3 Stocks Poised For A Rebound In 2016

One of the best ways to make money on the stock market is to buy when prices are low. For some, this means to buy after a market correction when the market as a whole is much lower, and for others it means seeking out stocks that have suffered bad news, a poor quarter or some other event that brought share prices significantly lower.

While price declines are often an indication of trouble, in many cases it's only a matter of time before the stock picks up once again. Here are three stocks that had a rough year, but could be set for a rebound come 2016.

1. Wal-Mart Stores, Inc. WMT

Over the past year, Wal-Mart shares have declined nearly 30 percent. The company has been under pressure as wages rise and competition from retailers like Amazon.com, Inc. AMZN grows.

Related Link: Apple Leads Brian White's 2016 Hot Stock List With $200 Price Target

However, many investors say Wal-Mart is capable of overcoming these challenges and has demonstrated this resilience for more than half a century. Technical analyst Mark Newton from Greywolf Execution Partners also claims that the technicals show Wal-Mart shares are poised for a rebound. He said he sees support for the stock in the $50 range and resistance near $64.

2. National Oilwell Varco, Inc. NOV

When looking for beaten down stocks, investors need look no further than the oil and gas sector, where a slump in commodity prices has taken a toll on the entire industry. National Oilwell Varco shares have fallen 47.89 percent so far this year, but some analysts say 2016 could see the stock recover.

While oil prices aren't expected to miraculously recover once the New Year's Eve countdown ends, many believe 2016 could see greater balance between supply and demand, which will increase oil and gas activity. This balance is likely to improve demand for the equipment that National Oilwell Varco provides and help shift its stock price higher.

3. GoPro Inc GPRO

HD camera maker GoPro is another stock that has suffered over the past year. The company's share price has fallen 71.65 percent so far this year as investors worried about whether its camera business was a one-hit-wonder.

However, the firm is planning to turn things around in 2016 by launching an airborne camera and transitioning itself into a content developer as well. The firm is expected to unveil a new line of editing and sharing options that will add to the value of its camera business. GoPro is also developing its own TV channel together with European telecom Sky.

While it remains uncertain whether GoPro's efforts will revitalize its business, many believe that 2016 could see the company's share price rise as it moves into a new phase.