Seeking Alpha
Alan Brochstein, 420 Investor (1,308 clicks)
Contrarian, growth at reasonable price, management change, cannabis stocks
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As I mentioned in my article a couple of weeks ago, I believe that the correction is over and I am therefore continuing my search for new buy ideas. This week, I wanted to very quickly identify some names that were reasonably valued, fundamentally stable at worst and performing technically well. Using StockVal, I employed the following parameters:

• Market Cap: $500mm minimum
• 4 week relative price change: 0% minimum
• 13 week relative price change: Between 1% and 15%
• Price vs. 52-week low: No more than +25%
• Price vs. 52-week high: No less than -10%
• PE: <50
• PE relative to 5yr Median: <1.3X
• PEG: 1.5 maximum

The list is comprised of names in 5 economic sectors, with Healthcare most heavily represented. This is a good starting point to focus one’s efforts to identify stocks that could be about to breakout.

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brochstein

Disclosure: Author is long WLP

Source: New Buy Ideas: 15 Stocks I Expect To Breakout