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- First Bancorp Flies To Fresh Highs
First Bancorp Flies To Fresh Highs
Lululemon's New Low
Good evening. Welcome to Trends with No Friends.
We have some business before we dive in...
Trends with No Friends is nearly a year old! To celebrate, we’re cooking up a few new features that I cannot wait to share, but as we continue to grow please send ideas you have as to how we can improve and what additional insights you’d like to see.
Onward…
FOR THOSE JUST JOINING US, HERE’S AN OVERVIEW
Trends With No Friends sifts through the noise and discovers stocks above $1B market cap with high relative strength and low Stocktwits following.
Why is this combination important?
Stocks that are outperforming tend to continue to outperform. Stocks that have a low Stocktwits following are, by definition, undiscovered by the crowd. Stocks that have both Relative Strength and Low Stocktwits Following can really outperform as more investors discover them.
They are ripe to rip.
Markets were mixed. The Nasdaq Composite cratered -0.93%. The Russell 2000 ripped +1.26%.
Energy surged +1.73%. Industrials inched +0.80%. Communications and tech tumbled more than -1%.
New 52-Week Highs led New Lows — 232 vs. 28.
THE BEST OF THE BEST
First Bancorp ($FBNC) is the Best of the Best. The North Carolina-based regional bank rallied +12.23% following its Q2 earnings report.
$FBNC finished at its highest price since December 2022.
Here’s the daily chart.
And weekly chart.
THE WORST OF THE WORST
Lululemon ($LULU) is the Worst of the Worst. The athleisure pioneer plunged -9.09% following a triple downgrade by JP Morgan, Citi and Cowen.
$LULU closed at its lowest price since May 2020.
Here’s the daily chart.
And weak weekly chart.
RILEY’S RECS
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