Comments include: ABNB, COP, CSCO, DK, JPM, & OKE.
| ABNB Airbnb, Inc. Class A ($161.23) - Leisure - ABNB broke a double bottom at $164 to complete a bearish catapult as shares fell to $162. While the stock still maintains a 4 technical attribute rating, support on the trend chart now resides at the bullish support line at $154. Additional support may be found at $150 and $136. |
| COP ConocoPhillips ($125.27) - Oil - COP fell to a sell signal Tuesday when it broke a double bottom at $126. Tuesday's move adds to an already unfavorable technical picture as COP is a 2 for 5'er. From here, the next level of support sits at $114. |
| CSCO Cisco Systems, Inc. ($105.61) - Computers - Shares of CSCO fell around 4% on Tuesday, breaking a double bottom at $106 to move back to a sell signal. The 4 for 5'er lost near-term peer relative strength in August but remains in buy territory for the time being. That said, investors should watch for further deterioration, especially as initial support is not seen until $91, with the bullish support line also at $88. |
| DK Delek US Holdings, Inc. ($73.34) - Oil Service - DK fell to a sell signal Tuesday when it broke a double bottom at $74 and continued lower taking out additional support at $73. The outlook for the stock remains positive, however, as DK is a 5 for 5'er and ranks third out of 77 names in the oil service sector matrix. |
| JPM J.P. Morgan Chase & Co. ($340.57) - Banks - JPM returned to a sell signal today, but do note that often the first sell signal in an otherwise strong uptrend isn't typically the end for a relatively strong asset. JPM maintains a 4/5 TA score and sits in actionable territory around current levels. Those who want to be a bit more defensive with picking up exposure, feel free to wait for a reversal back into X's which would come at $352. |
| OKE ONEOK, Inc. ($90.09) - Oil Service - OKE fell to a negative trend Tuesday when it broke a spread triple bottom at $91. The negative trend change will drop the stock to a 1 for 5'er. From here, the next level of support sits at $84. |
