Winning Stock Picks Register 52-Week Highs
Many of the winning stock picks from the watch list(s) over the past few weeks are printing 52-week highs and forming bullish continuation patterns. In addition, the S&P 500 is trading just shy of all-time highs. Futures are green.
AMD Consolidating at 52-Week Highs
AMD continues to print 52-week highs. The battle between bulls and bears is clearly being won by the bulls. While many view AMD as a likely candidate for a pullback and consolidation, there are others like those in the member’s chatroom that think AMD is heading higher. We view it this way.
“The Great Paradox of the Stock Market is that what seems too high in price and risky to the majority usually goes higher, and what seems low and cheap usually goes lower.” – William O’Neil
We will save our opinion and trade price. AMD price action suggests it may continue higher. With elevated IV Rank, we also like it for covered calls.
World Wrestling Entertainment WWE 52-Week Highs
We all know WWE broke out of its base back in late 2017. We also know as the stock printing additional 52-week highs, like in May, that the stock continues to forge a bullish path higher. The latest breakout is coming after the stock consolidates the 2018 gains to date. WWE is up 60 points or 187%(+/-) depending on your entry. (32 > 92.67).
WWE is breaking higher on above-average volume as fund managers continue to add the stock to their portfolios. MACD and RSI suggest a follow-through.
Microsoft MSFT 52-Week Highs
Microsoft remains in a bullish trend as it too prints 52-week highs. MACD, RSI, and volume are all rising in anticipation of higher prices.
Winning Stock Picks at 52-Week Highs
The winning stock picks above are only a few on our radar that are trading at 52-week highs. ABT, ATVI, CSCO, JPM, PFE, ROKU, ROST among others, are equally noteworthy for their own reasons.
The fact that these stocks represent varying sectors is compelling in itself. The market is moving higher, with participation from many industry groups. Until this character changes markedly and stocks fail to produce a follow-through after making fresh 52-week highs, we will remain bullish.
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