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Payne's Picks

Why I See Another Buying Opportunity in SIG’s Chart

By Payne's PicksFOXBusiness

Can Signet Jewelers’ shares brighten your portfolio?

FBN’s Charles Payne, Belpointe Asset Management Chief Strategist David Nelson, Plimsoll Mark Capital Managing Director Jim Awad, Tea Party News Network News Director Scottie Nell Hughes and small business expert Susan Solovic debate the outlook for Signet Jewelers.

Let’s talk about Signet Jewelers (NYSE:SIG).

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I talked about this stock on the show before. After that, it actually pulled back. It had a mixed earnings report. You can see on the chart (watch the video above) where it dipped after I mentioned it. Look now at the end of the chart. It is starting to come up.

It's starting to pick up volume. I think this thing is extremely over sold. They own Jared, they own Zales -- in fact, they have a monopoly on the lower-end product. Some of them are outside in the malls, some of them are inside. This is a name I like, particularly over the next six months or longer.

If you didn't buy it, I think this is a great opportunity to buy it, particularly if you're a long-term buy-and-hold person.DISCLOSURES

What do you think?

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