‘Made in USA’ stock picks: Traders share their favorites this July 4 weekend

FAN Editor

Dollar General looks best in breed to Boris Schlossberg, managing director of FX strategy at BK Asset Management.

“The dollar store concept has not only survived the retail apocalypse but has thrived within it. The whole sector is projected to grow well into the future but Dollar General is projected to grow 20% on a year-on-year basis. They execute tremendously well,” Schlossberg said on Friday.

He adds that with rising inflation, Dollar General and other dollar stores may broaden its appeal with consumers.

“Dollar General seems to be a very, very strong secular growth story. It’s an expensive stock, but for a good reason. And if you have an 18- to 24-month timeframe, I think you’re going to be served very well by it because I think there’s nothing but just further growth in that sector in that particular name,” said Schlossberg.

Craig Johnson, chief market technician at Piper Sandler, is looking to the homebuilders for his pick.

“I got to go with the American Dream – homeownership,” Johnson said during the same segment. “Look at the chart of D.R. Horton… Here’s a stock that has done very well year to date. It’s actually outperformed the S&P by about 2x.”

“Now it looks like the stock is starting to consolidate. We broke the shorter term uptrend support line in here off of the lows from last year, and now we’re just consolidating sideways,” he said.

Johnson sees the potential for the stock to move back up to old highs at roughly $107, around 15% upside. The downside would be to fall back to recent lows around 5% lower.

“We got roughly a three-to-one risk-reward here,” he said.

D.R. Horton closed Friday at $92.36 a share.

Disclaimer

Free America Network Articles

Leave a Reply

Next Post

Surfside mayor says rest of condo building to be demolished "as soon as possible"

Surfside mayor says rest of condo building to be demolished “as soon as possible” – CBS News<!–http://vidtech.cbsinteractive.com/avia-js/1.6.0/player/avia.min.js http://vidtech.cbsinteractive.com/avia-js/1.6.0/plugins/ui/avia.ui.min.js –> Watch CBSN Live Charles Burkett says workers are planning to bring down the remaining section of the collapsed building “as soon as possible.” View CBS News In Be the first to […]