mid-cap

Momentum Model Portfolio Rebalancing: EXIT (NASDAQ: POWL) and ENTRY (NYSE: DQ)

Oct 02, 2024 | Team Kalkine

Read Time :5 min

Momentum Model Portfolio Rebalancing: EXIT (NASDAQ: POWL) and ENTRY (NYSE: DQ)

POWL:NASDAQ

Investment Type

Mid - Cap

Risk Level

Action

Rec. Price (US$)

DQ:NYSE

Investment Type

Small-Cap

Risk Level

Action

Rec. Price (US$)

Exit Case: Powell Industries, Inc. (NASDAQ: POWL)

Overview: Powell Industries, Inc. (NASDAQ: POWL) develops, designs, manufactures and services custom-engineered equipment and systems. The Company distributes, controls and monitors the flow of electrical energy and provides protection to motors, transformers and other electrically powered equipment. POWL has been a part of the 'Momentum Model Portfolio' since Aug 26, 2024. Therefore, an 'Exit' stance from the Momentum Model Portfolio is recommended on the stock at the close price of USD 228.51 as on Oct 1, 2024.

POWL’s Daily Chart

New Entry Case: Daqo New Energy Corp. (NYSE: DQ)

Overview: Daqo New Energy Corp. (NYSE: DQ) is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon.

Technical Analysis: On the daily chart, DQ's price has bounced back from key support levels and is now climbing higher, suggesting a potential near-term uptrend. This upward trend is further supported by signs of the company's bottoming out, indicating a possible breakout from its current consolidation phase. As the company continues to demonstrate resilience and stability, the likelihood of a sustained uptrend increases, potentially leading to a retest of its previous highs.

DQ is recommended as a new entry in the 'Momentum Model Portfolio' as on Oct 1, 2024. Considering the technical analysis, support and resistance levels, an 'Entry' is recommended in the 'Momentum Model Portfolio' at the Close Price of USD 20.71 as on Oct 1, 2024.

DQ’s Daily Chart

Support and Resistance Summary

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of Oct 1, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.

Small-Cap

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