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Momentum Wrap - Refiners Shine Again | StockTwits 50StockTwits 50 | The best stocks with the best setups

Momentum Wrap – Refiners Shine Again

on January 29 | in Daily Update | by

new highs Jan 29

New Highs

70 new all-time highs among stocks that gained 1% or more today: CP PSX TUP GGG DK MPC HFC JJSF CZZ STZ

163 stocks reached new 52-week highs while appreciating 1%+. Some of the notable movers include:

  • Refiners followed up on yesterday’s strong session after impressive earnings from Valero ($VLO).  Strength begets more strength. More than 10 breakouts to new multi-year highs: $HFC $TSO $MUR $DK $ALJ etc.
  • Healthcare  is still a leading sector. Big pharma ($LLY $PFE $JNJ) are breaking out. Other defensive assets (utilities) are also outperforming the general market.  A sign of caution or just another sector rotation within a bull market. History suggest the former.
  • Southeast Asia is the new China. Capital is flowing where cost of manufacturing is cheaper and market is discounting it by bidding up local markets. New 52wk highs for Thailand, Vietnam, Philippines – $THD $VNM $EPHE

StockTwits 50 Notables

  • $FHCO keeps climbing higher on above its average volume

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