Comments include: AAL, AAPL, FTNT, LRCX, PHM, & WMB.
| AAL American Airlines Group Inc. ($12.99) - Aerospace Airline - AAL broke a triple bottom at $13 to bring the stock to a sell signal for the first time since May. The move also violates the bullish support line, which will drop the stock down to a 2 for 5'er trading in a negative trend. From here, support lies at $11.50 and $10.50 |
| AAPL Apple Inc. ($325.65) - Computers - Apple pushed higher on Tuesday, breaking a double top at $324 for its second consecutive buy signal. While the 4 for 5'er lost near-term peer relative strength at the start of August, it remains a solid buy with little signs of slowing down. AAPL also trades in actionable territory near the middle of its ten week trading band, so investors could look to add exposure here. Resistance from all-time highs lies at $344. |
| FTNT Fortinet Inc. ($160.91) - Software - Shares of FTNT moved lower, breaking a double bottom at $162 to move back to a sell signal. The 5 for 5'er continues to be a strong buy, but it has become choppier in recent months following the sell signal in July. That said, Fortinet remains a highs relative strength name and continues to be one of the most robust stocks out there. From here, initial support lies at $150 then $144. |
| LRCX Lam Research Corporation ($289.39) - Semiconductors - Shares of LRCX continued their downtrend on Tuesday, breaking a double bottom at $296 to move to a sell signal. The 4 for 5'er moved into a negative trend at the end of July but continues to display relative strength, keeping it in buy territory for the time being. The stock also sits just outside of the top decile of the top 500 large cap matrix. Investors can continue to hold but should watch for further deterioration. From here, initial support lies at $280 then $252. |
| PHM PulteGroup, Inc. ($123.13) - Building - PHM broke a double bottom at $124 to return the stock to a sell signal as well as violate the bullish support line. With the negative trend change, PHM will fall down to a 2 for 5'er. Bear in mind, the market RS chart sits within one box of an RS sell signal, which would drop the stock to a 1 TA rating. From here, support lies at $122, while additional can be found at $116 and $110. |
| WMB Williams Companies Inc. ($75.23) - Oil Service - WMB returned to a buy signal and a positive trend on Tuesday when it broke a double top at $76, where it now sits against resistance. The positive trend change will promote WMB to a 4 for 5'er. From here, support can be found at $70. |
