By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Next Gen Econ
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Reading: Stocks This Week: Buy MMM And Goldman Sachs
Share
Subscribe To Alerts
Next Gen Econ Next Gen Econ
Font ResizerAa
  • Personal Finance
  • Credit Cards
  • Loans
  • Investing
  • Business
  • Debt
  • Homes
Search
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Follow US
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.
Next Gen Econ > Investing > Stocks This Week: Buy MMM And Goldman Sachs
Investing

Stocks This Week: Buy MMM And Goldman Sachs

NGEC By NGEC Last updated: July 28, 2024 3 Min Read
SHARE

The market appears to be in a rolling correction. This occurs when one group or sector fades and another begins a rally. This bull market has gone to an historic split between the tech leaders and the rest of the market.

This tech correction is likely not completed. There are two reasons for this point of view:

· The open interest put/call ratio remains over two and near its highs. This tells us that traders remain bullish despite the decline. More downside is necessary to turn them to the bearish side of the ledger.

· The down moves in both the S&P and the NASDAQ do not appear to be complete.

However, the bull market remains intact. The market data for Thursday, a big down day, reveals an excess of new highs over new lows. This has been a consistent theme. It reinforces the notion that funds are flowing from the big-cap sector to areas that had not participated.

The Cycles Research screen for the DJIA shows that MMM and Goldman Sachs are rated number one and number two. One Dow stock that traced out a firm base is MMM. The stock surprised on the earnings announcement on Friday. A great deal of buying power is required to lift a large-cap stock like this by 20% in a single day. This move broke the stock out, so there is further price appreciation to come. Below, we see a relative strength base forming in the daily strip. In the weekly strip, there is a classic buy signal. A three-year downtrend has been reversed to the upside while a rising series of higher momentum lows has formed. The monthly strip indicates that this is one of the few large-cap stocks that had not moved up in this bull market.

MMM- Daily, Weekly, Monthly

The stock bottomed on cue with the low in the monthly cycle. The $165-$180 area is a yearend target.

MMM

Goldman Sachs is also projected to be a leader into yearend. There are higher lows in weekly momentum. The monthly momentum is not overbought, one of the few big cap stocks that is not in that condition. Since 2021, monthly relative strength has been rising. The monthly cycle projects a rise into November closer to $500 a share.

Goldman Sachs Daily, Weekly, Monthly

Goldman Sachs Monthly Cycle

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Advantages And Disadvantages Of Using TOD Accounts To Avoid Probate
Next Article No Tax On Tips – Be Careful What You Wish For
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FacebookLike
TwitterFollow
PinterestPin
InstagramFollow
TiktokFollow
Google NewsFollow
Most Popular
What Are the Financial Red Flags That Could Trigger an IRS Audit in Retirement?
August 25, 2025
Annuities Vs. Life Insurance: What’s The Difference?
August 25, 2025
6 Reasons Social Security Payments Are Quietly Dropping in 2025
August 25, 2025
Will College Costs Decline With Federal Borrowing Limits?
August 25, 2025
4 Lenders That Offer Payment Flexibility In An Uncertain Economy
August 25, 2025
High-Yield Savings Rates Today: August 25, 2025
August 25, 2025

You Might Also Like

Investing

What Is A 414(h) Plan And How Does It Work?

11 Min Read
Investing

The S&P 500 Is Rising But Most Stocks Are Falling: What’s Going On?

9 Min Read
Investing

5 Of The Most Overlooked Investments Right Now

11 Min Read
Investing

Bitcoin Vs. Gold: Which Is The Better Inflation Hedge?

12 Min Read

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Next Gen Econ

Next Gen Econ is your one-stop website for the latest finance news, updates and tips, follow us for more daily updates.

Latest News

  • Small Business
  • Debt
  • Investments
  • Personal Finance

Resouce

  • Privacy Policy
  • Terms of use
  • Newsletter
  • Contact

Daily Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Get Daily Updates
Welcome Back!

Sign in to your account

Lost your password?