Comments include: ANET, ASML, AU, CSCO, EGO, GEV, META, MRK, & WHD.
| ANET Arista Networks Inc ($171.29) - Telephone - Shares of ANET declined sharply on Thursday, breaking a triple bottom to move to a sell signal, in addition to losing its near-term market relative strength. This follows the stock moving into a negative trend earlier this month, so ANET is no loner the relative strength leader it once was, even if it could potentially be held for now. |
| ASML ASML Holding NV ADR ($1,560.54) - Semiconductors - Shares of ASML fell with the rest of the tech sector, breaking a double bottom at $1568 while also moving to a negative trend for the first time in over a year. Today's move also saw it lose its near-term market relative strength, bringing it down into sell territory as a 2 for 5'er. Those with positions could look to sell here or on a reversal out of slightly oversold territory. |
| AU AngloGold Ashanti Limited (South Africa) ADR ($84.88) - Precious Metals - AU gave a fourth consecutive sell signal and fell to a negative trend Thursday when it broke a double bottom $88. The negative trend change will drop AU to an unfavorable 2 for 5'er. From here, AU shows no further support until $74. |
| CSCO Cisco Systems, Inc. ($105.14) - Computers - Shares of CSCO moved lower, breaking a double bottom at $104 for its second consecutive sell signal. The stocks also lost its near-term relative strength, leaving it in hold territory as a 3 for 5'er. Those with positions should continue to hold while new investors should wait for improvement before looking to buy. Previous resistance at $94 could serve as future support, with the bullish support line also at $90. |
| EGO Eldorado Gold Corporation ($32.75) - Precious Metals - EGO gave a second consecutive sell and fell to a negative trend Thusday when it broke a double bottom at $33. The negative trend change will drop EGO to a an unfavorable 2 for 5'er. From here, the next level of support sits at $28. |
| GEV GE Vernova Inc. ($819.96) - Utilities/Electricity - GEV broke a quintuple bottom at $864 to return to a sell signal as shares fell to $816. The move violates the bullish support line, which will drop the stock down to a 2 for 5'er trading in a negative trend and only maintaining positive relative strength against its peers within utilities. From here, support lies at current chart levels, while additional can be found at $784. |
| META Meta Platform Inc. ($643.19) - Internet - META closed the day near 8% lower struggling after earnings on 10/21. With the move, the stock reversed lower and posted its second consecutive sell signal before moving past the middle of its respective trading band on its default chart. It is a 3/5'er, but it is likely that it will return to a column of O's against SPXEWI and push it into a technical "sell" territory. From here, a trip to the bullish support line is not out of the question at $816. Keep a close eye on the name alongside its other more tech focused options as we close October. |
| MRK Merck & Co., Inc. ($149.48) - Drugs - MRK inched higher to complete a quadruple top break at $154. The 5 for 5'er has maintained an RS buy signal against its peers since 2018. Additionally, the stock ranks in the top quartile of the drugs sector matrix. Long exposure can be made here. Initial support is at $144, with additional support at $140. |
| WHD Cactus, Inc. Class A ($61.05) - Oil Service - WHD gave a third consecutive sell signal and fell to a negative trend Thursday when it broke a triple bottom at $60. The negative trend change will drop the stock to a 3 for 5'er. From here, the next level of support on WHD's chart sits at $52. |
