Loar Flies To An All-Time High

New 52-Week Highs led New Lows — 132 vs. 30.

May 22, 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 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 stalled. Every major index inched lower.

Technology, healthcare, communications and industrials were the only positive sectors. Energy stumbled -1.92%. Utilities, consumer discretionary, basic materials and real estate lost approx. -1%.

New 52-Week Highs led New Lows — 132 vs. 30.

The Best of the Best

Loar Holdings ($LOAR) is the best of the best. The new issue aerospace and defense company advanced +6.72%.

Here’s the daily chart.

$LOAR has 25 followers on Stocktwits.

Brady Corp ($BRC) is a notable new high. The security identity solutions provider propelled +11.37% following its Q3 earnings report.

$BRC broke out to an all-time high.

Here’s the daily chart.

And weekly chart.

$BRC has 225 followers on Stocktwits.

Flex Ltd. ($FLEX) is a notable new high. The Singaporean manufacturing services provider marched +5.45% and closed at its highest price since September 2000.

Here’s the daily chart.

And monster monthly chart.

$FLEX has 2,297 followers on Stocktwits.

The Worst of the Worst

Lululemon ($LULU) is the worst of the worst. The athleisure apparel manufacturer fell -7.23% following the resignation of its chief product officer.

$LULU closed at its lowest price since March 2023.

Here’s the daily chart.