Comments include: ACN, BKNG, CASY, CIGI, CRC, EBAY, KMB, PS, SHOP, TSM, & UBER.
| ACN Accenture PLC ($178.93) - Business Products - Shares of ACN broke a double bottom at $180 to move back to a sell signal. The 3 for 5'er has improved off of its July lows, moving back into a positive trend and regaining near-term relative strength. However, it remains more of a hold than anything given its lack of long-term peer and market relative strength. From here, initial support lies at $170, with the bullish support line at $160. |
| BKNG Booking Holdings Inc. ($180.29) - Leisure - BKNG broke a triple bottom at $190 as shares fell to $180, violating the bearish resistance line and shifting the trend to negative. This will drop BKNG down to a 4 for 5'er, but be sure to monitor for potential market and peer RS chart reversals. From here, support lies at $172 and $166. |
| CASY Casey's General Stores Inc ($734.80) - Retailing - CASY broke a double bottom at $736 for a second sell signal and to bring the chart down to its lowest level since April. The stock now maintains a 3 technical attribute rating after seeing the market and peer RS charts return to Os in late June. Beyond current support at current prices, the bullish support line sits at $704. |
| CIGI Colliers International Group Inc. ($95.26) - Real Estate - CIGI moved lower Tuesday to break a double bottom at $96, marking a second consecutive sell signal. This also moved the stock to a 1 for 5 TA rating and sits in the bottom quintile of the real estate sector RS matrix. The weight of the technical evidence is weak and continues to deteriorate. Further support can be seen at $93 and $89. Overhead resistance is seen initially at $100. |
| CRC California Resources Corporation ($55.87) - Oil - CRC returned to a buy signal Tuesday when it broke a triple top at $56, where it now sits against its bearish resistance line. The outlook for the stock remains negative, however as CRC Is a 2 for 5'er. From here, support can be found at $52. |
| EBAY eBay Inc. ($104.83) - Retailing - EBAY broke a double bottom at $100 to complete a bearish catapult and count as a second sell signal since peaking at $118 earlier this summer. The move also violates the bullish support line, which will drop the stock down to a 2 for 5'er with negative near-term RS agianst the market and its peer group. From here, support lies at $97, while additional can be found at $95 and in the upper $80s. |
| KMB Kimberly-Clark Corporation ($103.65) - Household Goods - KMB inched lower to complete a triple bottom break at $104. The 2 for 5'er has maintained a market RS sell signal since 2017. A sell can be considered here, given the weight of the evidence. Strong support can be seen between $93-$94. Resistance can be seen at various levels between $112-$116. |
| PS Pershing Square Inc. ($42.70) - Real Estate - PS rose Tuesday to break a triple top at $44, completing a shakeout pattern. This stock still has a 3 for 5 TA rating given its short trading history, but sits in a technically actionable position. Initial support can be seen at $36, which is also the current location of the bullish support line. Overhead resistance may be seen at the all-time highs of $54. |
| SHOP Shopify Inc ($134.10) - Retailing - SHOP broke a double bottom at $138 for a second sell signal as shares dropped to $134. While SHOP maintains a 4 TA rating, the next level of support on the default trend chart sits at $130, the bullish support line. From there, additional support may be found in the $110s. |
| TSM Taiwan Semiconductor Manufacturing Co. (Taiwan) ADR ($439.40) - Semiconductors - Shares of TSM pushed higher on Tuesday, breaking a double top at $440 for its second consecutive buy signal. The 4 for 5'er has rebounded off its July lows and continues to trade in a positive trend, remaining firmly in buy territory despite losing near-term market relative strength in July. From here, initial resistance lies at $456 and $472. |
| UBER Uber Technologies, Inc. ($73.09) - Transports/Non Air - Shares of UBER broke a double bottom at $74, leaving it right above its bullish support line at $74. The 1 for 5'er continues to lack relative strength, keeping it firmly in sell territory for the time being. Those with positions could look to sell here. |
