ATI Advanced To A 13-Year High

New 52-Week Highs led New Lows — 68 vs. 26.

April 30, 2024

Good afternoon. 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 finished lower. The Russell 2000 and Nasdaq Composite tumbled more than -2%.

Every sector settled negative. Energy, consumer discretionary and tech stumbled more than -2%. Healthcare finished flat.

New 52-Week Highs led New Lows — 68 vs. 26.

The Best of the Best

ATI Corp ($ATI) is the best of the best. The specialty metal manufacturer marched +15% following its Q1 earnings report.

The stock settled at a 13-year high.

Here’s the daily chart.

And monster monthly chart.

$ATI has 1,435 followers on Stocktwits.

Loar Holdings ($LOAR) is a notable new high. The new issue aerospace and defense company advanced +4.95% and closed at an all-time high.

The stock is up +16.27% since Thursday’s opening print.

Here’s the daily chart.

$LOAR has 6 followers on Stocktwits.

Leidos Holdings ($LDOS) is a notable new high. The defense and intelligence service provider propelled +6.53% following its Q1 earnings release.

$LDOS lept to an all-time high.

Here’s the daily chart.

And monster monthly chart.

$LDOS has 1,738 followers on Stocktwits.

The Worst of the Worst

Coursera ($COUR) is the worst of the worst. The online learning platform fell -14.05% following its Q1 earnings report.

$COUR closed less than 3% above its all-time low.

Here’s the daily chart.

And weak weekly chart.

$COUR has 1,722 followers on Stocktwits.

Sirius XM ($SIRI) is a notable new low. The satellite radio service stumbled -7.26% following its Q1 earnings report.

Here’s the daily chart.

And weak weekly chart.

$SIRI has 20,001 followers on Stocktwits.

Warner Bros. Discovery ($WBD) is a notable new low. The entertainment company cratered -9.69% as NBCUniversal bids $2.5B/year to air NBA games, knocking out WBD’s TNT.

Here’s the daily chart.