ADSK, BRBR, CARG, CR, EXPE, GDDY, LYV, RCL, SCCO, SHOP, TDW
| ADSK Autodesk, Inc. ($310.73) - Software - ADSK returned to a buy signal Tuesday with a double top break a $312. This 5 for 5'er moved to a positive trend in July and sits in the top half of the favored software sector RS matrix. The weight of the technical evidence is favorable and improving once again. Initial support can be seen at $280, with further overhead resistance seen at $324. Note that earnings are expected on 2/26. |
| BRBR BellRing Brands Inc. ($78.30) - Food Beverages/Soap - Shares of BRBR broke a double top during Tuesday’s trading for its third consecutive buy signal, in addition to setting new all-time highs. The 5 for 5’er has been in a positive trend and on a market RS buy signal since 2022, and it continues to look strong from an absolute and relative strength perspective. From here, support lies at $70 and $65, with additional support further below at $49. |
| CARG CarGurus, Inc. Class A ($40.31) - Retailing - CARG broke a double top at $40 for a fourth consecutive buy signal since November 2023 and to mark a 52-week high. The stock is a 5 for 5'er that ranks within the top quintile of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to $37 on the chart. Initial support lies at $35, while prior resistance $26 may be seen as an additional level of support. |
| CR Crane Company ($176.30) - Electronics - CR pushed higher Tuesday after their earnings release to break a double top at $166 before rising to $176 intraday. This 3 for 5'er moved to a positive trend in October 2023 and has now given two consecutive buy signals. The weight of the technical evidence is favorable and continues to improve. Initial support can be seen at $156 with further support offered at $150, the current location of the bullish support line. |
| EXPE Expedia Group Inc. ($171.80) - Leisure - EXPE broke a double bottom at $168 to complete a bearish catapult. This action follows shares rallying to new highs in the lower $190s in December. The stock remains a 4 for 5'er and continues to rank within the top third of the Leisure sector matrix. From here, support for EXPE lies at $154 and in the $142 to $144 range. |
| GDDY GoDaddy Inc. ($212.96) - Internet - GDDY pushed higher Tuesday to break a double top at $212, notching a 13th buy signal and a new all-time high. This 5 for 5'er moved to a positive trend in September and sits in the top half of the favored internet sector RS matrix. The weight of the technical picture is robust and continues to improve. Initial support can be seen at $190. Note that earnings are expected on 2/13. |
| LYV Live Nation Entertainment Inc. ($143.02) - Leisure - LYV broke a double top at $142 for a second buy signal and to mark a new all-time chart high. The stock is a 4 for 5'er that ranks within the top quartile of the Leisure sector matrix and weekly momentum has flipped back positive, suggesting the potential for price appreciation in the near-term. Okay to consider here on the breakout or on a pullback toward the middle of the 10-week trading band at $134. Initial support lies at $128, while prior resistance around the $100 level may be seen as additional support. |
| RCL Royal Caribbean Cruises Ltd. ($264.06) - Leisure - RCL reversed into Xs and broke a double top at $252 for a second buy signal as shares rallied to new highs at $268. The stock is a 5 for 5'er that ranks 5th (out of 59) in the Leisure sector matrix. Okay to consider on a pullback in the $240 to $260 range. Initial support lies in the $224 to $228 range. |
| SCCO Southern Copper Corporation ($90.52) - Metals Non Ferrous - SCCO fell to a sell signal on Tuesday when it broke a triple bottom after unsuccessfully testing its bearish resistance line. The stock now sits against long-term support at $91, a level from which it has rallied on two prior occasions since August of last year. The technical outlook for SCCO is unfavorable - the stock is a 2 for 5'er after falling to a market RS signal violating its trend line last month. Earnings are expected on 1/31. |
| SHOP Shopify Inc ($116.87) - Retailing - SHOP broke a double top at $116 to return to a buy signal. The stock is a 5 fro 5'er that ranks within the top quintile of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to the middle of the 10-week trading band. Intiail support lies at $100, while prior resistance in the low $80s may been seen as additional support. |
| TDW Tidewater Inc ($53.26) - Oil Service - TDW fell to a sell signal Tuesday when it broke a double bottom at $53, where it now sits against support. The move adds to an already negative technical picture as TDW is a 2 for 5'er that ranks 66th of 67 names in the oil service sector matrix. From here, overhead resistance sits at $57. TDW is expected to report earnings on 2/26. |
