Today's featured stock is Best Buy Co., Inc (BBY).
Long Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| CENTA | Central Garden & Pet Company | Household Goods | $37.10 | mid-to-hi 30s | 48 | 31 | 4 for 5'er, favored HOUS sector, LT pos peer RS, spread quad top, buy on pullback |
| ASC | Ardmore Shipping Corporation | Transports/Non Air | $18.87 | 17 - 19 | 24 | 15.50 | 5 for 5'er, top 20% of favored TRAN sector matrix, triple top, good R-R, 7.5% yield, Earn. 11/4 |
| CSTL | Castle Biosciences, Inc. | Biomedics/Genetics | $33.13 | 32 - 35 | 63.50 | 28 | 4 for 5'er, top 10% of favored BIOM sector matrix, multiple buy signals, pos trend flip, R-R~4.0, Earn. 11/5 |
| ACT | Enact Holdings Inc | Finance | $46.84 | low-to-mid 40s | 69 | 37 | 5 for 5'er, top 25% of FINA sector matrix, LT pos trend & mkt RS, triple top, heavily oversold, Earn. 11/4 |
| ELF | Elf Beauty Inc | Household Goods | $114.74 | 98 - 110 | 123 | 90 | 5 for 5'er since Aug., ranked 1st in Hous. Goods matrix, pos. trend, Earn. 11/4 |
| NVDA | NVIDIA Corporation | Semiconductors | $216.47 | 220 - 240 | 300 | 204 | 4 for 5'er, top third of Semis matrix, pos. ST Mkt and Peer RS, ATH on 10/2, Earn. 11/17 |
| SN | SharkNinja, Inc. | Household Goods | $198.72 | hi 170s - 180s | 222 | 156 | 5 for 5'er, top 10% of HOUS sector matrix, multiple buy signals, Earn. 11/4 |
| URBN | Urban Outfitters, Inc. | Retailing | $87.32 | 79 - 85 | 99 | 71 | 4 for 5'er w/recent pos. trend change, Pos. LT Mkt. and Peer RS, Top quartile of Retail matrix, Matched ATH on 10/13. |
| ASH | Ashland Inc. | Chemicals | $71.69 | hi 60s - mid 70s | 86 | 62 | 5 for 5'er, top 10% of CHEM sector matrix, RS buy signal, bearish signal reversal, 2.4% yield, Earn. 11/3 |
| SWK | Stanley Black & Decker, Inc. | Machinery and Tools | $94.09 | hi 80s - mid 90s | 111 | 75 | 4 for 5'er., top 20% of MACH sector matrix, quad top, 3.6% yield Earn. 11/4 |
| WDAY | Workday Inc. | Software | $203.98 | low 190s to hi 200s | 230 | 178 | 4 for 5'er, Top half of SOFT sector matrix, Pos. LT Mkt. RS, Pos. Trend. |
| BBY | Best Buy Co., Inc. | Retailing | $93.89 | low-to-mid $90s | 119 | 76 | 4 for 5'er, top 20% of RETA sector matrix, one box from market RS buy signal, 4.2% yield |
Short Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| BABA | Alibaba Group Holding Ltd (China) ADR | Retailing | $108.61 | (100 - mid-110) | 84 | 126 | 2 for 5'er, Bottom third of Retail matrix, Neg. Trend, Mkt. and Peer RS charts near reversal into Os. |
Removed Ideas
| Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
|---|---|---|---|---|---|---|---|
| AME | Ametek Inc | Electronics | $247.36 | mid 230s - mid 250s | 342 | 204 | Removed for earnings. Earn. 11/3 |
| MTCH | Match Group, Inc. | Leisure | $46.55 | low-to-mid 40s | 55 | 36 | MTCH has moved into heavily overbought territory. OK to hold here. Raise stop to $38Earn. 11/2 |
Follow-Up Comments
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NDW Spotlight Stock
BBY Best Buy Co., Inc. R ($94.34) - Retailing - BBY is a 4 for 5'er that ranks in the top quintile of the retailing sector matrix and sits one box away from giving a market RS buy signal for the first time since 2022, which would promote it to a 5 for 5'er. After falling to a sell signal earlier this month, BBY successfully tested its bullish support line and returned to a buy signal last week with a double top break at $90. Long exposure may be added in the low-to-mid $90s and we will set our initial stop at $76 a potential spread triple bottom break on BBY's default chart. We will use the bullish price objective, $119, as our target price. BBY also carries a 4.2% yield.
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