This post is a quick update on a name in the Consumer Goods’ space that we’ve been watching for a breakout, as well as two other names worth putting on your radar.
Two Uncorrelated Trades With “High” Potential
From the desk of Tom Bruni @BruniCharting
With our upside price objectives being met across in Equity markets across the globe, we’ve shifted our focus to buying Bonds and selling Emerging Market stocks with the expectation of a choppy environment for stocks as an asset class over the coming weeks and months.
With that said, just because the indexes may be choppy there will be winners and losers that we can take advantage of long and short.
In light of that, today we’re reiterating our view on two pot stocks we outlined weeks ago that are still actionable and uncorrelated with the broader market.
[Chart of The Week] Are Small-Caps Following Mid-Caps’ Beaten Path?
From the desk of Tom Bruni @BruniCharting
One of my favorite tasks each week is putting together our “Top 10 Charts” of the week report for Institutional Clients.
This week was very macro and intermarket focused, but one stood out as particularly interesting so I wanted to pass it along.
Nifty Energy Index Makes New Relative Lows
In our last post, we wrote about two stocks we wanted to be avoided as they’re showing relative weakness.
Today our attention turns to the Energy Sector which is making 1-year lows relative to the Nifty 500. Let’s take a look.
Calling All Canadian Investors
From the desk of Tom Bruni @BruniCharting
Given our expectation of a choppy market environment over the coming weeks and months, we’re focusing on areas of relative strength/weakness.
Canadian Telecom stocks are hitting new all-time highs on an absolute basis, presenting some new trading opportunities on the long side.
Mystery Chart (01-28-2020)
From the desk of Tom Bruni @BruniCharting
New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
Two Stocks We’re Avoiding
In this quick post, we’re looking at two widely-followed stocks that we want to be avoiding, each for their own, but similar reasons.
Let’s get into it.
Chemicals > Mining In Toxic Materials’ Space
From the desk of Tom Bruni @BruniCharting
Thank you to everyone who responded to this week’s mystery chart.
No mixed opinions this week, almost everyone saw the pullback into support as a successful breakout retest and was a buyer.
With that as our backdrop, let’s take a look at this week’s chart. [Read more…]
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