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Zacks.com Featured Highlights Include: Archer Daniels, AMN, Fluor, Fortinet And National General

Published 04/12/2018, 11:15 PM
Updated 07/09/2023, 06:31 AM

For Immediate Release

Chicago, IL – April 13, 2018 - Stocks in this week’s article Archer Daniels Midland Company (NYSE:ADM) , AMN Healthcare Services Inc (NYSE:AMN) , Fluor Corporation (NYSE:FLR) , Fortinet, Inc. (NASDAQ:FTNT) and National General Holdings Corp (NASDAQ:NGHC) .

5 Stocks Near 52-Week Highs with More Upside in Store

A stock at a 52-week high level is considered a winner. The level works as an indicator for many investors for buying or selling the stock.

More often than not, investors wonder if the high price range has made the stock overpriced. While the apprehensions are not completely groundless, all stocks hitting a 52-week high are not necessarily high-priced.

In fact, in an attempt to avoid stocks that are trading near their 52-week high levels, an investor might miss out on top gainers.

A stock can continue the momentum and keep scaling new highs with time. So, one should take a more informed approach to understand if any 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 the catchphrase “buy high, sell higher.”

52-Week High: A Good Indicator

Many a time, stocks hitting a 52-week high are prevented from scaling higher despite robust potential due to the psychological bias of investors, who fear that the stocks are overvalued and a price crash is impending.

In fact, overvaluation is quite natural for most of these stocks as investors’ particular attention (or willingness to pay premium) has helped them reach the level. But that doesn’t always mean an impending decline. The 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 dominate 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/298957/5-stocks-near-52week-high-with-more-upside-in-store

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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Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

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 http://www.zacks.com/performance for information about the performance numbers displayed in this press release.



Fortinet, Inc. (FTNT): Free Stock Analysis Report

AMN Healthcare Services Inc (AMN): Free Stock Analysis Report

Fluor Corporation (FLR): Free Stock Analysis Report

National General Holdings Corp (NGHC): Free Stock Analysis Report

Archer Daniels Midland Company (ADM): Free Stock Analysis Report

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