Upticks – Newton’s Law
Upticks Additions
- Cintas (CTAS -0.94% - $221.76)
- Deckers Outdoors (DECK -2.35% - $192.15)
- Salesforce.com (CRM -2.71% - $342.02)
- Palo Alto Networks (PANW -3.91% - $383.36)
- Progressive Corp. (PGR -0.55% - $266.06)
- Consolidated Energy (CEIX- $131.73)
- Carpenter Technology (CRS -6.16% - $190.97)
- Hubspot (HUBS -2.88% - $742.16)
Upticks Deletions
- Alphabet (GOOGL -2.75% – $164.76)
- Freeport McMoran (FCX -5.06% - $43.72)
- Hovnanian Enterprises (HOV -4.25% - $181.74)
- Transdigm Group (TDG -1.71% - $1,260.32)
UPTICKS Total Return vs. SPY, since inception
Upticks One Month Contribution to Performance (October 22 to November 22)
Upticks Additions Commentary
Cintas (CTAS -0.94% -$221.76)
Lengthy symmetrical uptrend with little variability.
Despite being overbought, no evidence of trend failure.
Weekly DeMark exhaustion still quite premature.
Very attractive sector.
*Prices are as of 11/22 close.
Deckers Outdoors (DECK -2.35% -$192.15)
Just broke out back to new all-time highs this past week after a lengthy five-month base.
Ranked #2 performer YTD out of 51 members of Consumer Discretionary’s XLY -2.63% ETF, with returns of +72.58% through 11/22/24.
Consistently has shown heavier volume on gains vs. losses and remains a leader within its sector.
Salesforce.com (CRM -2.71% -$342.02)
Just exceeded highs of a multi-year Cup and Handle pattern going back since late 2021.
Ranked #9 out of 27 members of the S&P Software and Software Svcs. Index with returns of +52.59% through 11/22/24.
Wave structure suggests a push up to test and exceed early November highs which could lead to 372 before consolidation.
Palo Alto Networks (PANW -3.91% -$383.36)
Recent breakout back to new all-time highs above February 2024 should help to jumpstart its momentum.
PANW remains a leader within the Cybersecurity space.
Two straight weeks of minor weakness following its breakout makes this an attractive risk/reward.
Progressive (PGR -0.55% -$266.06)
Parabolic upward shift in PGR’s uptrend last year remains intact, with no evidence of wavering.
This past week’s push back to new highs above the peak of the prior three weeks should help to set a path towards $280.
One of the strongest names within the entire Insurance sector, and quite technically attractive.
Consolidated Energy (CEIX-$131.73)
Most attractive Coal-mining stock technically, and the breakout back to new all-time highs earlier this month keeps the uptrend pushing higher.
Volume was supportive of the breakout back to new highs.
While overbought, any upcoming weakness should find strong support near $114, which is an excellent risk/reward.
Carpenter Technology (CRS -6.16% -$190.97)
Up ~250% just since February 2024, and growing increasingly more parabolic.
This Metals fabrication stock is the most technically attractive of this top sub-sector.
While overbought, CRS has shown little signs of turning down and
Recent quarterly earnings of +94% with a bump in guidance gives fundamental confidence in this technically strong name.
Hubspot (HUBS -2.88% -$742.61)
Early November breakout back to new all-time highs keeps this quite attractive.
Recent acceleration looks likely to test larger channel resistance near $807 before consolidating.
Pullbacks from overbought levels would make this quite appealing into mid-December.
