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If their drugs continue to help people to lose weight, LLY and NVO could continue to gain. The risk is that any finding suggesting that these drugs designed for diabetes turn out to produce other harms could rapidly deflate these shares. For now, it is onward and upward for LLY and NVO. Note the GLB in August by NVO on huge volume. LLY had a GLB in April. Both stocks have almost doubled their lows the past year. Their chart patterns are almost identical. The late William O’Neil made a fortune buying Syntex, the developer of birth control pills. Buying disruptive technology can work! NVO has a MarketSmith comp rating=99 and LLY=98.

IOT had a GLB (green line break-out) to an ATH on Tuesday on above average volume. Will it hold in a weak market? It has a MarketSmith Comp rating=96 and RS=98. IOT is just starting to earn a profit. If it closes below the green line at 31.41 it would be a failed GLB and time to exit. If it then retakes its green line I would buy it back.

Here is its promising monthly chart. It was an IPO in 2021.

Stocks are sorted by close/minimum price last 250 days. For example, VRT is 4.2x its yearly low price. If the market holds, some of these stocks may turn out to be true market leaders.

ELF does it again, see monthly chart. Note GLB.(green line break-out)in  July, 2022.