For Immediate Release
Chicago, IL – May 13, 2020 - Stocks in this week’s article are ThermoGenesis Holdings Inc. (THMO - Free Report) , Minerva Neurosciences Inc. (NERV - Free Report) , Sprout Social Inc. (SPT - Free Report) , Black Diamond Therapeutics Inc. (BDTX - Free Report) and Zynex Inc. (ZYXI - Free Report) .
5 Stocks with Recent Price Strength Amid Disappointing Data
The Wall Street rally which commenced on Mar 24 has not shown any sign of retreat. Many economists and financial researchers have called this a "bear-market rally." What is remarkable here is that the rally is crossing one hurdle after another such as disappointing economic data and deteriorating corporate earnings. The latest hindrance in the path of the rally came in the form of April’s skyrocketing payroll decline, which it again managed to override last week.
Notably, last month was an impressive one for Wall Street. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — rallied 11.1%, 12.7% and 15.5%, respectively, in April. For both the Dow and the S&P 500, it was the best April since 1938 while the Nasdaq Composite witnessed the best April in its history.
Meanwhile, several U.S. states are considering opening the economy restricting lockdown measures. Major Eurozone countries are also preparing to return to economic normalcy as the coronavirus pandemic stabilizes.
At this stage, wouldn’t it be a safer strategy to look for stocks that are winners and have the potential to gain further?
Sounds Good? Here’s How to Execute It:
One should primarily target stocks that have recently been on a bull run. Actually, 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 else it would have probably crashed. So, looking at stocks that are capable of beating the benchmark that they have set for themselves seems rational.
However, recent price strength alone cannot create magic. Therefore, you need to set other relevant parameters to create a successful investment strategy.
Here’s how you should create the screen to shortlist the current as well as the potential winners.
For the rest of this Screen of the Week article please visit Zacks.com at:https://www.zacks.com/stock/news/921086/5-stocks-with-recent-price-strength-amid-disappointing-data
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