Comments include: GOLF, KR, NUE, PLTR, STLD, & VSXY.
| GOLF Acushnet Holdings Corp ($106.80) - Leisure - GOLF broke a double top at $102 for a second buy signal as shares rallied to $108, marking a new all-time chart high. The stock recently improved to a 5 for 5'er after seeing the trend flip back to positive earlier this month. Okay to consider on a pullback to the lower $100 to upper $90 range. Initial support lies at $97, while the bullish support line resides at $88. |
| KR The Kroger Co. ($56.62) - Retailing - KR moved lower to completed a double bottom break at $61 and an intraday low below $57, marking its second consecutive sell signal. The 1 for 5'er moved down from a 2 earlier this month, after moving back into a sell signal against the market. Additionally, the stock ranks in the bottom half of the retailing sector matrix. The weekly OBOS indicates that the stock is in oversold territory, so wait for a pullback before selling your position. Initial resistance is at $65, with additional resistance at $71. |
| NUE Nucor Corporation ($243.98) - Steel/Iron - NUE fell to a sell signal Thursday when it broke a double bottom at $244. The outlook for NUE remains strong as the stock is a 5 for 5'er and ranks fourth out of 12 names in the steel/iron sector matrix. From here, the next level of support sits at $220. |
| PLTR Palantir Technologies Inc. Class A ($128.34) - Software - Shares of PLTR got closer to its lows from earlier this year, moving to its second consecutive sell signal. The 0 for 5'er returned to a negative trend this month and is now one to avoid or sell. From here, initial support lies at $124. |
| STLD Steel Dynamics Inc. ($250.79) - Steel/Iron - STLD was down more than 7% on Thursday and fell to a sell signal when it broke a double bottom at $256. The outlook for the stock remains positive, however, as STLD is a 5 for 5'er that ranks in the top quintile of the steel/iron sector matrix. From here, the next level of support sits at $220. |
| VSXY Victoria\'s Secret & Company ($82.85) - Retailing - VSXY broke a double top at $83 for a fourth buy signal since May and to mark a new all-time chart high. The stock improved to a 5 for 5'er at the end of May after seeing the trend back to positive and seeing the market and peer RS charts shift back to a column of Xs. The recent rally has placed the stock within overbought territory, so those seeking exposure are best to either dollar cost average into a position or await further consoldiation around current price levels. Notable support lies in the lower $70s. |
