Analyst Observations | Nasdaq Dorsey Wright

Comments include: APP, SPHR, VLO, & YUM.

APP AppLovin Corp. Class A ($320.34) - Software - APP continued its descent, completing a second consecutive sell signal. The 0 for 5'er moved into a negative trend and lost all of its relative strength this summer, bringing it firmly into sell territory. That said, the stock is in heavily oversold territory, so those with exposure should wait before selling just yet.

SPHR Sphere Entertainment Co. ($164.33) - Leisure - SPHR broke a double top at $166 for a third buy signal since the latter stages of July. The stock is a 4 for 5'er that ranks within the top half of the Leisure sector matrix. Okay to consider here on the breakout or on a pullback to the upper $150s. Note the June chart high at $174. Initial support lies at $156, while additional can be found at $142 and $134.

VLO Valero Energy Corp ($323.01) - Oil Service - VLO returned to a buy signal Tuesday when it broke a double top at $316 and continued higher reaching a new all-time high at $324. Tuesday's move adds to an already positive technical picture as VLO is a 5 for 5'er. However, the stock now sits in heavily overbought territory with a weekly OBOS reading approaching 90%. From here, the first level of support sits at $292.

YUM Yum! Brands, Inc. ($144.32) - Restaurants - YUM moved lower to complete a spread triple bottom break at $144, marking its second consecutive sell signal. The 1 for 5'er ranks in the bottom half of the restaurants sector. A sell can be considered here. Initial strong resistance can be seen at $166 with additional resistance at $170.

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