Relative Strength Leaders
For once things bottom..
I wanted to get one more (quick) post out of the door before I sign off..
Based on the relative strength last few sessions, I wanted to share few names that may do well based on their recent strength compared to the general market. In general, I wanna see S&P500 and Nasdaq stop bleeding before any of these can really shine. Don’t like to see 1-2% down days on the main index and expect these to rally. So, this is sort of my shopping list for now.
Here we go, in no particular order:
AAPL: tried as we could, we could not unseat AAPL from that 160 handle. I think as long as 154-157 holds on this stock, this goes way higher (after general market stops sucking 🙄)
PFE: Again, I do not understand what they have in the pipeline that makes them tick, but they did a good job holding that 51 dollar price tag, despite being so near to resistance. LIS is 47, targets 62.
BAC: The King 👑 of American Banks IMO. Now 47, held on it’s own during this ongoing softness in S&P500.
PSTG: the crown 👸 princess of “no profit, but some sales stocks” mid-caps for me. Now trading 27 dollars. Close to resistance but has good structure.
LCID: I think if TSLA stumbles (Musk is really showing some off-kilter behaviors and his stock tracks a lot to his tweets. And Bitcoin) , Lucid benefits. Now 53 bucks with my LIS below dollars.
PLUG: Two factors are tailwind for this name: the Biden Clean Energy push and more importantly the high short float. Now 42. Void below 38-39.
MU: cheaper cousin of AMD and NVDA. My original play at 70, now 85.
SAVA: remains under a pernicious short seller attack. If 48 holds , they may overcome the sellers. Now 52 bucks.
V: this is the payment processor I like most between PYPL and MA. There’s fear that AMZN may disrupt the payment space. However these networks take decades to build. Even if AMZN created their own V, I still think V at 198 holds value.
Let me know what you think of these and if there are any you want to add to the mix?
As always, take some time off , relax and rejuvenate. Happy Thanksgiving 🍁🦃🍽 and Holidays.
~ Tic
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Happy Thanksgiving and TY for your effort within these newsletter's, very unique view.
Hi tic, thanks for sharing your list. I’ve been trading LCID since $18 during the CIV SPAC merger speculation days. I see it going back to ATH’s within the next few weeks if not sooner. Great options play as of late, but I’m concerned about a potential offering and the timing of it. Looking for your thoughts on how LCID may play out within next 3 months. I have some thoughts, but looking for an objective point of view. Thanks!