Hope you had a good weekend, and welcome back to an all-new trading week.
Last week was an interesting one.
We had three days of the market rising in what I believe was largely a technical bounce…
Aided by falling yields, a weaker dollar, and several Fed officials making dovish comments.
Then, the hotter-than-expected inflation print hit – and it sent the market downwards for the last two days of the trading week.
But this wasn’t a huge downward movement, as both the S&P 500 and the Dow posted a winning week.
Many people will be looking at how the market will play out this week – because that could be a precursor to how the market will move after the Fed meets at the beginning of November.
The good news is that, even if the market has a losing week…
There are always high-momentum stocks that could defy the market and continue to spit out gains for those who hopped along for the ride.
Those are the stocks I spotlight at the beginning of every trading week – and today is no different.
Today’s list features three stocks from two big – and somewhat controversial – industries that have been benefiting from the recent spike in geopolitical uncertainty.
While no one likes to see these things happen, the reality is that such events will always benefit some stocks – meaning they can benefit you.
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Liberty Energy Inc. (LBRT)
LBRT is a leading North American oilfield services firm. And while many O&G stocks have been performing well lately, what makes LBRT make today’s list is its beautiful price action. After its stock price took a big hit in March 2023, it consolidated and moved sideways for over three months until the end of June.
Then, its stock took off and has been on a tear since then, with its 50-day moving average serving as reliable support. Further, its stock just broke through a resistance level created by its highs in November 2022 – meaning now could be a good time to get in on a stock that might be breaking out to new highs.
Matador Resources Company (MTDR)
MTDR is an oil and gas company that owns various natural oil and gas resources across the United States, and also conducts some midstream operations to support its primary exploration and production business.
Once again, MTDR makes this list because of its price action. The stock took a deep diver over September, but since hitting a mini bottom on October 5, its upward momentum has been incredible. The stock has consistently “gapped up” since then – meaning the opening price is significantly higher than the previous day’s closing price – which is a sign of fantastic momentum.
The stock is also about to reclaim the highs made before the September dip, and if it breaks through that, its price could really fly.
Northrop Grumman Corporation (NOC)
Aerospace and defense stocks have been surging amid the Israel-Hamas conflict, and NOC has been one of the strongest performers. Thanks to its performance over the past week, its stock has broken past the resistance line formed by the highs of February and April 2023.
With the Israel-Hamas conflict only escalating, this stock is likely to keep surging. And it has the best price action setup of them all.
To your wealth,
Felix @ Ace of Investing