Molycorp (NYSE:MCP) used fundamental momentum from better than expected earnings to hold technical support at it’s 20-day simple moving average(SMA). Stocks showing relative strength during a major sell-off illustrate potential money flow into stocks or sectors with the potential to outperform the general market (NYSE:SPY).
Below is a watchlist* of widely held stocks with market cap over $500 million, showing relative strength as they trade above 20-day SMA support today while the market remained weak.
*Watchlist current as of 3pm EST
Molycorp, Inc. || NYSE:MCP || 1-day perf.: +2.75%
Basic Materials | Industrial Metals & Materials | USA | Mrkt Cap. 4.0B
The Men’s Wearhouse, Inc. || NYSE:MW || 1-day perf.: +5.84%
Services | Apparel Stores | USA | Mrkt Cap. 1.38B
McDonald’s Corporation || NYSE:MCD || 1-day perf.: +1.61%
Services | Restaurants | USA | Mrkt Cap. 79.06B
Other stocks demonstrating similar technical strength…
SodaStream Internationl Limited || NASDAQ:SODA || 1-day perf.: +1.32%
Consumer Goods | Packaging and Containers | Israel | Mrkt Cap. 780.05M
Chipotle Mexican Grill, Inc. || NYSE:CMG || 1-day perf.: +1.02%
Services | Restaurants | USA | Mrkt Cap. 7.80B
Wal-Mart Stores Inc. || NYSE:WMT || 1-day perf.: +0.47%
Services | Discount, Variety Stores | USA | Mrkt Cap. 187.61B
Coach Inc. || NYSE:COH || 1-day perf.: +0.27%
Consumer Goods | Textile – Apparel Footwear and Accessories | USA | Mrkt Cap. 16.58B
*DISCLOSURE: None
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