For Immediate Release
Chicago, IL – June 12, 2020 – Stocks in this week’s article are SunOpta Inc. STKL, eXp World Holdings Inc. EXPI, Calix Inc. CALX, Kiniksa Pharmaceuticals Ltd. KNSA and iClick Interactive Asia Group Ltd. ICLK.
5 Stocks with Recent Price Strength on Upbeat Economic Data
Wall Street is witnessing a V-shaped recovery this year. Reopening of the economy and a series of recently released better-than-expected economic data significantly strengthened investors' confidence in U.S. stocks.
Last month's job additions recorded a historic high of 2.5 million and the unemployment rate dropped to 13.3% from 14.7% in April, per the Bureau of Labor Statistics. In addition to job data, growing consumer confidence and higher expectations for the next six months, better than-expected ISM manufacturing and services index, and a solid increase in housing and vehicle sales clearly showed strong pent-up demand.
Moreover, business activities will increase steadily as more people are visiting restaurants, bars and shopping malls, and companies are opening their stores. Additionally, freight trucking activities are gathering pace and airlines are adding to their fleet.
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/977517/5-stocks-with-recent-price-strength-on-upbeat-economic-data
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Calix, Inc (CALX) : Free Stock Analysis Report
SunOpta, Inc. (STKL) : Free Stock Analysis Report
Exp World Holdings, Inc. (EXPI) : Free Stock Analysis Report
iClick Interactive Asia Group Ltd. (ICLK) : Free Stock Analysis Report
Kiniksa Pharmaceuticals, Ltd. (KNSA) : Free Stock Analysis Report
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