Comments include: ADI, ALGT, MTDR, NFLX, TOL, & TRGP.
| ADI Analog Devices, Inc. ($372.10) - Semiconductors - Shares of ADI continue to be extremely rangebound, with recent action seeing the stock move back into sell signal with a double bottom break at $380. ADI remains a hold as a 3 for 5'er, trading in a positive trend for over a year. That said, the stock is nearing its bullish support line at $364, below which it would flip into a negative trend. |
| ALGT Allegiant Travel Company ($82.19) - Aerospace Airline - ALGT broke a double bottom at $84 to complete a bearish catapult as shares fell to $82. The breakdown follows the stock seeing its peer RS chart shift into a column of Os earlier this month along with a negative trend flip on the trend chart, which brought the stock down to a 2 for 5'er. From here, support lies at $80, while additional can be found at $70. |
| MTDR Matador Resources Company ($57.24) - Oil - After giving three consecutive sell signals, MTDR returned to a buy signal and a positive trend Tuesday when it broke a quadruple top at $57. The outlook for the stock remains negative, however, as even with the positive trend change, MTDR is an unfavorable 2 for 5'er. MTDR now faces overhead resistance at $62. Meanwhile, support can be found at $46. |
| NFLX NetFlix Inc. ($78.38) - Media - NFLX returned to a buy signal today, but don't get too excited. The media giant still trades well off highs and earns 0 of 5 technical attributes at the time of this writing. There isn't really any resistance on our default chart for quit e a ways, but as the path of least resistance looks to be lower we shouldn't be pointing towards that as a reason to jump in yet. |
| TOL Toll Brothers, Inc. ($142.75) - Building - TOL broke a quadruple bottom at $144 for a second sell signal as shares fell to $142. The breakdown violates the bullish support line, which will drop the stock down to a 3 for 5'er, and bring the market RS chart to within one box of reversal down into a column of Os. From here, support now lies in the $138 to $140 range, while additional can be found at $124. |
| TRGP Targa Resources Corp. ($297.77) - Oil Service - After falling to a sell signal earlier this month, TRGP found support at $256 for the third time since May. From there, the stock rallied and returned to a buy signal in today's trading when it broke a double top at $292, marking a new all-time high. TRGP continued higher to $304 and now sits on the verge of heavily overbought territory. Tuesday's move adds to an already positive technical picture as TRGP is a 5 for 5'er that ranks in the top quartile of the oil service sector matrix. |
