With all the talk about tech and AI, it’s easy to overlook some very hot stocks in some very hot sectors.
One of the top 20 hottest groups in the world is…the building sector?
Crazy, but true.
Specifically, EXP (Eagle Materials) has been on a great run in recent months.
See the chart here:
It’s gone from $143 to $190 in 2023 and has risen a lot more since it formed a double bottom back in September of ‘22.
Recently it’s taken a small break, going sideways and forming a tight little channel.
But it’s above the long-term simple moving average and a break above $194.05 could lead to a nice run.
Especially if September isn’t as bearish as August was.
We’ll keep it on our radar.
We’ll keep an eye on it.
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.