Beauty, Fashion, and Dating Stocks Get a Makeover in 2024?
2023.12.28 02:07
According to Wikipedia,
“Self-help or self-improvement is a self-directed improvement of oneself—economically, physically, intellectually, or emotionally—often with a substantial psychological basis.”
To quote Raymond Lo yet again,
“The Dragon is considered a ‘Star of Arts.’ The industries that will perform better in the year of the Dragon will be industries related to Metal element and Wood element. Metal industries are beauty, and skin care. Wood industries are media, fashion….”
This got me thinking about the consumer and the habits of 2023 and how they could continue or change in 2024.
With the amount of disposable income still quite high, consumers who spent the last half of 2023 in YOLO or revenge spending, go into vanity mode in 2024.
Fashion, beauty, skincare, elective surgeries, self-help, diet drugs, and maybe even dating stocks do well.
Think of it as a switch from all about my family and fun for them to all about me and feeling good about myself!
On our list of stocks to watch for skin care, beauty, and fashion:
- Coty Inc (NYSE:)
- Estee Lauder Companies Inc (NYSE:)
- ELF Beauty Inc (NYSE:)
- Ulta Beauty Inc (NASDAQ:)
- Inter Parfums Inc (NASDAQ:)
- Nu Skin Enterprises Inc (NYSE:)
- Ralph Lauren Corp Class A (NYSE:)
- TJX (NYSE:)
Plus, PVH (NYSE:) and Tapestry Inc (NYSE:).
For cosmetic surgery we are watching
- Allergan (NYSE:) (now part of AbbVie (NYSE:)): Allergan is known for products like Botox, Juvederm, and CoolSculpting
For diet drugs
Other areas to watch
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ETF Summary
- S&P 500 (SPY) 480 all-time highs 465 underlying support
- Russell 2000 (IWM) 200 pivotal
- Dow (DIA) Needs to hold 370
- Nasdaq (QQQ) 410 pivotal
- Regional banks (KRE) 47 support 55 resistance
- Semiconductors (SMH) 174 pivotal support to hold this month
- Transportation (IYT) Needs to hold 250
- Biotechnology (IBB) 130 pivotal support
- Retail (XRT) The longer this stays over 70.00 the better!
