This is a stock screen similar to “Stocks That Are Breaking Down” (but just the exact opposite). A lot of these stocks are positioned for breakouts in the near future. If you are a momentum trader, you have to take a look at the charts of each of these stocks listed below. Each of the stocks below were hand-picked from a list of screen returns of more than 100 stocks/ETF’s. These are the ones that I would consider the best of the best from those returns.
Last time I ran this screen, back on 6/22, I told you to keep a close eye on Actuate Corporation (BIRT) at $5.45, and today it closed at $6.88 for a nice 26% gain, while the other recommendation Badger Meter (BMI) is only up 1% since the recomendation (can’t win them all!). This time around keep a close eye on Children’s Place (PLCE) which has a perfect cup and handle pattern developing that should take off from where it closed at today ($48.38), particularly after closing above the 200-day MA. Also, watch Devon Energy (DVN), which likewise has a similar cup and handle pattern. Should this market rally in earnings season, both of these plays should do very well.
Here are the 20 Stocks Gaining Momentum.
