3 Pullback Stocks Ready to Make a Comeback
The Financials, Energy, Industrials and Materials sectors have been cooling off this month. These sectors experienced too much volatility, too fast. I expect them to snap back up. I’ve identified three stocks that have been beaten down and could bounce back — and more in today’s stock market recap.
But first…
Stock Market Recap
In the stock market recap, global stocks were mostly higher today as investors focus on the short-term Federal Reserve outlook.
The Nasdaq made an all-time high Thursday after the Fed announced continued support for the economy. The bond market also popped Thursday and might approach its 200-day moving average. But, ultimately, it will come back down and interest rates will rise.
Wall Street has seized opportunities in a favorable environment with ultra-low interest rates. While the Fed has only mentioned the possibility of considering tapering off bond buying, investors are already preparing for the aftermath of such change.
Tech stocks might climb higher for a few more days, only to pull back with a drop in the bond market. For those of you who have been following my videos the past few weeks, now may be a good time to lower exposure in tech stocks.
Roger’s Radar: Top 3 Pullback Stocks
EQT Corp. (NYSE: EQT) has pulled back to its 50-day MA after making a swing high. EQT is an integrated energy company engaging in the natural gas business. It has a one-year return of 46.15%.
As everyone is aware, inflation is here. Interest rate-sensitive stocks will bounce back over the next few sessions. Energy stocks like EQT and others in the Materials, Financials and Industrials sectors will benefit from a reversal in interest rates.
The second opportunity is a global specialty chemicals company. I’ve mentioned it before and it has a one-year return of 106.98% with exposure to lithium. The third stock I’ve identified is a friendly face in global steel manufacturing.
In today’s video, you’ll learn whether tech has more upside to go… whether blue chips are prone to fall again… and the top pullback stocks heading into the weekend.
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