Zacks.com Highlights: Daqo New Energy, Kennametal, Stifel Financial, SORL Auto Parts And Acushnet Holdings

For Immediate Release

Chicago, IL – Dec 22, 2017 - Stocks in this week’s article include: Daqo New Energy Corp. (NYSE:DQ) , Kennametal Inc. (NYSE:KMT) , Stifel Financial Corp. (NYSE:SF) , SORL Auto Parts, Inc. (NASDAQ:SORL) and Acushnet Holdings Corp. (NYSE:GOLF) .

Screen of the Week of Zacks Investment Research:

5 Stocks Near 52-Week High with Scope to Scale

A stock hitting its 52-week high level is perceived as a winner. And this level works as an indicator for many investors for buying or selling the stock.

Amateur investors start wondering if this level has made the stock an overpriced one. While they are not totally incorrect, all stocks hitting a 52-week high are not necessarily overpriced.

In fact, a decision to avoid stocks that are trading near their 52-week high levels makes an investor miss most of the top gainers.

A stock can continue the momentum and keep making new highs as time progresses. So, one should take a more informed approach to understand if any further upside is still left.

Here we will discuss a strategy to find the right stocks:

Borrowing from the basics of momentum investing, this technique bets on the catchphrase “buy high, sell higher.”

52-Week High: A Good Indicator

Many a times, stocks hitting 52-week high levels are prevented from scaling higher despite robust potential due to the psychological bias of investors, who fear that the stocks are overvalued and a price crash is impending.

In fact, overvaluation is quite natural for most of these stocks, as investors’ special attention (or willingness to pay premium) has helped them to achieve the high levels. But that doesn’t mean an impending decline. The factors — such as robust sales, surging profit levels, earnings growth prospects and strategic acquisitions — that motivated investors to bet on these stocks could keep them motivated if there is no tangible negative. In other words, the momentum might continue.

Also, when a string of positive developments dominate the market, investors find their under-reaction unwarranted, even if there are no company-specific driving forces.

And that's what we're screening for today…

For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/286687/5-stocks-near-52week-high-with-scope-to-scale-higher

Get the remaining stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and back testing software.

The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.

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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.

About Screen of the Week

Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.

Strong Stocks that Should Be in the News

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