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Zacks.com featured highlights include: Hasbro, Atkore International, Target, Hibbett Sports and Bristol-Myers Squibb

Zacks Equity Research

For Immediate Release

Chicago, IL – October 18, 2019 - Stocks in this week’s article are Hasbro Inc. HAS, Atkore International Group Inc. ATKR, Target Corp. TGT, Hibbett Sports, Inc. HIBB and Bristol-Myers Squibb BMY.

5 High-Flying Stocks Near 52-Week Highs that Can Scale Higher

A 52-week high generally serves as an indicator for investors as stocks near that level are perceived to be winners.

Notably, investors often wonder if the stock is overpriced considering the high price. While the apprehensions are not absolutely baseless, all stocks hitting a 52-week high are not necessarily overpriced.

In fact, an investor might miss out on top gainers in an attempt to avoid the steep prices of stocks that are near their 52-week high mark.

A stock can maintain the momentum and keep scaling new highs. So, one should take a more informed approach to understand if further upside is left.

Here we discuss a strategy to find the right stocks.

Borrowing from the basics of momentum investing, this technique bets on “buy high, sell higher.”

52-Week High: A Good Indicator

Many a time, stocks hitting a 52-week high fail to scale higher despite having potential. This is because investors fear that the stocks are overvalued and a price crash is impending.

In fact, overvaluation is natural for most of these stocks as investors’ focus (or willingness to pay premium) has helped them reach the level. But that does not always indicate an impending decline. Factors such as robust sales, surging profit levels, earnings growth prospects and strategic acquisitions that encouraged investors to bet on these stocks could keep them motivated if there is no tangible negative. In other words, the momentum might continue.

Also, when a string of positive developments dominates the market, investors find their under-reaction unwarranted, even if there are no company-specific driving forces.

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/569059/5-highflying-stocks-near-52week-high-that-can-scale-higher

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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Strong Stocks that Should Be in the News

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

 

 

 

                                                                                     


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Atkore International Group Inc. (ATKR) : Free Stock Analysis Report
 
Bristol-Myers Squibb Company (BMY) : Free Stock Analysis Report
 
Target Corporation (TGT) : Free Stock Analysis Report
 
Hibbett Sports, Inc. (HIBB) : Free Stock Analysis Report
 
Hasbro, Inc. (HAS) : Free Stock Analysis Report
 
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