Forget 'FAANG' growth stocks, one technical analyst touts 'BAANG' stocks for a new, scarier era

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

A group of gold miners stocks 'BAANG' are better plays than mega-cap FAANG names, according to John Roque, technical analyst at Wolfe Research.

— are better plays than mega-cap FAANG names as they might have reached their peaks and started losing steam." on Monday. These gold miners are "much like gold. So gold has broken out but it's still down way from its highs in the 1900 thereabouts and we think both gold and those stocks have more room."

Gold is trading above $1,400 for the first time since 2013 and it is up more than 12% year-to-date. The metal's strength is backed by safe-haven buying amid geopolitical uncertainties as well as the Federal Reserve's openness to rate cuts this year. The BAANG stocks are up a whopping 42% since May 10, the analyst said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Bitcoin 🌍

Targeting capital gains should only be the begininng. CNBC and their tax reporter us paid heavily to keep the tax cuts going for the mega tich. Sickening scumbags

What happened to WANG

It’s actually TANG

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysts urge caution as stocks on Shanghai's new Nasdaq-style tech board surgeThe first tranche of companies on China's latest Nasdaq-style tech board started trading on Monday, with all the stocks seeing strong gains on their public debut, though some are cautioning against jumping headlong into the action.
Source: CNBC - 🏆 12. / 72 Read more »

Analysts love these 5 stocks ahead of their earnings reportsCNBC combed through Wall Street research to see which stocks analysts like into earnings season.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks Surge on China’s New Nasdaq-Like MarketChina’s new market for homegrown technology companies opened with a bang, with stocks doubling, tripling or more than quadrupling in value on its first day. They must have low R&D costs with all that stolen technology they use If no IP protection, market of the damned. DOOMED! On arrête pas le progrès. Merci. C'est noté.
Source: WSJ - 🏆 98. / 63 Read more »

Asia stocks fall on likely smaller Fed rate cut, crude climbsAsia stocks fell on Monday as investors scaled back expectations of an aggressiv... Nothing to do with China's banking.😮
Source: Reuters - 🏆 2. / 97 Read more »

Europe stocks gain, oil jumps on Middle East tensionsEnergy stocks booked the largest gains in Europe after crude oil prices jumped at least $1 per barrel, on concern that Iran's seizure of a British tanker last week may lead to disruptions in the Middle East.
Source: trtworld - 🏆 101. / 63 Read more »