Stock Trends

Opportunities are everywhere

Good morning,

Last week was our Blue Chip Hot List update, so we didn’t get to cover the momentum crash from a bottom-up stock perspective.

However, the takeaway, as our top-down Monday Morning Playbook highlighted, is bullish. There are still great-looking growth stocks but opportunities across the cap and style spectrum are picking up.

Today, we’ll start with some of the aggressive high-flyers that still look good (and one I would take profits in) but also review:

• 2 top regional banks stocks

• Nuclear plays

• Hot List updates

• Completed bottoms in homebuilders

• and more!

---

High flyers

SoFi through our target, time to take profits

I first highlighted SoFi in “Stocks on my watch list” on June 12 and suggested the January highs at $18 were in play. Well, SoFi got there in a hurry, getting as high as $20.89 on Tuesday. But the stock printed an ugly reversal candle and if you were in for the 30%+ gain, I would consider taking some off the table.

Rocket Lab continues to pay

Rocket Lab is another high-flyer we’ve been bullish on but hasn’t officially made its way to the Hot List. The stock continues to drift higher, hitting a new all-time high on Tuesday. The further away from the base it gets, the less attractive the risk/reward for new money, but for investors that have been in since the first feature on April 24 at $20, stay long.

Unity Software back on the radar

It’s been a long time since I’ve charted this name (it went public in the middle of the post-Covid bubble) but Unity Software is showing short-term momentum with long-term potential. The stock is on the verge of completing an inverse head and shoulders pattern that targets $40. The February intraday highs at $30.88 are the level that needs to be breached.

Bullish descending wedge for CoreWeave