Materials & Construction 2023-12-19: UNCHANGED at STRONGER strength rating (3rd strongest of 9 levels), previous move was UP
Market-leading Materials/Construction (with Banking, per this industry strength report) 93% positive stocks, Homebuilders and 65% stocks = Strongest rating, HOV 4 weeks +72%.
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.
Background
Largest of 8 sub-industries (83 stocks, average 10):
- General Building Materials (25 stocks)
- Residential Construction (16 stocks)
- Heavy Construction (12 stocks)
- Waste Management (12 stocks)
Top 10 Market Cap stocks: WM/Waste Management Inc, RSG/Republic Services Inc, CARR/Carrier Global Corporation, DHI/D.R. Horton Inc, LEN/Lennar Corp Cl A, WCN/Waste Connections Inc, FAST/Fastenal Company, MLM/Martin Marietta Materials Inc, VMC/Vulcan Materials Co, PWR/Quanta Services Inc.
Details
🔹 65% Strongest Stocks, 5% 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 (93%/94%/86% positive)
🔹 Sub-industry Overview:
STRONGEST at Strongest rating/1st strongest of 9 levels:
- Cement (3 stocks)
- General Contractors (8)
- Residential Construction (16)
WEAKEST at Strong rating/4th strongest of 9 levels:
- Lumber (4 stocks)
- Manufactured Housing (3)
- Waste Management (12)
🔹 Lookback Periods Comparison:
3 Months: 40% stocks >+20% and 5% stocks <-20%.
___UP most:
ASPN +116% (Gn Bld Matl)
PGTI +50% (Gn Bld Matl)
HOV +46% (Resi Const)
MHO +46% (Resi Const)
BLD +46% (Gn Bld Matl)
___DOWN most:
EVA -85% (Lumber)
LICY -84% (Waste Mgt)
VTNR -31% (Waste Mgt)
PESI -26% (Waste Mgt)
CSTE -10% (Mfd Hsing)
4 weeks: 58% stocks >+10% and 2% stocks <-10%.
___UP most:
HOV +72% (Resi Const)
ASPN +33% (Gn Bld Matl)
MTZ +30% (Heavy Const)
BLD +28% (Gn Bld Matl)
IBP +27% (Gn Bld Matl)
___DOWN most:
EVA -32% (Lumber)
LICY -11% (Waste Mgt)
PESI -3% (Waste Mgt)
QRHC -3% (Waste Mgt)
VTNR -2% (Waste Mgt)
1 Week: 29% stocks >+10% and 0% stocks <-10%.
___UP most:
PGTI +20% (Gn Bld Matl)
BLD +17% (Gn Bld Matl)
QRHC +16% (Waste Mgt)
MHO +14% (Resi Const)
ASPN +14% (Gn Bld Matl)
___DOWN most:
CSTE -8% (Mfd Hsing)
LICY -7% (Waste Mgt)
EVA -7% (Lumber)
NX -5% (Gn Bld Matl)
DOOR -4% (Gn Bld Matl)