Monday looked poised to mark the continuation of a huge selloff that started early last week, with the Nasdaq down over 2.5% at one point. But buyers stepped in as it started to get closer to its 200-day moving average and the tech tech-heavy index eventually closed the day slightly positive. The heavy selling to start 2022 was driven by growth names that are more sensitive to higher interest rates. Wall Street started selling more heavily last week after the Fed signaled it could start raising interest rates sooner in a far more hawkish turn amid rising prices. The tech rebound that began Monday afternoon continued Tuesday, with the Nasdaq up 1.2% through early afternoon trading. Meanwhile, the S&P 500 popped 0.65% to climb back above its 50-day moving average once again, as Wall Street appears to be comfortable with that resistance level (or around there) for the benchmark over the past year. The recent bounce back might signal investors are finding it hard to imagine stocks won’t remain the best place to park their money even if interest rates rise more quickly. Plenty of obstacles remain in 2022. Thankfully, many market-moving forces are still rather bullish for stocks. Plus, history suggests Wall Street could be headed for another strong year following its impressive run. With this in mind, let’s dive into a screen that helps find highly-ranked stocks trading at or near their highs. The screen could prove useful for a number of reasons… Image Source: Zacks Investment Research Don't Be Afraid of New Highs Some investors might prefer not to buy stocks at new highs. But if somebody asked you what the best stocks in your portfolio are, it’s likely you would name the stocks moving up the most. The most basic idea is that the winners in your portfolio are the ones going up. If a stock is underperforming the market or going down, you'll quickly identify it as one of your worst holdings. Therefore, it makes sense that some of these stocks will be reaching new highs along the way. Many investors are hesitant to buy stocks making new 52-week highs. But there really isn’t any reason to be. Some may worry that they have already missed the mark at that point, or that now it has more room to fall. Still, a stock making a new 52-week high is a ‘good thing,’ just as one falling to a new 52-week low is a ‘bad thing.’ On top of that, would the person who doesn’t want to buy stocks making new highs be upset if a stock they owned broke out to a new 52-week high? Statistics have also shown that stocks making new highs have a tendency of making even higher highs. And aren’t these the stocks we all dream about? Now obviously, the fundamentals need to be there, and you should try to keep an eye on valuations. But if you were in a stock making new highs and cheering it on, it seems odd to be afraid of one doing the same just because you haven't bought it yet. Think about this: A stock just made a new-52 week high, which is great news. Guess what? Last year it made a new 52-week high as well. And the year before that. And the year before that. Can you imagine all the money you'd be leaving on the table if you were afraid of being in stocks every time they made a new high? Parameters • Current Price/52-Week High greater than or equal to .80 • Percent Change in Price over 12 Weeks greater than 0 • Percent Change in Price over 4 Weeks greater than 0 • Zacks Rank equal to 1 • Price/Sales Ratio less than or equal to Industry Median • P/E (using F1 Estimates) less than or equal to Industry Median • Projected One Year EPS Growth F(1)/F(0) greater than or equal to Industry Median • Current Avg. 20-Day Volume greater than Previous Week's Avg. 20-Day Volume • All of the above parameters are applied to stocks with a Price greater than or equal to $5 and an Average 20-Day Volume of greater than or equal to 100,000 shares. • Percent Change in Price over 12 Weeks + Percent Change in Price over 4 Weeks equal to Top # 5 Here are two of the five stocks that made it through today’s screen… Titan International ( TWI Quick Quote TWI - Free Report) Titan International is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Titan International produces a broad range of products to meet the specifications of original equipment manufacturers and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. TWI shares have skyrocketed recently and are up 70% in the last 12 months to blow away its industry average. Titan International is part of the Zacks Manufacturing-Farm Equipment space that ranks in the top 9% of over 250 of our industries at the moment. TWI’s top and bottom-line growth outlook appears strong and it lands an overall “A” VGM grade at the moment. Hilton Grand Vacations ( HGV Quick Quote HGV - Free Report) Hilton Grand Vacations is a leading global timeshare company headquartered in Orlando, Florida. HGV is one of Hilton’s 18 premier brands and ownership with the company provides best-in-class membership programs, currently offering exclusive services and maximum flexibility for 710,000 owners around the world. Hilton Grand Vacations stock is up 62% in the past year to crush its Hotels and Motels industry that’s in the top 25% of our Zacks industries. Plus, HGV’s growth outlook is strong as people clamor to get away again. Get the rest of the stocks on this list and start looking for the newest companies that fit these criteria. It's easy to do. And it could help you find your next big winner. Start screening for these companies today with a free trial to the Research Wizard. You can do it. Click here to sign up for a free trial to the Research Wizard today. Want more articles from this author? Scroll up to the top of this article and click the FOLLOW AUTHOR button to get an email each time a new article is published. Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance/ .