Katie Stockton says retail stocks could be primed for a counter-trend rally. These stocks may lead the bounce
Retail stocks are stabilizing following their recent correction.
TL;DR
- Retail stocks are stabilizing after a recent correction, with improving short-term momentum.
- The SPDR S&P Retail ETF (XRT) shows signs of short-term downside exhaustion, suggesting a potential temporary recovery.
- Amazon.com (AMZN) has a positive long-term technical outlook and may retest highs.
- Home Depot (HD) is showing signs of a counter-trend rebound after a recent sell-off.