Top Stocks Near Their 200-Day SMA

seekingalpha08-30

The 200-day Simple Moving Average is an important technical indicator that can signal potential bullish sentiment and breakout opportunities for stocks.The 200-day SMA can also act as support or ...

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Mutlu Kurtbas 200-Day SMA Can Indicate Uptrend A 200-day SMA or “simple moving average” is widely viewed as an important technical indicator. This indicator is a top signal for Quant data strategist Kushal Mehrotra. When companies begin to trade above their 200-day SMA, this technical “breakout” is generally considered an indication of bullish sentiment for the company. Breakouts can draw further attention, which can potentially lead to increased buying activity and momentum which positively reinforces price movements. Moving Averages And Price Trends (CenterPoint Securities) The 200-day SMA can also function as support and resistance levels when looking at a stock trend. A support level is the price at which a stock stops falling and may bounce back up, while a resistance level is the price at which a stock tends to stop rising, as sellers crowd the market to take profits. The 200-day SMA differs from short-term moving averages by smoothing out daily price movements, giving a clearer picture of a stock’s longer-term trajectory. These are important indicators for traders who are timing buy and sell decisions. Moving Averages To Find Support And Resistance (CenterPoint Securities) However, just because a stock has broken through its 200-day SMA, continued upside is not guaranteed. While stock prices can rise from increased attention and breaking through their 200-day SMA, it is not uncommon to see mean-reversion in the subsequent period. A stock poised for a breakout should be evaluated alongside its fundamentals and overall market conditions, and is not necessarily always suited for a “buy.” Top Quant Strong Buy Stocks Near Their 200-Day SMA SA Quant has identified three stocks that are trading +/- 10% of their 200-day SMAs and are currently rated as “Strong Buys.” Additionally, they also meet the below criteria:  Market capitalization > 500M Stock price >$2.00  In addition to their momentum and EPS grades, these stocks display positive factor grades that are less time-sensitive, such as valuation, growth, and profitability. These fundamentals can provide the potential for long-term price appreciation, if the upside near-term price appreciation is not realized. As a reminder to readers, SA’s stock screener tools are available to all users and are highly customizable. This screener was developed by clicking on “Stock Screener” selection in the left-hand window pane under “Find & Compare” and then clicking “Create New Screen.”   Stock Screener (Seeking Alpha) Create New Screen (Seeking Alpha) After clicking on “Create New Screen” users can then click “Advanced Filters” to select from a variety of fields to customize the screen. Advanced Filters (Seeking Alpha) Finally, users can modify the minimum/maximum values for the fields selected and click “Done” to finalize their screen. This will yield a list of stocks that meet the criteria. Edit Filters (Seeking Alpha) Here is an additional list of stocks that possess a Quant Strong Buy and are also near their 200-Day SMA:  NcINO, Inc. (NCNO) Okeanis Eco Tankers Corp. (ECO) RingCentral, Inc. (RNG) Scorpio Tankers, Inc. (STNG) BYD Company Limited (OTCPK:BYDDF) Golden Ocean Group Limited (GOGL)  1. SM Energy Company (SM)  Sector: Energy Quant Sector Ranking (as of 8/28/24): 5 out of 236 Quant Industry Ranking (as of 8/28/24): 3 out of 70 Current Share Price (as of 8/28/24): $46.07 200-Day SMA (as of 8/28/24): $43.63 Market Capitalization: $5.28B Quant Rating: Strong Buy  SM Energy operates out of the southwestern US and acquires, explores, and develops onshore oil and gas properties. It uses both horizontal drilling and hydraulic fracturing techniques to extract resources. SM’s two main operation sites are in the Midland Basin in West Texas, which is a part of the larger Permian Basin, in addition to the South Texas region which houses the Eagle Ford Shale formation. SM has seen positive price momentum in recent months, which has likely been driven in part by news of taking a majority stake in the acquisition of the Uinta Basin in conjunction with Northern Oil and Gas (NOG). SM will act as the operator for the assets in this partnership, responsible for the day-to-day management of oil and gas exploration. This will work to address the diminishing inventory supply in the Permian Basin. As of 8/28/2024, SM was trading roughly 5.80% above its 200-day SMA and displayed above average momentum grades across time periods. SM Stock Momentum Scorecard SM Stock Momentum Scorecard (SA Premium) SM has also experienced positive EPS revisions for Q3, totaling eight upwardly revised estimates in the last 90 days, demonstrating continued investor confidence in SM’s performance. The company scores well across other SA quant grades, particularly in valuation and earnings revisions. SM Energy company’s forward and trailing twelve-month P/E and P/B ratios are all trading at discounts relative to sector medians, while forward EBITDA growth is positive at 10.93%. SM Stock Dividend Scorecard   SM Stock Dividend Scorecard (SA Premium) While the company’s dividend yield is modest at 1.56%, it scores well in terms of both dividend growth and safety. The company has paid dividends for 21 consecutive years and is positioned to keep delivering yield with the potential for that yield to grow. 2. Roivant Sciences Ltd. (ROIV)  Sector: Healthcare Quant Sector Ranking (as of 8/28/24): 9 out of 1035 Quant Industry Ranking (as of 8/28/24): 5 out of 496 Current Share Price (as of 8/28/24): $12.00 200-Day SMA (as of 8/28/24): $10.74 Market Capitalization: $8.76B Quant Rating: Strong Buy  Roivant Sciences is a biopharmaceutical company that focuses on the rapid development and deployment of innovative drugs and technologies used for therapeutic purposes. Partnering with other companies and research groups, Roivant brings novel treatment options to market quickly. It was founded by Vivek Ramaswamy in 2014 and has been traded publicly since October of 2021. ROIV uses a unique business model or “vant” model where it creates subsidiaries that focus on specific therapeutic areas.   Roivant Summary (Roivant August 2024 Investor Presentation) Those subsidiaries are provided capital and expertise to accelerate drug development through clinical trials. These vants can then be spun off and sold. Last December, Roivant finalized its sale of Televant, a subsidiary that held the rights to a promising therapy for Inflammatory Bowel Disease for $7.1B. ROIV has seen modest returns on a trailing 1-year basis, but the stock has returned 11.47% in the last month. Currently, ROIV is trading 10.33% above its 200-day SMA and other shorter-term SMAs, indicating a strong bullish sentiment in addition to its longer-term momentum. In Q2, the company beat revenue estimates by $25.54M and EPS guidance by $0.38. EPS estimates for Q3 have seen three upward revisions, and one downward revision in the last 90 days. ROIV Stock SMA Trends ROIV Stock SMA Trends (SA Premium) ROIV also scores well across valuation, growth, and profitability grades. The company is currently trading at both P/B and P/E ratios well below sector medians, with strong revenue growth margins, both year-over-year and forward looking. From a profitability perspective, ROIV has an impressive net income margin, while still experiencing high rates of cash burn that are characteristic of growth-stage companies. Roivant 2024 Pipeline (Roivant August 2024 Investor Presentation) ROIV’s pipeline for 2024 is strong, with multiple products in advanced clinical trial stages. Several of these trials will yield data by year-end, and the nature of the results will likely have a strong impact on share price performance at that time. 3. Carnival Corporation & plc (CUK) (CCL)  Sector: Consumer Discretionary Quant Sector Ranking (as of 8/28/24): 5 out of 504 Quant Industry Ranking (as of 8/28/24): 1 out of 36 Current Share Price (as of 8/28/24): $15.13 200-Day SMA (as of 8/28/24): $14.64 Market Capitalization: $21.33B Quant Rating: Strong Buy  Carnival is a leading cruise liner, operating a fleet of over 90 ships across multiple brands in several regions globally. The company is an industry leader in the space, controlling approximately 40% of the global cruise market. Well-known subsidiaries include Princess Cruise Line, Holland America Line, and Costa Cruises offering a range of experiences from budget-friendly to luxury. Carnival has done well in the post-COVID period, after a strong downturn. The company had a strong Q2 with record revenues and historically high occupancy levels. CCL raised its full-year 2024 guidance to expect a net income of $1.55B, which is $275M above its Q1 expectations. Carnival has expansion plans slated for 2025, with the debut of Celebration Key, a private destination in the Bahamas built exclusively for Carnival Cruise Lines. Celebration Key will begin operations in the second half of 2025 and is expected to bring 18 ships in 2026. Celebration Key was a strategic choice, intended to both increase revenue and help manage fuel costs due to its proximity to Florida.  “These actions combined with the 2 Excel-class ships scheduled for delivery in 2027 and 2028 will grow Carnival Cruise Line's capacity by about 50% over 2019. By 2028, the Carnival brand will represent 37% of our portfolio, up from 29% as we continue to reshape our portfolio to maximize ROIC. Of course, our amazing destination experience, Celebration Key, purpose built for Carnival Cruise Line will soon support that growth and bolster returns through incremental revenue uplift coupled with improved fuel efficiency given its strategic location. We're introducing voyages to Celebration Key beginning in the second half of 2025 and ramp up to 18 ships calling Celebration Key in 2026,” said Josh Weinstein, President and CEO of Carnival.  The company's balance sheet is healthy. EBIDTA growth (yoy) is currently 310%, with strong operating cash flow yoy at 516.82%. The company has a strong EBITDA margin of 22.48%. From a valuation perspective, CCL is trading at 13.14x earnings, which is a -16.63% reduction relative to the sector median. Overall, Carnival is well-positioned to capitalize on growth opportunities while still offering some value to investors. The company's Quant Factor Grade scorecard provides an instant characterization of important investment characteristics discussed above. CCL Factor Scorecard   CCL Factor Scorecard (SA Premium) While share prices are down -10.26% YTD, the company has gained 7.08% in the last six months. The company’s momentum indicators are strong, scoring well above sector medians across several time periods and it is currently trading 5.85% above its 200-day SMA. CCL Stock Momentum Grades CCL Stock Momentum Grades (SA Premium) Concluding Summary The 200-day SMA is a widely accepted technical indicator to help assess the market trend for a given security and help traders identify entry or exit points for stocks. A stock trading near its 200-day SMA can signal bullish sentiment, with the potential for a breakout. A 200-day SMA can also serve as a resistance level indicator, where stocks stop rising. SA quant has identified three stocks that look promising from a technical perspective and are also rated as “strong buys” or “buys” based on other SA quant factor grades. SM Energy Company, Roivant Science Ltd, and Carnival Corporation plc display positive valuation, profitability, and growth alongside their recent positive price momentum.  We have many stocks with strong buy recommendations, and you can filter them using stock screens to suit your specific investment objectives. Consider using Seeking Alpha's 'Ratings Screener' tool to help find stocks that achieve diversification into desired sectors you like. Alternatively, if you're looking for a select number of Quant Strong Buy recommendations on a monthly basis, you might want to explore Alpha Picks.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2463256739"}