Weekly Update: My Top 3 Stocks
Good evening, and welcome to this week’s edition of Stealth Trades!
Stocks surged on Friday for some welcome relief after a vicious down week.
Is this the bottom? Is it time to start buying stocks?
I think it is worth a shot. And here are my 3 favorites right now.
Each of these stocks has it all – good technical setup, strong sales and earnings growth, and high relative strength.
If these trades don’t work, nothing is going to.
ACM Research (ACMR)
This semiconductor stock has held up better than any other over the last three weeks. Not only is it not going down, but it is in fact rising.
ACMR carries a 3-month relative strength rating of 97/100, and it just broke out hard from a consolidation wedge on above average volume.
This stock wants to keep running.
Alignment Healthcare (ALHC)
The indexes may be down this month, but no one has been selling ALHC. There is clear resistance at the $16 level following a 3-month shallowing pattern.
Big sales growth, big earnings growth, and an RS line making new highs before price… This is exactly what I want to see in a breakout setup.
Root, Inc (ROOT)
ROOT is an insurance company, which is one of the top performing sectors right now. The stock is emerging from a classic cup-and-handle pattern.
Shares gained 13% today on above-average volume and closed at the high tick. This is exactly what you want to see on a breakout.
The fundamentals are mind-blowing as well. The firm is growing sales and earnings by more than a hundred percent a quarter. It is no wonder the stock has been a 98th percentile performer over the past 12 months.
ROOT is up 250% over the last year and showing no signs of slowing down.
Best wishes for your trading,
