Comments include: AG, BUD, DASH, EOG, FCX, GOLF, OVV, PM, & STX.
| AG First Majestic Silver Corporation (Canada) ADR ($17.21) - Precious Metals - After giving two consecutive sell signals, AG returned to a buy signal Wednesday when it broke a double top at $17.50. The outlook for the stock remains negative, however, as AG is a 1 for 5'er. From here, the next test for the stock its bearish resistance line at $18.50; meanwhile, support can be found at $15.50. |
| BUD Anheuser-Busch InBev NV (Belgium) ADR ($83.25) - Food Beverages/Soap - VEEV moved down lower to complete a double bottom break at $188. The 2 for 5'er ranks in the bottom half of the healthcare sector matrix. A sell can be considered here. Initial resistance can be seen between $200-$204. |
| DASH DoorDash, Inc. Class A ($177.98) - Restaurants - DASH broke a double bottom at $180 for a second sell signal as shares fell to $178 on the chart. The stock continues to maintain a 5 technical attribute rating and ranks within the top half of the Restaurants sector matrix. From here, support lies at the bullish support line at $174, while additional can be found at $166. |
| EOG EOG Resources, Inc. ($145.08) - Oil - EOG returned to a buy signal and a positive trend Wednesday when it broke a triple top at $144, where it now sits against resistance. The outlook for the stock remains unfavorable as even with the positive trend change EOG is a weak 1 for 5'er. From here, support can be found at $128. |
| FCX Freeport-McMoRan Inc. ($64.32) - Metals Non Ferrous - FCX returned to a buy signal Wednesday when it broke a double top at $63. The outlook for the stock remains unfavorable, however, as FCX is a 2 for 5'er. From here, the next level of overhead resistance is FCX's bearish resistance line at $69. |
| GOLF Acushnet Holdings Corp ($108.31) - Leisure - GOLF broke a double bottom at $108 to initiate a shakeout pattern. The stock is a 5 for 5'er that ranks within the top half of the Leisure sector matrix. The action point for the shakeout pattern is upon a reversal back into Xs, currently at $114, while the pattern would be complete upon the triple top break at $120. From here, prior resistance in the mid to low $100 range may be seen as initial support, while additional can be found at $97. |
| OVV Ovintiv Inc ($60.36) - Oil - After giving two consecutive sell signals, OVV returned to a buy signal Wednesday with a double top break at $60. Wednesday's move adds to a modestly positive technical picture as OVV is a 3 for 5'er that ranks in the top quintile of the oil sector matrix. From here, overhead resistance sits at $62, meanwhile support can be found at $52. |
| PM Philip Morris International Inc. ($194.29) - Food Beverages/Soap - PM completed a double top break at $196, marking its second consecutive buy signal and a new all-time high. The 5 for 5'er ranks in the top quintile of the food beverages/soap sector matrix. Additionally, the stock offers a yield of 3%. Long exposure can be made here. Initial support at $188, with additional support between $174-$176. |
| STX Seagate Technology ($911.86) - Computers - Shares of STX broke a double top at $912 to move back to a buy signal. The 3 for 5'er has pulled back in recent weeks, losing near-term relative strength to drop into hold territory. Those with exposure should continue holding while those on the sidelines should wait for further improvement before adding. From here, resistance lies ahead at $928 , $992, then the lower $1100s from all-time highs. |
