Spinoff City:
Normally when looking at the industrial space we take a look at some of the more familiar names in FDX and UPS, which quite frankly are a bit concerning. But today let us take a look at a few newcomers. With all the chatter about how utilities are becoming “growth” stories, CTRI was just spun off from SWX. Some classify it as an energy name, some an industrial with a slant on infrastructure, and this really should just be kept on a watch list as it is just one month old but it has traded in a very taut range and a break and CLOSE above 25.75 can be bought. ATMU, a recent spinoff from CMI, has acted well POST breakout from a 25.49 cup base pivot from 3/13 and then recently touched its upward-sloping 50-day SMA for the first time following the breakout, often an ideal entry add-on buy point. One can look to purchase now with a buy stop above a double bottom pivot of 31.62. Below is the chart of VLTO, a spinoff from DHR, and it now trades at “52-week” highs (has been trading since last Q3 2023) and has seemingly traded straight up since a strong 4-week losing streak last October as seen here on the WEEKLY. Since the overall market bottom in late October-early November it has lost ground on a WEEKLY basis just 9 times.