This morning I was screening on Barchrart for stocks hitting the most frequent new highs and found
Emcore (NASDAQ:EMKR). Momentum investors should get on board this one. The company is highly speculative but is pursuing some highly promising solar power joint ventures in China not only with Chinese companies but the Huainan municipal government as well.
- 96% technical buy signal
- Trend Spotter (tm) buy signal
- 10 new highs and up 67.66% in the last month
- Relative Strength Index 77.38 and rising
- Trading around 3.12 with a 50 day moving average of 1.83
- Wall Street brokerage analysts are not ready to recommend this company yet and using the present structure only look for the sales to increase by 7.20% this year and earnings to increase by 10.00% annually for the next 5 years
- If the company is able to put into play the 3 joint ventures it is working on these projections will be meaningless and the earnings may soar.
- Although Wall Street is not following this stock the CAPS members on Motley Fool are betting 281 to 69 that the stock will beat the market.
- The more experienced All Stars are not as positive with a vote of 54 to 33