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Act Fast! These Buy Rated Companies Just Crossed Over Above Their 200-Day SMA!

Barchart - Tue Jul 11, 2023

Let's face it, making money in the markets is tough. Even with the markets slowly showing signs of recovery, Wall Street still shows signs of caution. Indeed, we still have a ways to go before the indexes return to record highs. It’s a good thing that some stocks are showing signs of price recovery according to their 200-day moving average. 

What is the 200-day moving average?

The 200-day moving average is a technical indicator that maps the average price of a security over the past 200 trading periods. Most traders and investors consider it the last defense line before the security changes its trend. When a security crosses and closes above it after a downtrend would indicate a higher potential for transitioning into a new trend. This can also be combined with other analyses and technical indicators for a more robust strategy.

This article focuses on buy-rated that have recently exceeded their 200-day moving average.

Albemarle Corp (ALB)

Albemarle Corporation is a specialty chemicals company that personally develops and manufactures most of its products. The Company operates in three main segments: 

  • Energy Storage
  • Specialties 
  • Ketjen

The company's energy storage business caters to electric vehicle users by providing more efficient use of renewable energy through grid storage. Its specialties segment provides products that offer prevention of fires starting in electronic equipment, reduction of emissions from coal-fired power plants, and greater fuel efficiency from rubber tires. The Ketjen business, on the other hand, helps create efficiency of natural resources through more usable products from a single barrel of oil. This enables a safer and greener production of alkylates that help create more environmentally friendly fuels. 

Analyst Ratings

Analyst rate ALB as a “Strong Buy” based on 13 Strong buys, 1 Moderate buy, 3 Holds, and 1 Moderate sell recommendation from analysts. The mean target for ALB is $256.89, with a high target of $341.00, an upside of 32.74%. 

Exelon Corporation (EXC)

Exelon Corporation is an energy delivery company that operates through its many subsidiaries. Its energy distribution and transmission businesses are done through:

  • Commonwealth Edison Company (ComEd)
  • PECO Energy Company (PECO)
  • Baltimore Gas and Electric Company (BGE)
  • Pepco Holdings LLC (PHI) 
  • Potomac Electric Power Company (Pepco)
  • Delmarva Power & Light Company (DPL)
  • Atlantic City Electric Company (ACE)

The company serves over 10 million customers through its six fully regulated transmission and distribution utilities.

Analyst Rating

The company is rated a “Strong Buy” based on 6 Strong buys and 1 Moderate buy from analyst recommendations. The mean target is set at $44.41 and a high target price of $47.00, an upside of 14.69%.

Zoetis Inc. (ZTS)


 

Zoetis Inc. is an animal health company focusing on discovering, manufacturing, developing, and commercializing medicines, diagnostic products and services, vaccines, biodevices, genetic tests, and precision animal health technology. The company's commercialized products are offered to 8 core species:

  • Dogs
  • Cats
  • Horses
  • Cattle
  • Swine
  • Poultry
  • Fish
  • Sheep

Within these species, the product categories being offered are vaccines, anti-infectives,  dermatology, other pharmaceutical products, animal health diagnostics, parasiticides, and medicated feed additives. The company offers its products and services in more than 100 countries, including North America, Europe, Australia, South America, Africa, and Asia. 

Analyst Rating 

The company is rated a “Strong Buy” based on 11 Strong buys and 1 Moderate buy from analyst recommendations. The mean target is set at $217.80 and a high target price of $260.00, an upside of 52.74%.

Final Thoughts

Using moving averages for trading and investing can help optimize one's strategy. This helps investors see if prices are now changing their trend direction or if they are about to cross over an important inflection point. However, relying solely on a moving average isn’t recommended. Conducting your due diligence before buying the stock is highly advisable to ensure that you understand the business before making any important decisions.


 



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On the date of publication, Rick Orford did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Provided Content: Content provided by Barchart. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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