Comments include: CNR, CSGP, CVS, ELV, GM, HCA, SYY, UAL, UNH, & YELP.
| CNR Core Natural Resources Inc. ($96.91) - Oil - CNR fell to a sell signal Tuesday when it broke a triple bottom at $95. Tuesday's move adds to an already unfavorable technical picture as CNR is a 2 for 5'er. From here, the next level of support is CNR's bullish support line at $92. |
| CSGP CoStar Group Inc. ($65.98) - Real Estate - CSGP rose Tuesday to break a double top at $69, ending its streak of seven consecutive sell signals. However, the 0 for 5'er continues to trade in a negative trend while lacking relative strength, keeping it in firm sell territory for now. From here, initial resistance lies at $70 then $79, with the bearish resistance line at $80. |
| CVS CVS Health Corp. ($72.58) - Retailing - CVS broke a triple bottom at $77 to return to a sell signal as shares fell down to $71. This move violates the bullish support line, moving the stock into a negative trend, and the market RS chart appears it will reverse into Os, dropping the stock down to a 1 for 5'er. Support for the stock now lies at $70, while additional can be found in the lower $60s. |
| ELV Elevance Health Inc. ($325.71) - Healthcare - ELV moved lower to complete a double bottom break at $336, marking an intraday low below $324. The 1 for 5'er shifted down from a 2 with its latest move after reversing back into a negative trend. A sell can be considered here given the weight of the evidence and the normalization of the 10-week trading band. Initial resistance is at $380, with additional resistance $400. |
| GM General Motors ($87.03) - Autos and Parts - GM broke a double top at $86 to return to a buy signal as shares rallied to $87, marking a new chart high. GM is a 5 for 5'er that ranks within the top decile of the Autos and Parts sector matrix. Okay to consider here on the breakout or on a pullback to the lower $80s. Initial support lies at $78, while additional can be found in the upper $60s. |
| HCA HCA Healthcare Inc. ($508.34) - Healthcare - HCA reversed back into Xs, completing a double top at $496, marking its fifth consecutive buy signal and a new all-time intraday high above $520. The 5 for 5'er ranks in the top quartile of the healthcare sector matrix rank. Long exposure can be made here. Initial strong support is at $464, with additional support at $448. |
| SYY Sysco Corporation ($83.00) - Food Beverages/Soap - Shares of SYY rocketed higher on the back of earnings, breaking a double top at $80 for its second consecutive buy signal. The stock returned to a positive trend earlier this month, but it's still in sell territory as a 2 for 5'er, so it's only a name to watch for now. From here, initial resistance lies close by at $83. |
| UAL United Airlines Holdings Inc. ($104.60) - Aerospace Airline - UAL broke a double bottom at $106 for a second buy signal since the stock's near-term peak of $118. The stock continues to maintain a 4 technical attribute rating and ranks within the top half of the Aerospace Airline sector matrix. From here, prior resistance around the $100 range may be seen as near-term support, while the bullish support line resides at $94. |
| UNH UnitedHealth Group Incorporated ($281.41) - Healthcare - UNH reversed back into Os, completing a bullish reversal at $324 and marking an intraday low below $284. The 0 for 5'er lost 2 points with its latest move after reversing back into Os against both the market and its peers. The weekly OBOS indicates that the stock is in oversold territory, so wait for the 10-week trading band to normalize before selling your position. Initial resistance can be seen at $356, with additional resistance at $380. |
| YELP Yelp Inc ($27.44) - Internet - YELP fell Tuesday to break a double bottom at $27, marking a third consecutive sell signal and a new multi-year low. This 0 for 5'er has shown consistent technical weakness and should be avoided. Further support may be seen at $26. Overhead resistance may be seen at $31. Note that earnings are expected on 2/12. |
