The two stocks I’ve identified today show strong momentum levels and upside potential. One is a storage solutions stock and the other is an agricultural name. I like both of these plays since they recently pulled back from high levels — and more in today’s stock market recap.
Today’s two stocks stand to benefit from a booming economy and are showing strong entry signals for a potential bounce back.
Stock Market Recap
In today’s stock market recap, global markets are mixed today as countries continue to struggle with COVID-19 outbreaks. U.S. markets are looking toward employment figures this week.
The Nasdaq has 83% of its stocks trading above their 50-day moving averages. I expect that figure to soon fall to 50% to 60%. It looks like tech companies have started cooling off already. Traders should look into the basic Materials, Financials, Health Care and Industrials sectors.
The jobless claims report comes out today. We’ve gone from the 900,000 level to below 600,000 the past few weeks. The number is moving in the right direction, and we look to follow that downward trend again today.
I expect the unemployment rate to match analysts’ consensus of 5.7% to 5.9% when that report comes out Friday.
Roger’s Radar: 2 Stocks With Upside Potential
Willscot Corp (Nasdaq: WSC) has pulled back to its 50-day moving average from an all-time high. WSC has a one-year return of 160.02%. This company is based in Arizona and operates in North America and Europe, and I actually sent an alert to buy the stock to my Microburst Profit Signals members this week!
Although it’s in the Nasdaq, it’s exposed to the sectors that will profit most from a booming economy. This company provides office space and storage solutions. As businesses continue to open back up and expand, WSC will continue to benefit.
The second stock for today is one of the world’s leading crop nutrient companies. It mines and processes two of the three most vital nutrients for agriculture. It’s one-year return is 196.35%.
In today’s video, I’ll show you the biggest Fed report this week… whether the Nasdaq is going higher or lower… when interest rates could trade higher… and two boring stocks that are showing strong momentum and upside potential.
P.S. We’re experiencing a busy few weeks loaded with market-moving information.
After we get through earnings season, we should have a good idea how the rest of 2021 will play out. We’re not there quite yet…
But there’s a trend being established: People are spending money and earnings are beating estimates, some by a lot.
What does this mean for us?
The return to a new normal is well under way, and this summer could bring some explosive moves to companies’ revenue… as well as their stock prices!