Materials & Construction 2023-12-05: UP +1 to STRONGER strength rating (3rd strongest of 9 levels), previous move was also UP
STRENGTH in Materials & Construction: 51% stocks = Strongest rating, 4-weeks 43% of stocks >10%, 1- and 4-weeks >90% positive stocks, Homebuilders = Strongest rating.
Full details at downloadable file linked below.
🔹 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.
Details
🔹 51% Strongest Stocks, 4% 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 (90%/93%/65% positive)
🔹 Sub-industry Overview:
STRONGEST at Strongest rating/1st strongest of 9 levels:
- Residential Construction (16 stocks)
WEAKEST at Average rating/5th strongest of 9 levels:
- Lumber (4 stocks)
- Manufactured Housing (3 stocks)
- Waste Management (12 stocks)
🔹 Lookback Periods Comparison:
3 Months: 8% stocks >+20% and 6% stocks <-20%.
___UP most:
ASPN +72% (Gn Bld Matl)
MTRX +27% (Heavy Const)
PGTI +26% (Gn Bld Matl)
ROAD +25% (GCs)
AWI +23% (Gn Bld Matl)
___DOWN most:
EVA -86% (Lumber)
LICY -84% (Waste Mgt)
PESI -38% (Waste Mgt)
MTZ -31% (Heavy Const)
VTNR -26% (Waste Mgt)
4 weeks: 43% stocks >+10% and 4% stocks <-10%.
___UP most:
LMB +34% (GCs)
MTZ +33% (Heavy Const)
HOV +32% (Resi Const)
DY +31% (Heavy Const)
IBP +25% (Gn Bld Matl)
___DOWN most:
EVA -71% (Lumber)
LICY -57% (Waste Mgt)
VTNR -15% (Waste Mgt)
MTRX -9% (Heavy Const)
QRHC -6% (Waste Mgt)
1 Week: 4% stocks >+10% and 0% stocks <-10%.
___UP most:
HOV +24% (Resi Const)
MTZ +20% (Heavy Const)
PESI +17% (Waste Mgt)
AWI +9% (Gn Bld Matl)
GMS +9% (Gn Bld Matl)
___DOWN most:
QRHC -4% (Waste Mgt)
ASPN -3% (Gn Bld Matl)
WY -1% (Lumber)
MEG -1% (Waste Mgt)
FIX 0% (GCs)