10 Stocks to Watch This Week —4/4/16
It’s the beginning of a new week, and here’s what were looking at. Remember, you can follow the progress of these stocks all week long with the SparkFin app.
Walgreens (WBA) and Rite Aid are in the middle of a merger, yet it’s only for former whose stock looks interesting. After putting in a bottom in February, the stock bounced hard, breaking above the 200-day moving average — a bullish sign — on Friday. They’re scheduled for earnings this week and positive numbers could keep the momentum going.
Related Lists: Crossing 200-Day Moving Average
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Despite being downgraded last week, the recent price action in CarMax (KMX) suggests that their stock may have found a bottom — at least for now. From a technical standpoint, the stock looks good as it is currently breaking out of a tight flag pattern — one of the most positive chart formations. They report earning this week as well.
Related Lists: Have These Stocks Bottomed
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Chances are, you’ve either eaten something that ConAgra (CAG) makes or have one of its products in your home. They operate brands like Chef Boyardee and Slim Jim and their stock has been on fire over the last few months, breaking into new 52-week highs last week. If earnings this week are positive, look for the stock to continue into all-time highs.
Related Lists: Hitting New 52-Week Lows
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Monsanto (MON) — which among other things, produces chemicals, fertilizer, and seed products for the farming and agriculture industry — reports earnings this week. Though their revenue has been trending higher over the last few years, it hasn’t helped their stock price, which has been caught in a cyclical downturn. Recent price action though does suggest that it may have bottomed.
Related Lists: Notable Earnings This Week
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It’s not always a given that just because gold is going up in price, the stocks of the companies that mine it will go up as well. Bad management, inefficient operations, and unforeseen variables such as labor strikes can cause a company to lose money even in a gold rush. NovaGold (NG) however seems to be moving in tandem with gold, indicating that their operations are sound. We’ll get more insight into that when they report this week.
Related Lists: Precious Metals & Miners
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2015 started off bad for Bed Bath & Beyond (BBBY) as it turns out that consumers actually haven’t had the time to get to their stores on the weekend. Because of this, the stock is off almost 50% since hitting it’s 52-week high. To add insult to injury, the stock was downgraded by Credit Suisse just last week. However, from a technical standpoint the stock is in a tight flag pattern — which can be bullish — and if earnings are good this week, we could see that pattern resolve to the upside.
Related Lists: Tight Flag Pattern
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Another company releasing earnings this week, Darden (DRI) operates over 1,500 restaurants under various brands such as the Olive Garden, LongHorn Steakhouse, and The Capital Grille. So far this year it has been a standout performer from the Fast Casual Restuarant list as the stock is just below its 52-week high, and is currently in a tight flag pattern.
Related Lists: Tight Flag Pattern
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It shouldn’t be surprising that Constellation Brands (STZ) is not only just below 52-week highs, but also all-time highs, as Sin Stocks are notoriously strong long-term performers due to their cash flow. The maker of well-known spirits and beers counts Corona, Robert Mondavi, and Svedka Vodka among its brands. They report earnings this week.
Related Lists: Hitting New 52-Week Lows
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Global Payments (GPN) took a hit with the rest of the market at the first of the year, but since then it has recovered nicely, rocketing off its 200-day moving average last week. The stock is now just 10% below its 52-week highs, which might be achievable if its numbers are good when they announce this week.
Related Lists: Crossing 200-Day Moving Average
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While macro forces work against the success of RPM International (RPM) — which makes home improvement products like Rust-Oleum, DAP, and Zinsser — the technical picture has become brighter in the last few months. After hitting a low in mid-February, the stock has shot up almost 35%, blasting past the 200-day moving average in the process. We’ll see if there is some steak behind this sizzle when the company reports this week.
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Have a great week in the market.
-The SparkFin Team
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