October 17, 2023, 1:16 pm EDT
Resurgence of Retailers
Retailers are getting stronger recently like VFC up +14% today as well as LULU gap-up breakout yesterday.
Others are also line-up to rise up either from the bottom of bases:
- Bottom: M, UA, PVH, NKE, DLTR
- Base: TJX, ROST
Although the stock ignores the war in the Middle East between Israel and Hamas since the attack on 10/07/2023, the risks are still on the table. The complexity of the confrontation in Gaza and neighboring countries should not be underestimated. The bad-news rally is highly suspicious, in our opinion.
However, any potential leaders are interesting to watch like retailer industry at this time.
Overall investment strategy should be cautious and conservative.