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5 Stocks With Recent Price Strength to Boost Your Portfolio
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Wall Street is firing on all cylinders exhibiting an impressive recovery after September’s turmoil. The October job data from the Department of Labor, a new set of data on a COVID-19 vaccine and positive development on a government infrastructure bill have been boosting optimism.
Consequently, the northbound journey of the U.S. stock markets continued despite mounting inflationary pressure, which touched a three-decade high in October. Several stocks have surged in the past month. Notable among them are Marathon Digital Holdings Inc. (MARA - Free Report) , Veritiv Corp. , Bluegreen Vacations Holding Corp. , Materion Corp. (MTRN - Free Report) and Clearfield Inc. (CLFD - Free Report) .
Meanwhile, four factors are likely to drive Wall Street’s impressive bull run in the rest of 2021. These include strong projections for holiday sales in 2021, robust U.S. corporate profits, Biden's infrastructure plan and solid U.S. GDP growth.
Here’s How We Arrived at the Picks
We have primarily targeted stocks that have freshly been on a bull run. Stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Screening Parameters:
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to just 13.
Let’s discuss our five picks out of the 13 stocks:
Marathon Digital Holdings is a digital asset technology company which mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdings’ stock price has soared 61.4% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for MARA's current-year earnings has improved 13.6% over the past 60 days.
Veritiv operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally.
Veritiv stock price has jumped 61.3% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for VRTV’s current-year earnings has improved 22.1% over the past 30 days.
Bluegreen Vacations Holding operates as a vacation ownership company. BVH markets and sells vacation ownership interests and manages resorts in leisure and urban destinations, including Orlando, Las Vegas, Myrtle Beach, Charleston and New Orleans, and others.
Bluegreen Vacations Holding’s stock price has climbed 31.8% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 18.3% over the past seven days.
Materion is engaged in the production and supply of high-performance engineered materials in the United States and internationally. MTRN operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
The stock price of Materion has advanced 29.4% in the past four weeks. It has an expected earnings growth rate of 88.7% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 13.3% over the past 30 days.
Clearfield manufactures, markets and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises and original equipment manufacturers markets in the United States and internationally.
The stock price of Clearfield has surged 27.8% in the past four weeks. It has an expected earnings growth rate of 25.9% for the current-year (ending September 2022). The Zacks Consensus Estimate for CLFD's current-year earnings has improved 8.8% over the past seven days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial to day. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
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.
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5 Stocks With Recent Price Strength to Boost Your Portfolio
Wall Street is firing on all cylinders exhibiting an impressive recovery after September’s turmoil. The October job data from the Department of Labor, a new set of data on a COVID-19 vaccine and positive development on a government infrastructure bill have been boosting optimism.
Consequently, the northbound journey of the U.S. stock markets continued despite mounting inflationary pressure, which touched a three-decade high in October. Several stocks have surged in the past month. Notable among them are Marathon Digital Holdings Inc. (MARA - Free Report) , Veritiv Corp. , Bluegreen Vacations Holding Corp. , Materion Corp. (MTRN - Free Report) and Clearfield Inc. (CLFD - Free Report) .
Meanwhile, four factors are likely to drive Wall Street’s impressive bull run in the rest of 2021. These include strong projections for holiday sales in 2021, robust U.S. corporate profits, Biden's infrastructure plan and solid U.S. GDP growth.
Here’s How We Arrived at the Picks
We have primarily targeted stocks that have freshly been on a bull run. Stocks seeing price strength recently have a high chance of carrying the momentum forward.
If a stock is continuously witnessing an uptrend, there must be a solid reason or it would have probably crashed. So, looking at stocks capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, other relevant parameters are needed to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
Screening Parameters:
Percentage Change in Price (4 Weeks) greater than zero: This criterion shows that the stock has moved higher in the last four weeks.
Percentage Change Price (12 Weeks) greater than 10: This indicates that the stock has seen momentum over the last three months. This lowers the risk of choosing stocks that may have drawn attention due to the overwhelming performance of the overall market in a very short period.
Zacks Rank 1: No matter whether market conditions are good or bad, stocks with a Zacks Rank #1 (Strong Buy) have a proven history of outperformance. You can see the complete list of today’s Zacks #1 Rank stocks here.
Average Broker Rating 1: This indicates that brokers are also highly hopeful about the stock’s future performance.
Current Price greater than 5: The stocks must all be trading at a minimum of $5.
Current Price/ 52-Week High-Low Range more than 85%: This criterion filters stocks that are trading near their respective 52-week highs. It indicates that these are strong enough in terms of price.
Just these few criteria narrowed down the search from over 7,700 stocks to just 13.
Let’s discuss our five picks out of the 13 stocks:
Marathon Digital Holdings is a digital asset technology company which mines cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdings’ stock price has soared 61.4% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for MARA's current-year earnings has improved 13.6% over the past 60 days.
Veritiv operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States, Canada, Mexico, and internationally.
Veritiv stock price has jumped 61.3% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for VRTV’s current-year earnings has improved 22.1% over the past 30 days.
Bluegreen Vacations Holding operates as a vacation ownership company. BVH markets and sells vacation ownership interests and manages resorts in leisure and urban destinations, including Orlando, Las Vegas, Myrtle Beach, Charleston and New Orleans, and others.
Bluegreen Vacations Holding’s stock price has climbed 31.8% in the past four weeks. It has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 18.3% over the past seven days.
Materion is engaged in the production and supply of high-performance engineered materials in the United States and internationally. MTRN operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
The stock price of Materion has advanced 29.4% in the past four weeks. It has an expected earnings growth rate of 88.7% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 13.3% over the past 30 days.
Clearfield manufactures, markets and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises and original equipment manufacturers markets in the United States and internationally.
The stock price of Clearfield has surged 27.8% in the past four weeks. It has an expected earnings growth rate of 25.9% for the current-year (ending September 2022). The Zacks Consensus Estimate for CLFD's current-year earnings has improved 8.8% over the past seven days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial to day. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
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.