MakeMyTrip Travels To An All-Time High

New 52-Week Highs led New Lows — 289 vs. 4.

May 15, 2024

Good evening. 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 above $1B market cap 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.

Stocks climbed.

The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average advanced to an all-time high.

Every sector closed higher. Technology gained +2.25%. Real estate, utilities and healthcare carried approx. +1.5%.

New 52-Week Highs led New Lows — 289 vs. 4.

The Best of the Best

MakeMyTrip ($MMYT) is the best of the best. The Indian travel company travelled +10.83% following its Q4 earnings report.

$MMYT marched to an all-time high.

Here’s the daily chart.

And monster monthly chart.

Core & Main ($CNM) is a notable new high. The water & wastewater product supplier surged +3.97% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

Agilysys ($AGYS) is a notable new high. The hospitality Point-of-Sale software provider popped +4.36% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

The Worst of the Worst

Shoals Technologies Group ($SHLS) is the worst of the worst. The solar component provider plunged -3.41% and closed at an all-time low.

Here’s the daily chart.

And weak weekly chart.

52-Week Highs

52-Week Lows

Riley’s Recommendations

Here are a few sweet links curated by Riley…

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