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PHINIA Finds an All-Time High

PHINIA Finds an All-Time High

New 52-Week Highs led New Lows — 173 vs. 9.

Riley Rosebee
April 01, 2024

Happy Monday.

For those just joining us, here’s an overview…

We launched this publication to help investors sift through the noise and discover stocks with high relative strength and a low social following.

Why is relative strength relevant?

Markets trend. Stocks that have outperformed are likely to continue their outperformance.

Why is a low social following important?

Peter Lynch once shared, “If you find a stock with little or no institutional ownership, you’ve found a potential winner. Find a company that no analyst has ever visited, or that no analyst would admit to knowing about, and you’ve got a double winner.”

Lynch invested in an era where Wall Street analysts were prevalent. Today, as the Wall Street analyst industry dissolves, identifying stocks with a low social following indicates a stock is dismissed // uncovered by investors.

Stocks that display both high relative strength and a low social following may be ripe to rip.

Onward…

The Nasdaq Composite inched +0.11%. The Russell 2000 tumbled -1.02%.

Communications and energy surged ~+0.75%. Real estate retreated -1.75%. Consumer staples and healthcare lost more than -0.80%.

New 52-Week Highs led New Lows — 173 vs. 9.

The Best of the Best

PHINIA ($PHIN) is the best of the best. The new issue after-market auto parts provider accelerated +2.97% and closed at an all-time high.

Here’s the daily chart.

$PHIN has 53 followers on Stocktwits.

NexGen Energy ($NXE) is a notable new high. The uranium company carried +8.49% and closed at an all-time high.

Here’s the daily chart.

And monster monthly chart.

$NXE has 3,300 followers on Stocktwits.

Beacon Roofing Supply ($BECN) is a notable new high. The roofing material distributor dashed +2.25% and closed at an all-time high.

Here’s the daily chart.

And monster monthly chart.

$BECN has 607 followers on Stocktwits.

The Worst of the Worst

GameStop ($GME) is the worst of the worst. The memestock stumbled -4.23% and closed at its lowest price since November 27th. Last Tuesday, the company reported Q4 earnings. The stock is down -22% since.

Here’s the daily chart.