Analyst Observations | Nasdaq Dorsey Wright

Comments include: AMR, AVGO, & QCOM.

AMR Alpha Metallurgical Resources Inc. ($176.13) - Oil - AMR returned to a buy signal Tuesday when it broke a double top at $176, where it now sits against resistance. The outlook for the stock remains negative, however, as AMR is a 1 for 5'er and ranks in the bottom half of the oil sector matrix. From here, the first level of support sits at $164.

AVGO Broadcom Ltd ($377.85) - Semiconductors - Shares of AVGO broke a double top at $364, moving back to a buy signal. Today's move also saw the stock return to a positive trend, bringing it up to hold territory as a 3 for 5'er. That said, the stock has been rangebound these last couple month, and AVGO continues to lack near-term relative strength.

QCOM QUALCOMM Incorporated ($180.96) - Semiconductors - QCOM stock fell on Tuesday, breaking a double bottom at $180 for its second consecutive sell signal. Today's move also saw the name move back into a negative trend, moving the company down to sell territory as a 2 for 5'er. Those with exposure could look to sell here. Initial support lies at $172 then $164.

REPORT

DATE