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Powell Propels To An All-Time High

Powell Propels To An All-Time High

New 52-Week Highs led New Lows — 115 vs. 37.

May 27, 2024

Happy Memorial Day! 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.

Friday, stocks snapped back.

Every major index inched higher. The Nasdaq Composite and Russell 2000 carried more than +1%.

Communications, consumer discretionary and utilities advanced more than +1%. Healthcare was the only negative sector.

New 52-Week Highs led New Lows — 115 vs. 37.

The Best of the Best

Powell Industries ($POWL) is the best of the best. The electrical infrastructure equipment manufacturer surged +8.95% and closed at an all-time high.

Here’s the daily chart.

And monster monthly chart.

$POWL has 656 followers on Stocktwits.

Deckers Brands ($DECK) is a notable new high. The footwear conglomerate flew +14.18% after it reported Q4 earnings.

$DECK dashed to an all-time high.

Here’s the daily chart.

And weekly chart.

$DECK has 2,718 followers on Stocktwits.

Construction Partners ($ROAD) is a notable new high. The roadway construction company rallied +5.01% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

$ROAD has 567 followers on Stocktwits.

The Worst of the Worst

Exact Sciences Corp. ($EXAS) is the worst of the worst. The cancer screening and diagnostics company dipped -7.84% and closed at its lowest price since January 2023.

Here’s the daily chart.