Stocks: The Good, The Bad and The Ugly

Summer vacation

Good morning,

Summer vacation is in full swing but the moves in travel stocks didn’t just start two weeks ago. The most widely predicted recession ever has been pushed out of 2023 but it may not be priced in all the stocks yet. Cruise lines, hotels, and casinos were already ripping, but now airlines are joining the party. Time to get a cold drink in your hand, but you’ll want to be selective when it comes to those beverage stocks.

This week we’re looking at:

• Summer vacation stocks soaring

• Tech stocks I like

• Buy list updates

• Automakers turning up

• and more

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Summer vacation

Carvinal most overbought since 2018

CCL is up 46% since I called out its breakout in these pages a month ago. Tactically it is stretched, with its highest RSI-14 reading since 2018 and within a dollar of its inverse head and shoulders target. But bigger picture, a stock making 52-week absolute and relative highs should be buyable on pullbacks.

Delta breaks the downtrend

Delta is now riding a remarkable 14-day winning streak, the longest in the history of the stock. More technically significant, the stock has broken a 2-and-a-half-year downtrend line and cleared its February highs.

Nothing like a cold Molson Coors product in your hand

TAP has been in the dumpster for a long-time but is now hitting its highest level since 2018. However, at 25% above its 200-DMA, this move may be tactically stretched.

This bud is still not for you

Anheuser-Busch has a bullish MACD cross and is trying to make a stand in recent days. However, the stock ran into the 200-DMA Wednesday and will likely take some time to get back above $60 resistance. Too early to go dumpster diving.

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Tech stocks I like