Weight-loss drug users are stocking up on protein — buy nutrition and supplement
Thesis
Millions of people taking weight-loss drugs are shifting their diets to prioritize high protein intake to avoid losing muscle mass. This sudden lifestyle shift is translating into huge sales numbers for nutrition and supplement companies like Glanbia. As long as the prescription of these weight-loss drugs continues to trend up, the demand for protein powder should follow suit. Getting behind the secondary beneficiaries of the weight-loss drug craze offers a smart way to ride this consumer trend.
Strategy approach
Build a rule-based strategy that enters long GLN (Glanbia PLC) on the daily timeframe when the stock price closes above its 20-day simple moving average and the 14-day RSI is between 50 and 70. Use a 5% trailing stop loss and exit if the price closes below the 20-day SMA.