The stock market is likely to extend its rally through the month. Market internal numbers have improved. New highs exceeded new lows for four of the last five trading days. This is a marked change from the beginning of the year. Here are a pair of buy candidates.
EQT was recommended in these posts earlier and the year and has performed well. The stock is currently number one in the relative strength scan of the S&P 500. We can see that the monthly cycle has bottomed, following the lead of the daily and the weekly cycles. The technical picture remains strong. The stock is likely to break through the old high at $50 and to challenge $55 over the coming month.
EQT Monthly Cycle
Allegheny Technologies Weekly Graph