Top Momentum Stocks: Big Moves and Trends to Watch
Discover the top momentum stocks with big moves and trends to watch. Stay ahead with insights on stocks ready to outperform.
BullPower
Jan 12 2025
Momentum stocks are often characterized by large price swings, increased trading activity, and the potential for continued upward or downward movement. By tracking momentum, we can identify opportunities in stocks with big moves that could continue to outperform or reverse. Here’s an analysis of some Top Momentum Stocks with recent momentum and insights into their future prospects.
Boston Scientific
Boston Scientific's $BSX stock surged into the buy zone after the company announced its acquisition of Bolt Medical for $900 million. The medtech giant's aggressive move into the heart valve market has investors paying attention. The stock popped to $94.88, near its resistance level, following the announcement that Bolt IVL, a key product of Bolt Medical, would be part of the deal.
With a strong pipeline and the addition of Bolt’s technology, BSX is positioned for growth in the medical devices sector. However, traders should watch the price action around the $94.88 level, as it is currently testing the resistance. If the momentum persists, the next breakout could take the stock above $95, but if it reverses, a pullback to the $83.62 support level may occur.
Financial analysts suggest that Boston Scientific’s strategy to diversify and acquire innovative technology should continue driving the stock’s positive momentum. If the merger integrates successfully, the stock could maintain its upward trajectory, barring any major market downturns.
CorMedix
CorMedix $CRMD saw its stock jump after the company reported impressive Q4 preliminary sales figures, surpassing estimates with $31 million in sales, significantly above previous guidance. The rise in stock price to $11.19 reflected investor optimism about the company's growth prospects, especially as it moves closer to profitability.
The company's ability to exceed sales expectations by such a margin has generated positive momentum for its stock. The $11.19 price point is currently the stock’s resistance, and any further upward movement will depend on whether the momentum can be sustained by consistent sales growth. Support is located at $10.03, so a pullback could test that level.
Analysts are optimistic about CorMedix’s growth in the coming quarters, as they expect the company's sole marketed product to continue gaining market traction. The upward momentum could continue, especially if the company beats its next earnings report.
eBay
eBay $EBAY surged after the announcement that Meta Platforms (META) would integrate eBay listings into Facebook Marketplace. The partnership sent eBay’s stock to a three-year high of $65.90, marking a significant breakthrough in its business model and expansion.
The collaboration with Meta could provide a new avenue for growth in eBay’s e-commerce operations, attracting both buyers and sellers. With resistance at $65.90, eBay could see continued upward movement if the partnership proves fruitful. However, traders should monitor for any changes in sentiment towards tech stocks, as broader market trends could influence eBay’s performance.
The potential for eBay to expand its reach through Meta’s platform has experts bullish on the stock. With the right execution, this momentum could carry eBay toward new heights. However, any hiccups in the partnership could cause volatility.
Walgreens
Walgreens $WBA has been making waves after delivering a major earnings beat and revising its fiscal outlook positively. The stock soared 27% as the company managed to cut costs while maintaining its earnings forecast, which sent a clear signal that its turnaround plan is taking effect.
Walgreens' ability to improve profitability and streamline operations is driving investor confidence. At $11.76, the stock is near its resistance, and a sustained push above this level could signal a continuation of the bullish trend. Support is seen at $9.19, which would act as a safety net if the rally begins to stall.
Analysts are watching Walgreens closely as it shifts focus to cost management and efficiency. The positive earnings surprise could act as a catalyst for future growth, and its recovery plan appears to be on track. If it can maintain these gains, Walgreens could see further upside, especially with positive market sentiment.
Lucid Group
Lucid Group $LCID continues to gain momentum after reporting a 38% surge in its stock price in December, driven by investor excitement over its new Gravity SUV and production growth. As a leading EV manufacturer, Lucid’s developments in the electric vehicle space have attracted significant attention from both retail and institutional investors.
The stock is currently trading at $3.02, with a resistance level at $3.33. Given the EV sector’s overall strength, Lucid may continue to benefit from positive investor sentiment. However, volatility in the broader market could lead to price fluctuations, so investors should be mindful of any downside risks.
Experts remain cautiously optimistic about Lucid’s ability to scale production and meet delivery targets. If it can continue to hit production milestones, the stock could see further upward momentum. However, its current volatility means investors must keep a close watch on market trends and competitive pressures in the EV space.
UniFirst
UniFirst $UNF has been one of the most talked-about stocks after Cintas made a $5.1 billion buyout offer. The stock surged 40% following the news, as investors reacted positively to the potential acquisition. With UniFirst trading at $220.70, the offer price could signal a strong premium for shareholders.
The ongoing buyout offer has provided an immediate catalyst for UniFirst’s stock price, pushing it toward the resistance level of $220.70. Should Cintas finalize the deal, UniFirst’s stock could maintain its elevated levels. However, any delays or complications with the deal could cause the stock to retreat to lower support levels.
Analysts suggest that the buyout offer is likely to be completed, but investors should remain vigilant for any regulatory hurdles or delays. The offer price could act as a floor for the stock, offering a degree of safety in the near term.
Conclusion
As we look ahead to the coming week, it's clear that Top Momentum Stocks play a pivotal role in identifying stocks that could continue to perform well. Whether it's Boston Scientific's acquisition news, eBay’s strategic collaboration, or Walgreens’ earnings surprise, these stocks have shown strong momentum based on recent events.
For investors and traders, monitoring Top Momentum Stocks can provide key insights into potential opportunities. However, it’s essential to remain vigilant about support and resistance levels, as the market can always reverse course unexpectedly.
Stay tuned for more updates and analysis as we continue tracking Top Momentum Stocks, keeping you informed and ready to make the most of any market moves.
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Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
