Ford stocks haven’t done so in 6 years, says chart analyst

Wall Street analysts are doubling down on their demands for a resumption of consumer spending.

Barclays, Credit Suisse, and Wells Fargo released notes on Monday highlighting their excitement for several consumer stocks, with Barclays reaffirming its positive view on TJX companies, Credit Suisse updating Tapestry to outperform, and Wells Fargo increasing its ratings on some high-profile lifestyle companies.

Wells Fargo analysts said they “have never seen the consumer emerge so strong from a recession, “leading McDonald’s, Starbucks, Chipotle, Yum Brands, Darden and Marriott to overweight.

Another name could be riding a return to consumer spending, Katie Stockton, founder of Fairlead Strategies and managing partner, told CNBC’s “Trading Nation” Monday.

“I would like to see a pullback in the higher flyers in the consumer discretionary space, the names that are in long-term bullish trends and also the names that have seen long-term trend reversals at the end of last year, names like Ford,” Stockton said, citing a chart of the automaker’s stock.

After a “value-based breakout” in the fourth quarter of 2020, the stock showed “a very good upside following,” Stockton said.

“Now it has a positive long-term momentum …

Read More On Original Publisher

This Content is Original Published by @www.cnbc.com