Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Stocks

Seasonality and Positive News Push These Stocks into an Uptrend

by admin June 22, 2024
June 22, 2024
Seasonality and Positive News Push These Stocks into an Uptrend

Last week, the broader market Indices hit another new high on Thursday before pulling back into Friday’s close. Not all areas participated, however, as the recently explosive move into AI stocks ran into trouble later in the week. Instead, many of last week’s top performers were down-and-out stocks that are now in the beginning stages of reversing their downtrends.

Just take a look at the top performers in the Dow Jones Industrial Average, which posted a 1.5% gain for the week vs a flat finish for the Nasdaq. Among the winners were Cisco (CSCO), McDonalds (MCD), and Nike (NKE) which are each trading well below prices from earlier this year. Last week, they averaged gains of 3.5%, yet they still have work to do before regaining their uptrends.

Below are two stocks that are further along in their downtrend reversals; however, one has more positive characteristics that point to further upside, while the other has more work to do. Let’s review.

Daily Chart of MasterCard (MA)

As you can see in the daily chart of MasterCard (MA) above, the stock has closed the week back above its key 50-day simple moving average. The fact that this move above resistance occurred on heavy volume is quite constructive, as it indicates possible institutional sponsorship.

Other positive factors are at play as well, such as the fact that the RSI is now in positive territory. In addition, the seasonality for Mastercard is positive, as the stock has gained in the month of July — 1 week away — each of the last 10 years. However, while the MACD has posted a bullish crossover, with the black line up through the red, it remains in negative territory.

Daily Chart of Hilton (HLT)

Hilton (HLT) is another stock that’s entering a seasonally strong period. The stock began its downtrend reversal in mid-June, with the RSI turning positive as the stock closed above its 50-day moving average. In addition, the MACD turned positive at the same time, which provided further confirmation. Perhaps most important, however, is that Hilton announced an expansion plan that will double the number of their “lifestyle” hotels over the next four years.

The expected growth pushed the stock higher so that, last week, HLT entered a strong buy zone after breaking out of an 11-week base on volume. Also highlighted above is the early May downtrend reversal attempt, which was not confirmed by a positive MACD, nor was there positive news regarding growth prospects.

While much of my work involves spotting high growth stocks that are advancing toward base breakouts, downtrend reversals, such as Hilton (HLT) above, play a key part as well. Vertex (VRTX) is a prime example, as the stock was added to my Suggested Holdings List in early May as it began a new uptrend amid news of a new non-addictive pain medication.

A move above key resistance that’s confirmed by a positive RSI and MACD, coupled with bullish corporate news, can yield some top performers. While Mastercard (MA) is interesting, the stock still has work to do before gaining my confidence.

If you’d like to be alerted to top stocks poised to trade higher, use this link here to trial my twice weekly MEM Edge Report. You’ll also be kept on top of broader market conditions as well as sector rotation into newer areas of the market. Use the link above to see what others are raving about!

Warmly,

Mary Ellen McGonagle, MEM Investment Research

0
FacebookTwitterGoogle +Pinterest
previous post
Analyze This: Will the Dow Will Soar or Crash in 2024?
next post
4 Ways To ENHANCE The Moving Averages On Your Charts

Related Posts

This is the Group to Watch for the...

April 19, 2025

My Downside Target for the S&P 500

March 9, 2025

It’s Been a Long Time Mr Bear, Where...

August 3, 2024

Top 10 Stock Charts For May 2025: Breakouts,...

May 2, 2025

The Bottom is Here or Rapidly Approaching

April 14, 2025

The NASDAQ 100, On The Brink Of A...

June 22, 2025

S&P 500 Under Pressure, Can Strong Seasonality Save...

November 3, 2024

Strategy After Rate Cuts: Best Areas to BUY!

September 21, 2024

How to Buy WINNERS When They Pull Back!

December 14, 2024

AI Stocks and Their Impact on the Stock...

January 29, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Lagging Mid-cap ETF Hits Moment of Truth

      June 24, 2025
    • The Best Five Sectors, #24

      June 24, 2025
    • This Week’s Earnings Watch: Turnarounds and Momentum Plays

      June 24, 2025
    • AI Stocks Ignite Again—Where Smart Money is Heading Next

      June 24, 2025
    • Iran retaliates with missile attack on US base in Qatar, Pentagon reports no casualties

      June 24, 2025

    Categories

    • Business (994)
    • Investing (2,452)
    • Politics (3,047)
    • Stocks (1,091)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved