Eli Lilly (LLY) and EZ Corp. (EZPW) lead stocks to watch near buy points this week as investors seek shelter in defensive growth names. Fortinet (FTNT), Iron Mountain (IRM) and JB Hunt (JBHT) round out the list.
Eli Lilly stock raced through a buy zone Friday. Iron Mountain stock flirted with a buy area. Fortinet stock, JBHT stock and EZPW stock eye trendline or technical entries.
The relative strength lines of all top five stocks near buy points are making new highs or near highs. The strong RS lines, which track performance vs. the S&P 500, are especially bullish given the overall uncertain stock market.
Investors rotated into more defensive areas of the market, such as healthcare, financials, real estate investment trusts (REITs) and consumer staples. The defensive rotation came as worries about costly AI investments and persistent inflation hit top technology stocks.
Defensively oriented stocks offer relative stability in good times and bad times. People need things like medicines and groceries no matter which way the economy goes.
Eli Lilly stock raced through a buy zone Friday. Iron Mountain stock flirted with a buy area. Fortinet stock, JBHT stock and EZPW stock eye trendline or technical entries.
The relative strength lines of all top five stocks near buy points are making new highs or near highs. The strong RS lines, which track performance vs. the S&P 500, are especially bullish given the overall uncertain stock market.
Investors rotated into more defensive areas of the market, such as healthcare, financials, real estate investment trusts (REITs) and consumer staples. The defensive rotation came as worries about costly AI investments and persistent inflation hit top technology stocks.
Defensively oriented stocks offer relative stability in good times and bad times. People need things like medicines and groceries no matter which way the economy goes.
4 months ago
