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Refiners could see demand crushed by economic slowdown and high rates, Gareth Soloway warns

Refiners could see demand crushed by economic slowdown and high rates, Gareth Soloway warns
Refiners may face sharp declines amid slowdown

Gareth Soloway, chief market strategist at InTheMoneyStocks, warned that refiners, which have been viewed as the new AI momentum stocks, may face significant declines. Soloway predicted that these stocks could see 20%–30% losses over the next 5 months, citing concerns that a rapidly slowing economy, high rates, inflation, and elevated gas and diesel prices will crush demand.

Soloway has recently highlighted other targets for traders. In May, he identified FICO’s price level as a swing trade opportunity, projecting a rebound above $650 based on technical patterns. His latest warning on refiners signals a broader caution around momentum plays.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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