Market Overview

Oppenheimer Is Watching These 5 Consumer Discretionary Stocks...And They're Bullish


In a recent report, analysts at Oppenheimer took a technical look at the market and chose some of their favorite stocks in different sectors based on what they see in the charts.

Analysts like what they see in the consumer discretionary space, and five charts stood out to them as particularly bullish.

Consumer Discretionary Select Sector SPDR ETF (NYSEMKT: XLY)

Before discussing individual names, analysts point out the bullish nature of the Consumer Discretionary SPDR ETF's chart. Analysts note the long-term uptrend in the ETF relative to the S&P 500 that goes all the way back to 2008.

They also believe that, after a broad consolidation phase since mid-2013, the XLY is now ready to move to new relative highs.

Lennar Corp (NYSE: LEN)

Housing is a favorite domestic discretionary theme for Oppenheimer, and analysts like Lennar on the strength of a technical breakout. After the stock recently broke above a resistance level that had held for about two years, it has pulled back slightly.

Related Link: 9 Financial Stocks Oppenheimer Expects To Break Out

Analysts believe that the previous resistance level could now be support for the stock, and investors should consider buying any dips.

DR Horton Inc (NYSE: DHI)

Analysts point out that DR Horton is currently testing resistance that dates back nearly eight-years. They believe the stock is a compelling breakout candidate after consolidating for more than two years.

Starbucks Corp (NYSE: SBUX)

Starbucks recently broke out above resistance levels that have been in place since late 2013. The stock also broke out of a flag formation versus the consumer discretionary sector that dates back to 2012.

Marriott International Inc (NYSE: MAR)

Similar to Starbucks' multiple breakouts, analysts like Marriott's recent breakouts on both a standard price chart and a chart versus the sector as a whole.

Latest Ratings for XLY

Jul 2020DesjardinsInitiates Coverage OnBuy

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