Comments include: CC, EBAY, LRCX, SRE, & XOM.
| CC The Chemours Company ($19.09) - Chemicals - CC returned to a buy signal Tuesday when it broke a double top at $18.50. Thursday's move adds to an already positive technical outlook as CC is a 4 for 5'er that ranks in the top quintile of the chemicals sector matrix. From here, overhead resistance sits at $21, while support can be found at $15.50. |
| EBAY eBay Inc. ($94.30) - Retailing - EBAY broke a double top at $95 for a third buy signal since late February. The stock has improved to a 4 for 5'er with the recent trend flip to positive and peer RS chart reversing back into a column of Xs. Okay to consider here on the breakout. Note resistance at $97 and $100, the stock's all-time chart high. Initial support lies at $90, while additional can be found in the mid-$80s. |
| LRCX Lam Research Corporation ($224.79) - Semiconductors - LRCX pushed higher Tuesday to break a double top at $224. This 5 for 5'er moved to a positive trend in May and sits in the top third of the favored semiconductors sector RS matrix. The stock has also been on an RS buy signal against the market and its peers since 2023. The weight of the long-term technical evidence is favorable and the stock is showing near-term improvement again. Initial support can be seen at $208 with further support at $196. |
| SRE Sempra Energy ($96.17) - Gas Utilities - SRE broke a double top at $97 to return to a buy signal and match the stock's all-time chart high. The stock has been a 3 for 5'er since October last year and maintains a yield north of 2%. Okay to consider here on the breakout. Initial support lies at $91, while the bullish support line sits at $86. |
| XOM Exxon Mobil Corporation ($158.81) - Oil - XOM gave a fourth consecutive buy signal and reached a new all-time high Tuesday when it broke a double top at $160. Tuesday's move adds to a positive overall picture as XOM is a 4 for 5'er and ranks in the top quintile of the oil sector matrix. However, Tuesday's move has pushed the stock into heavily extended territory. From here, the first level of support sits at $148. |
