2 Red-Hot Stock Picks for Momentum Investors By StockNews

<iframe src=”//rcm-na.amazon-adsystem.com/e/cm?o=1&p=22&l=ur1&category=homegarden&banner=02NMTC702K4D0VHE1SR2&f=ifr&linkID=17e0b4ac3a719000706e772761d8ae0e&t=forexz-20&tracking_id=forexz-20″ width=”250″ height=”250″ scrolling=”no” border=”0″ marginwidth=”0″ style=”border:none;” frameborder=”0″></iframe>

© Reuters. 2 Red-Hot Stock Picks for Momentum Investors

The retail industry has generated solid momentum over the past year due to its fast adaptation to pandemic-induced challenges and attendant consumer needs. We think this trend is likely to continue in the coming months, driven by strong consumer spending. Thus, Signet Jewelers (NYSE:) and Zumiez (NASDAQ:) should be able to maintain their momentum. Let’s discuss.The retail sector has been among the fastest industries to make operational changes to overcome pandemic-led challenges. Since the early days of the pandemic, many companies have brought a critical focus to their online presence and home delivery systems. And despite the rising popularity of physical shopping lately, the convenience of online shopping has allowed online retail sales to increase 39% year-over-year in the first quarter of 2021—nearly triple the increase in the 2020 first quarter.

Given rising consumer spending, several retail stocks have gained momentum of late. This is evident in the S&P Retail Select Index’s 120.2% and 50% gains over the past year and year-to-date, respectively, versus the broader S&P 500 index’s 36.6% and 16.3% returns.

Signet Jewelers Limited (SIG) and Zumiez Inc . (ZUMZ) are currently trading above their 50-day and 200-day moving averages. Given the favorable backdrop, we expect these two stocks to maintain their momentum in the near term.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


− 7 = 1