Analyst Observations | Nasdaq Dorsey Wright

Comments include: COO, ORCL, PDS, & PSX.

COO The Cooper Companies, Inc. ($69.14) - Healthcare - COO completed a double bottom sell signal at $69, marking its fourth consecutive sell signal. The 1 for 5'er moved down from a 2 with its latest move, after reversing back into Os against the market. The weekly OBOS indicates that the stock is in oversold territory, so wait for the 10-week trading band to normalize before selling your position. Initial resistance is at $73, with additional resistance at $76.

ORCL Oracle Corporation ($143.32) - Software - ORCL fell Tuesday to break a double bottom at $140, marking a second consecutive sell signal. This 1 for 5 TA stock sits in the bottom half of the unfavored software sector RS matrix and has been on an RS sell signal against the market since February. The weight of the evidence is decidedly negative and weakening. Note that further support sits at $138 and $136. Overhead resistance may be seen initially at $148, with more notable resistance seen at $170.

PDS Precision Drilling Corporation ($95.28) - Oil Service - PDS returned to a buy signal Tuesday when it broke a double top at $97. Tuesday's move adds evidence to an already positive technical picture as PDS is a 4 for 5'er that ranks in the top quintile of the favored oil service sector matrix. From here, support sits at $93 while overhead resistance can be found at $102,.

PSX Phillips 66 ($173.58) - Oil Service - PSX fell to a sell signal Tuesday when it broke a double bottom at $172, where it now sits against support. The outlook for the stock remains modestly positive as PSX is a 3 for 5'er that ranks in the top half of the oil service sector matrix.

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