Comments include: CVNA, GD, GEV, MAR, SHEL, & VSAT.
| CVNA Carvana Company ($407.66) - Autos and Parts - CVNA reversed into Os and broke a double bottom at $424 as shares fell to $376, returning the stock to a sell signal and violating additional levels of support. While the stock will still maintain a 5 TA rating, the market and peer RS charts will now reside within one box of reversing into Os. From here, support now lies at $348, the bullish support line. |
| GD General Dynamics Corporation ($356.42) - Aerospace Airline - GD slipped on their most recent earnings call as investors were largely disappointed by bottom line forecasts. The 3/5'er is still up 5%+ so far this year and the move brings it back down to a range of support.... so the technical picture is far from "weak" as we wrap up January. From here, the reversal lower identifies some now resistance at $368. |
| GEV GE Vernova Inc. ($712.45) - Utilities/Electricity - GEV broke a quadruple top at $704 to return to a buy signal as shares rallied to $720. The stock is a 5 for 5'er that ranks within the top quintile of the Electric Utilities sector matrix. Okay to consider here on the breakout or on a pullback to the upper $600 range. Initial support lies at $648, while additional can be found in the $608 to $624 range on the default chart. |
| MAR Marriott International, Inc. ($312.00) - Leisure - MAR broke a double bottom at $312 to initiate a shakeout pattern. The stock is a 5 for 5'er that ranks within the top half of the Leisure sector matrix. The action point for the shakeout pattern occurs with the reversal back into Xs, currently at $324, while the pattern would be complete upon the triple top break at $332. Initial support lies at $248, while the bullish support line sits at $280. |
| SHEL Shell PLC Sponsored ADR ($75.77) - Oil - SHEL returned to a buy signal Wednesday when it broke a double top at $76. The move adds to an already positive technical picture as SHEL is a 4 for 5'er that ranks in the top half of the oil sector matrix. From here, the next level of resistance sits at $77. Meanwhile, support can be found at $69. SHEL is expected to report earnings on 2/5. |
| VSAT Viasat Inc ($46.89) - Telephone - VSAT moved higher Wednesday to break a double top at $47 before reaching a hew multi-year high at $48 intraday. This marks the fourth consecutive buy signal for this 5 for 5 TA stock that has been in a positive trend since last June. The long-term technical picture remains strong and the near-term picture has shown consistent improvement. However, VSAT is nearing overbought territory. Initial support is seen at $41 with further support at $38. Note that earnings are expected on 2/5. |
