Most of us hear the dict that “trends are your friends.” And this is definitely the key to success when it comes to short-term investments and trading. However, ensuring the sustainability of trends and profits is not easy.
In many cases, the direction of price movement of a stock is quickly reversed after gaining position within it, causing short-term capital losses for investors. Therefore, it is important to ensure that there are sufficient factors, such as healthy basics and revisions to positive earnings estimates that could potentially maintain stock momentum.
The “Recent Price Strength” screen created with a unique short-term trading strategy can be extremely useful in this regard. This pre-defined screen makes it very easy to finalize inventory with sufficient basic strength to maintain recent uptrends. The screen also passes only stocks trading at the top of the 52-week high range. This is usually a bullish indicator.
There are some stocks that have passed through the screen,
(bckiy) is one of them. Here are the main reasons why this stock is a solid option for “trend” investments:
The solid price rise over a 12-week period reflects investors’ continued willingness to pay more for the potential benefits of the stock. BCKIY is very suitable in this regard, earning 62.3% over this period.
However, looking at the price change over the roughly three months is not sufficient, as it does not reflect a reversal of trends that may have occurred in a short time frame. It is important for potential winners to maintain price trends. A price rise of 35.5% over the past four weeks guarantees that the company’s stock trends are still in place.
Additionally, BCKIY is currently trading at 101.6%, a 52-week high range, suggesting it is on the breakout crisis.
Looking at the basics, the stocks currently carry Zacks Rank #2 (Purchase). That is, it reaches the top 20% of over 4,000 stocks ranked based on estimated revenue revisions and surprising trends in EPS.
Zacks uses four factors that classify the four factors associated with revenue estimation into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell).
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