Boot Barn's Breakout

New 52-Week Highs led New Lows — 48 vs. 47.

June 04, 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.

It was a muted day in the market. The Dow, Nasdaq Composite and S&P 500 inched higher. The Russell 2000 tumbled -1.25%.

Real estate and consumer staples rallied approx. 0.90%. Energy and basic materials stumbled approx. -1%.

New 52-Week Highs led New Lows — 48 vs. 47.

The Best of the Best

Boot Barn ($BOOT) is the best of the best. The western retailer rallied +4.48% and closed within 1.60% of an all-time high.

Here’s the daily chart.

And weekly chart.

DT Midstream ($DTM) is a notable new high. The natural gas pipeline provider propelled +1.60% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

Heico ($HEI) is a notable new high. The aerospace and defense electronic equipment manufacturer marched +2.75% and closed at an all-time high.

Here’s the daily chart.

And weekly chart.

The Worst of the Worst

Sirius XM ($SIRI) is the worst of the worst. The satellite radio provider stumbled -6.50% and closed at its lowest price since October 2012.

Here’s the daily chart.

And weak weekly chart.

Five9 ($FIVN) is a notable new low. The call center software provider fell -4.11% and closed at its lowest price since January 2019.

Here’s the daily chart.

And weak weekly chart.

Teladoc Health ($TDOC) is a notable new low. The telehealth provider tumbled -1.9% and closed at its lowest price since May 2016.

$TDOC is within 15% of its 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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