Stocks This Week: Buy EQT Corporation And International Flavors And Fragrances

Higher prices are likely for several reasons:

· The S&P touched the 38.2% retracement level of the 2020-2022 rally. When the level was reached intraday on Thursday, the index immediately rallied

· Friday is a projected turning point for the S&P and the NASDAQ NDAQ

· Next week is May OPEX week which is not one of the stronger OPEX weeks. Monday has been the strongest day, up over 70% of the time.

The index is likely to extend the rally early in the week but dissipate by Friday.

The trading recommendations are derived from the S&P 500 screen below. The first column is the seasonal rank for May. The second screen is that of the current relative strength. The third column is the combined rank.

S&P 500 Screen


EQT Corporation ranks in second place in the combined relative strength and seasonality screen. The weekly cycle (80% accurate) bottoms now, and the stock is oversold. Price is likely to rally over $40.

Weekly Cycle

Da DAI ily Graph

International Flavors and Fragrances has traditionally been strong in the coming week. Price has risen 67% of the time over the last 42 years. The daily histogram below indicates that the low of the month has passed and that the second half of May has been kind to the bulls. The weekly cycle bottomed and has been correct on 11 of the last 12 buy signals. The share price is likely to mover closer to $140.

Daily Histogram for May

Blue: Average Percentage Change

Red: Probability of a rise on that day

Green: Expected Return (Product of the first 2)

Weekly Cycle

Daily Graph

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