January 31, 2023, 4:34 pm EST
If you wonder why a stock market advanced more than 1% today (DJIA +1%, S&P 1.5%, Nasdaq +1.7%), then it could be useful to check out the earning winners.
During the earnings season, a company with a better-than-expected result its stock price could lump up with a gap. Sometimes, it made a gap-up, breakout, or even a new 52-week high. It provides a bullish bias to the stock. Not only have the past 3 months proved to be good, but its future looks bright also. This is because investors digested its earnings results and future outlook. They do not want to wait any longer so they jumped in immediately to become shareholders.
In our opinion. It is a great opportunity to examine these candidates and look for potential portfolio positions. It is not too late by waiting a few days to get in. A strong stock could continue its rally weeks or months after the initial jump. Of course, it requires a skill to get in at the right time so that the risk is minimal and the reward is maximal.
Here is the list:
|A O Smith Corp (AOS)||Building Climate||+14%|
|International Paper Co (IP)||Paper||+11%|
|Pultergroup Inc (PHM)||Home Construction||+9%|
|Pentair PLC (PNR)||Equipment||+9%|
|General Motors Co (GM)||Automobiles||+8%|
|Dover Corp (DOV)||Industries||+6%|
The industrial sector seems to be strong today which we would track if it can keep up the momentum.