In a new technical analysis market report, Oppenheimer analyst Ari Wald discusses the firm’s top stock in each of nine market sectors. The picks are based on technical analysis of the stocks’ charts, and Oppenheimer ranks each sector from strongest to weakest.
1. Technology – Intuit Inc. INTU 1.54%
Analysts still see technology as the top sector with the most technical momentum. Intuit is the top pick in the space, and the stock has strong, well-defined support lines and recent breakouts in both its traditional price chart and a chart versus the application software segment.
2. Healthcare – Cigna Corporation CI 0.46%
Analysts also see Healthcare riding high from a technical perspective. Much like Intuit, Cigna has strong support and recent breakouts on both its standard chart and its chart versus the healthcare providers and services segment.
3. Consumer Discretionary – CarMax, Inc KMX 0.51%
The improving economy and low gas prices have left American consumers with a lot of extra spending money, and the Consumer Discretionary sector has been hot as of late. After forming…
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