Food & Beverage 2023-09-15: Unchanged at WEAK strength rating (6th strongest of 9 levels), previous move was DOWN

Brian Degracia

16 Sep 2023 • 2 min read

Food & Beverage for the trading week ended 2023-09-15, industry unchanged as 2/8 sub-industries strengthened and 1/8 sub-industries weakened.

SUMMARY

Performance

Bottom line: flat/slightly declining for the past 10 weeks
Context: weakening recently vs. YTD
- 42% positive stocks YTD
- 30% positive stocks past 4 weeks

Background

Largest of 8 sub-industries (67 stocks total):
- 23 stocks Processed & Packaged Goods
- 9 stocks Beverages - Soft Drinks
- 9 stocks Farm Products
- 9 stocks Food - Major Diversified
10 Biggest Market Cap stocks: KO, PEP, FMX, BUD, MDLZ, ABEY, MNST, STZ, KDP, ADM

DETAIL: 1 week review, YTD/4 weeks lookbacks

1 Week Review

Strengthened: 2/8 sub-industries
Weakened: 1/8 sub-industries

Strongest at Average/5th strongest (of 9 levels) rating:
- Farm Products
- Meat Products
Weakest at Weaker/7th strongest rating: Confectioners

10-Week Week-by-Week Industry/Sub-industry Strength Comparison
What: recent week-by-week strength changes for the industry and each underlying sub-industry
Why: objective measurement of strengthening and weakening enabling comparison within and across industries and sub-industries

Strongest and Weakest Stocks
What: stocks currently rated Strongest/Weakest (highest/lowest of 9 strength ratings)
Why: most interesting stocks for available capital because
- the Strongest may be meme-stock mania candidates prone to breakouts, and
- the Weakest may be prone to large bottom-fishing/short-covering-driven pops... and may also be primed for bigger and faster falls. (Not guaranteed and not a recommendation - weak stocks in weakening sub-industries may be better shorts than high-flyers.)