BTIG says S&P 500 will be stuck in a range, but thinks these stocks can outperform

📆 23/07/2024 17:32:00
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Jonathan Krinsky, chief market technician at BTIG, said the broader index's recent choppy moves are likely to continue.

The S & P 500 may be due for a pullback, but some individual names could be relative outperformers, according to BTIG. Wall Street has been in for a bumpy ride as of late. Last week, the S & P 500 dropped nearly 2% in its worst week since April, as investors rotated out of megacap tech leaders and into smaller names. On Monday, however, the benchmark experienced its best day in more than a month thanks to a tech rebound.

SPX 1M mountain S & P 500 in past month What to buy Against this backdrop, the strategist identified 12 stocks that can see relative outperformance during this choppy period — regardless of how the broad market index fares. "These are names that are in good uptrends, and very close to their 52-week highs," Krinsky wrote. "Whether or not the market correction has further to go, these names should outperform over coming months.

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