Stock Trends
Abounding opportunities
Good morning,
The title of this week’s Monday Morning Playbook was “Opportunities abound”, so it only makes sense that today, we look at some of those abounding opportunities.
I’ve started to regularly include the “first ones out”, or stocks that just missed the Hot List, at the end of each official monthly update, so we’ll start by providing a bit more context to some of the charts featured last week.
We’ll also review:
Real estate
Healthcare
Industrials
Hot List updates
and more!
Comments on “The first ones out”
ANET: Arista Networks
Can’t win them all. It’s always nitpicking when it gets down to the final round of cuts, and my discomfort with the AI/semi trade was enough to keep ANET off. But the stock broke out yesterday with an 8.8% gain, and the chart says the move could just be getting started.
MTCH: Match Group
Match Group is on the verge of completing a two-and-a-half-year bottoming pattern. A close above $40 targets $53.
TFX: Teleflex
A big bottoming base in the healthcare sector, a breakout above $140 targets $180.
TOST: Toast
I mentioned an affinity for Toast’s business in our recent Mailtime report, and I do think this chart is bottoming. But, a stock below the 200-DMA is never going to be the higher probability bet and that’s why it was filtered out. The stock is finding the 200-day and H&S neckline as resistance this week; watch to see if $28 can hold today, otherwise a trip back to the 50-DMA could be in store.
Real estate
Welltower and Simon Property Group are two relative strength leaders
Welltower has been going straight up and to the right for nearly four years.
SPG (our REIT representative for the S&B 20 Cyclicals basket) isn’t far behind, hitting its first all-time high since 2016 on Tuesday 👇
Now, that’s a big base.
