Analyst Observations | Nasdaq Dorsey Wright

Comments include: BOOT, DKS, MTRN, & VET.

BOOT Boot Barn Holdings Inc ($145.30) - Retailing - BOOT broke a double bottom at $146 for a third sell signal since mid-August. BOOT fell to a 2 for 5'er after shifting into a negative trend in late August, and has continued to maintain negative near-term relative strength against the market and its peer group. From here, support lies at $144, the July 2026 chart low, while the May chart low resides at $138.

DKS Dick's Sporting Goods, Inc. ($133.36) - Retailing - DKS returned to a sell signal by breaking a double bottom at $130. This action follows the fall from the $180s to $120s in late August, which brought DKS to its lowest level since 2023 and led to the stock falling to a 0 TA rating after seeing the peer RS chart give a sell signal. Avoid for now.

MTRN Materion Corp. ($252.49) - Chemicals - MTRN returned to a buy signal Wednesday with a double top break at $260. The move adds to a moderately positive technical outlook as MTRN is a 3 for 5'er and ranks near the top of the favored chemicals sector matrix. From here, overhead resistance sits at $300, while the first level of support can be found at $228.

VET Vermilion Energy Inc ($13.45) - Oil - VET returned to a buy signal Wednesday when it broke a double top at $13.50, where it now sits against resistance. Wednesday's move adds to a modestly positive technical picture as VET is a 3 for 5'er. From here, the first level of support sits at $9.

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