Comments include: AMGN, BJRI, FANG, LYB, MAR, & SCCO.
| AMGN Amgen Inc. ($360.83) - Biomedics/Genetics - AMGN reversed down and completed a double bottom break at $356. The 2 for 5'er ranks near the bottom of the biomedics/genetics sector matrix. A sell can be considered here, given the weight of the evidence. Initial support is at $336, with additional strong support at $324. |
| BJRI BJ's Restaurants Inc. ($62.42) - Restaurants - BJRI broke a double top at $63 for a fourth buy signal since April and to mark a multi-year high. The stock has been a 5 for 5'er since mid June and currently ranks 2nd (out of 26) within the Restaurants sector matrix. Okay to consider on a pullback on the chart in the $59 to $60 range. Initial support lies at $58, while additional can be found at $53. |
| FANG Diamondback Energy Inc ($191.60) - Oil - After giving three consecutive sell signals, FANG returned to a buy signal Monday when it broke a double top at $190 and continued higher to $192, where it now sits one box below its bearish resistance line. The outlook for the stock remains negative as FANG is a 1 for 5'er. From here, support sits at $172, a level from which FANG has rallied twice since April. |
| LYB LyondellBasell Industries NV ($58.32) - Chemicals - LYB gave an initial buy signal Monday when it broke a double top at $58. The outlook for the stock remains decidedly negative, however, as it is a 0 for 5'er. From here, initial support sits at $54, while overhead resistance sits at $64. |
| MAR Marriott International, Inc. ($366.95) - Leisure - MAR broke a double bottom at $364 for a second sell signal since peaking above $400 back in June. The stock continues to maintain a 5 technical attribute rating and ranks within the top half of the Leisure sector matrix. From here, a move below $360 would penetrate the bullish support line and flip the trend to negative. Beyond the bullish support line, additional support can be found at $348 and in the $310 to $320 range. |
| SCCO Southern Copper Corporation ($174.53) - Metals Non Ferrous - After giving two consecutive sell signals, SCCO returned to a buy signal Monday when it broke a double top at $178, where it now sits against resistance. The outlook for the stock remains unfavorable as it is a 1 for 5'er. From here, initial support can be found at $162. |
