Comments include: GLP, GOLF, JACK, KLAC, KRC, & TJX.
| GLP Global L.P. ($50.80) - Oil Service - GLP returned to a buy signal and a positive trend Wednesday when it broke a double top at $51. The outlook for the stock remains negative, however, as even with the positive trend change, GLP is a weak 1 for 5'er. From here, the next level of overhead resistance sits at $53. |
| GOLF Acushnet Holdings Corp ($90.63) - Leisure - GOLF broke a double bottom at $90 for a second sell signal since peaking at $118. The move penetrates the bullish support line and will shift the trend to negative, dropping the stock down to a 2 for 5'er. The trend reversal was preceded by the market and peer RS charts reversing down into Os during last week's trading. From here, support lies at $87, while the May chart low sits at $85. |
| JACK Jack in the Box, Inc. ($18.69) - Restaurants - JACK broke a double top at $19 for a second buy signal. The stock improved to a 5 for 5'er in recent weeks following a positive trend reversal and a reversal back into Xs on the market RS chart. Okay to consider here on the breakout. Note resistance at $23. Initial support lies at $17, while the bullish support line resides at $14.50. |
| KLAC KLA Corp ($208.25) - Semiconductors - After a sharp pullback in July, shares of KLAC are showing signs of life again. The stock previously moved into a negative trend and lost near-term relative strength, placing it in sell territory as a 2 for 5'er. That said, the stock just completed its third consecutive buy signals with a double top break at $208. While the stock is still a low attribute name, it might be worth watching for signs of sustained improvement. |
| KRC Kilroy Realty Corp ($36.48) - Real Estate - KRC fell Wednesday to break a double bottom at $36, marking a second consecutive sell signal. This 2 for 5'er moved to a negative trend in February and sits in the bottom half of the unfavored real estate sector RS matrix. The weight of the evidence is weak and deteriorating. Avoid long exposure. Further support is not seen until $28 with overhead resistance potentially seen at $40. |
| TJX The TJX Companies, Inc. ($152.85) - Retailing - TX broke a double bottom at $154 for a second sell signal since peaking at $170 in June. Shares are now testing the bullish support line, which would be violated with a move below $152. From here, additional support resides in the $146 to $150 range. Note earnings are upcoming on 8/19. |
