Charles has an uncanny way of targeting the most salient points from those notes and then discussing them on the air with his guests so his viewers can learn and benefit.He then picked out one stock out of the several I had sent him-Symbotic .StagflationCharles began our segment asking me about why I call this the new “transitory.”That sector has been underperforming.
The second point Charles asked about is why I think transportation through the lens of IYT is flashing warning., the TSI peaked in 2020 but is far from flashing recession which would we begin to see if the indicator breaks below 130 or Covid lows.The chart of IYT shows how the price failed to take out the weekly highs though did manage to close up on the week.Real Motion shows a bearish divergence with momentum under the 200-DMA while price sits slightly above it.
The initial reaction was a significant gap higher in price. However, those gains were eliminated by the end of the week.Zacks rating is that the company will perform in line with the overall market. And I believe that is true as how the economy fares will impact their bottom line.What strikes me about this chart is that the price dropped precipitously below the 50 and 200-DMAs.
Otherwise, we will consider $42 as a key pivotal area to watch if this turns out to be a bit of an overcorrection.Scan QR code to install app
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »