Teladoc Dips To 8-Year Low

New 52-Week Lows led New Highs — 44 vs. 37.

June 09, 2024

Happy Sunday. 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 Friday. The S&P 500 stumbled -0.11%. The Russell 2000 tumbled -1.12%.

Financials, tech, healthcare and industrials inched higher. Utilities and basic materials fell -1%.

New 52-Week Lows led New Highs — 44 vs. 37.

The Worst of the Worst

Teladoc Health ($TDOC) is the worst of the worst. The telehealth provider dipped -3.54% and closed at its lowest price since May 2016.

Here’s the daily chart.

And weak weekly chart.

Unity Software ($U) is a notable new low. The video game software developer dropped -4.22% and closed at an all-time low.

Here’s the daily chart.

And weak weekly chart.

SolarEdge Technologies ($SEDG) is a notable new low. The solar stock stumbled -4.20% and closed at its lowest price since May 2019.

Here’s the daily chart.

And weak weekly chart.

The Best of the Best

Argan ($AGX) is the best of the best. The construction company carried +10.43% following its Q1 earnings report.

$AGX advanced to an all-time high.

Here’s the daily chart.

And monster monthly chart.

CarGurus ($CARG) is a notable new high. The online automotive marketplace advanced +4.05% and closed at its highest price since June 2022.

Here’s the daily chart.

And weekly chart.

Credo Technology ($CRDO) is a notable new high. The high-speed connectivity solutions provider surged +5.07% 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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