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Oppenheimer analysts published their top buy-sell sector pairs in a recent Technical Analysis report.
In this list, they pair a top buy idea and a top sell idea from stocks of the S&P 500 (SP500).
According to analysts, the market could experience a broad-base breakaway instead of a cycle’s end.
“This is because along with narrow breadth at a major top, we’ve found weakness is typically concentrated too — a ‘culprit’ sector is often already down 20% year-over-year,” analysts said.
Utilities (XLU) are the worst performers with a 4% loss over the last year.
These are the sector pairs:
- In energy (XLE): Buy Diamondback Energy Inc. (FANG); Sell Chevron Corp. (CVX)
- In materials (XLB): Buy Steel Dynamics Inc. (STLD); Sell Sealed Air Corp. (SEE)
- In industrials (XLI): Buy Quanta Services Inc. (PWR); Sell CNH Industrial N.V. (CNHI)
- In consumer discretionary (XLY): Buy Lululemon Athletica Inc. (LULU); Sell Starbucks Corp. (SBUX)
- In consumer staples (XLP): Buy Target Corp. (TGT); Sell British American Tobacco p.l.c. (BTI)
- In health care (XLV): Buy Regeneron Pharmaceuticals Inc. (REGN); Sell West Pharmaceutical Services Inc. (WST)
- In financials (XLF): Buy Blackstone Inc. (BX); Sell Prudential Plc (PUK)
- In real estate (XLRE): Buy Equinix Inc. (EQIX); Sell VICI Properties Inc. (VICI)
- In technology (XLK): Buy Monolithic Power Systems Inc. (MPWR); Sell Cisco Systems Inc. (CSCO)
- In communication services (XLC): Buy T-Mobile US Inc. (TMUS); Sell Paramount Global (PARA)
- In utilities (XLU): Buy Constellation Energy Corp. (CEG); Sell Eversource Energy (ES)