Today's Scan: May's Five Stocks That Can Benefit From The "Rising Tide" Effect
Are These Stocks Poised To Go Higher? Five Stocks For May That Can Benefit From The "Rising Tide" Effect.
For the last two months I have done scans that can benefit from the "Rising Tide" effect. Nine of the ten stocks were higher a month later, including all five stocks from April's list. Therefor, I am going to repeat the scan for May.
To recap the scan, there is an old saying on Wall Street that "a rising tide lifts all boats." How this relates to the stock markets is that during a bull market, even out of favor or beaten down stocks will rise. In other words, all stocks will get the benefit of a strong overall stock market. With the Dow Jones Industrial Average hitting an all time high and other indexes hitting multi-year highs, the following five stocks may be poised to "rise with the tide". Today's scan searches for stocks in the bottom 25% of their 52 week range, but have risen at least 5% in the last 20 days. Furthermore, they are trading with above average volume and have a strong daily RSI:
-ITT Educational Services (NYSE: ESI): ITT Educational Services, Inc. provides postsecondary degree programs in the United States. It offers master, bachelor, associate, and career oriented education programs in various fields, such as information technology, electronics technology, drafting and design, business, criminal justice, and nursing and health sciences.
-E-Commerce China Dangdang (NYSE: DANG): E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the Peoples Republic of China. It primarily engages in the sale of books, audio-visual products, periodicals, and electronic publications through its Website, dangdang.com.
-MAKO Surgical Corp. (NASDAQ: MAKO): MAKO Surgical Corp., a medical device company, markets its advanced robotic arm solution, joint specific applications for the knee and hip, and orthopedic implants for orthopedic procedures in the United States and internationally.
-Forest Oil Corporation (NYSE: FST): Forest Oil Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in North America.
-The Active Network (NYSE: ACTV): The Active Network, Inc. provides organization-based cloud computing application services to business customers in North America, Europe, and internationally.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.