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UK stocks that are worth a look during June 2024

Published 12/06/2024, 09:26
CNA
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AV
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BAES
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MRON
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SGRO
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DPLM
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Unusually, in my experiences over the last 15 years at least, UK and EU stocks appear to have deviated from the U.S. markets.

Traditionally, they are tightly correlated, which is to say that if the US markets coughed, this side of the ocean caught a cold.

I view this disconnect as a really good thing- it doesn’t mean we are becoming immune to the world’s largest economy, but rather that we still have some independence from it.

There are many who dismiss the idea of investing outside of U.S. stocks, because they view it as simply adding on risk via the idea of ‘a rising tide lifts all boats’. By that same logic, investing in U.K. or E.U. stocks is a diverse activity as investing in a variety of U.S. stocks, but with an added layer of distance. So, even by that logic, it’s still worth a gander.

The following are but a few charts that have caught my attention.
They’re not all perfect- some are close to major resistance levels which could hold out, but otherwise, they show some promise.

In no particular order, here they are.

Birg, Bank of Ireland (BIRG)
Good performance this year, but now bumping its head at a key price level, and just above that another historical level worth checking.





Coca Cola HBC (CCH)
Yes, also close to previous major highs, but looking very healthy and more than likely going to reach those old highs soon.



Centrica PLC (LON:CNA)
This one is slightly different in that it is in the early stages of a new bull run. So far, technically speaking, the trend looks healthy and is close to its moving averages which usually means it’s well-priced.




BAE Systems PLC (LON:BAES)
This is a fantastic looking stock, technically speaking, with one exception; it’s overbought- too expensive.
The blue-box area highlights a much better value for me, and at some point I anticipated a correction downwards which will be a cue for me.





Aviva PLC (LON:AV)
A little choppy, but the momentum is way more bullish than bearish. As with others above, there is a major resistance level higher up that will have to be dealt with soon.



Segro PLC (LON:SGRO)
I like this one, because it’s in the early stages of new growth, but has lots of headroom before reaching older highs.




Melrose Industries PLC (LON:MRON)
Overall, despite being close to old highs, the trend appears healthy and momentum is more bullish than bearish.



Diploma PLC (LON:DPLM)
Free for any major resistance at the moment, but definitely overbought for now- this would be on my list once it gets close to the blue-box area in terms of a healthy correction in price and value.



Informa PLC (INF)
Currently in a beautiful trend, but yes, will need to break up through clear historical resistance. It has bullish momentum in its favour.



As usual, I will add them to my portfolio tracker here to monitor their performance over 2024- even if they are over-priced or near resistance. I want to see how they do myself.

https://uk.investing.com/portfolio/?portfolioID=Y2NjMTVlZjk0amtmNWM5OQ%3D%3D

Wherever possible, I’ve used Weekly or Monthly charts to gain a better overview of performance over time.

I’ll continue to look for opportunities during this new bull market, and market corrections, such as the one the markets are going through right now, can provide excellent entry opportunities.

Like this article? Read more from my Investing.com profile here:
https://uk.investing.com/members/contributors/256252463

Disclaimer: Any content in this article is purely financial markets discourse and not financial advice. Please consult a regulated professional before making any financial decisions.

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