In this week’s look at five of the top ranking stocks on the new Stock Score Report screening tool on InvestorsObserver, we once again see a nicely diversified group of stocks for consideration.
The new ranking system caught our attention due to its utilization of both technical and fundamental data in ranking the overall stock universe, and each week we have dug a little deeper into five of the top ranking stocks in the system.
The Stock Score Report uses proprietary software to give stocks both a short and long term technical ranking, so in order for the stock to obtain a high overall ranking, it needs to have been a strong performer both recently, and over the long term. Recent strength is also a positive indicator, but in order for a stock to continue building on gains, the underlying company needs to have solid fundamental data to drive future growth.
By combing both technical and fundamental data in its ranking, InvestorsObserver has developed a system that investors can use to screen out stocks that have not only shown recent strength, but have a high likelihood of building on those gains moving forward.
With the overall market consistently hitting new record highs, it is more important than ever to pay attention to fundamental data, since a market correction would have less impact on companies viewed to have the best underlying fundamentals.
This week’s group of stocks include a chipmaker, a weight management services provider, a social media giant, shipping company, and a homebuilder.
Keep reading to see which stocks are ranking high now, and a closer look at what is driving each stock.