Select List #20 - December 4, 2022
Stocks Early In Breaking Out - Output from our favorite screen of stocks showing abnormal relative strength
The Select List is the output of one of our favorite market screens. It is comprised of companies that are exhibiting abnormal strength relative to the market and their industry grouping. These names generally have a higher probability of setting up for a further move higher.
Furthermore, the Select List focuses more on newly issued stocks rather than names that have traded for decades, which commonly dominate the weekly post’s chart review.
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Note: This week’s Select List is extremely long. This is the result of broad strength in smaller capitalization stocks in the last weeks and many names are retaking major moving averages. This kind of broad-based strength is encouraging and is also something we require in order to upgrade our overall market rating.
Charts
COMPANY - INDUSTRY - MARKET CAP ($B)
SCHW - The Charles Schwab Corporation - Capital Markets - $153.65B
PDD - Pinduoduo Inc. - Internet Retail - $109.25B
SLB - Schlumberger Limited - Oil & Gas Equipment & Services - $78.09B
SHOP - Shopify Inc. - Software - Application - $52.01B
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