Tuesday 25 June 2024

Flight To Safety… or Tech Recovery?

there’s opportunity either way
 
   
     
   
 
JUNE 25, 2024
   
TUCCI'S TWO CENTS
Flight To Safety… or Tech Recovery?
 

Yesterday, I wrote to you about the slump in the market we saw as investors pulled their funds out of high-growth tech (especially Nvidia) and poured it into Safety stocks in the energy, utilities, and real estate sectors…

Many traders (myself included) thought we could be seeing another sector rotation as we saw back in April when investors pulled funds from high-growth areas and moved funds into safety stocks.

Now, we still could be seeing a flight to safety happening… But the markets have been quite odd today…
 
5 Tickers To Trade This Week!

Two top trading pros have scanned the markets top to bottom…

And they’ve picked these 5 specific tickers as the top earnings plays you need to know about!

Earnings are coming in hot and fast… don’t miss out on these hot tickers!!


Click here to get the tickers now!
SCOTT WELSH’S TICKER TALES
Be Wasteful (WM)
 

Starting back in November, Waste Management (WM) has gone on a big run. 

And what do big breakout traders love to see most after a bullish move?

Sideways action. 

The sequence of big move, sideways channel, big move has been the favorite of famous traders for decades.

And we’re seeing that in WM. 

Here’s the chart:

 
 

The stock has been surging the past few weeks and it’s almost at a breakout point.

A break above $214.54 could lead to another nice run. 

We’ll keep an eye on it.


Happy trading,
— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
   
 

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