Comments include: ALB, BOOT, EBAY, IDR, & PPTA.
| ALB Albemarle Corp ($144.80) - Chemicals - ALB gave an initial sell signal Monday when it broke a double bottom at $142. The outlook for the stock remains decidedly favorable, however, as ALB is a 5 for 5'er that ranks first out of 44 names in the chemicals sector matrix. From here, the stock shows no further support on its default chart until $118. |
| BOOT Boot Barn Holdings Inc ($179.39) - Retailing - BOOT reversed into Os and broke a double bottom at $182 for a third sell signal as shares fell to $178. The move also violates the bullish support line, which will drop the stock down to a 4 for 5'er trading in a negative trend. BOOT continues to maintain positive near and long-term relative strength against the market and peer group, while continuing to rank within the top half of the Retailing sector matrix. From here, support lies at $170, while additional can be found in the $162 to $164 range. |
| EBAY eBay Inc. ($87.46) - Retailing - Nice hold of the trendline for EBAY with the return to a PnF buy signal at $86.. The stock remains a technically acceptable 3/5'er at the time of this writing. Offensive minded players should take todays action as a sign of strength, looking towards the top of the trading band and all time highs at $100 as a possible price target. More defensive participants should wait and see until the name gets above $90, a point of stuff support from earlier this year. A rejection of this point would be a near-term negative. |
| IDR Idaho Strategic Resources Inc ($43.69) - Precious Metals - IDR fell to a sell signal Monday when it broke a double bottom at $44 amid a broad sell-off in precious metals. The outlook for the stock remains favorable as IDR is a 4 for 5'er that ranks fifth out of 30 names in the favored precious metals sector matrix. From here, the next level of support on IDR's chart sits at $42. |
| PPTA Perpetua Resources Corp. ($25.02) - Precious Metals - PPTA fell to a sell signal Monday when it broke a double bottom at $25 amid a sector wide sell-off. The technical picture remains modestly positive as PPTA is a 3 for 5'er. From here, the next level of support can be found at $21, where PPTA's bullish support line also currently sits. |
