NTGR, ASND, CHD, FND, A, FSLR, OKTA, OMI, RCL, & WMS
| A Agilent Technologies, Inc ($97.91) - Electronics - After forming a double top at $99, shares of A moved to a sell signal with today’s market action. This sets the chart up for a potential shakeout pattern. From here, the action point of the shakeout would trigger with a reversal up into Xs and the shakeout would complete with a triple top breakout at $100. A is a perfect 5 for 5’er within the favored electronics sector. From here, further support sits at $94. |
| ASND Ascendis Pharma A/S ($147.00) - Biomedics/Genetics - Shares of ASND moved higher Wednesday to break a triple top at $150. This 5 for 5'er moved back to a positive trend in April and has been on an RS buy signal against the market since early-2017. Weekly and monthly momentum also recently flipped positive, suggesting the potential for further upside from here. Initial support may be found at $140, which is also the current location of the bullish support line. Note that earnings are expected on 8/27. |
| CHD Church & Dwight Company ($96.47) - Household Goods - CHD advanced Wednesday to break a triple top at $96, marking a seventh consecutive buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in April and ranks in the top third of the favored household goods sector RS matrix. The stock has also been on an RS buy signal against the market since late-2000. The weight of the technical evidence is positive, however, CHD has entered heavily overbought territory so those looking to add exposure would be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $93, with further support offered at $92. |
| FND Floor & Decor Holdings Inc ($72.27) - Retailing - FND moved higher Wednesday to complete a shakeout pattern with a triple top break at $72. which also marked a new all-time high. This 5 for 5'er moved to a positive trend in May and ranks in the top quartile of the favored retailing sector RS matrix. The technical picture is strong and continues to improve, however, the recent movement has led FND to an intraday weekly overbought/oversold reading north of 80% so those looking to add exposure would be best served to wait for a pullback or normalization of the trading band. Initial support can be found at $65. |
| FSLR First Solar, Inc. ($76.20) - Semiconductors - FSLR completed a bullish triangle pattern with a double top breakout at $77. This stock is a solid 4 for 5’er within the favored semiconductors sector that ranks 2nd out of 64 names in the sector stock matrix. From here, initial support sits at $73, while FSLR faces resistance at $78. |
| NTGR NETGEAR, Inc. ($34.12) - Computers - Shares of NTGR advanced higher on Wednesday, breaking a double top at $34 to give a fourth consecutive buy signal. The 3 for 5'er ranks in the top quartile of the favored computers stock sector matrix and reentered a positive trend just last month, demonstrating favorable relative and absolute strength, respectively. Furthermore, weekly and monthly momentum are now both positive, adding to the favorable technical picture. The weight of the evidence is positive; however, those looking to initiate new long exposure may best wait for a pullback or price normalization as NTGR is approaching heavily overbought territory. Additional bullish confirmation would come with a move past current resistance around $34 while initial support is offered at $29. |
| OKTA Okta Inc ($205.78) - Software - OKTA returned to a buy signal on Wednesday at $208. This stock is a perfect 5 for 5’er within the favored software sector that ranks in the top half of the sector stock matrix. From here, initial support sits at $196 while OKTA faces resistance at $224. Earnings are expected on 8/27. |
| OMI Owens & Minor Incorporated ($17.11) - Healthcare - OMI broke a double top at $17.50, marking a new 52 week high in addition to the stock’s fifth consecutive buy signal. OMI is a perfect 5 for 5’er within the favored healthcare sector that moved back into a positive trend in late July. From here, initial support sits at $13. |
| RCL Royal Caribbean Cruises Ltd. ($61.54) - Leisure - RCL broke a double top at $63 before moving higher to $64 on Wednesday. This marks the second consecutive buy signal for the stock, which just moved back into a positive trend last week. Monthly momentum just flipped positive, suggesting the potential for higher prices and RCL has 3 out of 5 attributes in its favor. Demand is in control. From here, support sits at $56 with resistance at $66. Note RCL offers a yield of 5.17%. |
| WMS Advanced Drainage Systems Inc. ($59.47) - Machinery and Tools - WMS broke a double top at $60 before moving higher to $61. As a result, WMS is now trading at new all-time highs. The chart has given three consecutive buy signals, confirming that demand is in control. WMS is a perfect 5 for 5’er within the machinery and tools sector that has experienced three weeks of positive weekly momentum. Initial support sits at $56. |
