Actionable news
All posts from Actionable news
Actionable news in AAPL: Apple Inc.,

You Better Buy Apple Here, a Top Chart-Loving Analyst Says

Oppenheimer's technical analyst Ari Wald said Monday that he recommends owning technology and financials and selling safety bets such as consumer staples.

Wald said the June rebalance of the iShares MSCI USA Momentum ETF (MTUM) , which he sees as an favorite indicator for the next 10 to 20 years, is a sign that tech and financials are worth buying.

Within the momentum ETF, Wald said he likes Apple Inc (AAPL) , Broadcom Ltd (AVGO) , Bank of America (BAC) , JPMorgan Chase (JPM) , Microchip Technology Inc (MCHP) , Mercadolibre Inc (MELI) , Reinsurance Group of America (RGA) and Regions Financial Corp (RF) .

It's time to sell consumer staples such as food products, which are "exhibiting share distribution and should continue to underperform," Wald said. He cited Archer Daniels Midland Company (ADM) , Conagra Brands (CAG) , Kellogg Co (K) and J.M. Smucker Co (SJM) as stocks to sell.

What's Hot On TheStreet

Here comes the Model 3: Tesla Inc.'s (TSLA) Model 3 has passed regulatory production requirements and the first...