2 MarketSmith Stocks Breaking Out to Start the Week

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%.

Equinor (EQNR) has built 7 quarters of beating earnings expectations, with its Relative Strength line rising another notch to 97.

Comstock Resources (CRK), from the IBD50 and the weekly watchlist, printed strong results today, up 5.48% after Goldman Sachs raising its price target to 13.50.

MarketSmith Stocks – Sprouts Farmers Market 

Sprouts Farmers Market (SFM) closed higher by 0.73% today, taking out its pivot for a breakout of its 5-month cup-with-handle base. The stock hit its 31.59 buy point on the weekly chart.

Investors Business Daily also highlighted The Wall Street Journal’s Heard on the Street stock-picking contest recently featuring thePhoenix based grocery chain.

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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Celsius (CELH) is an IBD50 leader, rising 5.40% on Monday, while its Relative Strength Rating climbed back near highs at 98.

Comstock Resources(CRK), had a strong day, up 5.84% after Goldman Sachs raises its price target to 13.50.

Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 

Vinny

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