Still plenty of room to run.. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.
A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.
There are several stocks that currently pass through the screen and Air Canada (ACDVF) is one of them. Here are the key reasons why this stock is a great candidate.
nvestors' growing interest in a stock is reflected in its recent price increase. A price change of 7.6% over the past four weeks positions the stock of this company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. ACDVF meets this criterion too, as the stock gained 57.5% over the past 12 weeks.
Moreover, the momentum for ACDVF is fast paced, as the stock currently has a beta of 2.1. This indicates that the stock moves 110% higher than the market in either direction.
Given this price performance, it is no surprise that ACDVF has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.
nvestors' growing interest in a stock is reflected in its recent price increase. A price change of 7.6% over the past four weeks positions the stock of this company well in this regard.
While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. ACDVF meets this criterion too, as the stock gained 57.5% over the past 12 weeks.
Moreover, the momentum for ACDVF is fast paced, as the stock currently has a beta of 2.1. This indicates that the stock moves 110% higher than the market in either direction.
Given this price performance, it is no surprise that ACDVF has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.