HD and XOM appear to be headed in opposite directions
A strong first half of the year suggests prolonged tailwinds on Wall Street, according to Schaeffer's Senior Quantitative Analyst Rocky White. That seems to be particularly true for home improvement retailer Home Depot Inc (NYSE:HD), which is on a list of the best 25 stocks to own in the next six months, historically. On the other side of the coin is Exxon Mobil Corp (NYSE:XOM), which is among the worst.
White's Data shows HD finished the latter half of the year higher 90% of the time over the past decade, averaging a 13.3% gain. Meanwhile, XOM ended 70% of the last 10 second halves lower, and averaged a 3% loss.
Home Depot stock is down 0.3% to trade at $332.60 at last check, after facing rejection at the $345 level. Shares still sport a 10.5% year-over-year lead, however, after surging to a March 21, two-year high of $396.79. A familiar floor at the $325 level also looks ready to contain any additional pullbacks.
Last seen down 0.5% to trade at $114.30, Exxon Mobil stock is also among the worst names to own in July. XOM has struggled with a ceiling at $120 since taking a breather from its April 12, record high of $123.75, while the 80-day moving average moved in as resistance in June.