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Hudbay Minerals Finds 2-Year High

Hudbay Minerals Finds 2-Year High

New 52-Week Highs led New Lows — 95 vs. 7.

Riley Rosebee
April 09, 2024

Good evening. Welcome to Trends with No Friends.

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.

Stocks snapped back after the early session weakness. The Russell 2000 and Nasdaq Composite carried +0.30%. The Dow finished flat.

Real estate rallied +1.27%. Industrials and financials fell -0.23 and -0.57% respectively.

New 52-Week Highs led New Lows — 95 vs. 7.

The Best of the Best

Hudbay Minerals ($HBM) is the best of the best. The Canadian copper mining company marched +6.83% and closed at a 2-year high.

Here’s the daily chart.

And monster monthly chart.

$HBM has 1,636 followers on Stocktwits.

Cabot Corp ($CBT) is a notable new high. The specialty chemicals company carried +4.23% and closed at an all-time high.

$CBT is up 37.55% since its February 5th earnings report.

Here’s the daily chart.

And monster 3-month chart.

$CBT has 374 followers on Stocktwits.

PHINIA ($PHIN) is a notable new high. The aftermarket auto part manufacturer advanced +3.97% and closed at an all-time high.

Here’s the daily chart.

$PHIN has 55 followers on Stocktwits.

The Worst of the Worst

Inmode ($INMD) is the worst of the worst. The plastic surgery technology company tumbled -6.87% and closed at its lowest price since October 2020.

Here’s the dumpster-fire daily chart.