Comments include: BURL, CLH, PLTR, SNPS, UHAL, & URI.
| BURL Burlington Stores, Inc. ($293.04) - Retailing - BURL reversed into Os and broke a double bottom at $280 to return to a buy signal, bringing shares down to their lowest level since December last year. BURL has fallen to a 3 for 5'er after seeing the market RS chart reverse into Os in mid May. Support now lies at $260 and $242. |
| CLH Clean Harbors Inc ($280.52) - Waste Management - CLH- despite being a high attribute name- has posted its second consecutive sell signal on its default chart. All that to say, keep an eye on this name as it now sits with a handful of layers of resistance between current levels and the all-time highs established earlier this year. Silver lining, support is just below current levels at $276. |
| PLTR Palantir Technologies Inc. Class A ($142.65) - Software - Shares of PLTR pushed higher Thursday to break a double top at $140, ending its streak of three consecutive sell signals. Today's move also saw the stock flip its trend back to positive, bringing it up to hold territory as a 3 for 5'er. That said, the stock still lacks near-term relative strength, and has consistently moved lower over the last several months. Those looking to buy might be better suited to wait for further improvement. From here, initial resistance lies at $148, $152, then $156. |
| SNPS Synopsys Inc ($480.64) - Software - Shares of SNPS broke a double bottom at $472 to complete a bearish signal reversal, ending its streak of five consecutive buy signals. The stock moved back to a positive trend in April but continues to lack some relative strength, keeping it in hold territory as a 3 for 5'er. Those looking to buy the stock should stay on the sidelines until we see further improvement, while those with existing positions should continue to hold on. From here, initial support lies at $472 and $456, with the bullish support line at $440. |
| UHAL U-Haul Holding Co. ($58.03) - Transports/Non Air - UHAL popped as much as 11% on the back of its most recent earnings release, pushing it back into a positive trend on its default chart. With the move, UHAUL should also return to a column of X's against the broader market, leading to a improved (but still unfavorable) 2/5 TA score. While you may be tempted to try and jump in after the favorable reaction, note the stock still lacks a strong TA score, is now overbought, and encroaching in on a logical point of resistance dating back to February. Watch for reversals back into O's at $55. |
| URI United Rentals, Inc. ($986.78) - Machinery and Tools - URI moved up higher to complete a double top break at $992. The 5 for 5'er moved up from a 4 earlier this month after reversing back into Xs against its peers. The weekly OBOS indicates that the stock is in overbought territory, so wait for a normalization of the 10-week trading band before considering. Initial support is at $912, with additional strong support between $704- $712. |
