These MarketSmith stocks from Monday’s breakout scan are impressive, with representation from the retail-mini-markets-grocers and energy (Oil & Gas) sectors. While the majority of stocks faded with the indices, these two MarketSmith stocks elevated themselves above the rest. In addition, the energy sector, Oil & Gas, and Natgas had an abundance of candidates following through on strength.
MarketSmith Stocks – Equinor Energy
Equinor (EQNR), a Norway based company, hails from the energy sector, and the integrated oil & gas industry group. The stock delighted investors with a break out to new highs on Monday.
We also commented on the energy sector today, as it produced the majority of relative strength candidates during the live broadcast. That said, U.S. indices fell more than expected, while the Energy Sector SPDR (XLE) faded minimally, down only 0.2%.
MarketSmith Stocks – Sprouts Farmers Market
Vipshop (VIPS), a Chinese “name brand” discount retailer, finished higher today, up 7.91% on above average volume. Credit Suisse upgraded the stock to “Outperform” with a price target of 12.00. Citigroup analysts also upgraded its rating on the company to “Neutral” from a previous “Sell.”
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