Comments include: AVGO, CAKE, COF, COR, ETR, INTC, ISRG, & LUV
| AVGO Broadcom Ltd ($301.70) - Semiconductors - AVGO fell Friday to break a spread triple bottom before dropping to $300 intraday. This also moved the stock into a negative trend, demoting it to a 2 for 5 TA rating. The weight of the technical evidence is now weak. Avoid long exposure. Further support may be seen at $296. Overhead resistance is seen at $324. |
| CAKE The Cheesecake Factory Incorporated ($53.64) - Restaurants - CAKE broke a double bottom at $55 for the fourth sell signal since reaching its near-term peak at $66 in February. The break follows the stock shifting into a negative trend, which dropped the stock down to a 4 for 5'er. With shares ulitmately falling to $53, the chart now lies at its lowest level since the beginning of the year. From here support lies in the $43 to $44 range. |
| COF Capital One Financial Corporation ($176.44) - Finance - COF shares moved lower today to break a double bottom at $180 to mark its first 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 2020. COF shares are trading in heavily oversold territory with a weekly overbought/oversold reading of -70%. From here, support is offered at $176. |
| COR Cencora Inc. ($312.45) - Drugs - Cor completed a double bottom break at $316, marking its second consecutive sell signal. The 3 for 5'er lost two points this month after moving back into a negative trend and reversing back into Os against its peers. Additionally, the stock ranks in the bottom half of the drugs sector matrix. The stock is still rated a hold, but continue to monitor for further weakness. Initial resistance can be seen at $332, with additional resistance at $376. |
| ETR Entergy Corporation ($109.92) - Utilities/Electricity - ETR reversed into Xs and broke a double top at $108 for a fourth buy signal as shares rallied to $110, marking a new all-time chart high. The stock has been a 5 for 5'er since January of 2025 and currently ranks within the top quintile of the Electric Utilities sector matrix. Okay to consider here on the breakout or on a pullback to the lower $100 range. Initial support lies at $100, while additional can be found in the lower to mid $90s. |
| INTC Intel Corporation ($43.04) - Semiconductors - INTC moved lower Friday to break a triple bottom at $43. This also moved the stock to a negative trend and demotes it to a 2 for 5 TA rating. The weight of the technical evidence is now negative. Further support may be seen at $42. Overhead resistance is seen at $47. Earnings are expected on 4/23. |
| ISRG Intuitive Surgical, Inc. ($452.66) - Healthcare - ISRG reversed back down and completed a double bottom break at $456, marking its fourth consecutive sell signal. The 3 for 5'er lost two signals last month after moving back into a negative trend and reversing back into Os against the market. The stock is still rated a hold but continue to monitor for further weakness. Initial resistance can be seen at $488, with additional resistance at $504. |
| LUV Southwest Airlines Co. ($37.29) - Aerospace Airline - LUV broke a double bottom at $38 for a second sell signal since the stock rallied to the mid $50s in February. This brings the stock within one box of the bullish support line, while would be violated with a move below $36. The stock continues to maintain a 3 technical attribute rating and ranks within the top half of the Aerospace Airline sector matrix. From here, support beyond the bullish support line lies in the $29 to $30 range. |
