.17) - Restaurants - EAT reversed into Xs and broke a double top at $152 to complete a bullish catapult as shares rallied to $154. The move penetrates the bearish resistance line after having been in a negative trend since September, which will increase the stock up to a 3 for 5'er. Along with the positive trend on the point and figure chart, EAT has maintained near-term relative strength against the market and its peer group since November. From here, note resistance at current prices along with in the upper $150s and at $170. Initial support lies at $144, while additional can be found at $136.

WTS Watts Industries, Inc. ($280.60) - Machinery and Tools - WTS pushed higher today, posting a second consecutive buy signal in the process. The strong 5/5'er now faces resistance at all-time highs established early in October. Look for the breakout from there as an action point, which you can set an alert for using the bell icon on the chart page. Support is offered between $260-$268.

REPORT

DATE