At the beginning of every month, we release the top 10 S&P 500 stocks based on Trendrating's Smart Momentum Score. The only names filtered out are those with a retracement of more than 10%. This means the stock price has fallen by at least 10% from a recent high price for the trend.
Last month marked the first time this year that the Trendrating names underperformed the benchmark, albeit it wasn't by much. The biggest laggards for the month were United Rentals (URI) and Applied Materials (AMAT), which were down 9.96% and 6.09%, respectively. Amazon (NASDAQ:AMZN) helped offset much of that loss with a gain of 14.15%. The natural gas company, Oneok (OKE), also had strong performance for the month, and remains a top trending stock as we begin the month of May.
YTD, the top 10 names as shown by the Trendrating model at the beginning of every month have outperformed the broader index by 10.98%!
|Date||Trendrating Performance||S&P 500 Performance||Difference|
As we enter May, 7 of the top 10 names from April remain on the list. Helped by a stronger than expected earnings call last week, Netflix (NFLX) has catapulted to the number two spot, with a Smart Momentum Score of 2.6103. Other new additions to the list this week are Boeing (BA) and the cloud service provider, NetApp (NTAP).
The Smart Momentum Score is generated from the Trendrating model, and has been proven to provide critical insights into the strongest trends in the market. Along with the other metrics provided by Trendrating, these insights help advisors, individual investors, and analysts make informed investment decisions.
The performance listed above accounts for price movements only, and uses the ticker SPX to track price performance for the S&P 500. It should also be noted that these lists are created from data available on the first trading day of each month through the Trendrating subscription service. As such, the performance is measuring from the closing price on the first trading day of the month, up until the closing price on the last trading day of that same month.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.