Comments include: AAPL, AVGO, BYD, CVS, MRK, & ROL.
| AAPL Apple Inc. ($274.67) - Computers - Shares of AAPL fell on Thursday with the announcement of raised product pricing, seeing the stock move to a sell signal with a break of a double bottom at $284. That said, the 4 for 5'er continues to hold long-term strength while trading in a positive trend. Those with positions shouldn't worry too much unless we see it violate its positive trend line at $448, keeping it as a buy for now. |
| AVGO Broadcom Ltd ($377.63) - Semiconductors - Shares of AVGO broke a double bottom at $376 to move back to a sell signal. The 3 for 5'er did recently lose near-term relative strength, bringing it down to a hold territory. Those with positions should continue to hold, as its long-term strength is still holding up, but investors should watch for further weakness. From here, initial support lies at $372, with the bullish support line at $352. |
| BYD Boyd Gaming Corp ($88.12) - Gaming - BYD broke a spread sextuple top at $90 for a second buy signal since the beginning of June and to mark a new all-time chart high. The stock maintains a 4 technical attribute rating and ranks within the top half of the Gaming sector matrix. Okay to consider here on the breakout or on a pullback ot the upper $80s. Initial support lies at $84, while the bullish support line resides at $80. |
| CVS CVS Health Corp. ($104.08) - Retailing - CVS broke a double top at $104 for a second buy signal and to mark a new multi-year high. The stock is a 5 for 5'er that ranks within the top decile of the Retailing sector matrix. Look for consolidation around the $100 level along with a normalization of the 10-week trading band before considering. Initial support lies at $98, while additional can be found at $90. |
| MRK Merck & Co., Inc. ($125.56) - Drugs - MRK inched higher to complete a triple top break at $124, marking a new intraday all-time high above $134. The 5 for 5'er ranks in the top half of the drugs sector matrix. Additionally, the stock offers a yield of 2.9%. Long exposure can be made here. Initial support is at $112, with additional support at $108. |
| ROL Rollins, Inc. ($43.01) - Business Products - ROL inched lower to complete a double bottom break at $44, marking its fifth consecutive sell signal and a multi-year low. The 1 for 5'er moved down from a 3 last month after reversing back into Os against its peers and giving a sell signal against the market. Additionally, the stock ranks near the bottom of the business products sector matrix. The weekly OBOS indicates that the stock is in oversold territory, so wait for a normalization of the 10-week trading band before selling your position. Initial resistance is at $48, with additional resistance at $55. |
