Stocks This Week: Buy Booking Holdings And Wynn Resorts

Photographer: Joe Buglewicz/Bloomberg

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The market is likely to rally into the spring. The NASDAQ NDAQ was the hardest hit index in 2022, so a search has been run for rebounding stocks. The relative strength/seasonality screen shows that Booking Holdings is ranked number one in the NASDAQ 100. In fact, airline, cruise line, and resort stocks are at the top of the list. Technology is not highly rated. Below, we see that the first four months of the year have been the strongest. In fact, the stock has risen from February 6th to May 1st 83% of the time over the last 23 years. The weekly graph reveals that price broke out from a falling wedge formation and that relative strength has reversed a three-year downtrend. The 2600 level is the first price objective.

Booking Holdings Monthly Histogram

This stock is near its seasonal low.

Cycles Research Investments LLC

Red: Percentage of months in which price rose

Blue: Percentage price change

Green: Expected return (product of the first two)

Booking Holdings Monthly Graph

This technical picture is strong.

Cycles Research Investments LLC

Wynn Resorts is fourth-ranked in the NASDAQ. It is in first place for relative strength. The monthly graph is bullish. An eight-year relative strength downtrend is reversing to the upside. The blue momentum line shows a series of higher lows that began in 2015. Both are longer-term buy signals. The $115 area is the next target, 15% above Friday’s closing quote.

Wynn Monthly Graph

This appears to be the beginning of a longer-term rally.

Cycles Research Investments LLC