8/6/2019 14 Stocks to Buy Near New 52-Week Highs
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14 Stocks to Buy Near New 52-Week Highs
June 15, 2010
By Jim Woods, Contributing Editor, InvestorPlace
Some simple trading strategies involve buying oversold stocks
with great numbers -- but another greatinvestment strategy for your
retirement money is to buy stocks with strength. Theres no denying
themarket has been swept up in a wave of selling, and over the past
eight weeks weve seen the S&P 500descend about 11% off its
April highs. As stocks now are officially in correction territory,
investors maythink its the time to go bargain hunting. While its
true there may be many stocks on sale right now, thesmart money
knows that there are still many high-quality names trading at or
very near their 52-weekhighs (at least, as of this morning's
opening bell). In fact, many stocks with the best momentum right
noware very big consumer names such as food-giants General Mills
(GIS) and Hershey (HSY), anddiversified product maker Procter &
Gamble (PG).
A Bloomberg screen of stocks with market capitalization greater
than 500 million, and that also trade
within 5% of their 52-week high, revealed a number of
high-profile stocks enjoying their biggest gains ofthe year. As
might be expected during stressful market times, consumer goods
stocks have seen quite a bitof buying during the correction. In
addition to the aforementioned consumer names, the list includes
foodcompanies Campbell Soup (CPB) and Kellogg (K), and household
product-maker Clorox (CLX).
In addition to these stalwart consumer names the list included
several technology and software companies,including wireless
semiconductor chip-maker Broadcom (BRCM), and enterprise
software-firms Novell(NOVL) and Sybase (SY). The move higher in
these tech giants shows that theres bullish momentum inmore than
just traditional defensive plays.
Other top names making trading near new 52-week highs include
automotive-retailer Autozone (AZO);specialty beverage-maker Boston
Beer (SAM); medical device-maker Cyberonics (CYBX);
discount-retailer Dollar Tree (DLTR) and refuse disposal and
recycling firm Waste Connection (WCN).
If part of your trading strategy is to buy into strength, or if
youre a momentum investor looking to ridestocks trading at or near
new 52-week highs, youve still got plenty of investable
opportunities -- despitethe wider market downturn. Here are 14
stocks up against a new high as of this morning's open:
TickerStock
52WkHigh 6/15 Open
ReturnYTD
AZO Autozone $195.75 $191.50 +21.2%
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torPlace.com: 14 Stocks to Buy Near New 52-Week Highs
http://www.investorplace.com/experts/jim_woods/trading-strategi
16/06/2010
8/6/2019 14 Stocks to Buy Near New 52-Week Highs
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torPlace.com: 14 Stocks to Buy Near New 52-Week Highs
http://www.investorplace.com/experts/jim_woods/trading-strategi
16/06/2010
