Howmet Aerospace Inc.
Howmet Aerospace Inc. (HWM) is a $15 billion specialty industrial company that engineers metal products for the aerospace and transportation industries across the globe.
The company is a major supplier for Boeing (BA).
Here’s how the chart is setting up…
And here’s how the stock is setting up with my Stock Surge Indicator (SSI)…
- Surge score: 91/100
- % Above 52-wk low: 36%
- Sales growth: +10%
- Return on Equity: 9%
- Triple momentum: yes
As you can see in the chart above, HWM is completing a large “cup with handle” pattern.
This is a 13-month base, so it could lead to a sustained move higher if shares can break out on good volume.
Relative strength (RS) has been climbing all year, and the RS line has made nine new highs since May.
I’m looking for a strong move through $37.50 to signal a buy. Consider working a stop beneath the 21-day moving average at $34.70.
Enact Holdings, Inc.
Enact Holdings, Inc. (ACT) is a $4 billion private mortgage insurance company and a recent initial public offering (IPO) that is consolidating nicely at its highs.
I like trading newer issues since the first breakout can lead to a strong move to the upside.
Here’s how the chart is setting up…
And here’s how the stock is setting up with my SSI…
- Surge score: 94/100
- % Above 52-wk low: 36%
- Sales growth: -&%
- Return on Equity: 14%
- Triple momentum: yes
ACT is unique compared to most new issues in that it never undercut its initial price.
Most IPOs trade lower, sometimes significantly lower, after going public.
But ACT’s ability to hold up after its debut, especially in these market conditions, is a good sign of strength.
Consider buying ACT if it makes a new high. My buy trigger would be $24.90 with a stop at $22.85.
FLEX LNG Ltd.
FLEX LNG Ltd. (FLNG), with a market cap of $1.6 billion, builds and operates carrier vessels to transport liquefied natural gas.
The oil and gas sector continues to lead the market, so it is not surprising that FLNG keeps coming up on my strength scans.
Here’s how the chart is setting up…
And here’s how the stock is setting up with my SSI…
- Surge score: 98/100
- % Above 52-wk low: 163%
- Sales growth: -8%
- Return on Equity: 19%
- Triple momentum: yes
After a big run higher in March, shares have consolidated over the last eight weeks.
Thursday saw a big up day on three times average daily volume as FLNG broke through resistance.
Consider buying at current levels, and use a 10% stop loss.
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