Builders FirstSource: #PowerStocks Series Pick Of The Week (October 2024)

Wake me up when September ends. Does the line above sound familiar? This is 1 of the top hits by Green Day. And it's often played on radio during Sep. But I get a little uptight whenever I hear this song because it reminds me that the year is ending, and I still have a list of goals I want to accomplish. Do you also feel a little uptight knowing that the year is ending? Let's work hard and give it our all to end the year well. Ok, back to work. How has Sep been for our #PowerStocks picks shared in Sep 2024?

1. Iron Mountain: Gain of 8%
2. Walmart: No entry
3. ONEOK: Gain of 0%
4. GE Aerospace: No entry

The S&P 500 had a rollercoaster ride in Sep 2024. It had dropped 3.6% before recovering to close 1.38% higher. However, if you'd followed the #PowerStocks picks shared in Sep, you'd be up by 4%! Yes, that's almost 3x more than the returns the S&P 500 had brought. Are you curious how I've uncovered these explosive stocks that consistently outperform the stock market? I share the framework in my masterclass, Explosive Stocks Mastery. Join hundreds of students and enjoy profiting from the market repeatedly, safely, of course! Let's review last week's stock pick: GE Aerospace (GE).

Review Of Last Week's Pick Of The Week

GE Aerospace (GE) was our #PowerStocks pick last week. It's a giant in the aviation and aerospace industry. I was expecting a pullback to around $174, and it's happening. However, I think that the share price of GE Aerospace may undergo a shallower pullback before rising again. Therefore, I'll be watching this new price area before deciding to enter for an explosive swing trade. This new price area is shared in my Telegram Channel.

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Why Is Swing Trading Builders FirstSource (BLDR) Worth It?

Source: investors.bldr.com/overview/default.aspx

Builders FirstSource belongs to the Industrials sector. It supplies and manufactures building materials and components used in homebuilding. Traders are flocking to its stock, pushing its share price up by almost 41% in the last 3 months. This is on the back of a mere 4.6% rise in the S&P 500. How's a 9x outperformance? Here's the best part: the share price of Builders FirstSource looks ready for a new explosive upmove. So, what's the game plan? Continue reading to get the details. 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 amount 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 Builders FirstSource (BLDR)

When considering a stock to buy for an explosive swing trade, you'll want the stock to be in a strong uptrend. Can you tell that the share price of Builders FirstSource is in a massive uptrend from the chart above? You'll want the stock to be stronger than the overall US stock market too. Looking at the comparison chart above, Builders FirstSource's shares have been outperforming the S&P 500 since early Jul 2024. You'll be stunned by the next few sentences. Builders FirstSource's shares have been beating the performance of S&P 500 hands-down! While the S&P 500 rose 4.6% in the last 3 months, Builders FirstSource's shares rose an unbelievable 40.9%! Talk about an 8.8x outperformance!

How Explosive Is Builders FirstSource (BLDR)?

To maximize your trading capital, you'll want the stock in question to make huge upmoves in a short amount of time. I have good news. In the past 11 months, its shares have exploded upwards 17 times! Given that Builders FirstSource enjoys a huge market capitalization of more than $22b, upmoves measuring between 5% and 32.6% are highly impressive! You're wondering why I look at stocks with a huge market capitalization. In short, stocks with a large market capitalization are much tougher to manipulate. Great! So, is it time to buy the shares of Builders FirstSource for an explosive swing trade?

Key Price Levels

To know whether you should buy the shares of Builders FirstSource for an explosive swing trade now, you'll need to uncover its key price levels. These key price levels are also known as support and resistance zones because prices tend to turn at those zones. Did you also identify a support zone around $192? Here's what I really like. Its share price has returned to its support zone and bounced. You may consider entering a smaller position size because the market is overheated. Also, please set a stop loss to protect your trading capital. Here's a pro tip: Instead of staring at your screen, you may want to set a price alert on your broker's platform to be notified so that you can spend precious time with your loved ones. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

Claim Your Free (Limited Time) Stock Course Right Now:

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 quickly gain control over your emotions of fear and greed and master the stock market? 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!