Home » Watchlist Week of July 11th, 2022

Watchlist Week of July 11th, 2022

Molson Coors Beverage Company (Long Idea)

During Thursday’s “State of the Market” webinar with my colleagues Josh Martinez, Anthony Speciale, I pointed out that the alcoholic beverage sector is coming out of a Stage 1 base and is on the verge of breaking out higher.

Daily Chart of Molson Coors Beverage Company (TAP) – Source: TradingView
  • Surge score: 96/100
  • % Above 52-wk low: 39%
  • Sales growth: +17%
  • Return on Equity: 7%
  • Triple momentum: yes 

Molson Coors Beverage Company (TAP) is one of the strongest stocks in this sector and currently finishing a 12-month “cup with handle” pattern.

Consider buying here with a stop at $54.10.

MGP Ingredients, Inc. (Long Idea)

Another alcoholic beverage stock that looks even stronger to me is MGP Ingredients, Inc. (MGPI).

Daily Chart of MGP Ingredients, Inc. (MGPI) – Source: TradingView
  • Surge score: 98/100
  • % Above 52-wk low: 77%
  • Sales growth: +80%
  • Return on Equity: +20%
  • Triple momentum: yes 

The distilled spirit-maker is forming a “base on base” pattern with extremely tight price action over the last two weeks.

The relative strength line is steadily climbing higher even as the broader market chops back and forth.

Consider buying MGPI on a breakout above $103.25 with a stop at $99.05 for a very low-risk trade.

Halozyme Therapeutics, Inc. (Long Idea)

Halozyme Therapeutics, Inc. (HALO) is a biotech stock that has been steadily drifting higher since February.

Daily Chart of Halozyme Therapeutics, Inc. (HALO) – Source: TradingView
  • Surge score: 97/100
  • % Above 52-wk low: 50%
  • Sales growth: +32%
  • Return on Equity: 169%
  • Triple momentum: yes

It broke out to new highs on heavy volume on July 7 but has since pulled back to the 21-day moving average.

Traders may consider a pullback buy here with a stop beneath the swing low at $43.40.

Brand New Strategy for Profiting from AI Stocks.

There’s a brand-new strategy in 2024 for going after big profits in AI stocks. It has nothing to do with Nvidia, Microsoft, Meta – or any of the big AI stocks the media can’t stop talking about.

It has to do with a fast-moving “backdoor” that has opened in the AI market... A backdoor that could send a very special class of AI stocks rocketing into the stratosphere.

Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

With Ross Givens

Looking for an edge? Ross has the inside scoop on top analysis that will help grow your portfolio.. Receive a new stock opportunity every day and get ready to see your investment SURGE!

Tech stocks are rallying – and Ross Givens’ #1 Tech Stock of the Decade has been making BIG moves you don’t want to miss.

Whats in the Article