Credo Carries To An All-Time High

New 52-Week Highs led New Lows — 81 vs. 47.

May 30, 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 were split. The Russell 2000 rallied +1%. The Nasdaq Composite dropped -1.08%.

Technology tumbled -2.28%. Real estate and utilities rallied more than +1.3%.

New 52-Week Highs led New Lows — 81 vs. 47.

The Best of the Best

Credo Technology Group ($CRDO) is the best of the best. The high-speed connectivity solutions provider surged +27.05% following its Q4 earnings report.

$CRDO carried to an all-time high.

Here’s the daily chart.

And weekly chart.

Birkenstock ($BIRK) is a notable new high. The 250-year old footwear manufacturer flew 11.66% following its Q2 earnings report. 

$BIRK broke out to an all-time high.

Here’s the daily chart.

Dorian LPG ($LPG) is a notable new high. The liquified petroleum gas shipper ripped +6.40% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

The Worst of the Worst

UiPath ($PATH) is the worst of the worst. The enterprise software company cratered -34.04% following its Q1 earnings report.

$PATH closed at its lowest price since January 2023.

Here’s the daily chart.

And weak weekly chart.

PagerDuty ($PD) is a notable new low. The operations management platform flopped -7.62% following its Q1 earnings report.

$PD dumped to its lowest price since April 2020.

Here’s the daily chart.

And weak weekly chart.

Asana ($ASAN) is a notable new low. The work management platform tumbled -4.92% following its Q1 earnings report.

$ASAN fell to its lowest price since January 2023.

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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