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Momentum Wrap - Chemical Stocks Are Breaking Out | StockTwits 50StockTwits 50 | The best stocks with the best setups

Momentum Wrap – Chemical Stocks Are Breaking Out

on December 10 | in Daily Update | by

New Highs

16 All-time highs that gained at least 1%: INFI CSL PSX POL TRMB HMST CMN FMX MPC MTX EMN BKX WAB ETE EPB KOF

53 reached new 52-week highs while gaining 1% or more. Some of the notable movers include:

  • Specialty chemicals, rubbers are breaking out all over the place: $POL $EMN $MTX $CYT
  • Refiners and pipelines continue to gain ground: $MPC $PSX $ETE
  • Construction stocks continue to outperform: $GVA $PWR $EME
  • MexicAN ADRs are stil on fire and making multi-year highs: $ASR $KOF $FMX
  • IPOs bases have been big winners lately and any time IPOs outperform is usually a good sign of risk appetite in the market. Some recent examples that were featured last week on the 52-week high list: $MPLX $HY $RKUS $BSMX

StockTwits 50 Notables:

  • $POL was the best St50 performer today, gaining 3% and closing at all-time highs
  • $CVLT managed to hold its rising 20dma and it looks ready to test $70 this week
  • $AMGN continues to act well and closed just a few cents below all-time highs; decent daily setup too
  • $CRM closed within a striking distance of its all-time highs after heavy buying near the end of the day
  • $TRS cleared new highs on heavy volume
  • $EXPE declined in sympathy with $PCLN, which was downgraded by Deutsche bank. EXPE is right at tis rising 50dma – important technical level
  • $KORS is still under its 50dma and it is starting to look vulnerable, at least in short-term perspective

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