Analyst Observations | Nasdaq Dorsey Wright

Comments include: AAPL, BTU, COLD, & JBT.

AAPL Apple Inc. ($257.07) - Computers - AAPL brought gifts to shareholders Christmas Eve, rising to a new all-time high at $256. The stock maintains a 5 for 5 TA rating and sits in the top quartile of the computers sector RS matrix. The weight of the technical evidence is overwhelmingly positive, however, the stock is trading in overbought territory with an intraday reading north of 100%. Initial support can be seen at $220 with further support at $216.

BTU Peabody Energy Corporation ($20.14) - Oil - BTU fell to a sell signal and a negative trend when it broke a triple bottom at $20 on Tuesday, taking out all remaining support it has found this year. The negative trend change will drop BTU to a 1 for 5'er;

COLD Americold Realty Trust Inc. ($21.12) - Real Estate - Shares of COLD broke a spread triple bottom at $21 for its second consecutive sell signal. The 0 for 5'er has been on a negative trend since last year while holding a market RS sell signal since 2020. COLD is nearing the bottom of its ten-week trading band, meaning there is greater potential for near-term bounce. However, the bulk of its technical picture remains negative, and it should be avoided until it sees significant technical improvement.

JBT John Bean Technologies Corporation ($130.36) - Machinery and Tools - JBT moved higher today to new all-time highs. It now sits on a string of four consecutive buy signals on its default chart. From a relative perspective, the 3/5'er sits just a few boxes away from returning to buy signals against both the market and its peer group. Those looking to be a bit defensive with additional allocation should wait for these attributes to fall into favor. Towards the downside, eye support between $114 and $122.

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