Comments include: AXP, CG, COF, GAP, JPM, KR, MS, VRTX, & WFC.
| AXP American Express Company ($300.94) - Finance - AXP shares moved lower today to break a double bottom at $296 to mark its fifth consecutive sell signal and enter a negative trend. This 4 for 5'er has been on an RS buy signal versus the market since February 2022. AXP shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -111%. From here, support is offered at $292, $288, and $284. |
| CG The Carlyle Group LP ($49.40) - Wall Street - CG shares moved lower today to break a double bottom at $49 to mark its third consecutive sell signal. This 2 for 5'er has been in a negative trend since February but on an RS buy signal versus the market since December 2023. CG shares are trading in heavily oversold territory near the bottom of their ten-week trading band. From here, support is offered at $49. |
| COF Capital One Financial Corporation ($187.51) - Finance - COF shares moved lower today to complete a bearish triangle at $188 to mark its second consecutive sell signal. This 3 for 5'er has been in a negative trend since February but on an RS buy signal versus the market since December 2020. COF shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -92%. From here, support is offered at $184. |
| GAP The Gap, Inc. ($23.44) - Retailing - GAP broke a double bottom at $25 as shares fell to $24, violating the bullish support line. This will shift the trend to negative and drop the stock down to a 3 for 5'er while also placing the market RS chart within one box of reversing down into Os. Support now lies at $20, while additional can be found at 19 and $18. |
| JPM J.P. Morgan Chase & Co. ($288.85) - Banks - JPM shares moved lower today to break a double bottom at $288 to mark its second consecutive sell signal and complete a bearish catapult. This 5 for 5'er has been in a positive trend since November 2023 and on an RS buy signal versus the market since March 2024. JPM shares are trading near the bottom of their ten-week trading band with a weekly overbought/oversold reading of -52%. From here, support is offered at $284. |
| KR The Kroger Co. ($74.63) - Retailing - KR broke a double top at $73 to return to a buy signal as shares rallied to $74, mathcing the stock's all-time chart high. The stock is a 4 for 5'er that ranks within the top third of the Retailing sector matrix and is accompanied by a yield north of 2%. Okay to consider in the lower $70s. Initial support lies at $67, while the bullish support line sits at $65. |
| MS Morgan Stanley ($159.84) - Wall Street - MS shares moved lower to mark their fifth consecutive sell signal and enter a negative trend. This 4 for 5'er has been on an RS buy signal versus the market since June 2013. MS shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -70%. From here, support is offered at $156 and $152. |
| VRTX Vertex Pharmaceuticals Incorporated ($453.53) - Biomedics/Genetics - VRTX inched lower to complete a double bottom break at $456. The 1 for 5'er ranks near the bottom half of the biomedics/genetics sector matrix. A sell can be considered here, given the weight of the evidence and normalization of the 10-week trading band. Strong resistance can be seen at $496. Initial support at $456, with additional support at $440. |
| WFC Wells Fargo & Company ($80.36) - Banks - WFC shares moved lower today to break a double bottom to mark its fourth consecutive sell signal. This 3 for 5'er has been in a negative trend since February but on an RS buy signal versus the market since November 2024. WFC shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -70%. From here, support is offered at $78 and $77. |
