Timing the market is a fools errand. We have all succeeded once and thought for a second we knew exactly what we were doing, only to be reminded, no one has a clue where the market is headed.
What we can do, however, is spot trends and use those trends to help us decide.
Momentum is one of those trends that are hard to ignore. Stocks don’t go up in straight lines, but in pretty well-defined patterns.
The 3 stocks I am going to share with you today are going to probably (maybe) buck the current dip trend because they have showed long term momentum.
Here they are…
WEC Energy (WEC)
Utility stocks are a relatively safe play most of the time, and while they are not considered growth stories, they do offer stable dividends, even if they act more likes bonds at the day’s end.
WEC serves a big portion of the mid-west, and it is that type of obscurity helps it remain off the radar that other higher profile names enjoy so much. With no pattern irregularities to speak of, it bounces between levels of support and resistance.
United Parcel Services (UPS)
If a pullback does come for this stock, back up the money truck.
Over the past 7-10 years, UPS has been a relatively safe BTFD stock name. It goes through the usual nerve-wracking dips, but in the end, the right dip adds measurable gains to the smart investor.
Goldman Sachs (GS)
Probably one of the most well-known, well-discussed, overwatched bell-weather stock when it comes to the banking industry and the economy as a whole, GS is not immune to the gut-wrenching sell-off.
With that being said, huge sell-offs like last years 50% tumble, allows chart watchers to understand that with GS, any sell-off will usually be met with a return to their respective corner, where in almost all instances they come back harder each and every time.
Current support lines are aiding in this premise and should be an opportunity for a BTFD.