Hey, Ross here:
And let’s start the last day of the trading week with another actionable.
Chart of the Day
This stock has nothing to do with artificial intelligence. It is a fertility company. But the growth is tremendous.
PGNY sales have increased by more than 50% in each of the last four quarters, and 2023 earnings are projected to be nearly triple the best year they’ve ever had.
With a 2024 EPS estimate of $2.05, the stock trades at just 19X forward earnings which is a steal for a high growth name like this.
The dashed line on the chart above shows a key support/resistance level in PGNY.
As of today, the stock has pulled back slightly below this level.
But if it can move back above that level and stay above it – I would consider getting in with a tight stop.
Insight of the Day
I can sense more and more investors reaching the “FOMO stage” – this is something we can take advantage of.
Check out this headline from Reuters:
For the week ending June 16, U.S. stock funds saw nearly $19 billion in net inflows – the highest in almost two-and-a-half years.
And more and more money is coming off the sidelines, with over $18 billion flowing out of money market funds for the week up till June 21.
All this is happening despite the Fed trying to dampen the rally, despite other central banks still raising rates (the Bank of England just hiked by 50 points yesterday), and despite all the bears out there crying “bull trap!”.
I can sense more and more investors reaching the FOMO (fear of missing out) stage.
This will help keep sending more and more stocks from the “reload” phase into full-blown breakouts.
It’s critical you move fast if you want to catch these breakouts.
That’s why I’m going LIVE later at 12 p.m. Eastern today to show you my top-performing strategy in 2023 for spotting and riding these breakouts.
It’s already delivered gains like 61%, 97% and 142% this year – but this could be just the start.
Because it’s time to ride this rally for all it’s worth.
Embrace the surge,
Editor, Stock Surge Daily