Comments include: AA, BSX, CENX, FSLR, NRG, RGLD, & TOL.
| AA Alcoa Inc. ($62.46) - Metals Non Ferrous - AA returned to a buy signal Monday when it broke a double top at $60 and continued higher, returning to a positive trend with a move to $66. The positive trend change will promote AA to a 4 for 5'er and the stock ranks first out of 21 names in the non-ferrous metals sector matrix. From here, AA faces overhead resistance at $68, a level from which is has reversed down three times since the beginning of March. Meanwhile, support can be found at $56. |
| BSX Boston Scientific Corporation ($62.86) - Healthcare - BSX reversed into Os and completed a double bottom break at $67, marking its fifth consecutive sell signal and an intraday low below $62. The 2 for 5'er moved down from a 3 in January after moving into a negative trend. Additionally, the stock ranks near the bottom of the healthcare sector matrix. The weekly OBOS indicates that the stock is in heavily oversold territory, so wait for the 10-week trading band to normalize before selling your position. Initial resistance can be seen at $71, with additional resistance at $76. |
| CENX Century Aluminum Co ($52.65) - Metals Non Ferrous - CENX returned to a buy signal Monday when it broke a double top at $52 and continued higher to $59, where it now sits against resistance. Monday's move adds to a favorable technical outlook as CENX is a 4 for 5'er that ranks in the top decile of the non-ferrous metals sector matrix. From here, the first level of support sits at $48. |
| FSLR First Solar, Inc. ($184.39) - Electronics - FSLR declined Monday to break a double bottom at $184, marking a seventh consecutive sell signal. This 1 for 5'er has been in a negative trend since February and sits in the bottom quintile of the electronics sector RS matrix. The weight of the technical evidence is weak and deteriorating. Further support may be seen at $178 from last August. Overhead resistance may be seen at $194. |
| NRG NRG Energy, Inc. ($140.29) - Utilities/Electricity - NRG broke a double bottom at $144 for a second sell signal as shares fell down to $140. The move violates support that dates to September of last year and brings the chart to its lowest level since May of last year. Support for the 2 for 5'er now resides at prior resistace in the $110 and $100 range. |
| RGLD Royal Gold Inc ($237.01) - Precious Metals - RGLD returned to a buy signal Monday when it broke a double top at $240. The outlook for the stock remains, negative, however, as RGLD is a 1 for 5'er and ranks in the bottom half of the precious metals sector matrix. From here, the first level of support sits at $224; meanwhile, the first level of resistance is RGLD's bearish resistance line at $276. |
| TOL Toll Brothers, Inc. ($131.09) - Building - TOL broke a double bottom at $130 for a fifth sell signal since peaking at $168 in February. The stock has witnessed its peer RS chart return to Os and its default trend chart move into a negative trend, dropping the stock down to a 3 for 5'er. Support lies at current chart levels, while additional can be found at $124 and $118. |
