US Foods: #PowerStocks Series Pick Of The Week (January 2024)

Do you find fried food irresistible? Especially the smell of food being fried. I'm a sucker for all things fried and fragrant. Before I go hunting for food, let's conduct a quick review of last week's stock pick: Public Storage (PSA).

Review Of Last Week's Pick Of The Week

Source: publicstorage.com

Public Storage's share price has dropped slightly below $296 and bounced. There's no entry yet based on the Art of Explosive Profits strategy. However, the time could be here this week, so I'll closely monitor this stock. With that, why is US Foods (USFD) our #PowerStocks pick of the week?

Why Is Swing Trading US Foods (USFD) Worth It?

Source: www3.usfoods.com

US Foods (USFD), this week’s #PowerStocks pick of the week, supplies fresh, frozen, and dry food and non-food products in the US. Traders and investors are optimistic about its shares. This can be inferred from its strong uptrend and superior performance against the overall US stock market. In addition, its shares have been exploding upward in price repeatedly in a short amount of time. Given these pointers, let’s analyze its shares! P.S.: What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs US Foods (USFD)

Do you want the stock you trade to bring in a higher return than the S&P 500? I'm sure that you do! Therefore, it's a good idea to compare US Foods' share performance against the S&P 500 before deciding. Referring to the comparison chart above, can you tell that both the share price of US Foods and the S&P 500 are in a strong uptrend? Can you also tell that the share performance of US Foods is far superior to the S&P 500? It looks like you have found a worthy stock to conduct a deeper analysis on!

How Explosive Is US Foods (USFD)?

Since you're looking to swing this stock for a few days to weeks, it's in your favor that the shares of US Foods are explosive. So, let's find out! In the past 10 months, US Food's share price has exploded 15 times! For a $11b company, this is impressive! Here comes the million-dollar question: Should you buy its shares for a swing trade now?

Key Price Levels

Here, let's uncover the key price levels of US Foods's shares. Yes, key price levels function as support and resistance zones, so you'll want to be aware of them. I've identified a support area at ~$45. After a run-up of 8%, I foresee a pullback happening real soon. This is another reason to wait for its share price to fall to ~$45 before considering entering a swing trade.

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The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!