The Buzz 🐝 Week 20

Welcome to The Buzz! 

Week starting July 17, 2023 | Edition No. 20

Our mission at The Buzz is simple: to identify and profit from the most-talked-about stocks on social media. 

Every week, we compile a list of stocks trending tickers that are experiencing a large increase in the investor interest. We use social media data from our partners at Likefolio. 

In each weekly report, we outline 1-3 actionable trades. We also take a closer look at a few other charts from our list. Some weeks will have more actionable setups than others, as we don’t want to force trades. 

With any bottoms-up scan, many of these stocks are at the mercy of the broader market. We will always consider the current market environment when identifying our long/short ideas. 

None of these setups are guaranteed to work. Profitable trading requires you to take small losses and let your winners run. If price closes below our risk levels, we want to take the small loss and move on, to preserve capital for future opportunities. 

As always, feel free to reach out to me at Patrick@thechartreport.com with any questions or feedback. 

Let’s dive into this week’s list of trending tickers!

Download as TradingView Watchlist 

This table shows the rate of change in weekly mentions relative to a longer-term average of mention history. In less technical terms, this list shows us the most popular stocks on social media last week. 

List Overview 

There were an unusual amount of REITs on this week’s list, including $PSA, $AMT, $EXR, $IRM, $DLR, and $WPC. 

It’s not clear why REITs are buzzing right now. They haven’t been particularly volatile lately, but it’s worth keeping an eye on this group in the near term. Perhaps a move is brewing. 

We continue to be in a risk-on environment for stocks. We’re sticking with our long bias until price action suggests otherwise. 

Keep in mind earnings season is approaching. If you’re holding individual stocks, be aware of when they report and manage risk responsibly.

The five largest: (By Market Cap) 

• $GS - Goldman Sachs Group, Inc.
• $ENB - Endbridge. Inc.
• $IBKR - Interactive Brokers Group, Inc.
• $FAST - Fastenal Company
• $WIT - Wipro Limited

The five closest to 52-week highs: 

• $XPO - XPO, Inc.
• $AEHR - Aehr Test Systems 
• $FR - First Industry Realty Trust, Inc. 
• $FAST - Fastenal Company 
• $GLBE - Global-E Online, Ltd.

Top Gainers (1-Week % Change) 

• $HOOD - Robinhood 
• $OII - Oceaneering International, Inc. 
• $MLKN - MillerKnoll, Inc. 
• $SSTK - Shutterstock, Inc. 
• $DPZ - Domino’s Pizza

Many of the tickers on this week’s list are seeing a pick-up in activity ahead of their earnings reports in the next few weeks. REITs have caught some attention recently, with $FR, $HST, and $PK showing up this week. There were more Financials than usual as this sector kicks off earnings season this week. We want to be extra picky during earnings season, so we only selected one trade idea for you this week. However, we feel confident that stock is the best setup on our list.

Let’s take a closer look…