BAC, C, TOL, ADDYY, GEV, VST, FMC, SMCI, & INTU.
| ADDYY Adidas Group (Germany) ADR ($126.41) - Leisure - ADDY reversed into Xs and broke a double top at $126 for a third buy signal since February. This also marks a new 52-week high for the 4 for 5'er. ADDYY maintains positive near-term RS against the market and its peer group while maintaining long-term positive RS against the market. Okay to consider on a pullback to $120. Initial support lies at $118, while additional can be found at $104 and $95, the bullish support line. |
| BAC Bank of America ($38.90) - Banks - BAC shares moved higher today to break a double top at $39 to mark its second consecutive buy signal. This 4 for 5'er has been in a positive trend since March but on an RS sell signal versus the market since March 2023. BAC shares are trading above the middle of their trading band with a weekly overbought/oversold reading of 36%. From here, support is offered at $35. |
| C Citigroup, Inc. ($63.80) - Banks - C shares moved higher today to break a double top at $64 to mark its fourth consecutive buy signal. This 3 for 5'er has been in a positive trend since December but has been on an RS sell signal versus the market since March 2020. C shares are trading above the middle of their trading band with a weekly ovebought/oversold reading of 37%. From here, support is offered at $57. |
| FMC FMC Corporation ($63.92) - Chemicals - FMC fell to a sell signal on Wednesday when it broke a double bottom at $64. Wednesday's move adds weight to an already negative technical picture as FMC is a 2 for 5'er that has been trading in a negative trend for more than year. From here, the next level of support sits at $56. |
| GEV GE Vernova Inc. ($168.08) - Utilities/Electricity - GEV reversed into Xs and broke a double top at $172 to return to a buy signal and match the rally high from earlier this month. GEV is a 3 for 5'er that maintains a positive trend on its default chart and positive near-term RS against the market and its peer group. GVE resides in overbought territory, so those seeking exposure may look for consolidation at current price levels before considering. Initial support lies at $160, while additional can be found at $150. |
| INTU Intuit Inc. ($655.13) - Software - INTU pushed higher Wednesday to break a double top at $648 before moving to $656 intraday. This also led the stock to move back to a positive trend, improving it to a 5 for 5 TA rating. INTU has maintained an RS buy signal against the market since 2008 and sits in the top third of the software sector RS matrix. Weekly momentum also just flipped positive, suggesting the potential for further upside from here. The weight of the technical evidence is favorable and continues to improve. Initial support can be seen at $608 with further support at $600. Note that earnings are expected on 5/23. |
| SMCI Super Micro Computer, Inc. ($952.36) - Computers - SMCI moved higher Wednesday to break a double top at $848 before moving to $944 intraday. This 3 for 5'er is showing further near-term technical improvement while ascending from its April low of $672 to the current position just beneath its 50-day moving average. The stock has continued to maintain favorable relative strength against the market from a longer-term perspective. Initial support can be seen at $768 with further support at $704 and $672. Further overhead resistance is seen around $1008 with the potential for stronger resistance at $1056. |
| TOL Toll Brothers, Inc. ($134.48) - Building - TOL broke a double top at $130 to return to a buy signal as the stock rallied to a new high at $134. The stock is a 5 for 5'er and ranks 8th (out of 66) in the Building sector matrix. Okay to consider here on the breakout or on a pullback into the upper-$120s. Initial support lies at $112, while additional can be found at $99 and $96. |
| VST Vistra Corp ($96.60) - Utilities/Electricity - VST reversed into Xs and broke a double top at $97 for a new all-time chart high. This is the second buy signal since mid-April for this 5 for 5'er. VST ranks 1st (out of 47) in the Electric Utilities sector matrix, and weekly momentum has flipped back positive. Short-term holders may seek to lock in profits. Those seeking long-term exposure to wait for consolidation at current price levels before considering. Initial support lies at $88. |
