The Closing Print live trading and financial blog during market hours.

The 8 MarketSmith stocks below are breaking out of patterns suggesting potential follow through if the indices can muster additional strength this week.

8 MarketSmith Stocks Higher on Volume

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.

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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. 

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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).
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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.

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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).

Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 

Vinny

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