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Posted December 12, 2024 at 9:23 am
From SIA Charts
1/ Newell Brands Inc. (NWL)
2/ Index Report
3/ Point and Figure Chart
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Newell Brands Inc. (NWL)
Courtesy of SIA Charts
Newell Brands Inc. (NWL), a company with a market capitalization of $4.81 billion, is an American manufacturer, marketer, and distributor of consumer and commercial products. Its stock has shown strong positive performance in the past quarter, rallying by 65.47%. During this time, shares of NWL have steadily moved up in the SIA Russell 1000 Index report, of which it is a constituent. The first chart attached clearly illustrates this movement, which contrasts sharply with the past several years, when it was positioned in the Unfavored (red) zone of the report. Currently, it has reached position #14, representing an impressive 151-place jump in the past month and 812 places in the past quarter. Year-to-date, shares of NWL have produced a return of 38.90%, following a significant period of underperformance earlier in the year.
Index Report
The significance of this rally is further highlighted in the attached table, which presents the top 50 positions in the SIA Russell 1000 Index Report. Here, the YTD return numbers have been emphasized, with many companies showing impressive returns exceeding 75%. However, a few names, marked in red, still show negative YTD returns, indicating that some are still catching up to the impressive performance of others. Newell Brands, with its 38.90% YTD return, remains one of the lowest performers among the top 50, likely due to its relatively recent rise.
Courtesy of SIA Charts
Point and Figure Chart
The third attachment, a 2% point-and-figure chart, offers a better understanding of the stock’s positioning and the significance of the latest rally. This chart clearly shows the large pullback in NWL’s price over the past four years, which is further emphasized with the SIA report overlay tool. The tool reveals that NWL had been in the Unfavored (red) zone, as indicated by the red oval. This has now changed, with the stock moving into the Favored (green) zone and breaking through resistance (now support) at $8.58. Having risen to the current level of $11.63, NWL is approaching the next levels of resistance at $12.01 and $12.75. Beyond these, the upper resistance level stands at $15.54. Support for the stock is now at $10.67, which corresponds with the 3-box reversal on the point-and-figure chart and a support zone that emerged in 2023. Additional support levels are found at $9.29 and again at the breakout point at $8.58, marked in green on the chart. Newell Brands boasts a perfect SMAX score of 10 out of 10, a technical indicator of near-term strength relative to other asset classes.
Courtesy of SIA Charts
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Originally posted 12th December 2024
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