Momentum Wrap – Auto Makers and Auto Dealers Hit New 52-week Highs

on January 3 | in Daily Update | by

new highs Jan 3

New Highs

32 All-Time highs among stocks that gained 1% or more. Some of the  bigger gainers include: UNF FLO HRL HSNI  LAD POL PIZZA WAB

102 stocks reached new 52-week highs while gaining 1%+ today.  Some of the notable movers include:

  • Anything auto-related keeps powering higher with car makers ($F) and auto-dealers leading the way: $SAH $LAD
  • Specialty chemicals stocks are on fire: $POL $CYT
  • South American banks are following their U.S. counterparts and clearing new highs: $BBD $CIB
  • Restaurant stocks are breaking out: $PZZA $KKD
  • Keep an eye on $MPEL – new 5yr highs today and with online gambling likely to be legalized this year, it has a solid catalyst behind it

StockTwits 50 Notables

  • After two and a half monstrous days in the market, many momentum stocks look tired and extended and in need of consolidation, either through price or time. Be careful and don’t chase blindly here
  • $TASR tagged new 4yr highs but closed far below its high of the day
  • $CONN is starting to show some signs of distribution. It is one of only three St5o stocks that are negative for the week so far

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