The 8 MarketSmith stocks below are breaking out of patterns suggesting potential follow through if the indices can muster additional strength this week.
MarketSmith Growth 250 Stocks and Stocks in Action today listed below. broke higher on +5:1 up volume with 574 stocks breaking higher. Markets surged higher is fast action.
For the past three trading days, advance/decline percent was at extreme oversold levels, along with the McClellan Oscillator. Sentiment registered extreme fear levels to start this week of trading.
If the market indices exhibit relative strength again on Thursday and Friday, we could see a retest of the 50d moving average. Once above the 50d, we’d look for additional strength to assist the stocks listed herein.
MarketSmith Stocks – Breaking Higher Today
Livent Corporation (LTHM) is building a cup and handle pattern, with a breakout pivot of (34.71) 10 cents above the current pivot high from May 27. RS rating is at 96 signaling strength.
- RS Rating: Gauges a stock’s strength compared to the entire S&P 500 universe of stocks. Range: 1 (worst) to 99 (best).
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s proprietary RS Rating identifies technical performance by showing how a stock’s price action over the last 52 weeks compares to that of the other stocks in our database.
- Sponsorship is growing, as 631 institutions have positions in the stock (right side panel).
Livent (LTHM) reported a Q2 June 2022 earnings beat of $0.37 per share on revenue of $218.7 million. The consensus earnings estimate was $0.30 per share on revenue of $209.3 million. Revenue grew 114.0% on a year-over-year basis.
Livent produces lithium compounds and products for its customers to power the world.
Livent Corporation has a Composite Rating of 99, an overall score based on the stock’s grade for each of the other IBD SmartSelect Ratings. In addition, the company has a SMR Rating of “B”, which measures sales growth, profit margins and return on equity. Range between: E (worst) to A+ (best).
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