Comi vs. Cmp
Now that Condmag (COMI) has reached the bottom worst ranking stock in the Alpha 54 universe, it is time to revisit the industrial major. We consider performance cyclical. Hence the worst ranking performers are buy opportunities for us. To prove our point we have matched Compa (CMP) with COMI in a Rieki pair cycle. The oscillator is bottoming suggesting that after falling 14% against CMP, it is time for COMI to outperform against it’s industrial peer.
Even individually (paired against LEU), COMI has a bottoming Reiki. Technically when a stock fails to fall below 0.382 Fibonacci supports, it is showing strength. We continue to look at a reversal on the stock from current levels. The LOSO is negative now. We will wait for a LOSO positive signal to buy COMI for a holding period of few months.
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