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The stocks to buy for this week are Intel and Cigna, both highly ranked.

News Room by News Room
November 6, 2023
Reading Time: 2 mins read
0
The stocks to buy for this week are Intel and Cigna, both highly ranked.

The Cycles Research stock screen identifies stocks that are strong both in terms of relative strength and in cycles. These equities are likely to be leaders in this 4th quarter rally. The NASDAQ
NDAQ
and the S&P 100 are expected to be leading indices.

Intel
INTC
is ranked number five in the S&P 100. The seasonality is very favorable. The stock has risen over 70% of the time in the month of November for a gain of almost 3% over the last 44 years. The graph of monthly expected return is depicted below. The share price has risen 65% of the time for an average 6.3% gain from October 27th to December 27th. With the seasonal cycle uptrend intact, we turn to the monthly cycle. Relative strength has been rising since March. As we can see in the third graph below, the share price bottomed as the monthly cycle hit a low.

The stock is likely to reach the $45 level by yearend.

Intel Monthly Expected Return

Intel Daily

Intel Monthly Cycle

Cigna is ranked fourth in the S&P 500. In terms of expected return, November has been the strongest month of the year, up over 76% of the time with an average 4.9% gain. From October 27th through yearend, price has risen 78% of the time for a 7.2% gain. Technically the stock is strong. Note in the weekly graph the higher lows in momentum. This is one of the few big-cap stocks that has oversold monthly momentum. The stock appears to be headed to $350-$360.

Cigna Monthly Histogram

Cigna Daily, Weekly, Monthly

Read the full article here

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