Back on January 7th, I asked “Will 2017’s Worst Performing Industries Bounce Back in 2018?”
At the end of 2016, I noticed that renewable energy had experienced a really tough year or two and sure enough, they bounced back in a big way in 2017!
The 5 worst performing industry segments for 2017 were:
Shipping
Oil & Gas Drilling & Exploration
Dairy Products
Sporting Goods Stores
Long-Term Care Facilities
Dick’s Sporting Goods Inc. was one that stood out to me due to the fact that it had recently recaptured the 50 day moving average and that average was starting to turn upwards. At the time DKS was trading at 29.12 and it has now hit 35.01 after rising by over 6% today.
The stock is above the 50 day average and the 200 day average and the 50 has grossed above the 200 in what is known as a Golden Cross.
Time will tell if the trade continues to work out, but so far it is looking good.
Trade safe!
