Comments include: AG, AVGO, CENX, H, HLT, LLY, MAR, MP, NEM, NVDA, & PAAS.
| AG First Majestic Silver Corporation (Canada) ADR ($16.95) - Precious Metals - AG was down 14% on Friday and fell to a sell signal when it broke a triple bottom at $18.50. The stock continued lower to $17, where it now sits against its bullish support line. Friday's move adds to an already weak technical picture as AG is an unfavorable 2 for 5'er. A move to $16.50 would violate its trend line and drop AG to a 1 for 5'er. |
| AVGO Broadcom Ltd ($385.73) - Semiconductors - Shares of AVGO have fallen sharply over the last two trading sessions, and today's action broke a double bottom at $400, ending its streak of four consecutive buy signals. The stock was previously in heavily overbought territory, but recent action has seen it pull back to actionable territory. The 4 for 5'er could be one to look at for those hoping buy the dip, as its long-term picture is still positive. From here, previous resistance in the mid-$300s could serve as initial support, with the bullish support line farther below at $328. |
| CENX Century Aluminum Co ($60.33) - Metals Non Ferrous - CENX was down more than 9% Friday and fell to a sell signal with a double bottom break at $63. The stock continued lower to $60, where it now sits just above its bullish support line. The outlook for the stock remains moderately positive as it is a 3 for 5'er. Beyond its trend line, the next level of support on CENX's chart sits at $54. |
| H Hyatt Hotels Corp. ($193.69) - Leisure - H reversed into Xs and broke a double top at $192 for a sixth consecuitive buy signal as shares rallied to a new high at $194. The stock is a 5 for 5'er that ranks within the top third of the Leisure sector matrix. Okay to consider on a pullback to the upper $180s. Initial support lies in the lower $180s, while additional can be found in the mid $170s. |
| HLT Hilton Worldwide Holdings Inc ($341.27) - Leisure - HLT broke a double top at $340 to complete a bullish catapult and count as a third buy signal as shares rallied to match highs at $344. The stock is a 5 for 5'er that ranks within the top half of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback toward the upper $320 range. Initial support lies in the lower $320s while additional can be found at $312. |
| LLY Eli Lilly and Company ($1,146.78) - Drugs - LLY inched higher to complete a double top break at $1152, marking its third consecutive buy signal and a new all-time high. The 5 for 5'er moved up from a 2 last month after reversing back into Xs against both the market and its peers, and moving back into a positive trend. Additionally, the stock ranks in the top quartile of the drugs sector matrix. The weekly OBOS indicates that the stock is in overbought territory, so wait for a normalization of the 10-week trading band. Initial support is at $1056, with additional support at $944. |
| MAR Marriott International, Inc. ($390.61) - Leisure - MAR broke a double top at $392 for a fourth buy signal as shares rallied to a new all-time high at $396. The stock is a 5 for 5'er that ranks within the top third of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback to the $380 range. Initial support lies at $372, while additional resides in the $340 range. |
| MP MP Materials Corp. ($59.14) - Metals Non Ferrous - MP fell nearly 10% on Friday and gave a sell signal when it broke a double bottom at $63. The stock now sits against its bullish support line at $59. A move to $58 would violate MP's trend line and drop it to an unfavorable 2 for 5'er. |
| NEM Newmont Corp ($100.37) - Precious Metals - NEM gave a second consecutive sell signal and violated its trend line Friday when it broke a double bottom at $102. The negative trend change will drop the stock to a weak 1 for 5'er. From here, the next level of support on NEM's chart sits at $96. |
| NVDA NVIDIA Corporation ($205.82) - Semiconductors - Shares of NVDA broke a double bottom at $208 for its first sell signal since March. The 3 for 5'er has rallied in recent months, but with other semi companies doing even better, it continues to lack peer relative strength. Those with exposure can continue holding while those on the sidelines should wait for peer improvement before buying. From here, initial support lies at $196, with previous resistance in the mid $190s also serving as potential support. |
| PAAS Pan American Silver Corp ($47.44) - Precious Metals - PAAS fell more than 10% Friday moving to a sell signal and a negative trend when it broke a double bottom at $52. The negative trend change will drop PAAS to an unfavorable 2 for 5'er. |
