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Zacks.com Featured Highlights Include: SNX, ICHR, TECD, NSIT And BMY

Published 01/23/2020, 10:27 PM
Updated 07/09/2023, 06:31 AM

For Immediate Release

Chicago, IL – January 24, 2019 - Stocks in this week’s article are SYNNEX (NYSE:SNX) , Ichor Holdings Ltd. (NASDAQ:ICHR) , Tech Data Corporation (NASDAQ:TECD) , Insight Enterprises Inc. (NASDAQ:NSIT) and Bristol-Myers Squibb (NYSE:BMY) .

5 Stocks Near a 52-Week High that Can Scale Higher

Investors often use a 52-week high as a parameter for stock selection. This is because stocks near that level are perceived as winners.

However, the high price often compels investors to wonder whether the stock is trading at a premium. While the speculations are not completely baseless, all stocks at a 52-week high are not overpriced.

In fact, investors might lose out on top gainers in an attempt to avoid the steep prices.

A good stock can maintain the momentum and keep scaling new highs. So, more information on a stock is necessary to understand whether there is scope for further upside.

Here we discuss a strategy to find the right stocks on basics of momentum investing, which follows the “buy high, sell higher” technique.

52-Week High: A Good Indicator

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

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/728885/5-stocks-near-a-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.

About Screen of the Week

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

Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.

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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

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.



Bristol-Myers Squibb Company (BMY): Free Stock Analysis Report

SYNNEX Corporation (SNX): Free Stock Analysis Report

Ichor Holdings, Ltd. (ICHR): Free Stock Analysis Report

Insight Enterprises, Inc. (NSIT): Free Stock Analysis Report

Tech Data Corporation (TECD): Free Stock Analysis Report

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