Automotive 2023-12-20: UNCHANGED at AVERAGE strength rating (5th strongest of 9 levels), previous move was UP
Automotive 1 week 71% positive, Auto Mfrs=Average strength, 4 weeks BLBD/GM +43%/26%, FSR -33%.
Full details at downloadable file linked below.
What are you seeing here and why do you care? Partial listing:
🔹 An objective measurement of industry strengthening and weakening so you can objectively compare strength and weakness across/within industries and sub-industries.
🔹 A listing of stocks rated Strongest and Weakest (highest/lowest strength of 9 levels) by sub-industry, saving you significant time finding stocks that may be prone to making bigger moves faster. Stronger stocks have less overhead resistance, Weaker stocks are prone to “pops” from bargain hunting and short-covering yet due to preceding weakness are also prone to falling far and fast.
Background
Largest of 4 sub-industries (62 stocks, average 16):
- Auto Parts (26 stocks)
- Auto Manufacturers - Major (17 stocks)
- Recreational Vehicles (14 stocks)
Top 10 Market Cap stocks: TSLA/Tesla Inc, TM/Toyota Motor Corporation ADS, RACE/Ferrari NV, STLA/Stellantis N.V., HMC/Honda Motor Co. Ltd. ADS, PCAR/Paccar Inc, GM/General Motors Company, F/Ford Motor Co, LI/Li Auto Inc, JCI/Johnson Controls Inc.
Details
🔹 23% Strongest Stocks, 15% Weakest Stocks.
🔹 Mixed/WEAKENING 1 Week vs. Mid- and Longer-Term // 1 week positive/negative stocks ratio is LOWER than 4 weeks but HIGHER than 3 Months (71%/79%/50% positive)
🔹 Sub-industry Overview:
STRONGEST at Strong rating/4th strongest of 9 levels:
- Recreational Vehicles (14 stocks)
- Trucks & Other Vehicles (5 stocks)
WEAKEST at Average rating/5th strongest of 9 levels:
- Auto Manufacturers - Major (17 stocks)
- Auto Parts (26 stocks)
🔹 Lookback Periods Comparison:
3 Months: 13% stocks >+20% and 11% stocks <-20%.
___UP most:
BLBD +34% (Major Mfrs)
CWH +31% (Recreatnl Veh)
HY +30% (Trucks/Other)
MOD +29% (Auto Parts)
FSS +29% (Recreatnl Veh)
___DOWN most:
FSR -76% (Major Mfrs)
GOEV -43% (Major Mfrs)
FOXF -33% (Recreatnl Veh)
WKHS -21% (Major Mfrs)
KNDI -21% (Major Mfrs)
4 weeks: 39% stocks >+10% and 13% stocks <-10%.
___UP most:
BLBD +43% (Major Mfrs)
GM +26% (Major Mfrs)
QS +25% (Auto Parts)
HY +24% (Trucks/Other)
CWH +22% (Recreatnl Veh)
___DOWN most:
FSR -33% (Major Mfrs)
GOEV -24% (Major Mfrs)
XPEV -20% (Major Mfrs)
LI -18% (Major Mfrs)
MPAA -17% (Auto Parts)
1 Week: 0% stocks >+10% and 0% stocks <-10%.
___UP most:
MBUU +10% (Recreatnl Veh)
DOOO +10% (Recreatnl Veh)
PATK +10% (Auto Parts)
HY +9% (Trucks/Other)
SRI +9% (Auto Parts)
___DOWN most:
MPAA -10% (Auto Parts)
XPEV -9% (Major Mfrs)
RACE -8% (Major Mfrs)
SUP -5% (Auto Parts)
WKHS -5% (Major Mfrs)