While the number of top rated stocks with PowerRatings of 9 or 10 remains small, those stocks that have earned top PowerRatings in recent days have made significant short term moves in many instances.
Shares of ^ANAD^, for example, gained more than 3% on Thursday after earning PowerRatings upgrades to 8 and then 9. Up more than 1% on Thursday were shares of ^MALL^, which had earned PowerRatings of 9 and 10 earlier in the week.
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In just a few days, ^JOBS^ earned PowerRatings upgrades from 3 – a relatively low rating – to 9, one our highest PowerRatings. The PowerRatings upgrade comes as the stock pulled back for a third straight trading day.
Based on our quantified research, stocks earning PowerRatings of 9 have outperformed the average stock in the short term.
A one-point upgrade in shares of ^TPL^ brought the stock from PowerRatings of 8 to a 9 going into Friday’s trading.
TPL has been pulling back over the past few days since earning our lowest PowerRatings at the beginning of the month. Our research into short term stock price behavior shows that stocks earning our lowest PowerRatings have made short term gains only 23% of the time.
After three days with PowerRatings of 8, ^FSYS^ earned a one-point upgrade to 9 going into Friday’s trading
Shares of FSYS have closed lower for three out of the past four trading days. The stock’s PowerRatings of 9 are the highest rating the stock has earned since the beginning of the year.
There are two stocks from the Nasdaq 100 that have earned PowerRatings of 8 ahead of trading on Friday. One of these stocks is ^CTXS^.
Shares of Citrix Systems were little changed on Thursday. But the previous day the stock pulled back by more than 13%, contributing to CTXS’s PowerRating of 8.
Also earning PowerRatings of 8 going into the final trading day of the week were shares of ^AKAM^. AKAM earned an upgrade to at the beginning of the month, and has sustained those PowerRatings through Thursday’s close.
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David Penn is Editor in Chief at TradingMarkets.com.