Here’s what could help Oaktree Specialty Lending (OCSL) maintain its recent price strength
WEven if âthe trend is your friendâ when it comes to investing or short-term trading, the timing of trend entries is a key success factor. And increase the chances of success by making sure that the sustainability of a trend is not easy.
The trend is often reversed before exiting the trade, resulting in short-term capital loss for investors. So, for a profitable trade, factors like strong fundamentals, positive revisions to earnings estimates, etc. need to be confirmed. that could keep the momentum going.
Investors looking to profit from currently moving stocks may find our Recent Price Strength screen very useful. This preset screen is useful for spotting stocks that are on an uptrend supported by the strength of their fundamentals and trading in the upper part of their 52 week high-low range, which is generally an indicator of an uptrend.
Oaktree Specialty Lending (OCSL) is one of the many suitable candidates that have come onto the screen. Here are the main reasons why this could be a profitable bet for “trendy” investors.
A strong price increase over a 12-week period reflects the continued willingness of investors to pay more for a stock’s potential rise. OCSL is fairly well positioned in this regard, gaining 6.7% over this period.
However, it is not enough to just watch the price change for about three months, as it does not reflect any trend reversals that could have occurred in a shorter period of time. It is important for a potential winner to maintain the price trend. A price increase of 0.4% over the past four weeks ensures that the trend is still in place for shares of this specialist finance company.
Additionally, OCSL is currently trading at 92.4% of its 52 week high-low range, hinting that it may be on the verge of a breakout.
When it comes to fundamentals, the stock is currently ranked 2 of Zacks (Buy), meaning it is in the top 20% of over 4,000 stocks that we rank based on trends in estimate revisions. EPS earnings and surprises – the key factors that impact short-term price movements of a stock.
Zacks Rank’s stock rating system, which uses four factors related to earnings estimates to rank stocks into five groups, ranging from Zacks Rank # 1 (Strong Buy) to Zacks Rank # 5 (Strong Sell), has a track impressive externally audited. record high, with Zacks Rank # 1 stocks generating an average annual return of + 25% since 1988. You can see the full list of Zacks Rank # 1 (Strong Buy) stocks today here >>>>
Another factor that confirms the fundamental strength of the business is its average broker recommendation # 1 (strong buy). This indicates that the brokerage community is very optimistic about the short-term price performance of the stock.
So the price trend in OCSL might not be reversed anytime soon.
In addition to OCSL, several other actions are currently going through our “Recent Price Strength” screen. You can consider investing in them and start looking for the most recent stocks that match these criteria.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.