This financials stock looks strong as the market stages a recovery

If this “risk on” group is performing well, it’s often a good time to buy stocks. [Justin Spittler's Trade of the Week] This financials stock looks strong as the market stages a recovery Today, we’re buying into $23 billion capital markets company Tradeweb Markets (TW). Last month, clients traded $42 trillion in volume across its platforms. We’re picking up shares today for a couple reasons... For one, the broad stock market has recovered in a major way. Yesterday, the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) both reclaimed their 50-day moving averages. This was driven by strong performances in technology, communications, consumer discretionary, and financials stocks. These are “risk on” groups. If they’re performing well, it’s often a good time to buy stocks. Tradeweb’s chart is also very bullish. As you can see below, Tradeweb broke out to new all-time highs back in February. It’s been consolidating above those prior cycle highs. This is perfectly normal behavior. It’s a stock’s way of flipping prior resistance into support. Source: StockCharts ([click to enlarge]() TW’s consolidation pattern appears to be over. Instead, it looks like it’s just begun its next major leg up. I suggest picking up a starter position in TW today. I believe the stock could hit $155 within the next 12–18 months. Exit your position if TW closes below $101. That gives us a risk-reward ratio of 4:1 on this trade. Action to take: Buy TW at current market prices. Risk management: Exit your position if TW closes below $101. Justin Spittler Chief Trader, RiskHedge Suggested Reading... [Get Justin's premium trades with RiskHedge Live](  [Taken to the AI slaughterhouse]( If someone forwarded you this email and you would like to be added to our email list to receive Justin Spittler's Trade of the Week every week, [simply sign up here.]( This email was sent to {EMAIL} as part of your subscription to Justin Spittler's Trade of the Week. To opt-out, please visit the [unsubscribe page](. [READ IMPORTANT DISCLOSURES HERE.]( YOUR USE OF THESE MATERIALS IS SUBJECT TO THE TERMS OF THESE DISCLOSURES. Copyright 2024 RiskHedge. All Rights Reserved RiskHedge | 1417 Sadler Road, PMB 415 | Fernandina Beach, FL 32034