Comments include: AA, ARM, ASH, AXP, CCEP, CENX, CNR, DD, GM, HXL, RIO, & WSM.
| AA Alcoa Inc. ($72.06) - Metals Non Ferrous - AA gave an initial sell signal Tuesday when it broke a double bottom at $71. The technical picture for the stock remains positive as AA is a 4 for 5'er. From here, the next level of support is AA's trend line at $66. However, beyond that level, the stock shows no further support until $61. |
| ARM ARM Holdings PLC ADR ($319.84) - Semiconductors - Shares of ARM fell have fallen sharply over the last several days, breaking a double bottom at $336 and moving to a sell signal. Today's move also saw the stock lose its near-term market relative strength, bringing it down to a 4 for 5'er. That said, the stock remains more of a buy given its long-term relative strength, so investors should continue holding. |
| ASH Ashland Inc. ($62.19) - Chemicals - ASH gave an initial buy signal and moved to a positive trend Tuesday when it broke a triple top at $60. The outlook for the stock remains unfavorable, however, as even with the positive trend change ASH is a weak 1 for 5'er. From here, ASH faces overhead resistance at $65. Meanwhile, support can be found at $49. |
| AXP American Express Company ($318.04) - Finance - AXP shares broke a double top at $320 to mark its second consecutive buy signal. This 4 for 5'er has been in a positive trend since April and on an RS buy signal versus the market since February 2022. AXP shares are trading near the middle of their ten-week trading band with a weekly overbought/oversold reading of -6%. From here, support is offered at $304. |
| CCEP Coca-Cola Europacific Partners PLC ($96.59) - Food Beverages/Soap - CCEP inched higher to complete a double top break at $96. The 4 for 5'er moved up from a 3 with its latest move, after reversing back into a positive trend. Additionally, the stock ranks in the top half of the food beverage/soap sector matrix and offers a yield of 2.5%. Long exposure can be made here. Initial strong support is at $90, with additional support at $85. |
| CENX Century Aluminum Co ($61.33) - Metals Non Ferrous - CENX gave a second consecutive sell signal and fell to a negative trend Tuesday when it broke a double bottom at $59. The negative trend change will drop CENX to an unfavorable 2 for 5'er. From here, the next level of support sits at $54. |
| CNR Core Natural Resources Inc. ($90.43) - Oil - CNR gave an initial sell signal Tuesday when it broke a double bottom at $92. The move adds to an already weak technical picture as CNR Is a 2 for 5'er. From here, the next level of support sits at $88. |
| DD DuPont de Nemours Inc. ($46.96) - Chemicals - DD fell to a sell signal Tuesday when it broke a double bottom at $46. The outlook for the stock remains positive, however, as DD is a 5 for 5'er that ranks in the top quartile of the chemicals sector matrix. From here, the next level of support on DD's chart sits at $45. |
| GM General Motors ($83.68) - Autos and Parts - GM broke a double top at $85 for a second buy signal. The breakout occurs after the trend flipped back to positive to finish off May, increasing the stock up to a 5 for 5'er. Okay to consider here on the breakout. Note the stock's all-time high form earlier this year at $87. Initial support lies at $81, while the bullish support line sits at $75. |
| HXL Hexcel Corporation ($92.22) - Aerospace Airline - HXL posted its second consecutive buy signal on its default chart today, gaining roughly 3.5% for the day. The 3/5'er, having recently broken back into a positive trend, is looking to sustain price action between current levels and all time highs back from April of this year. While we aren't sitting at a technically "strong" rating based purely on the technical attribute score, the trend break and series of higher lows between $77 and the middle of the trading band at $88 is constructive. |
| RIO Rio Tinto PLC (United Kingdom) ADR ($101.20) - Metals Non Ferrous - RIO gave an initial sell signal Tuesday when it broke a double bottom at $99. Tuesday's move adds to an unfavorable overall technical picture as RIO is a 2 for 5'er. From here, the next level of support on RIO's chart sits at $97. However, beyond this level it shows no further support until $83. |
| WSM Williams-Sonoma, Inc. ($214.04) - Retailing - WSM broke a spread triple top at $212 for a second buy signal and to bring the stock to its highest chart level since February. The break follows the stock shifting back into a positive trend to cap off May's trading, increasing the stock to a 3 for 5'er. Okay to consider here on the breakout. Note the stock's all-time chart high at $220. Initial support lies at $198, while the bullish support line sits at $170. |
