HOLX, EPAY, SPSC, ABC, BRKS, DXCM, ISRG, MGP, NOW, & ODFL
| ABC AmerisourceBergen Corporation ($94.03) - Drugs - ABC broke a spread triple top at $93 before moving higher to $95, returning the chart to a buy signal and a positive trend. As a result, this stock is now a 4 for 5’er within the favored drugs sector. From here, initial support is offered at $82. Note ABC offers a yield of 1.79%. |
| BRKS Brooks Automation Inc ($40.15) - Semiconductors - BRKS completed a bullish triangle pattern with a double top break at $41. This stock is a solid 4 for 5’er that ranks in the top quartile of the favored semiconductors sector RS matrix. Today’s break marks the second consecutive buy signal on the chart, confirming that demand is in control. From here, initial support is offered at $37. |
| DXCM Dexcom Inc. ($399.58) - Healthcare - After forming a double top at $424, shares of DXCM fell to give a sell signal with today’s market action, setting the chart up for a potential shakeout pattern. From here, the action point of the shakeout would be triggered with a reversal up into Xs and the shakeout would officially complete with a triple top break at $432. Overall, this stock is a perfect 5 for 5’er that ranks in the top decile of the favored healthcare sector RS matrix. Okay to play the pattern on the reversal or upon completion. |
| EPAY Bottomline Technologies Inc. ($50.88) - Software - EPAY gave a fourth consecutive buy signal on Wednesday with a double top break at $48, and later continued higher to $50. The 4 for 5’er ranks in the top half of the favored software stock sector matrix and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since August of 2017. Furthermore, EPAY recently returned to a positive trend on May 7th. The weight of the evidence is positive; however, those looking to initiate new long exposure may best wait for a pullback as the stock is nearing overbought territory. The next level of resistance can be found at $54 while initial support is offered at $40. |
| HOLX Hologic Incorporated ($54.17) - Healthcare - Shares of HOLX broke a triple top at $54 on Wednesday to give a second consecutive buy signal. The 4 for 5’er ranks in the top decile of the favored healthcare stock sector matrix and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since January of 2015. In addition, the stock reentered a positive trend on April 30th. The weight of the evidence is positive; however, those looking to initiate new long exposure may consider HOLX on a pullback as the stock is approaching overbought territory at the top of its trading band. The next level of resistance resides at $55, HOLX’s all-time high, while initial support can be found at $50. |
| ISRG Intuitive Surgical, Inc. ($551.02) - Healthcare - ISRG broke a double top at $552 on Wednesday, marking the fourth consecutive buy signal on the chart. This stock is a strong 5 for 5’er within the favored healthcare sector. ISRG has maintained a market RS buy signal since January 2016 and moved into a positive trend back in mid-April. From here, initial support is offered at $504. |
| MGP MGM Growth Properties Limited Liability ($26.43) - Real Estate - MGP broke a triple top at $26 on Wednesday, a move that flipped the trend back to positive for the first time since late February. As a result, this stock is now a 4 for 5’er that ranks in the top quartile of the favored real estate sector. From here, initial support now sits at $21. Note MGP offers a yield of 7.19%. |
| NOW Servicenow Inc ($387.10) - Software - NOW broke a double top at $392 and is now trading at new all-time highs. This recent breakout also marked the fourth consecutive buy signal on the chart, confirming that demand is in control. NOW is a 4 for 5 ‘er that has maintained a market RS buy signal since September 2013. Demand is in control. Note that NOW is nearing overbought territory. From here, initial support sits at $352. |
| ODFL Old Dominion Freight Line, Inc. ($154.92) - Transports/Non Air - ODFL broke a double top at $158 and is now trading at new all-time highs. This stock is a perfect 5 for 5’er that ranks in the top quartile of the transports/non air sector RS matrix. In addition, today’s break marks the third consecutive buy signal, confirming that demand is in control. Monthly momentum just flipped positive, suggesting the potential for higher prices. From here, initial support sits at $146. |
| SPSC SPS Commerce Inc ($61.63) - Software - Shares of SPSC completed a bullish catapult on Wednesday with a double top break at $61, resulting in a fourth consecutive buy signal. The 5 for 5’er ranks in the top third of the favored software stock sector matrix and demonstrates positive long-term relative strength versus the market, remaining on an RS buy signal since August of 2018. Furthermore, SPSC recently reentered a positive trend on April 27th and is actionable from an Overbought/Oversold (OBOS) perspective. The weight of the evidence is positive and those looking to initiate new long exposure may consider SPSC at current levels. The next level of resistance resides at $62, the stock’s all-time high, while initial support is offered at $55. |
