Comments include: ABBV, DE, EXPE, GILD, SPHR, URBN, VLO, & WOR.
| ABBV AbbVie Inc. ($265.20) - Drugs - ABBV inched higher to complete a triple top break at $268, marking its fourth consecutive buy signal. The 3 for 5'er ranks in the top third of the drugs sector matrix. Although there has been much improvement in recent months, ABBV is still rated a hold. Continue waiting for further improvement. Initial strong support can be seen between $244-$248. |
| DE Deere & Company ($709.48) - Machinery and Tools - Nice break for DE today. We are a touch overbought around current levels, but you could look for exposure on pullbacks to new support around $672. The industrials space is weakening... a point to keep in mind, but DE remains a high attribute 5/5'er as we move into Q4. |
| EXPE Expedia Group Inc. ($261.71) - Leisure - EXPE broke a double bottom at $260 for a third sell signal since late August. The break follows the stock shifting into a negative trend earlier in September and will place the market RS chart in a column of Os, dropping the stock down to a 3 for 5'er. From here, support lies at $252, while additional lies at $220 and $208. |
| GILD Gilead Sciences, Inc. ($150.19) - Biomedics/Genetics - GILD inched higher to complete a double top break at $154, marking its third consecutive buy signal. The 3 for 5'er moved up from a 2 on 9/22, after reversing back into Xs against the market. Additionally, the stock ranks in the top half of the biomedics/genetics sector matrix. Continue to wait for further improvement before considering, as the stock is still rated a hold. Initial support is at $144, with additional strong support between $128-$130. |
| SPHR Sphere Entertainment Co. ($137.30) - Leisure - SPHR broke a triple bottom at $140 to return to a sell signal and violate the bullish support line as shares fell to $138. The trend change will drop the stock down to a 3 for 5'er and will bring the stock to the cusp of falling into the bottom half of the Leisure sector matrix. Support lies at current levels, while additional can be found at $134, which dates to June of this year. |
| URBN Urban Outfitters, Inc. ($74.40) - Retailing - URBN broke a double bottom at $74 for a second sell signal since rallying to $85 in August. The move violates the bullish support line, which will flip the trend to negative and drop the stock down to a 3 for 5'er in technical attribute rating. From here, support lies at $72, while additional can be found in the mid to upper $60s. |
| VLO Valero Energy Corp ($376.44) - Oil Service - VLO gave an initial sell signal Wednesday when it broke a double bottom at $372. The outlook for the stock remains positive despite Wednesday's move as VLO is a 5 for 5'er that ranks eighth out of 77 names in the oil service sector matrix. From here, the next level of support sits at $336. |
| WOR Worthington Enterprises Inc. ($60.40) - Steel/Iron - WOR returned to a buy signal and a positive trend Wednesday when it broke a double top at $61. The outlook for the stock remains negative, however, as even with the positive trend change WOR is an unfavorable 2 for 5'er. WOR now sits against resistance at $67, while support can be found at $57. |
