Comments include: ARM, AU, CHD, DAL, DASH, DINO, EMN, GE, IFF, MAR, SAP, & TXN.
| ARM ARM Holdings PLC ADR ($238.37) - Semiconductors - ARM broke another double bottom at $220 for its fourth consecutive sell signal. ARM has lost significant relative strength over the last several weeks, losing all of its peer and market relative strength, pushing it down to sell territory as a 1 for 5'er. Those with exposure could look to cut the name loose here. From here, initial support lies from $204 to $194, with the bullish support line at $186. |
| AU AngloGold Ashanti Limited (South Africa) ADR ($81.88) - Precious Metals - AU returned to a buy signal and a positive trend Monday when it broke a spread quadruple top at $83, where it now sits against resistance. The positive trend change will promote AU to an acceptable 3 for 5'er. From here, the first level of support sits at $74. |
| CHD Church & Dwight Company ($100.13) - Household Goods - CHD completed a spread septuple top break at $102. The 4 for 5'er moved up from a 3 after reversing back into a positive trend with its latest move. Long exposure can be made here given the weight of the evidence. Initial strong support can be seen between $93-$95. |
| DAL Delta Air Lines Inc. ($91.06) - Aerospace Airline - DAL broke a double top at $90 to return to a buy signal as shares rallied to $91. DAL maintains a 5 technical attribute rating and ranks 2nd (out of 63) in the Aerospace Airline sector matrix. Okay to consider here on the breakout. Note prior highs at $95. Initial support lies at $81, while the bullish support line sits at $78. |
| DASH DoorDash, Inc. Class A ($201.86) - Restaurants - DASH broke a spread triple top at $200 for a second buy signal and to bring the chart to levels not seen since February. The stock improved to a 5 for 5'er after seeing the trend flip to positive during the closing days of July. Okay to consider here on the breakout. From here, note resistance in the $230 range. Initial support lies at $190, while the bullish support line lies at $172. |
| DINO HF Sinclair Corporation ($87.83) - Oil Service - DINO gave an initial sell signal Monday when it broke a double bottom at $88. The outlook for the stock remains favorable, however, as DINO is a 5 for 5'er that ranks in the top decile of the oil service sector matrix. From here, the next level of support sits at $86. |
| EMN Eastman Chemical Company ($71.92) - Chemicals - EMN gave a second consecutive buy signal and moved into a positive trend Monday when it broke a double top at $72. The outlook for the stock remains negative, however, as even with the positive trend change EMN is a 1 for 5'er. From here, support can be found at $68 while the next level of overhead resistance sits at $77. |
| GE GE Aerospace ($369.05) - Aerospace Airline -GE sits off recent highs established during our last comment on 7/2. Since that point, this 5/5'er has journeyed nicely off its bullish support line below current levels, sitting just within earshot of its highs above current levels at $380. GE ranks 5th out of 63 within the aerospace matrix and remains a featured leader within the group- it is up nearly 20% so far this year. |
| IFF International Flavors & Fragrances Inc. ($80.30) - Chemicals - IFF gave an initial buy signal and returned to a positive trend Monday when it broke a double top at $81. The positive trend change will elevate the stock to a 4 for 5'er. From here, the next level of overhead resistance sits at $83. Meanwhile, support can be found at $73. |
| MAR Marriott International, Inc. ($347.52) - Leisure - MAR broke a double bottom at $360 to return to a sell signal as shares fell to $348. This brings the chart down to test support at current prices and will flip the trend back to negative, dropping the stock down to a 4 for 5'er. Also note the market RS chart is within one box of reversing down into Os with this breakdown. Beyond current support, additional can be found in the $312 to $320 range. |
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SAP SAP AG (Germany) ADR ($190.39) - Software - Shares of SAP pushed higher on Monday, moving to its second consecutive buy signal. Today's movement also saw the stock reverse back into Xs on its market RS chart. SAP has rebounded sharply off lows, moving back into a positive trend last week as well, placing it in buy territory as a 4 for 5'er. Initial support lies at $178 while initial resistance is at $196. |
| TXN Texas Instruments Incorporated ($269.04) - Semiconductors - TXN reversed down into a column of Os and broke a double bottom at $268, marking its third consecutive sell signal. This 3 for 5'er was demoted from a 4 for 5'er last week and now trades just above its bullish support line. Relative strength is mixed here, as the stock reversed into a column of Os against the market last week. The weight of the technical evidence is beginning to deteriorate, and traders should watch the bullish support line closely for signs of a trend violation. Initial support lies at $268, in addition to $256 at the bullish support line. |
