Zacks highlights commentary from People and Picks Member «Neurodoc».
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A bit of caution
1. Start of 6 month bear cycle but doesn’t mean sell on that today (5/2).
2. Bearish engulfing pattern for Russell 2000 today
3. Relative weakness small stocks v. SP500
4. After the anticipated breakout mid-April from the inverse H&S pattern (see prior blog) with good gains near the target point, Arthur Hill (Stockcharts) points out a phenomenon called “throwback”, which is common after the H&S breakout for prices to come back to the neckline support. But major trend still up.
5. So consider selling or tightening stops on weak holdings and holding off on new buys waiting for a retracement. But as is often said, do your own due diligence.
The most recent picks by «Neurodoc» are:
A buy rating on Hertz Global Holdings (HTZ),
a buy rating on Huaneng Power (HNP) and
a buy rating on Rent-a-Center (RCII).
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HUANENG POWER (HNP): Free Stock Analysis Report
HERTZ GLBL HLDG (HTZ): Free Stock Analysis Report
RENT-A-CENTER (RCII): Free Stock Analysis Report
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