Hey, Ross here:
As we end the trading week, here’s a stock that could be a future market leader.
Chart of the Day
ESAB Corporation (ESAB) is an industrial machinery producer with huge relative strength.
The stock went public in 2022 – right in the middle of the bear market.
It got crushed along with everything else, and it has not had a chance to shine until now. Coming off the market bottom in October, ESAB has climbed 94% in just four months.
I’ve drawn a line at the IPO high on the chart. This is a key level for any new stock.
Notice how ESAB stalled at this level, broke above, and it is now serving as support – support that still held despite the fear-induced drop over the “banking crisis”.
This is a constructive sign and leads me to believe this stock will continue its move higher. ESAB is a leading stock, and if the market can resume its uptrend, this will almost surely be a market leader.
P.S. Want me to send you special trade prospects and potential market moves directly to your phone? Text the word ross to 74121.
Insight of the Day
Fear can flip to FOMO so much faster than you think.
We just saw it happen with Bitcoin, which has gone up 30% in just the past week. We’re seeing it happen in stocks now that the fear from the so-called “banking crisis” is subsiding and stocks are trending up again.
The ability of market sentiment to flip just like that messes up many traders. They feel unsure, become hesitant – and miss opportunities.
The best traders in history were able to accept that sentiment is fickle. And they turned that to their advantage by seamlessly going with the flow of the market.
What these legendary traders knew was that it was the institutional money which really dictated the movements of most stocks.
This means if you can spot where these flows are going – you can jump in and profit right alongside them. And I’m sharing how you can do that right here.
Embrace the surge,
Editor, Stock Surge Daily