Zoom Zoomed To An All-Time Low

New 52-Week Lows led New Highs — 64 vs. 50.

June 13, 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.

The Nasdaq Composite and S&P 500 closed at another all-time high. The Russell 2000 tumbled -0.88%.

Tech advanced +0.79%. Real estate rallied +0.50%. Energy, communications and industrials fell more than -0.60%.

New 52-Week Lows led New Highs — 64 vs. 50.

The Worst of the Worst

Unity Software ($U) is the worst of the worst. The video game software developer stumbled -6.31% and closed at an all-time low.

Here’s the daily chart.

And weak weekly chart.

Zoom Video ($ZM) is a notable new low. The virtual communications software developer dipped -4.26% and closed at an all-time low.

Here’s the daily chart.

And monthly chart.

Asana ($ASAN) is a notable new low. The work productivity platform plunged -7.13% and closed at its lowest price since January 2023.

Here’s the daily chart.

And weak weekly chart.

The Best of the Best

Korn Ferry ($KFY) is the best of the best. The consultant company carried +10.82% following its Q4 earnings report.

$KFY closed at its highest price since January 2022.

Here’s the daily chart.

And weekly chart.

NAPCO Security Technologies ($NSSC) is a notable new high. The security products provider popped +2.04% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

Arista Networks ($ANET) is a notable new high. The $100B cloud network provider propelled +6.53% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

52-Week Lows

52-Week Highs

Riley’s Recommendations

Here are a few sweet links curated by Riley…

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