$PI Popped To An All-Time High

New 52-Week Lows led New Highs — 52 vs. 48.

April 25, 2024

Happy Friday Jr. Welcome to Trends with No Friends.

For those just joining us, here’s an overview…

Trends With No Friends sifts through the noise and discovers stocks with high relative strength and low social following.

Why is this combination important?

Stocks that are outperforming tend to continue to outperform. Stocks that have a low social following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Social Following can really outperform as more investors discover them.

They are ripe to rip.

Every major index inched lower. The Dow dipped -0.98%.

Communications cratered -3.56%. Basic materials marched +0.71%.

New 52-Week Lows led New Highs — 52 vs. 48.

The Worst of the Worst

QuantumScape ($QS) is the worst of the worst. The EV battery company unplugged -6.93% after its Q1 earnings flop.

The company closed $0.01 above its all-time low.

Here’s the daily chart.

And weak weekly chart.

Bristol-Myers Squibb ($BMY) is a notable new low. The biopharmaceutical fell -8.51% following its Q1 earnings report.

The company closed at its lowest price since July 2019.

Here’s the daily chart.

And monthly chart.

Ginkgo Bioworks ($DNA) is a notable new low. The biotech tumbled -8.05% and closed at an all-time low.

Here’s the disastrous daily chart.

And the weak weekly chart.

The Best of the Best

Impinj ($PI) is the best of the best. The RFID company carried +28.65% after its Q1 earnings beat and increased guidance.

$PI popped to an all-time high.

Here’s the daily chart.

And weekly chart.

Kirby ($KEX) is a notable new high. The tank barge operator bounced +10.99% after its Q1 earnings report.

Here’s the daily chart.

And monster monthly chart.

First Citizens Bancshares ($FCNCA) is a notable new high. The regional bank ripped +9.80% after its Q1 earnings beat.

First Citizens flew to an all-time high.

Here’s the daily chart.

And monster monthly chart.

52-Week Lows

52-Week Highs

Riley’s Recommendations

Here are a few sweet links curated by Riley…

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