PEAK - MKM Partners highlights 10 sector buy/sell pair trades
The technical research team at MKM Partners comes out with pair trade ideas for ten sectors. "Sentiment continues to be extremely washed out," J.C. O'Hara, chief market technician, wrote in a note Tuesday. "This sort of investor behavior has historically preceded a bounce, which is exactly what happened." "The bear market bounce, which started late May, paused right where it should, under heavy technical resistance at 4,200 on the S&P 500 (SP500) (SPY). Bottoming behavior takes time, thus patience is required. This week we turn our attention to pair trade ideas." The trades are: Communication Services (XLC) - Buy T-Mobile US (TMUS) with techincal target $150. Sell Comcast (CMCSA) with technical target $36. Consumer Discretionary (XLY) - Buy Genuine Parts (GPC) with target $158. Sell Whirlpool (WHR) with target at $138. Consumer Staples (XLP) - Buy Monster Beverage (MNST) with target at $99. Sell Church & Dwight (CHD) with target
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MKM Partners highlights 10 sector buy/sell pair trades