Comments include: EAT, EQT, FDX, PAAS, RS, & WLK.
| EAT Brinker International Inc ($154.43) - Restaurants - EAT reversed into Os and broke a double bottom at $156 for a second sell signal as shares fell to $154. The stock still maintains a 3 technical attribute rating and ranks within the top quintile of the Restaurants sector matrix. Support lies at current chart levels, while additional lies in the mid to low $140s. |
| EQT EQT Corporation ($59.37) - Oil - EQT gave a second consecutive buy signal and returned to a positive trend Thursday when it broke a double top at $60. The positive trend change will promote the stock to an acceptable 3 for 5'er. From here, the next level of resistance sits at $62, EQT's all-time high. Meanwhile, support can be found at $56. |
| FDX FedEx Corporation ($383.14) - Aerospace Airline - FDX continues to trend higher, returning to all time chart highs with action on the 19th. It is now well into heavily overbought territory, so we should be waiting for a bit of normalization to add to positions. Pullbacks to newly established support at $368 aren't out of the question from here, but tread lightly as past that support isn't found until the low $300's. Regardless, the path of least resistance is higher, we are now more concerned about finding the "right" price. |
| PAAS Pan American Silver Corp ($61.33) - Precious Metals - PAAS returned to a buy signal Thursday when it broke a double top at $59 and continued higher to $61, where it now sits against resistance. Thursday's move adds to an already positive technical picture as PAAS is a 4 for 5'er that ranks in the top half of the precious metals sector matrix. |
| RS Reliance Inc. ($324.78) - Steel/Iron - RS fell to a sell signal Thursday when it broke a double bottom at $320. The outlook for the stock remains modestly favorable as RS is a 3 for 5'er. However, from here, the stock shows no further support on its default chart until $288, more than 10% away from Thursday's close. |
| WLK Westlake Corp. ($95.27) - Chemicals - WLK fell to a sell signal Thursday when it broke a triple bottom $96. The outlook for the stock remains modestly positive as WLK is a 3 for 5'er that ranks 12th of 45 names in the chemicals sector matrix. From here, the next level of support sits at $91. |
