Comments include: DELL, DOW, DQ, FIVE, GOLF, LW, PANW, QCOM, RGLD, SYY, TSLA, & USFD.
| DELL Dell Technologies Inc Class C ($161.12) - Computers - DELL pushed higher Monday to break a double top at $160, returning the stock to a buy signal. This 4 for 5'er moved to a positive trend in April and sits in the top quartile of the favored computers sector RS matrix. The technical picture is favorable and improving. Initial support can be seen at $146 and $142. |
| DOW Dow, Inc. ($25.85) - Chemicals - DOW returned to a buy signal Monday when it broke a double top at $26. The technical picture for the stock remains decidedly negative, however, as DOW is a 0 for 5'er that ranks in the bottom quintile of the chemicals sector matrix. From here, overhead resistance sits at $30, meanwhile support can be found at $21. |
| DQ Daqo New Energy Corp. ($29.60) - Chemicals - DQ returned to a buy signal Monday when it broke a double top at $29. Monday's move adds to a positive technical picture as DQ is a 4 for 5'er that ranks in the top quartile of the chemicals sector matrix. From here, overhead resistance sits at $31, DQ's all-time high. Meanwhile, support can be found at $24. |
| FIVE Five Below Inc ($160.75) - Retailing - FIVE broke a double top at $160 for a second buy signal as shares rallied to $168. 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 towward the middle of the 10-week trading band. Initial support lies at $152, while additional may be found at $138. |
| GOLF Acushnet Holdings Corp ($81.94) - Leisure - GOLF broke a triple top at $83 for a second buy signal. The stock is a 5 for 5'er that ranks in the top half of the Leisure sector matrix and is accompanied by a yield north of 1%. Okay to consider here on the breakout or on a pullback to $80. Note the stock's prior high at $84 from July this year. Initial support lies at $78, while additional can be found in the mid $70s. |
| LW Lamb Weston Holdings Inc ($66.31) - Food Beverages/Soap - Shares of LW broke a double top at $67 for its second consecutive buy signal. The stock returned to a positive trend earlier this month, bringing it back to acceptable territory as a 3 for 5’er. However, the stock still lacks long-term relative strength, keeping it as a hold for now. From here, resistance lies at $68 then $83. |
| PANW Palo Alto Networks Inc ($219.56) - Software - PANW pushed higher to break a double top at $220, notching a fourth consecutive buy signal and a new all-time high. This 4 for 5'er moved to a positive trend in September and sits in the top quartile of the favored software sector RS matrix. The weight of the technical evidence is strong and continues to improve. Initial support can be seen at $204 and $198. Earnings are expected on 11/20. |
| QCOM QUALCOMM Incorporated ($187.27) - Semiconductors - QCOM shot higher Monday, breaking a double top at $176 before reaching $204 intraday. This moves the stock close to reversing up into a column of Xs against the market, which would improve it to a 3 for 5 TA rating. Keep an eye on further improvement. While the technical picture is improving, the stock is now extended. Initial support can be seen at $154. Earnings are expected on 11/5. |
| RGLD Royal Gold Inc ($178.56) - Precious Metals - RGLD gave a second consecutive sell signal and fell to a negative trend on Monday. The negative trend change will drop the stock to an unfavorable 2 for 5'er. From here, the next level of support on RGLD's chart sits at $168. Earnings are expected on 11/5. |
| SYY Sysco Corporation ($77.24) - Food Beverages/Soap - Shares of SYY broke a double bottom at $77 for its second consecutive sell signal. Today also saw the stock flip its trend back to negative, bringing it down to a 1 for 5’er. The stock remains one to avoid given its lack of relative strength but could move on earnings tomorrow. From here, support lies at $76 then $71. |
| TSLA Tesla Inc. ($459.46) - Autos and Parts - TSLA broke a triple top at $456 to return to a buy signal. The stock is a 5 for 5'er that ranks 2nd (out of 53) in the Autos and Parts setor matrix. Okay to consider here on the breakout. Nore prior rallies highs at $464. Initial support lies at $416, while prior resistance in the $360 range range may be seen as long-term support. |
| USFD US Foods Holding Corp. ($74.03) - Food Beverages/Soap - Shares of USFD moved lower Monday for its fourth consecutive sell signal. The 5 for 5’er continues to trade in a positive trend while maintaining its peer and market relative strength for now, making it one to keep owning for the time being. From here, previous resistance in the low $70s could serve as future bounce points with the bullish support line next at $67. |
