In 2024, SIA practitioners noticed a notable rebound in Chinese equities, with stocks like Qifu Technologies (QFIN) emerging as strong performers in the SIA International ADR Index Report. While the broader Chinese sector remains largely unfavored in SIA’s ETF and mutual fund reports, early leaders like QFIN have posted impressive gains, with YTD growth surpassing 100%. With key resistance levels at $37.39 and $35.24, the next phase of this rally will be closely watched.
PACCAR Inc. (PCAR) experienced a healthy period of consolidation after a strong rise from $50 to $125 per share, allowing the stock to reset before continuing its upward momentum. Following this pullback, the stock has found support at $90.48 and has moved back up the relative strength matrix, now positioned at #26 in the SIA NASDAQ 100 Index Report. With improving technical indicators reflecting heightened investor expectations for strong company or sector growth, PACCAR appears well-positioned to continue benefiting from trends in the auto and trucking sectors.
Yesterday was a great day for stock watchers, as substantial moves were in play, offering valuable insights. Much like a card player who inadvertently reveals their hand, the market exposed key information about potential next steps for both asset classes and sectors. If you asked 50 people what the big move was yesterday, many would point to the banks, but steelmakers and the auto industry also saw big moves, signaling potential opportunities for investors. In this Equity Leaders Weekly, we’ve built a custom steel manufacturing matrix to analyze the best stocks in this sector.
Palantir Technologies Inc. (PLTR) is a leader in big data analytics, providing solutions used by governments, defense agencies, and private organizations to solve complex challenges. In terms of relative strength, PLTR has consistently outperformed its peers, holding a top position in recent SIA reports. The stock has shown strong support at key levels, and its perfect SMAX score of 10/10 further highlights PLTR’s dominance, not only against its peers in the SIA’s Russell 1000 & S&P 500 Index Reports but also relative to other asset classes.
As the SIA Drug Sector continues to show mixed performance, two neutral-zone stocks—Gilead Sciences (GILD) and AbbVie Inc. (ABBV)—are emerging as potential leaders. Gilead has recently climbed 10 spots in the SIA S&P 100 Index, driven by strong quarterly gains, while AbbVie’s impressive year-to-date performance reflects its resilience in a challenging market. Both stocks have demonstrated solid relative strength, positioning them as names to watch as we move into 2025.
Tesla Inc. (TSLA), a leading American automotive and clean energy company, has experienced significant volatility in its share prices, peaking over $400 in 2022 before retreating to $100 in early 2023. Currently, shares are stabilizing around $250, while the company remains a favored stock on the SIA platform, ranking highly across various reports. The Point and Figure chart reveals critical support and resistance levels, highlighting the importance of trend lines and the potential for price reversion.
Having spent the week analyzing the energy sector, we conclude that it is not the optimal area for investment. However, we want to highlight Secure Energy Services, a leading company in waste management and energy infrastructure with strong performance metrics. Its shares have shown impressive growth, ranking #1 in the S&P/TSX Capped Energy Index and achieving a year-to-date performance of 68.73%.
Our takeaway from a week of review is that infrastructure plays a crucial role in outperforming within the energy sector, making Secure an important player to consider. For a comprehensive discussion of our findings and how they can enhance your portfolio management decisions, please reach out to your SIA account manager today.
This week, we are focusing on bisecting the energy trade, starting with Exxon Mobil as a proxy for big oil, then examining Weatherford for the service industry, and identifying outperformers like Targa Resources and TC Energy Corp in the Pipeline and Infrastructure sector. Today, we will explore the Bullish Percent Index (BPI), which provides insights into money flows and serves as a key tool for elite investment advisors. Using bullish percents alongside technical analysis enhances our understanding of the market, much like recognizing shifts in bullish signals is essential for spotting opportunities—akin to timing a leap as a cliff diver in Hawaii.
In this report, we assess the pipeline and infrastructure sub-sector of the energy industry, focusing on TC Energy Corporation. Recently, TC Energy has demonstrated impressive performance, rising significantly in the SIA S&P/TSX 60 Large Cap Index and delivering strong year-to-date gains. We will also conduct a technical review, examining key resistance levels and relative strength compared to peers, to highlight the technical factors driving its growth potential in the current market landscape.
Weatherford International PLC (WFRD), with a market capitalization of $5.79 billion, is experiencing significant deterioration in relative strength, shifting from a favored position to deep within the unfavored zone of the S&P Mid Cap 400 Index. As the company faces increasing resistance and weak crude oil prices, it serves as a cautionary proxy in the oil services sector, signaling the need for investors to seek stronger opportunities. This trend highlights a broader concern within the oil and gas market, warranting careful scrutiny.
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