The Nasdaq Composite index is up more than 20 per cent year-to-date after surpassing 13,700, which was a key resistance price level, on Aug. 15 of last year. The S&P 500 index is up about 9.8 per cent this year and is currently testing 4,200, a technical resistance level that is heavily watched by traders. A break above 4,200 could very well diminish fears of the old adage “Sell in May and go away.” A few sectors are providing the momentum in U.S.
Next, we screened for the top-ranked stocks using Trading Central’s Quantamental rating method, a proprietary stock-rating methodology that covers more than 50,000 stocks worldwide. This metric rates stocks on a scale of one to 10 with 10 being the most bullish and one being the most bearish. The rating uses a combination of valuation, growth, quality, price momentum and income as key metrics when ranking a company.
We were interested in stocks that are indicating five-year EPS growth of at least 10 per cent. We like companies that have a proven track record of increasing their earnings per share. Finally, in order to screen out companies that are using a lot of leverage in a high-interest rate environment, we capped stocks at a debt-to-equity ratio of one.
For informational purposes, we have also included one-year price performance, the recent stock price, price/earnings, and dividend yield.is a global leader in financial market research and investment analytics for retail online brokers and institutions. Its product suite provides actionable trading ideas based on technical and fundamental research covering stocks, exchange-traded funds, indexes, forex, options and commodities.
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