Analyst Observations | Nasdaq Dorsey Wright

Comments include: DINO, FANG, SBUX, & WDC.

DINO HF Sinclair Corporation ($119.87) - Oil Service - DINO returned to a buy signal and reached a new all-time high Thursday when it broke a double top at $120. Thursday's action adds to an already positive technical picture as DINO is a 5 for 5'er that ranks in the top decile of the oil service sector matrix. From here, the first level of support sits at $104.

FANG Diamondback Energy Inc ($191.80) - Oil - After giving two consecutive sell signals, FANG returned to a buy signal Thursday when it broke a double top at $192. Thursday's move adds to a modestly positive technical picture as FANG is a 3 for 5'er. From here, the next test for the stock is its bearish resistance line at $200.

SBUX Starbucks Corporation ($91.14) - Restaurants - SBUX broke a double bottom at $92 for a second sell signal as shares fell to $88. This break follows the stock moving into a negative trend and will cause the market RS chart to reverse down into Os, dropping the stock down to a 1 for 5'er. The move into the upper $80s puts SBUX in oversold territory, below the bottom of the 10-week trading band. From here, support now lies at $86.

WDC Western Digital Corporation ($393.31) - Computers - Shares of WDC broke a double bottom at $396 for its third consecutive sell signal. The 3 for 5'er has moved consistently lower over the last couple months, with it losing near-term relative strength as well. WDC remains more of a hold for now, but investors should remain very watchful for further weakness given its precarious technical situation. From here, initial support lies at $376.

REPORT

DATE