Comments include: ACN, C, CAT, CE, GOOGL, HCC, JNJ, LYV, MSFT, RIO, & UNH.
| ACN Accenture PLC ($216.47) - Business Products - Shares of ACN pushed higher after reporting earnings, marking a double top break at $194 and an intraday high above $224. The 3 for 5'er still ranks in the bottom half of the business products sector matrix. Continue avoiding for the time being, as the stock sits will into overbought territory and is still rated a hold. Initial support is at $174, with additional support at $170. |
| C Citigroup, Inc. ($126.80) - Banks - C completed a spread triple bottom break at $126. The 4 for 5'er moved down from a 5 at the end of July, after reversing back into Os with its peers. C still maitains a 4/5 TA score, so continue monitoring for further technial deterioration. Initial strong resistance is at $140, with additional resistance at $146. |
| CAT Caterpillar, Inc. ($825.24) - Machinery and Tools - CAT inched higher to complete a double top break at $832, marking its second consecutive buy signal. The 3 for 5'er ranks in the top half of the machinery and tools sector matrix. CAT is still rated a hold, so continue monitoring for further improvement. Initial strong support can be seen at $776. |
| CE Celanese Corporation ($44.26) - Chemicals - CE returned to a sell signal Thursday when it broke a double bottom at $43. Thursday's move adds to an already negative technical picture as CE is a 0 for 5'er that ranks in the bottom half of the chemicals sector matrix. From here, the next level of support sits at $42. |
| GOOGL Alphabet Inc. Class A ($338.47) - Internet - GOOGL moved lower to complete a bearish triangle break at $336. The 3 for 5'er ranks in the bottom half of the internet setor matrix. Although GOOGL has declined notably from its previous highs, it is still rated a hold. For those who are invested, you can continue holding for the time being. Initial resistance is at $352, with additional resistance at $364. |
| HCC Warrior Met Coal Inc ($88.94) - Oil - HCC gave a third consecutive sell signal and fell to a negative trend Thursday when it broke a triple bottom at $164, where it now sits against support. The negative trend change will drop the stock to an unfavorable 2 for 5'er. |
| JNJ Johnson & Johnson ($259.52) - Drugs - JNJ inched lower to complete a bullish signal reversal at $260. The 3 for 5'er ranks in the top third of the drugs sector matrix. Although the stock gave a sell signal, JNJ is still rated a hold. Continue holding for the time being, if invested. Initial strong support can be seen between $248-$252, with additional support between $224-$228. |
| LYV Live Nation Entertainment Inc. ($166.61) - Leisure - LYV broke a spread triple bottom at $166 for a second sell signal since late August. The break follows a negative trend change, which dropped the stock down to a 4 for 5'er in attribute rating. LYV continues to maintain positive short- and long-term relative strength against the market and its peer group and continues to rank within the top half of the Leisure sector matrix. From here, support lies at $160, while additional can be found at $152. |
| MSFT Microsoft Corporation ($515.77) - Software - MSFT inched higher to complete a triple top break at $520, marking its fourth consecutive buy signal. The 4 for 5'er moved up from a 3 in august, after reversing back into Xs against its peers. Additionally, the stock ranks in the top half of the sector matrix rank. Long exposure can be made here, given the weight of the evidence. Initial strong support can be seen between $480-$488, with additional strong support between $376-$380. |
| RIO Rio Tinto PLC (United Kingdom) ADR ($92.77) - Metals Non Ferrous - RIO gave a third consecutive sell signal and fell to a negative trend Thursday. The negative trend change will drop RIO to a 1 for 5'er. From here, the next level of support sits at $89. |
| UNH UnitedHealth Group Incorporated ($364.94) - Healthcare - UNH inched lower to complete a double bottom break at $364, marking its third consecutive sell signal. The 4 for 5'er moved dowm from a 5 in August, after reversing back into Os against its peers. Additionally, the stock ranks in the bottom half of the healthcare sector matrix. Although the technical pictures continues to deterioriate, it still maintains a 4/5 TA score. Continue monitoring for further technical deterioriation. Initial resistance is at $380, with additional strong resistance between $396-$400. |
