Comments include: CEG, FTNT, LOW, MSTR, & SHAK.
| CEG Constellation Energy Corporation ($320.68) - Utilities/Electricity - CEG broke a double top at $320 for a third buy signal as shares rallied to $324. The stock improved to a 4 for 5'er after seeing the trend flip to positive earlier in April, but it continues to rank within the bottom half of the Electric Utilities sector matrix. From here, resistance lies at $332, while additional can be found at $344. Initial support lies at $296, while the bullish support line resides at $284. |
| FTNT Fortinet Inc. ($89.21) - Software - FTNT rose on Monday to break a triple top at $88 before climbing to $89 intraday. This marks the third consecutive buy signal for the 4 for 5'er that has been On an RS buy signal against the market since 2023. The weight of the technical evidence is favorable and improving ahead of the expected earnings release on 5/6. Initial support can be seen at $83 with further support at $82. |
| LOW Lowe's Companies Inc. ($223.94) - Building - LOW continued lower with today's action, posting a second consecutive sell with at $224. The 1/5'er remains a point of weakness and there are several other areas worth looking towards over the home construction name. A trip back down to the bottom of the 10-week trading band between $220-$200 is not out of the question as we open up May. |
| MSTR Strategy Inc ($183.40) - Software - MSTR rose Monday to break a double top at $184 before reaching $186 intraday. This 4 for 5'er moved to a positive trend in April and sits in the top decile of the favored software sector RS matrix. The weight of the technical evidence is favorable and improving again. However, the stock is nearing overbought territory. Initial support is seen at $158. Further overhead resistance could be seen at $190. Note that earning are expected on 5/5. |
| SHAK Shake Shack Inc ($95.76) - Restaurants - SHAK broke a spread quadruple bottom at $96 for a second sell signal as shares fell to $95. The stock has been a 4 for 5'er since moving back into a positive trend earlier in April and continues to rank within the top third of the Restaurants sector matrix. From here, support lies at the bullish support line at $91, while additional can be found at $87. |
