Comments include: AVGO, INTC, JPM, MRVL, NET, PLTR, SNDK, & ZS.
| AVGO Broadcom Ltd ($420.76) - Semiconductors - Shares of AVGO broke a quadruple top at $400 to move back to a buy signal, in addition to flipping its trend back to positive. The now 4 for 5'er is back to buy territory. From here, initial resistance from all-time highs lies at $488. |
| INTC Intel Corporation ($101.25) - Semiconductors - Shares of INTC rebounded sharply on Tuesday, breaking a double top at $98 to move back to a buy signal. Today's move also saw the stock regain near-term market relative strength, returning it back to strong territory as a 4 for 5'er. From here, initial resistance lies at $106 and $108. |
| JPM J.P. Morgan Chase & Co. ($358.64) - Banks - JPM pushed higher today, posting its 5th consecutive buy signal in the process. The stock's technical picture is strong and improving. Feel free to add here or on pullbacks to a wide range of support from $328 to $344. |
| MRVL Marvell Technology Inc. ($219.31) - Semiconductors - Shares of MRVL broke a double top at $204, ending its streak of five consecutive sell signals. Today's move also saw the stock regain near-term market relative strength, taking it back into positive territory as a 4 for 5'er. With its rebound, it's back to being more of a buy than a sell. From here, initial resistance lies at $232 and $248. |
| NET Cloudflare Inc Class A ($303.67) - Internet - Shares of NET broke a double top at $296 for its second consecutive buy signal, reaching all-time highs as well. The perfect 5 for 5'er has consistently pushed higher recently and remains a solid buy for those needing new technology stocks in their portfolio. Initial support lies at $280 and $252, with the bullish support line also at $252. |
| PLTR Palantir Technologies Inc. Class A ($163.52) - Software - Shares of PLTR went nuclear on Tuesday, rising around 30% on the day to return to a buy signal. PLTR's move flipped its trend back to positive and will likely regain near-term relative strength. However, even that wouldn't make it anything more than just a hold as a 3 for 5'er. Initial resistance lies at $164 then $172 while initial support isn't found until $120 |
| SNDK SanDisk Corp ($1,434.75) - Computers - Shares on SNDK broke a double top at $1408, ending its streak of two consecutive sell signals. The stock recently regained near-term market relative strength, bringing it back into buy territory as a 4 for 5'er. From here, initial resistance lies at $1696 then $1792. |
| ZS Zscaler, Inc. ($162.31) - Internet - ZS broke a spread triple top at $158 today, clearing its bearish resistance line and flipping into a positive trend. That trend change, combined with the RS chart versus the market reversing back up into a column of Xs, lifted ZS from a 0 for 5'er to a 2 for 5'er. The stock still sits on RS sell signals against both the market and its peers, so it remains in sell territory for now. The stock's picture is attempting to turn bullish, but traders should watch for continued relative strength improvement to confirm the turn before committing long exposure. Support can be found at $144. |
