Comments include: CEG, ETR, PAAS, W, & ZS.
| CEG Constellation Energy Corporation ($265.16) - Utilities/Electricity - CEG broke a double bottom at $268 to return to a sell signal. The move also violates the bullish support line, which will drop the stock down to a 2 for 5'er after recently seeing the stock reverse back into Xs on both its market and peer RS chart. From here, support lies in the $260 range, while additional can be found at $248. |
| ETR Entergy Corporation ($103.84) - Utilities/Electricity - ETR broke a double bottom at $140 for a second sell signal since peaking at $118 in April. The stock continues to maintain a 4 technical attribute rating and ranks within the top decile of the Electric Utilities sector matrix. From here, support lies at $100, while the bullish support line sits at $97. |
| PAAS Pan American Silver Corp ($48.72) - Precious Metals - PAAS fell to a sell signal Monday when it broke a double bottom at $49. The outlook for the stock remains positive despite Monday's move as PAAS is a 4 for 5'er. From here, the next level of support can be found at $47, where PAAS's bullish support line also currently sits. |
| W Wayfair Inc. ($105.73) - Retailing - W broke a triple top at $102 to return to a buy signal as shares rallied to $104. The stock has been a 4 for 5'er since June of this year and currently ranks within the top quintile of the Retailing sector matrix. Okay to consider here on the breakout. Note resistance at $118, the August chart high. Initial support lies in the $96 to $97 range, while additional can be found at $93. |
| ZS Zscaler, Inc. ($193.13) - Internet - ZS pushed higher today, rallying over 15% to break a double top for a buy signal while also reversing its trend back to positive. This action promoted ZS to a 3 for 5'er, up from a 2 for 5'er, lifting it into hold territory. Relative strength remains the drag, with sell signals against both the market and its peers. Watch for RS improvement to confirm the turn before adding long exposure. Support sits at $162 at the bearish support line. |
