Best Stocks to buy for Swing Trading for this week – Expert Stock Picks of the Week by StockXpo
Hello to all our readers including Traders, Investors, Analysts, and others!!!!
U.S. stocks rose Thursday, putting the Dow Jones Industrial Average on course for a fifth consecutive day higher after strong results from retailers lifted sentiment across the market. The Biden administration and the Federal Reserve are evaluating the potential creation of a U.S. digital dollar, backed by the central bank. U.S. stock futures ticked higher ahead of earnings from large technology companies and economic data including jobless claims and an updated reading of first-quarter gross domestic product.
If you are a regular reader, you may be already aware, we recommend 10-12 stocks in 2 different categories – 1. ValueGrowth and 2. TechFund, to fit different trading styles and strategies. You can find more details about these strategies in our FAQ section. This is more of a swing trading, as we keep balancing our portfolio on a weekly basis, mostly on Friday. If you are new, welcome. Visit our site to get all relevant information about stocks and make sure to subscribe to our newsletter to get updates on our Swing Trading Stock Picks. We send out our newsletter as soon as we publish our stock picks. We hope that you love our articles and get all the details so keep coming to our site for more information. Swing traders primarily use technical analysis for swing trading, but here we combine technical analysis with fundamental analysis and choose the best stock market investment which is best and safe for swing trading. We have tested out our strategy with more than 20 years of data and it performed well against S&P 500.
Here we are again with this week’s recommendations. Please note that overall the market was very much on the upside, and whether you are following our recommendations or not, I am sure if you have been trading this week ending today then you must have collected a lot of profits. If not, and you are skeptical about the market, add swing trading to your trading strategy and get started to follow our recommendations. We are going to publish the performance results for the last few months and this year to date, to give you some ideas of how we have been compared against the S&P 500 and other major indexes.
Now let's look at our picks for this week.
StockXpo's – ValueGrowth Strategy
As you know, this is more like Buffett's Value Strategy, but our stock-picking criterion is to pick the top 3 out of such value stocks. Moreover, we are more likely to hold them for the short term, not the long term. Our backtesting suggests that weekly balancing gives very good results week over week and year over year, it can grow your portfolio exponentially if you just consistently follow these strategies. So our picks are $ZEUS, $DINO and $PRPH in this category.
PRPH(ProPhase Labs, Inc). – ProPhase Labs, Inc. engages in the research, development, manufacture, distribution, marketing, and sale of over-the-counter (OTC) consumer healthcare products and dietary supplements in the United States. The company operates in two segments, Diagnostic Services, and Consumer Products. It offers a range of OTC dietary supplements, including Legendz XL for male sexual health; and Triple Edge XL, an energy and stamina booster.
DINO(HF Sinclair Corporation): HF Sinclair Corporation operates as an independent energy company. It produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty, and modified asphalt, and others. The company also owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and the Rocky Mountains, Pacific Northwest, and other neighboring Plains states.
ZEUS(Olympic Steel, Inc.): Olympic Steel, Inc. processes, distributes, and stores metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts. The Specialty Metals Flat Products segment sells and distributes processed aluminum and stainless flat-rolled sheets and coil products, flat bar products, and fabricated parts, as well as stainless steel and aluminum plates, sheets, angles, rounds, and flat bars, tubing and pipe, and prime tin mill products.
StockXpo's TechFund Strategy
This is the most active category and we give a lot of preference here to stocks that have strong technical and strong fundamental current and past track records. That’s why we call it the TechFund (TAFA) strategy. Just like other strategies, we pick these companies here for weekly based swing trade recommendations.
Please note that we have added it from this list $GFF, $ULH, $FGBI, $TWI, $CPG, $OXY, $SWIR removed $DK, $AVT, $CVE, $NR, $SCSC.
| Stock Symbol | Company Name | Action |
|---|---|---|
| DK | Delek US Holdings, Inc. | Sell |
| AVT | Avnet, Inc. | Sell |
| CVE | Cenovus Energy Inc. | Sell |
| NR | Newpark Resources, Inc. | Sell |
| SCSC | ScanSource, Inc. | Sell |
| GFF | Griffon Corporation | Hold |
| ULH | Universal Logistics Holdings, Inc. | Hold |
| FGBI | First Guaranty Bancshares, Inc. | Buy |
| TWI | Titan International, Inc. | Buy |
| CPG | Crescent Point Energy Corp. | Buy |
| OXY | Occidental Petroleum Corporation | Buy |
| SWIR | Sierra Wireless, Inc. | Buy |
FGBI(First Guaranty Bancshares, Inc.): First Guaranty Bancshares, Inc. operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities. The company also provides loans, such as non-farm, non-residential loans secured by real estate, commercial and industrial loans, one- to four-family residential loans, multifamily loans, construction, and land development loans, agricultural loans, farmland loans, and consumer and other loans to small to medium-sized businesses and professionals, and individuals.
GFF(Griffon Corporation): Griffon Corporation, through its subsidiaries, provides consumer and professional, and home and building products in the United States, Europe, Canada, Australia, and internationally. Its Consumer and Professional Products segment manufactures and markets long-handled tools and landscaping products for homeowners and professionals; wood and wire closet organization, general living storage, and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; wheelbarrows and lawn carts; snow, striking, and hand tools; planters and lawn accessories; garden hoses; and pruners, loppers, shears, and other tools, as well as cleaning products for professional, home, and industrial use.
TWI(Titan International, Inc.): Titan International, Inc., together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally. The company operates in the Agricultural, Earthmoving/Construction, and Consumer segments. It offers rims, wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment. The company also offers rims, wheels, tires, and undercarriage systems and components for off-the-road earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators.
CPG(Crescent Point Energy Corp).: Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota and Montana. The company was incorporated in 1994 and is headquartered in Calgary, Canada.
OXY(Occidental Petroleum Corporation): Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
ULH(Universal Logistics Holdings, Inc.): Universal Logistics Holdings, Inc. provides transportation and logistics solutions in the United States, Mexico, Canada, and Colombia. It offers truckload services, which include dry van, flatbed, heavy-haul, and refrigerated operations; domestic and international freight forwarding, and customs brokerage services; and final mile and ground expedite services. The company transports various commodities comprising automotive parts, machinery, building materials, paper, food, consumer goods, furniture, steel, and other metals. It also provides value-added services for individual customer requirements, including material handling, consolidation, sequencing, sub-assembly, cross-dock, kitting, repacking, warehousing, and returnable container management; and intermodal support services comprising short-to-medium distance delivery of steamship and rail truck containers between the port or railhead, and the customer and drayage services.
SWIR(Sierra Wireless, Inc.): Sierra Wireless, Inc., together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, IoT Solutions, and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provide original equipment manufacturers (OEMs) with 5G, 4G LTE, third-generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.
StockXpo's Diversification Strategy
Companies often think about diversification when they reach a certain point in their development. Igor Ansoff identified diversification as one of the four main growth strategies in 1957, and it allows companies to look at other markets or new products to expand their reach and revenue.
Diversification aims to smooth out unsystematic risk occurrences in a portfolio by ensuring that the positive performance of some investments balances out the negative performance of others. Only if the securities in the portfolio are not completely correlated—that is, if they react to market factors differently, frequently in opposing ways—does diversification pay off.
If you are following all strategies and watchlist – here is the recommendation for the StocXpo diversification Strategy-
- SELL(DK, AVT, YARIY, CVE, NR, SCSC)
- HOLD(GFF, ZEUS, DINO, ULH)
- BUY(FGBI, TWI, PRPH, CPG, OXY, SWIR)
| Stock Symbol | Company Name | Action |
|---|---|---|
| DK | Delek US Holdings, Inc. | Sell |
| AVT | Avnet, Inc. | Sell |
| YARIY | Yara International ASA | Sell |
| CVE | Cenovus Energy Inc. | Sell |
| NR | Newpark Resources, Inc. | Sell |
| SCSC | ScanSource, Inc. | Sell |
| GFF | Griffon Corporation | Hold |
| ZEUS | Olympic Steel, Inc. | Hold |
| DINO | HF Sinclair Corporation | Hold |
| ULH | Universal Logistics Holdings, Inc. | Hold |
| FGBI | First Guaranty Bancshares, Inc. | Buy |
| TWI | Titan International, Inc. | Buy |
| PRPH | ProPhase Labs, Inc. | Buy |
| CPG | Crescent Point Energy Corp. | Buy |
| OXY | Occidental Petroleum Corporation | Buy |
| SWIR | Sierra Wireless, Inc. | Buy |
I hope all this information is helping you to buy good stocks for your welfare. See you next Friday. Keep coming to our website for stock-related queries and information.
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Happy Trading!!!!
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