Trade of the Week
Seasonal Stock Setup: Staples Leader Bull Flagging into Strong March
General Mills (GIS) – GIS is a $41.6B consumer goods name in the heart of the value sector theme that has been strong during the past several months. The stock is very low beta so maybe a bit boring but trending higher with stacked EMA’s as the price action is...
Seasonal Stock Setup: Small Cap Energy Name Poised to Trend Higher
Range Resources (RRC) – RRC is a $4.6B small cap natural gas name that is showing a strong trend breaking out of a recent down trend after it cleared the 21 level post earnings last week. This as we head into March which has been a strong standout calendar month for...
ETF Sector Relative Strength Corner: Defense Sector Just Starting Weekly Breakout
iShares U.S. Aerospace & Defense ETF (ITA) - The defense group has been a clear place to be the past week with geopolitical tensions and war escalation. Looking at the ITA it appears the trend move is just getting underway from a weekly chart timeframe. The weekly...
Credit Spread of the Week: Social Name Beaten up into Key Long Term Volume Support
Twitter (TWTR) - The tech correction has put a lot of stocks into longer term support zones based on volume profile nodes of interest and TWTR specifically has fallen from nearly 70 just in October to as low as 32 this past week. The low 30s in TWTR represent solid...
Seasonal Stock Setup: Medical Device Name Holding Trend into Strong Calendar Month
Baxter Int’l (BAX) – Baxter is a $43.2B med tech name in the healthcare space that focuses on products treating kidney disease and other chronic medical conditions. The stock trades 19x earnings and has held up well in this volatile 2022 market. BAX is mostly...
Seasonal Stock Setup: Communications Leader Poised in Uptrend into Strong March
Verizon (VZ) – Verizon is a $223B telecom leader that is showing one of the stronger stable uptrends since the end of last year. The stock also has positive seasonality going into March with 7 of the last 10 years higher and 14 of the last 20 years showing upside in...
Seasonal Stock Setup: Staples Safety Bid Persisting into March
Conagra (CAG) – Conagra is a $16.9B low beta consumer staple that has seen positive money flows in 2022 with the safety bid present in the markets. CAG is up 5% YTD and heading into its strongest calendar month of the year which is March. Over the last 10 years, CAG...
ETF Sector Relative Strength Corner: Global Travel Jetting Higher into Spring
U.S. Global Jets ETF (JETS) - The airlines have been outperforming the broad market nicely since the start of the year even with crude oil rising. The travel reopening theme is strong and likely to continue into Spring as mandates are lifted and travel numbers...
Bullish Open Interest in Leading Casino Name Back at Key Volume Support
MGM Resorts (MGM) shares pulling back from recent highs and into notable volume support at $43 as well as a key VWAP level with confluence from the recent extremes at the November highs and December lows. MGM is in a broader weekly bull wedge under recent highs at $51...
Credit Spread of the Week: Oversold Restaurant Leader to Rebound Into Reopening Theme
Starbucks (SBUX) - The discretionary and restaurant names have been sold off recently with commodity prices higher but with the travel and leisure theme a hot one it likely helps a key name like SBUX now nearly back to longer term support. Anything travel and...