Comments include: GM, MAR, MRK, RHP, & WMB.
| GM General Motors ($85.45) - Autos and Parts - GM broke a double top at $85 for a second buy signal as shares rallied to $86, marking the highest chart level since February. The stock increase to a 4 for 5'er in technical attribute rating after seeing the trend flip back to positive on 7/22. Okay to consider here on the breakout or on a pullback to the lower $80s. Initial support lies at $79, while additional can be found at $77, the bullish support line. |
| MAR Marriott International, Inc. ($379.93) - Leisure - MAR broke a double top at $380 to return to a buy signal as shares rallied to $384, flipping the trend back to positive. The trend change will increase to a 5 for 5'er in technical attribute rating. Okay to consider here on the breakout. Note resistance around the $400 range. Initial support lies in the $360 range, while additional can be found at $348. |
| MRK Merck & Co., Inc. ($131.24) - Drugs - MRK inched higher to complete a double top break at $132, marking its second consecutive buy signal. The 5 for 5'er ranks in the top third of the drugs sector matrix. Additionally, the stock offers a yield of 2.61%. Long exposure can be made here. Initial support is at $122, with additional support at $112. |
| RHP Ryman Hospitality Properties ($134.70) - Real Estate - RHP moved higher Monday to break a double top at $134. This 4 for 5'er moved to a positive trend in March and sits in the top quintile of the real estate sector RS matrix. The weight of the technical evidence is favorable and improving. However, RHP is nearing overbought territory and at all-time highs. Initial support can be seen at $124. Note that earnings are expected on 8/6. |
| WMB Williams Companies Inc. ($71.00) - Oil Service - WMB fell to a sell signal Monday when it broke a triple bottom at $72 and continued lower, violating its trend line with a move to $71, where it now sits against support. The technical picture for WMB remains modestly positive as even with the negative trend change the stock is a 3 for 5'er. From here, overhead resistance sits at $76. |
